ZDV.TO vs. CMVP.TO
ZDV.TO (BMO Canadian Dividend ETF) and CMVP.TO (HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units) are both Canada Equities funds. ZDV.TO is actively managed, while CMVP.TO is passively managed. Over the past year, ZDV.TO returned 31.08% vs 25.73% for CMVP.TO. Their correlation of 0.86 suggests significant overlap in exposure. ZDV.TO charges 0.39%/yr vs 0.00%/yr for CMVP.TO.
Performance
ZDV.TO vs. CMVP.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZDV.TO achieves a 18.56% return, which is significantly higher than CMVP.TO's 11.91% return.
ZDV.TO
- 1D
- -0.22%
- 1M
- 4.61%
- YTD
- 18.56%
- 6M
- 13.14%
- 1Y
- 31.08%
- 3Y*
- 20.39%
- 5Y*
- 13.72%
- 10Y*
- 10.97%
CMVP.TO
- 1D
- -0.29%
- 1M
- 2.40%
- YTD
- 11.91%
- 6M
- 14.09%
- 1Y
- 25.73%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZDV.TO vs. CMVP.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ZDV.TO BMO Canadian Dividend ETF | 18.56% | 16.67% |
CMVP.TO HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units | 11.91% | 21.46% |
Correlation
The correlation between ZDV.TO and CMVP.TO is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Jan 28, 2025 | 0.86 |
The correlation between ZDV.TO and CMVP.TO has been stable across timeframes, ranging from 0.86 to 0.86 - a consistent structural relationship.
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Return for Risk
ZDV.TO vs. CMVP.TO — Risk / Return Rank
ZDV.TO
CMVP.TO
ZDV.TO vs. CMVP.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Canadian Dividend ETF (ZDV.TO) and HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units (CMVP.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| ZDV.TO | CMVP.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.66 | 1.49 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 4.69 | 3.62 | +1.08 |
| Martin ratioReturn relative to average drawdown | 18.24 | 16.15 | +2.09 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ZDV.TO | CMVP.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.95 | 2.66 | +0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.26 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.73 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.68 | 2.32 | -1.64 |
Drawdowns
ZDV.TO vs. CMVP.TO - Drawdown Comparison
The maximum ZDV.TO drawdown since its inception was -43.21%, which is greater than CMVP.TO's maximum drawdown of -8.86%. Use the drawdown chart below to compare losses from any high point for ZDV.TO and CMVP.TO.
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Drawdown Indicators
| ZDV.TO | CMVP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.21% | -8.86% | -34.35% |
Max Drawdown (1Y)Largest decline over 1 year | -6.65% | -7.14% | +0.49% |
Max Drawdown (3Y)Largest decline over 3 years | -9.04% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -16.72% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -43.21% | — | — |
Current DrawdownCurrent decline from peak | -0.22% | -1.42% | +1.20% |
Average DrawdownAverage peak-to-trough decline | -5.12% | -1.09% | -4.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.71% | 1.60% | +0.11% |
Volatility
ZDV.TO vs. CMVP.TO - Volatility Comparison
The current volatility for BMO Canadian Dividend ETF (ZDV.TO) is 2.49%, while HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units (CMVP.TO) has a volatility of 3.00%. This indicates that ZDV.TO experiences smaller price fluctuations and is considered to be less risky than CMVP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZDV.TO | CMVP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.49% | 3.00% | -0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 9.69% | 7.92% | +1.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.57% | 9.72% | +0.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.94% | 11.08% | -0.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.11% | 11.08% | +4.03% |
ZDV.TO vs. CMVP.TO - Expense Ratio Comparison
ZDV.TO has a 0.39% expense ratio, which is higher than CMVP.TO's 0.00% expense ratio.
Dividends
ZDV.TO vs. CMVP.TO - Dividend Comparison
ZDV.TO's dividend yield for the trailing twelve months is around 2.68%, less than CMVP.TO's 2.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMVP.TO HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units | 2.72% | 2.70% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZDV.TO BMO Canadian Dividend ETF | 2.68% | 3.07% | 3.57% | 4.10% | 4.10% | 3.63% | 4.48% | 4.11% | 5.06% | 3.96% | 3.84% | 4.63% |
Frequently Asked Questions
ZDV.TO and CMVP.TO have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CMVP.TO is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CMVP.TO is cheaper with a 0.00% expense ratio, compared with 0.39% for ZDV.TO.
They also come from different issuers: BMO and Hamilton Capital. Their fees differ too: 0.39% for ZDV.TO and 0.00% for CMVP.TO.
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