ZDV.TO vs. ZDIV.TO
ZDV.TO (BMO Canadian Dividend ETF) and ZDIV.TO (BMO MSCI Canada IMI High Dividend Yield Index ETF) are both exchange-traded funds - ZDV.TO is a Canada Equities fund actively managed by BMO, while ZDIV.TO is a Dividend fund tracking the MSCI Canada IMI High Dividend Yield Select Index. ZDV.TO is actively managed, while ZDIV.TO is passively managed. At a 0.44 correlation, their price movements are largely independent. ZDV.TO charges 0.39%/yr vs 0.09%/yr for ZDIV.TO.
Performance
ZDV.TO vs. ZDIV.TO - Performance Comparison
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Returns By Period
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%
ZDIV.TO
- 1D
- -0.14%
- 1M
- 2.47%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZDV.TO vs. ZDIV.TO - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
ZDV.TO BMO Canadian Dividend ETF | 11.89% |
ZDIV.TO BMO MSCI Canada IMI High Dividend Yield Index ETF | 15.21% |
Correlation
The correlation between ZDV.TO and ZDIV.TO is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Feb 9, 2026 | 0.44 |
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Return for Risk
ZDV.TO vs. ZDIV.TO — Risk / Return Rank
ZDV.TO
ZDIV.TO
ZDV.TO vs. ZDIV.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Canadian Dividend ETF (ZDV.TO) and BMO MSCI Canada IMI High Dividend Yield Index ETF (ZDIV.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 | ZDIV.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.66 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 4.69 | — | — |
| Martin ratioReturn relative to average drawdown | 18.24 | — | — |
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 | ZDIV.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.95 | — | — |
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 | 5.66 | -4.98 |
Drawdowns
ZDV.TO vs. ZDIV.TO - Drawdown Comparison
The maximum ZDV.TO drawdown since its inception was -43.21%, which is greater than ZDIV.TO's maximum drawdown of -2.60%. Use the drawdown chart below to compare losses from any high point for ZDV.TO and ZDIV.TO.
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Drawdown Indicators
| ZDV.TO | ZDIV.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.21% | -2.60% | -40.61% |
Max Drawdown (1Y)Largest decline over 1 year | -6.65% | — | — |
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% | -1.02% | +0.80% |
Average DrawdownAverage peak-to-trough decline | -5.12% | -0.49% | -4.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.71% | — | — |
Volatility
ZDV.TO vs. ZDIV.TO - Volatility Comparison
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Volatility by Period
| ZDV.TO | ZDIV.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.49% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 9.69% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 10.57% | 9.99% | +0.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.94% | 9.99% | +0.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.11% | 9.99% | +5.12% |
ZDV.TO vs. ZDIV.TO - Expense Ratio Comparison
ZDV.TO has a 0.39% expense ratio, which is higher than ZDIV.TO's 0.09% expense ratio.
Dividends
ZDV.TO vs. ZDIV.TO - Dividend Comparison
ZDV.TO's dividend yield for the trailing twelve months is around 2.68%, more than ZDIV.TO's 0.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ZDIV.TO BMO MSCI Canada IMI High Dividend Yield Index ETF | 0.90% | 0.00% | 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 ZDIV.TO have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZDIV.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZDIV.TO is cheaper with a 0.09% expense ratio, compared with 0.39% for ZDV.TO.
ZDV.TO is categorized as Canada Equities, while ZDIV.TO is Dividend. Their fees differ too: 0.39% for ZDV.TO and 0.09% for ZDIV.TO.
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