ZDV.TO vs. ZMMK.TO
ZDV.TO (BMO Canadian Dividend ETF) and ZMMK.TO (BMO Money Market Fund ETF Series) are both exchange-traded funds - ZDV.TO is a Canada Equities fund actively managed by BMO, while ZMMK.TO is a Money Market fund actively managed by BMO. Both are actively managed. Over the past 3 years, ZDV.TO returned 20.39%/yr vs 3.85%/yr for ZMMK.TO. At a 0.03 correlation, their price movements are largely independent. ZDV.TO charges 0.39%/yr vs 0.13%/yr for ZMMK.TO.
Performance
ZDV.TO vs. ZMMK.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 ZMMK.TO's 0.95% 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%
ZMMK.TO
- 1D
- -0.01%
- 1M
- 0.19%
- YTD
- 0.95%
- 6M
- 1.13%
- 1Y
- 2.48%
- 3Y*
- 3.85%
- 5Y*
- —
- 10Y*
- —
ZDV.TO vs. ZMMK.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ZDV.TO BMO Canadian Dividend ETF | 18.56% | 20.17% | 16.52% | 7.83% | -1.93% | 3.60% |
ZMMK.TO BMO Money Market Fund ETF Series | 0.95% | 2.77% | 4.94% | 4.86% | 1.99% | 0.04% |
Correlation
The correlation between ZDV.TO and ZMMK.TO is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2021 | 0.03 |
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Return for Risk
ZDV.TO vs. ZMMK.TO — Risk / Return Rank
ZDV.TO
ZMMK.TO
ZDV.TO vs. ZMMK.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Canadian Dividend ETF (ZDV.TO) and BMO Money Market Fund ETF Series (ZMMK.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 | ZMMK.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.71 | ||
| Sortino ratioReturn per unit of downside risk | -20.52 | ||
| Omega ratioGain probability vs. loss probability | 1.66 | 5.45 | -3.79 |
| Calmar ratioReturn relative to maximum drawdown | 4.69 | 82.88 | -78.19 |
| Martin ratioReturn relative to average drawdown | 18.24 | 377.25 | -359.01 |
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 | ZMMK.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.95 | 9.66 | -6.71 |
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 | 10.29 | -9.61 |
Drawdowns
ZDV.TO vs. ZMMK.TO - Drawdown Comparison
The maximum ZDV.TO drawdown since its inception was -43.21%, which is greater than ZMMK.TO's maximum drawdown of -0.16%. Use the drawdown chart below to compare losses from any high point for ZDV.TO and ZMMK.TO.
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Drawdown Indicators
| ZDV.TO | ZMMK.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.21% | -0.16% | -43.05% |
Max Drawdown (1Y)Largest decline over 1 year | -6.65% | -0.03% | -6.62% |
Max Drawdown (3Y)Largest decline over 3 years | -9.04% | -0.08% | -8.96% |
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% | -0.02% | -0.20% |
Average DrawdownAverage peak-to-trough decline | -5.12% | -0.00% | -5.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.71% | 0.01% | +1.70% |
Volatility
ZDV.TO vs. ZMMK.TO - Volatility Comparison
BMO Canadian Dividend ETF (ZDV.TO) has a higher volatility of 2.49% compared to BMO Money Market Fund ETF Series (ZMMK.TO) at 0.06%. This indicates that ZDV.TO's price experiences larger fluctuations and is considered to be riskier than ZMMK.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 | ZMMK.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.49% | 0.06% | +2.43% |
Volatility (6M)Calculated over the trailing 6-month period | 9.69% | 0.18% | +9.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.57% | 0.26% | +10.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.94% | 0.34% | +10.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.11% | 0.34% | +14.77% |
ZDV.TO vs. ZMMK.TO - Expense Ratio Comparison
ZDV.TO has a 0.39% expense ratio, which is higher than ZMMK.TO's 0.13% expense ratio.
Dividends
ZDV.TO vs. ZMMK.TO - Dividend Comparison
ZDV.TO's dividend yield for the trailing twelve months is around 2.68%, more than ZMMK.TO's 2.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
ZMMK.TO BMO Money Market Fund ETF Series | 2.53% | 3.02% | 4.66% | 4.98% | 1.95% | 0.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZDV.TO and ZMMK.TO have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZMMK.TO is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZMMK.TO is cheaper with a 0.13% expense ratio, compared with 0.39% for ZDV.TO.
ZDV.TO is categorized as Canada Equities, while ZMMK.TO is Money Market. Their fees differ too: 0.39% for ZDV.TO and 0.13% for ZMMK.TO.
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