ZDY.TO vs. CRT-UN.TO

Last updated Jun 9, 2026

ZDY.TO (BMO US Dividend ETF (CAD)) is Dividend fund actively managed by BMO, while CRT-UN.TO (CT Real Estate Investment Trust) is a stock. Over the past 10 years, ZDY.TO returned 10.44%/yr vs 7.63%/yr for CRT-UN.TO. At a 0.26 correlation, their price movements are largely independent.

Performance

ZDY.TO vs. CRT-UN.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO US Dividend ETF (CAD) (ZDY.TO) and CT Real Estate Investment Trust (CRT-UN.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ZDY.TO achieves a 16.12% return, which is significantly higher than CRT-UN.TO's 11.59% return. Over the past 10 years, ZDY.TO has outperformed CRT-UN.TO with an annualized return of 10.44%, while CRT-UN.TO has yielded a comparatively lower 7.63% annualized return.

ZDY.TO

• 1D: -0.03%
• 1M: 4.72%
• YTD: 16.12%
• 6M: 4.01%
• 1Y: 17.88%
• 3Y*: 15.55%
• 5Y*: 12.01%
• 10Y*: 10.44%

CRT-UN.TO

• 1D: -0.11%
• 1M: 1.42%
• YTD: 11.59%
• 6M: 15.18%
• 1Y: 16.30%
• 3Y*: 12.39%
• 5Y*: 7.05%
• 10Y*: 7.63%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ZDY.TO vs. CRT-UN.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ZDY.TO BMO US Dividend ETF (CAD)	16.12%	-0.87%	26.24%	4.58%	1.64%	22.92%	-5.18%	16.94%	3.23%	6.74%
CRT-UN.TO CT Real Estate Investment Trust	11.59%	20.98%	3.91%	-0.26%	-5.16%	16.12%	2.73%	47.59%	-15.85%	1.45%

Correlation

The correlation between ZDY.TO and CRT-UN.TO is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (10Y) Calculated over the trailing 10-year period	0.25
Correlation (All Time) Calculated using the full available price history since Oct 24, 2013	0.26

The correlation between ZDY.TO and CRT-UN.TO shifts across timeframes, from 0.21 (1 year) to 0.32 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

ZDY.TO vs. CRT-UN.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ZDY.TO

ZDY.TO Risk / Return Rank: 39
ZDY.TO Sharpe Ratio Rank: 44
ZDY.TO Sortino Ratio Rank: 38
ZDY.TO Omega Ratio Rank: 49
ZDY.TO Calmar Ratio Rank: 35
ZDY.TO Martin Ratio Rank: 30

CRT-UN.TO

CRT-UN.TO Risk / Return Rank: 77
CRT-UN.TO Sharpe Ratio Rank: 79
CRT-UN.TO Sortino Ratio Rank: 75
CRT-UN.TO Omega Ratio Rank: 71
CRT-UN.TO Calmar Ratio Rank: 81
CRT-UN.TO Martin Ratio Rank: 82

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ZDY.TO vs. CRT-UN.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO US Dividend ETF (CAD) (ZDY.TO) and CT Real Estate Investment Trust (CRT-UN.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.

	ZDY.TO	CRT-UN.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.40	1.29	+0.11
Sortino ratio: Return per unit of downside risk	1.79	1.93	-0.14
Omega ratio: Gain probability vs. loss probability	1.28	1.22	+0.06
Calmar ratio: Return relative to maximum drawdown	1.56	2.63	-1.07
Martin ratio: Return relative to average drawdown	4.00	6.86	-2.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZDY.TO vs. CRT-UN.TO - Sharpe Ratio Comparison

The current ZDY.TO Sharpe Ratio is 1.40, which is comparable to the CRT-UN.TO Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of ZDY.TO and CRT-UN.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ZDY.TO	CRT-UN.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.40	1.29	+0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.97	0.40	+0.57
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	0.38	+0.31
Sharpe Ratio (All Time) Calculated using the full available price history	0.89	0.54	+0.35

Drawdowns

ZDY.TO vs. CRT-UN.TO - Drawdown Comparison

The maximum ZDY.TO drawdown since its inception was -32.99%, smaller than the maximum CRT-UN.TO drawdown of -45.88%. Use the drawdown chart below to compare losses from any high point for ZDY.TO and CRT-UN.TO.

Drawdown Indicators

	ZDY.TO	CRT-UN.TO	Difference
Max Drawdown Largest peak-to-trough decline	-32.99%	-45.88%	+12.89%
Max Drawdown (1Y) Largest decline over 1 year	-11.53%	-6.24%	-5.29%
Max Drawdown (3Y) Largest decline over 3 years	-15.33%	-17.38%	+2.05%
Max Drawdown (5Y) Largest decline over 5 years	-15.33%	-24.70%	+9.37%
Max Drawdown (10Y) Largest decline over 10 years	-32.99%	-45.88%	+12.89%
Current Drawdown Current decline from peak	-1.92%	-0.84%	-1.08%
Average Drawdown Average peak-to-trough decline	-3.42%	-6.26%	+2.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.48%	2.38%	+2.10%

Volatility

ZDY.TO vs. CRT-UN.TO - Volatility Comparison

BMO US Dividend ETF (CAD) (ZDY.TO) has a higher volatility of 5.05% compared to CT Real Estate Investment Trust (CRT-UN.TO) at 2.78%. This indicates that ZDY.TO's price experiences larger fluctuations and is considered to be riskier than CRT-UN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZDY.TO	CRT-UN.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.05%	2.78%	+2.27%
Volatility (6M) Calculated over the trailing 6-month period	11.12%	9.36%	+1.76%
Volatility (1Y) Calculated over the trailing 1-year period	12.86%	12.74%	+0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.41%	17.64%	-5.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.29%	20.22%	-4.93%

Dividends

ZDY.TO vs. CRT-UN.TO - Dividend Comparison

ZDY.TO's dividend yield for the trailing twelve months is around 1.52%, less than CRT-UN.TO's 5.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CRT-UN.TO CT Real Estate Investment Trust	5.35%	5.77%	6.40%	6.04%	5.48%	4.76%	5.08%	4.71%	6.34%	4.84%	4.54%	5.11%
ZDY.TO BMO US Dividend ETF (CAD)	1.52%	1.80%	1.97%	2.43%	2.48%	2.33%	3.65%	3.02%	2.80%	2.63%	2.46%	2.54%

Frequently Asked Questions

Can I hold both ZDY.TO and CRT-UN.TO in my portfolio?

ZDY.TO and CRT-UN.TO have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.