ZDY.TO vs. DXU.TO

Last updated Jun 4, 2026

ZDY.TO (BMO US Dividend ETF (CAD)) and DXU.TO (Dynamic Active U.S. Dividend ETF) are both Dividend funds. Both are actively managed. Over the past 5 years, ZDY.TO returned 13.55%/yr vs 14.84%/yr for DXU.TO. A 0.52 correlation means they provide meaningful diversification when combined. ZDY.TO charges 0.30%/yr vs 0.75%/yr for DXU.TO.

Performance

ZDY.TO vs. DXU.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 Dynamic Active U.S. Dividend ETF (DXU.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 18.13% return, which is significantly lower than DXU.TO's 27.69% return.

ZDY.TO

• 1D: -0.12%
• 1M: 9.13%
• YTD: 18.13%
• 6M: 10.45%
• 1Y: 26.90%
• 3Y*: 18.28%
• 5Y*: 13.55%
• 10Y*: 11.07%

DXU.TO

• 1D: 0.40%
• 1M: 14.78%
• YTD: 27.69%
• 6M: 24.84%
• 1Y: 44.54%
• 3Y*: 28.47%
• 5Y*: 14.84%
• 10Y*: —

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

ZDY.TO vs. DXU.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ZDY.TO BMO US Dividend ETF (CAD)	18.13%	4.45%	26.22%	4.58%	1.64%	22.92%	-5.18%	16.96%	3.22%	6.46%
DXU.TO Dynamic Active U.S. Dividend ETF	27.69%	9.36%	38.05%	9.43%	-14.91%	14.93%	24.17%	23.41%	12.64%	8.14%

Correlation

The correlation between ZDY.TO and DXU.TO is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (All Time) Calculated using the full available price history since Oct 4, 2017	0.52

The correlation between ZDY.TO and DXU.TO shifts across timeframes, from 0.43 (1 year) to 0.53 (5 years), reflecting how their relationship changes across market environments.

ZDY.TO vs. DXU.TO - Sectors Allocation Comparison

Sectors	ZDY.TO	DXU.TO
Technology	29.0%	25.3%
Healthcare	11.9%	5.0%
Energy	9.8%	2.0%
Consumer Defensive	9.5%	-
Financial Services	9.5%	15.5%
Communication Services	6.9%	3.0%
Utilities	6.4%	-
Real Estate	5.6%	-
Consumer Cyclical	5.4%	8.1%
Industrials	4.4%	34.7%
Basic Materials	1.6%	6.5%

Return for Risk

ZDY.TO vs. DXU.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: 71
ZDY.TO Sharpe Ratio Rank: 68
ZDY.TO Sortino Ratio Rank: 62
ZDY.TO Omega Ratio Rank: 72
ZDY.TO Calmar Ratio Rank: 78
ZDY.TO Martin Ratio Rank: 73

DXU.TO

DXU.TO Risk / Return Rank: 78
DXU.TO Sharpe Ratio Rank: 76
DXU.TO Sortino Ratio Rank: 72
DXU.TO Omega Ratio Rank: 76
DXU.TO Calmar Ratio Rank: 87
DXU.TO Martin Ratio Rank: 79

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. DXU.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO US Dividend ETF (CAD) (ZDY.TO) and Dynamic Active U.S. Dividend ETF (DXU.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	DXU.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.28	2.46	-0.18
Sortino ratio: Return per unit of downside risk	2.97	3.24	-0.27
Omega ratio: Gain probability vs. loss probability	1.44	1.45	-0.01
Calmar ratio: Return relative to maximum drawdown	3.98	4.89	-0.91
Martin ratio: Return relative to average drawdown	13.78	15.14	-1.36
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. DXU.TO - Sharpe Ratio Comparison

The current ZDY.TO Sharpe Ratio is 2.28, which is comparable to the DXU.TO Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of ZDY.TO and DXU.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	DXU.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.28	2.46	-0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.12	0.82	+0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.95	0.88	+0.08

Drawdowns

ZDY.TO vs. DXU.TO - Drawdown Comparison

The maximum ZDY.TO drawdown since its inception was -33.01%, which is greater than DXU.TO's maximum drawdown of -27.05%. Use the drawdown chart below to compare losses from any high point for ZDY.TO and DXU.TO.

Drawdown Indicators

	ZDY.TO	DXU.TO	Difference
Max Drawdown Largest peak-to-trough decline	-33.01%	-27.05%	-5.96%
Max Drawdown (1Y) Largest decline over 1 year	-6.78%	-9.15%	+2.37%
Max Drawdown (3Y) Largest decline over 3 years	-15.32%	-23.80%	+8.48%
Max Drawdown (5Y) Largest decline over 5 years	-15.32%	-24.83%	+9.51%
Max Drawdown (10Y) Largest decline over 10 years	-33.01%	—	—
Current Drawdown Current decline from peak	-0.19%	0.00%	-0.19%
Average Drawdown Average peak-to-trough decline	-3.30%	-6.47%	+3.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.96%	2.95%	-0.99%

Volatility

ZDY.TO vs. DXU.TO - Volatility Comparison

BMO US Dividend ETF (CAD) (ZDY.TO) and Dynamic Active U.S. Dividend ETF (DXU.TO) have volatilities of 4.73% and 4.83%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZDY.TO	DXU.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.73%	4.83%	-0.10%
Volatility (6M) Calculated over the trailing 6-month period	9.85%	14.07%	-4.22%
Volatility (1Y) Calculated over the trailing 1-year period	11.85%	18.19%	-6.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.17%	18.16%	-5.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.18%	19.34%	-4.16%

ZDY.TO vs. DXU.TO - Expense Ratio Comparison

ZDY.TO has a 0.30% expense ratio, which is lower than DXU.TO's 0.75% expense ratio.

Dividends

ZDY.TO vs. DXU.TO - Dividend Comparison

ZDY.TO's dividend yield for the trailing twelve months is around 1.46%, while DXU.TO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DXU.TO Dynamic Active U.S. Dividend ETF	0.00%	0.00%	0.00%	0.00%	0.22%	0.00%	0.00%	0.00%	0.00%	0.10%	0.00%	0.00%
ZDY.TO BMO US Dividend ETF (CAD)	1.46%	1.72%	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 DXU.TO in my portfolio?

ZDY.TO and DXU.TO have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZDY.TO or DXU.TO?

On fees, ZDY.TO is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZDY.TO or DXU.TO?

ZDY.TO is cheaper with a 0.30% expense ratio, compared with 0.75% for DXU.TO.

What is the main difference between ZDY.TO and DXU.TO?

They also come from different issuers: BMO and Dynamic. Their fees differ too: 0.30% for ZDY.TO and 0.75% for DXU.TO.