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ZDY.TO vs. SCHD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZDY.TO vs. SCHD

Last updated Jun 25, 2026

ZDY.TO (BMO US Dividend ETF (CAD)) and SCHD (Schwab U.S. Dividend Equity ETF) are both Dividend funds. ZDY.TO is actively managed, while SCHD is passively managed. Over the past 10 years, ZDY.TO returned 10.58%/yr vs 13.77%/yr for SCHD. A 0.62 correlation means they provide meaningful diversification when combined. ZDY.TO charges 0.30%/yr vs 0.06%/yr for SCHD.

Performance

ZDY.TO vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO US Dividend ETF (CAD) (ZDY.TO) and Schwab U.S. Dividend Equity ETF (SCHD). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

ZDY.TO is traded in CAD, while SCHD is traded in USD. To make them comparable, the SCHD values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ZDY.TO achieves a 18.51% return, which is significantly lower than SCHD's 21.02% return. Over the past 10 years, ZDY.TO has underperformed SCHD with an annualized return of 10.58%, while SCHD has yielded a comparatively higher 13.77% annualized return.

ZDY.TO

1D
-0.36%
1M
0.13%
YTD
18.51%
6M
11.71%
1Y
17.65%
3Y*
16.82%
5Y*
12.29%
10Y*
10.58%

SCHD

1D
-0.57%
1M
-0.33%
YTD
21.02%
6M
20.09%
1Y
27.54%
3Y*
17.25%
5Y*
11.50%
10Y*
13.77%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ZDY.TO vs. SCHD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ZDY.TO
BMO US Dividend ETF (CAD)		18.51%-0.87%26.24%4.58%1.64%22.92%-5.18%16.94%3.23%6.74%
SCHD
Schwab U.S. Dividend Equity ETF		21.00%-0.42%21.11%2.06%2.87%29.81%12.30%22.05%2.38%12.66%

Correlation

The correlation between ZDY.TO and SCHD is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.62

Correlation (3Y)
Calculated over the trailing 3-year period

0.63

Correlation (5Y)
Calculated over the trailing 5-year period

0.64

Correlation (10Y)
Calculated over the trailing 10-year period

0.65

Correlation (All Time)
Calculated using the full available price history since Mar 28, 2013

0.62

The correlation between ZDY.TO and SCHD has been stable across timeframes, ranging from 0.62 to 0.65 - a consistent structural relationship.

ZDY.TO vs. SCHD - Sectors Allocation Comparison

Sectors
ZDY.TO
SCHD

Technology

34.6%
19.4%

Healthcare

11.7%
18.4%

Financial Services

9.1%
9.1%

Energy

8.4%
14.6%

Consumer Defensive

7.6%
18.5%

Communication Services

6.5%
6.0%

Utilities

5.9%
0.0%

Real Estate

5.3%

-

Consumer Cyclical

4.8%
6.7%

Industrials

4.2%
7.4%

Basic Materials

1.5%
1.2%

Technology

ZDY.TO
34.6%
SCHD
19.4%

Healthcare

ZDY.TO
11.7%
SCHD
18.4%

Financial Services

ZDY.TO
9.1%
SCHD
9.1%

Energy

ZDY.TO
8.4%
SCHD
14.6%

Consumer Defensive

ZDY.TO
7.6%
SCHD
18.5%

Communication Services

ZDY.TO
6.5%
SCHD
6.0%

Utilities

ZDY.TO
5.9%
SCHD
0.0%

Real Estate

ZDY.TO
5.3%
SCHD

-

Consumer Cyclical

ZDY.TO
4.8%
SCHD
6.7%

Industrials

ZDY.TO
4.2%
SCHD
7.4%

Basic Materials

ZDY.TO
1.5%
SCHD
1.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

BMO US Dividend ETF (CAD)

Schwab U.S. Dividend Equity ETF

Often compared with ZDY.TO:
ZDY.TO vs. VDY.TOZDY.TO vs. ZDV.TOZDY.TO vs. ZLU.TOZDY.TO vs. VIGZDY.TO vs. ZGRO.TOZDY.TO vs. XEI.TOZDY.TO vs. TPU.TO
Often compared with SCHD:
SCHD vs. VOOSCHD vs. VYMSCHD vs. SPYSCHD vs. SCHGSCHD vs. JEPISCHD vs. FDVVSCHD vs. VIG

Return for Risk

ZDY.TO vs. SCHD — 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: 3838
Overall Rank
ZDY.TO Sharpe Ratio Rank: 4343
Sharpe Ratio Rank
ZDY.TO Sortino Ratio Rank: 3737
Sortino Ratio Rank
ZDY.TO Omega Ratio Rank: 4747
Omega Ratio Rank
ZDY.TO Calmar Ratio Rank: 3333
Calmar Ratio Rank
ZDY.TO Martin Ratio Rank: 3030
Martin Ratio Rank
SCHD
SCHD Risk / Return Rank: 7777
Overall Rank
SCHD Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
SCHD Sortino Ratio Rank: 8080
Sortino Ratio Rank
SCHD Omega Ratio Rank: 7070
Omega Ratio Rank
SCHD Calmar Ratio Rank: 9090
Calmar Ratio Rank
SCHD Martin Ratio Rank: 7373
Martin Ratio Rank
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. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO US Dividend ETF (CAD) (ZDY.TO) and Schwab U.S. Dividend Equity ETF (SCHD). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

ZDY.TOSCHDDifference
Sharpe ratioReturn per unit of total volatility
1.37
2.32

-0.95

Sortino ratioReturn per unit of downside risk
1.77
3.55

-1.77

Omega ratioGain probability vs. loss probability

1.27

1.40

-0.13

Calmar ratioReturn relative to maximum drawdown

1.54

6.68

-5.14

Martin ratioReturn relative to average drawdown

3.94

16.64

-12.70

ZDY.TO vs. SCHD - Sharpe Ratio Comparison

The current ZDY.TO Sharpe Ratio is 1.37, which is lower than the SCHD Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of ZDY.TO and SCHD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

ZDY.TO vs. SCHD - Drawdown Comparison

The maximum ZDY.TO drawdown since its inception was -32.99%, which is greater than SCHD's maximum drawdown of -27.31%. Use the drawdown chart below to compare losses from any high point for ZDY.TO and SCHD.

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Drawdown Indicators

ZDY.TOSCHDDifference

Max Drawdown

Largest peak-to-trough decline

-32.99%

-27.31%

-5.68%

Max Drawdown (1Y)

Largest decline over 1 year

-11.53%

-4.14%

-7.39%

Max Drawdown (3Y)

Largest decline over 3 years

-15.33%

-15.24%

-0.09%

Max Drawdown (5Y)

Largest decline over 5 years

-15.33%

-15.24%

-0.09%

Max Drawdown (10Y)

Largest decline over 10 years

-32.99%

-27.31%

-5.68%

Current Drawdown

Current decline from peak

-0.49%

-1.70%

+1.21%

Average Drawdown

Average peak-to-trough decline

-3.41%

-3.04%

-0.37%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.49%

1.66%

+2.83%

Volatility

ZDY.TO vs. SCHD - Volatility Comparison

BMO US Dividend ETF (CAD) (ZDY.TO) and Schwab U.S. Dividend Equity ETF (SCHD) have volatilities of 3.60% and 3.46%, 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.

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Volatility by Period

ZDY.TOSCHDDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.60%

3.46%

+0.14%

Volatility (6M)

Calculated over the trailing 6-month period

11.22%

8.75%

+2.47%

Volatility (1Y)

Calculated over the trailing 1-year period

12.95%

11.92%

+1.03%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.43%

15.56%

-3.13%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.29%

17.82%

-2.53%

ZDY.TO vs. SCHD - Expense Ratio Comparison

ZDY.TO has a 0.30% expense ratio, which is higher than SCHD's 0.06% expense ratio.

Dividends

ZDY.TO vs. SCHD - Dividend Comparison

ZDY.TO's dividend yield for the trailing twelve months is around 1.49%, less than SCHD's 3.33% yield.

PositionTTM20252024202320222021202020192018201720162015
SCHD
Schwab U.S. Dividend Equity ETF		3.33%3.82%3.64%3.49%3.39%2.78%3.16%2.98%3.06%2.63%2.89%2.97%
ZDY.TO
BMO US Dividend ETF (CAD)		1.49%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

ZDY.TO and SCHD have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SCHD is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SCHD is cheaper with a 0.06% expense ratio, compared with 0.30% for ZDY.TO.

They also come from different issuers: BMO and Charles Schwab. Their fees differ too: 0.30% for ZDY.TO and 0.06% for SCHD.

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