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

ZDY.TO vs. SCHD

Last updated Jun 4, 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 11.07%/yr vs 13.54%/yr for SCHD. A 0.77 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 18.13% return, which is significantly lower than SCHD's 20.03% return. Over the past 10 years, ZDY.TO has underperformed SCHD with an annualized return of 11.07%, while SCHD has yielded a comparatively higher 13.54% annualized 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%

SCHD

1D
0.00%
1M
4.32%
YTD
20.03%
6M
17.69%
1Y
28.28%
3Y*
16.27%
5Y*
11.36%
10Y*
13.54%
*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)		18.13%4.45%26.22%4.58%1.64%22.92%-5.18%16.96%3.22%6.74%
SCHD
Schwab U.S. Dividend Equity ETF		20.52%-0.44%21.25%2.24%3.64%28.70%13.08%21.03%2.45%13.15%

Correlation

The correlation between ZDY.TO and SCHD is 0.70, 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

0.70

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

0.79

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

0.82

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

0.84

Correlation (All Time)
Calculated using the full available price history since Apr 1, 2013

0.77

The correlation between ZDY.TO and SCHD shifts across timeframes, from 0.70 (1 year) to 0.84 (10 years), reflecting how their relationship changes across market environments.

ZDY.TO vs. SCHD - Sectors Allocation Comparison

Sectors
ZDY.TO
SCHD

Technology

29.0%
16.4%

Healthcare

11.9%
18.8%

Energy

9.8%
16.2%

Consumer Defensive

9.5%
19.2%

Financial Services

9.5%
9.3%

Communication Services

6.9%
6.3%

Utilities

6.4%
0.0%

Real Estate

5.6%

-

Consumer Cyclical

5.4%
6.3%

Industrials

4.4%
7.5%

Basic Materials

1.6%
1.2%

Technology

ZDY.TO
29.0%
SCHD
16.4%

Healthcare

ZDY.TO
11.9%
SCHD
18.8%

Energy

ZDY.TO
9.8%
SCHD
16.2%

Consumer Defensive

ZDY.TO
9.5%
SCHD
19.2%

Financial Services

ZDY.TO
9.5%
SCHD
9.3%

Communication Services

ZDY.TO
6.9%
SCHD
6.3%

Utilities

ZDY.TO
6.4%
SCHD
0.0%

Real Estate

ZDY.TO
5.6%
SCHD

-

Consumer Cyclical

ZDY.TO
5.4%
SCHD
6.3%

Industrials

ZDY.TO
4.4%
SCHD
7.5%

Basic Materials

ZDY.TO
1.6%
SCHD
1.2%

Compare stocks, funds, or ETFs

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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: 7171
Overall Rank
ZDY.TO Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
ZDY.TO Sortino Ratio Rank: 6262
Sortino Ratio Rank
ZDY.TO Omega Ratio Rank: 7272
Omega Ratio Rank
ZDY.TO Calmar Ratio Rank: 7878
Calmar Ratio Rank
ZDY.TO Martin Ratio Rank: 7373
Martin Ratio Rank
SCHD
SCHD Risk / Return Rank: 8080
Overall Rank
SCHD Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
SCHD Sortino Ratio Rank: 8484
Sortino Ratio Rank
SCHD Omega Ratio Rank: 7373
Omega Ratio Rank
SCHD Calmar Ratio Rank: 9191
Calmar Ratio Rank
SCHD Martin Ratio Rank: 7575
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.

ZDY.TOSCHDDifference
Sharpe ratioReturn per unit of total volatility
2.28
2.57

-0.28

Sortino ratioReturn per unit of downside risk
2.97
3.98

-1.01

Omega ratioGain probability vs. loss probability

1.44

1.47

-0.03

Calmar ratioReturn relative to maximum drawdown

3.98

6.61

-2.63

Martin ratioReturn relative to average drawdown

13.78

19.13

-5.35

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. SCHD - Sharpe Ratio Comparison

The current ZDY.TO Sharpe Ratio is 2.28, which is comparable to the SCHD Sharpe Ratio of 2.57. 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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Sharpe Ratios by Period

ZDY.TOSCHDDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.28

2.57

-0.28

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.12

0.90

+0.22

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.73

0.90

-0.16

Sharpe Ratio (All Time)

Calculated using the full available price history

0.95

1.12

-0.17

Drawdowns

ZDY.TO vs. SCHD - Drawdown Comparison

The maximum ZDY.TO drawdown since its inception was -33.01%, which is greater than SCHD's maximum drawdown of -26.93%. 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

-33.01%

-26.93%

-6.08%

Max Drawdown (1Y)

Largest decline over 1 year

-6.78%

-4.30%

-2.48%

Max Drawdown (3Y)

Largest decline over 3 years

-15.32%

-15.30%

-0.02%

Max Drawdown (5Y)

Largest decline over 5 years

-15.32%

-15.30%

-0.02%

Max Drawdown (10Y)

Largest decline over 10 years

-33.01%

-26.93%

-6.08%

Current Drawdown

Current decline from peak

-0.19%

-1.22%

+1.03%

Average Drawdown

Average peak-to-trough decline

-3.30%

-2.86%

-0.44%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.96%

1.48%

+0.48%

Volatility

ZDY.TO vs. SCHD - Volatility Comparison

BMO US Dividend ETF (CAD) (ZDY.TO) has a higher volatility of 4.73% compared to Schwab U.S. Dividend Equity ETF (SCHD) at 2.63%. This indicates that ZDY.TO's price experiences larger fluctuations and is considered to be riskier than SCHD based on this measure. 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

4.73%

2.63%

+2.10%

Volatility (6M)

Calculated over the trailing 6-month period

9.85%

8.23%

+1.62%

Volatility (1Y)

Calculated over the trailing 1-year period

11.85%

11.10%

+0.75%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.17%

12.63%

-0.46%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.18%

15.18%

0.00%

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 1.46%, less than SCHD's 3.26% yield.

PositionTTM20252024202320222021202020192018201720162015
SCHD
Schwab U.S. Dividend Equity ETF		3.26%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)		1.46%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

ZDY.TO and SCHD have a correlation of 0.70, 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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