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

ZDY.TO vs. ZZZD.TO

Last updated Jul 16, 2026
Documentation

ZDY.TO (BMO US Dividend ETF (CAD)) and ZZZD.TO (BMO Tactical Dividend ETF Fund) are both Dividend funds from BMO. Both are actively managed. Over the past 5 years, ZDY.TO returned 11.14%/yr vs 6.96%/yr for ZZZD.TO. At a 0.26 correlation, their price movements are largely independent.

Performance

ZDY.TO vs. ZZZD.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 BMO Tactical Dividend ETF Fund (ZZZD.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ZDY.TO achieves a 17.03% return, which is significantly higher than ZZZD.TO's 11.24% return.

ZDY.TO

1D
-0.53%
1M
-1.23%
6M
13.43%
YTD
17.03%
1Y
14.47%
3Y*
15.39%
5Y*
11.14%
10Y*
9.76%

ZZZD.TO

1D
0.53%
1M
-0.48%
6M
10.53%
YTD
11.24%
1Y
15.16%
3Y*
10.47%
5Y*
6.96%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)2025202420232022202120202019
ZDY.TO
BMO US Dividend ETF (CAD)		17.03%-0.87%26.24%4.58%1.64%22.92%-5.18%16.39%
ZZZD.TO
BMO Tactical Dividend ETF Fund		11.24%10.01%3.96%10.10%-0.86%5.24%-9.74%9.67%

Correlation

The correlation between ZDY.TO and ZZZD.TO is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.31

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

0.22

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

0.26

Correlation (All Time)
Calculated using the full available price history since Jan 11, 2019

0.26

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

Sectors
ZDY.TO
ZZZD.TO

Technology

33.1%
16.4%

Healthcare

12.6%
12.3%

Financial Services

9.9%
16.3%

Consumer Defensive

7.6%
4.6%

Energy

6.2%
10.2%

Communication Services

6.2%
10.5%

Utilities

6.0%
12.4%

Real Estate

5.6%
1.2%

Consumer Cyclical

4.9%
4.2%

Industrials

4.5%
7.6%

Basic Materials

1.5%
4.4%

Technology

ZDY.TO
33.1%
ZZZD.TO
16.4%

Healthcare

ZDY.TO
12.6%
ZZZD.TO
12.3%

Financial Services

ZDY.TO
9.9%
ZZZD.TO
16.3%

Consumer Defensive

ZDY.TO
7.6%
ZZZD.TO
4.6%

Energy

ZDY.TO
6.2%
ZZZD.TO
10.2%

Communication Services

ZDY.TO
6.2%
ZZZD.TO
10.5%

Utilities

ZDY.TO
6.0%
ZZZD.TO
12.4%

Real Estate

ZDY.TO
5.6%
ZZZD.TO
1.2%

Consumer Cyclical

ZDY.TO
4.9%
ZZZD.TO
4.2%

Industrials

ZDY.TO
4.5%
ZZZD.TO
7.6%

Basic Materials

ZDY.TO
1.5%
ZZZD.TO
4.4%

Compare stocks, funds, or ETFs

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BMO US Dividend ETF (CAD)

BMO Tactical Dividend ETF Fund

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Return for Risk

ZDY.TO vs. ZZZD.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: 3434
Overall Rank
ZDY.TO Sharpe Ratio Rank: 3838
Sharpe Ratio Rank
ZDY.TO Sortino Ratio Rank: 3333
Sortino Ratio Rank
ZDY.TO Omega Ratio Rank: 4242
Omega Ratio Rank
ZDY.TO Calmar Ratio Rank: 3030
Calmar Ratio Rank
ZDY.TO Martin Ratio Rank: 2929
Martin Ratio Rank
ZZZD.TO
ZZZD.TO Risk / Return Rank: 8181
Overall Rank
ZZZD.TO Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
ZZZD.TO Sortino Ratio Rank: 7575
Sortino Ratio Rank
ZZZD.TO Omega Ratio Rank: 7474
Omega Ratio Rank
ZZZD.TO Calmar Ratio Rank: 9494
Calmar Ratio Rank
ZZZD.TO Martin Ratio Rank: 9393
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. ZZZD.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO US Dividend ETF (CAD) (ZDY.TO) and BMO Tactical Dividend ETF Fund (ZZZD.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.

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.TOZZZD.TODifference
Sharpe ratioReturn per unit of total volatility
1.13
1.80

-0.67

Sortino ratioReturn per unit of downside risk
1.48
2.71

-1.23

Omega ratioGain probability vs. loss probability

1.23

1.35

-0.12

Calmar ratioReturn relative to maximum drawdown

1.26

5.61

-4.35

Martin ratioReturn relative to average drawdown

3.23

18.21

-14.99

ZDY.TO vs. ZZZD.TO - Sharpe Ratio Comparison

The current ZDY.TO Sharpe Ratio is 1.13, which is lower than the ZZZD.TO Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of ZDY.TO and ZZZD.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.

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Drawdowns

ZDY.TO vs. ZZZD.TO - Drawdown Comparison

The maximum ZDY.TO drawdown since its inception was -32.99%, which is greater than ZZZD.TO's maximum drawdown of -22.28%. Use the drawdown chart below to compare losses from any high point for ZDY.TO and ZZZD.TO.

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Drawdown Indicators

ZDY.TOZZZD.TODifference

Max Drawdown

Largest peak-to-trough decline

-32.99%

-22.28%

-10.71%

Max Drawdown (1Y)

Largest decline over 1 year

-11.53%

-2.72%

-8.81%

Max Drawdown (3Y)

Largest decline over 3 years

-15.33%

-9.21%

-6.12%

Max Drawdown (5Y)

Largest decline over 5 years

-15.33%

-14.72%

-0.61%

Max Drawdown (10Y)

Largest decline over 10 years

-32.99%

—

—

Current Drawdown

Current decline from peak

-2.14%

-0.56%

-1.58%

Average Drawdown

Average peak-to-trough decline

-3.40%

-4.67%

+1.27%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.49%

0.84%

+3.65%

Volatility

ZDY.TO vs. ZZZD.TO - Volatility Comparison

The current volatility for BMO US Dividend ETF (CAD) (ZDY.TO) is 2.26%, while BMO Tactical Dividend ETF Fund (ZZZD.TO) has a volatility of 2.48%. This indicates that ZDY.TO experiences smaller price fluctuations and is considered to be less risky than ZZZD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ZDY.TOZZZD.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.26%

2.48%

-0.22%

Volatility (6M)

Calculated over the trailing 6-month period

8.66%

6.50%

+2.16%

Volatility (1Y)

Calculated over the trailing 1-year period

12.90%

8.47%

+4.43%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.44%

11.17%

+1.27%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.27%

12.64%

+2.63%

Dividends

ZDY.TO vs. ZZZD.TO - Dividend Comparison

ZDY.TO's dividend yield for the trailing twelve months is around 1.51%, less than ZZZD.TO's 3.73% yield.

PositionTTM20252024202320222021202020192018201720162015
ZDY.TO
BMO US Dividend ETF (CAD)		1.51%1.80%1.97%2.43%2.48%2.33%3.65%3.02%2.80%2.63%2.46%2.54%
ZZZD.TO
BMO Tactical Dividend ETF Fund		3.73%4.07%4.29%4.28%4.51%4.27%4.09%3.11%0.00%0.00%0.00%0.00%

Frequently Asked Questions

ZDY.TO and ZZZD.TO have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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