ZEA.TO vs. RIDH.TO

Last updated Jun 25, 2026

ZEA.TO (BMO MSCI EAFE Index ETF) and RIDH.TO (RBC Quant EAFE Dividend Leaders (CAD Hedged) ETF) are both Foreign Large Cap Equities funds. ZEA.TO is passively managed, while RIDH.TO is actively managed. Over the past 10 years, ZEA.TO returned 10.70%/yr vs 11.80%/yr for RIDH.TO. A 0.51 correlation means they provide meaningful diversification when combined. ZEA.TO charges 0.22%/yr vs 0.54%/yr for RIDH.TO.

Performance

ZEA.TO vs. RIDH.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO MSCI EAFE Index ETF (ZEA.TO) and RBC Quant EAFE Dividend Leaders (CAD Hedged) ETF (RIDH.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ZEA.TO achieves a 12.12% return, which is significantly lower than RIDH.TO's 13.07% return. Over the past 10 years, ZEA.TO has underperformed RIDH.TO with an annualized return of 10.70%, while RIDH.TO has yielded a comparatively higher 11.80% annualized return.

ZEA.TO

• 1D: -0.19%
• 1M: -0.25%
• YTD: 12.12%
• 6M: 12.00%
• 1Y: 24.12%
• 3Y*: 19.22%
• 5Y*: 11.38%
• 10Y*: 10.70%

RIDH.TO

• 1D: -0.05%
• 1M: -0.35%
• YTD: 13.07%
• 6M: 12.50%
• 1Y: 34.27%
• 3Y*: 22.20%
• 5Y*: 14.51%
• 10Y*: 11.80%

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

ZEA.TO vs. RIDH.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ZEA.TO BMO MSCI EAFE Index ETF	12.12%	24.92%	11.58%	16.04%	-8.50%	10.66%	5.15%	16.72%	-6.23%	16.78%
RIDH.TO RBC Quant EAFE Dividend Leaders (CAD Hedged) ETF	13.07%	32.49%	12.69%	17.54%	-3.96%	19.17%	-4.59%	19.55%	-9.26%	9.71%

Correlation

The correlation between ZEA.TO and RIDH.TO is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (10Y) Calculated over the trailing 10-year period	0.49
Correlation (All Time) Calculated using the full available price history since Oct 28, 2014	0.51

The correlation between ZEA.TO and RIDH.TO shifts across timeframes, from 0.44 (5 years) to 0.67 (1 year), reflecting how their relationship changes across market environments.

ZEA.TO vs. RIDH.TO - Sectors Allocation Comparison

Sectors	ZEA.TO	RIDH.TO
Financial Services	24.6%	19.6%
Industrials	19.5%	19.1%
Technology	10.8%	9.8%
Healthcare	10.4%	9.5%
Consumer Cyclical	7.6%	7.7%
Consumer Defensive	6.8%	7.3%
Basic Materials	5.9%	6.9%
Communication Services	4.8%	7.1%
Energy	4.0%	4.4%
Utilities	3.7%	8.0%
Real Estate	1.8%	0.6%

Return for Risk

ZEA.TO vs. RIDH.TO — Risk / Return Rank

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

ZEA.TO

ZEA.TO Risk / Return Rank: 54
ZEA.TO Sharpe Ratio Rank: 55
ZEA.TO Sortino Ratio Rank: 56
ZEA.TO Omega Ratio Rank: 56
ZEA.TO Calmar Ratio Rank: 50
ZEA.TO Martin Ratio Rank: 54

RIDH.TO

RIDH.TO Risk / Return Rank: 90
RIDH.TO Sharpe Ratio Rank: 92
RIDH.TO Sortino Ratio Rank: 92
RIDH.TO Omega Ratio Rank: 92
RIDH.TO Calmar Ratio Rank: 84
RIDH.TO Martin Ratio Rank: 90

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.

ZEA.TO vs. RIDH.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO MSCI EAFE Index ETF (ZEA.TO) and RBC Quant EAFE Dividend Leaders (CAD Hedged) ETF (RIDH.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.

	ZEA.TO	RIDH.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.67	2.85	-1.18
Sortino ratio: Return per unit of downside risk	2.40	3.90	-1.51
Omega ratio: Gain probability vs. loss probability	1.31	1.54	-0.22
Calmar ratio: Return relative to maximum drawdown	2.22	3.97	-1.75
Martin ratio: Return relative to average drawdown	8.56	17.87	-9.32

ZEA.TO vs. RIDH.TO - Sharpe Ratio Comparison

The current ZEA.TO Sharpe Ratio is 1.67, which is lower than the RIDH.TO Sharpe Ratio of 2.85. The chart below compares the historical Sharpe Ratios of ZEA.TO and RIDH.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.

Drawdowns

ZEA.TO vs. RIDH.TO - Drawdown Comparison

The maximum ZEA.TO drawdown since its inception was -27.80%, smaller than the maximum RIDH.TO drawdown of -34.53%. Use the drawdown chart below to compare losses from any high point for ZEA.TO and RIDH.TO.

Drawdown Indicators

	ZEA.TO	RIDH.TO	Difference
Max Drawdown Largest peak-to-trough decline	-27.80%	-34.53%	+6.73%
Max Drawdown (1Y) Largest decline over 1 year	-10.91%	-8.67%	-2.24%
Max Drawdown (3Y) Largest decline over 3 years	-14.11%	-14.33%	+0.22%
Max Drawdown (5Y) Largest decline over 5 years	-23.66%	-15.01%	-8.65%
Max Drawdown (10Y) Largest decline over 10 years	-27.80%	-34.53%	+6.73%
Current Drawdown Current decline from peak	-2.09%	-1.38%	-0.71%
Average Drawdown Average peak-to-trough decline	-4.61%	-4.42%	-0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	1.92%	+0.91%

Volatility

ZEA.TO vs. RIDH.TO - Volatility Comparison

BMO MSCI EAFE Index ETF (ZEA.TO) has a higher volatility of 4.91% compared to RBC Quant EAFE Dividend Leaders (CAD Hedged) ETF (RIDH.TO) at 3.58%. This indicates that ZEA.TO's price experiences larger fluctuations and is considered to be riskier than RIDH.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZEA.TO	RIDH.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.91%	3.58%	+1.33%
Volatility (6M) Calculated over the trailing 6-month period	12.41%	9.81%	+2.60%
Volatility (1Y) Calculated over the trailing 1-year period	14.51%	12.12%	+2.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.63%	13.78%	-0.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.79%	15.84%	-1.05%

ZEA.TO vs. RIDH.TO - Expense Ratio Comparison

ZEA.TO has a 0.22% expense ratio, which is lower than RIDH.TO's 0.54% expense ratio.

Dividends

ZEA.TO vs. RIDH.TO - Dividend Comparison

ZEA.TO's dividend yield for the trailing twelve months is around 1.90%, less than RIDH.TO's 3.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RIDH.TO RBC Quant EAFE Dividend Leaders (CAD Hedged) ETF	3.08%	3.10%	3.69%	3.70%	4.41%	2.63%	3.63%	4.07%	4.55%	2.91%	3.33%	3.28%
ZEA.TO BMO MSCI EAFE Index ETF	1.90%	2.17%	2.78%	3.02%	3.08%	2.49%	2.74%	2.95%	3.05%	2.40%	2.80%	2.43%

Frequently Asked Questions

Can I hold both ZEA.TO and RIDH.TO in my portfolio?

ZEA.TO and RIDH.TO have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZEA.TO or RIDH.TO?

On fees, ZEA.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZEA.TO or RIDH.TO?

ZEA.TO is cheaper with a 0.22% expense ratio, compared with 0.54% for RIDH.TO.

What is the main difference between ZEA.TO and RIDH.TO?

They also come from different issuers: BMO and RBC. Their fees differ too: 0.22% for ZEA.TO and 0.54% for RIDH.TO.