ZEA.TO vs. VDU.TO

Last updated Apr 2, 2026

Compare and contrast key facts about BMO MSCI EAFE Index ETF (ZEA.TO) and Vanguard FTSE Developed All Cap ex U.S. Index ETF (VDU.TO).

ZEA.TO and VDU.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZEA.TO is a passively managed fund by BMO that tracks the performance of the MSCI EAFE Index. It was launched on Feb 10, 2014. VDU.TO is a passively managed fund by Vanguard that tracks the performance of the FTSE Developed All Cap ex US Index. It was launched on Aug 2, 2013. Both ZEA.TO and VDU.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

ZEA.TO vs. VDU.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 Vanguard FTSE Developed All Cap ex U.S. Index ETF (VDU.TO). The values are adjusted to include any dividend payments, if applicable.

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ZEA.TO BMO MSCI EAFE Index ETF	3.17%	24.28%	11.56%	16.02%	-8.51%	10.64%	5.13%	16.71%	-6.24%	16.77%
VDU.TO Vanguard FTSE Developed All Cap ex U.S. Index ETF	5.69%	27.97%	11.37%	14.56%	-9.89%	10.23%	7.06%	15.90%	-8.11%	17.64%

Returns By Period

In the year-to-date period, ZEA.TO achieves a 3.17% return, which is significantly lower than VDU.TO's 5.69% return. Both investments have delivered pretty close results over the past 10 years, with ZEA.TO having a 9.44% annualized return and VDU.TO not far ahead at 9.58%.

ZEA.TO

• 1D: 0.56%
• 1M: -4.04%
• YTD: 3.17%
• 6M: 4.65%
• 1Y: 19.13%
• 3Y*: 15.18%
• 5Y*: 10.17%
• 10Y*: 9.44%

VDU.TO

• 1D: 1.59%
• 1M: -3.96%
• YTD: 5.69%
• 6M: 9.14%
• 1Y: 27.17%
• 3Y*: 17.04%
• 5Y*: 10.44%
• 10Y*: 9.58%

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

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

Both ZEA.TO and VDU.TO have an expense ratio of 0.22%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

ZEA.TO

BMO MSCI EAFE Index ETF

VDU.TO

Vanguard FTSE Developed All Cap ex U.S. Index ETF

Return for Risk

ZEA.TO vs. VDU.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: 63
ZEA.TO Sharpe Ratio Rank: 65
ZEA.TO Sortino Ratio Rank: 64
ZEA.TO Omega Ratio Rank: 64
ZEA.TO Calmar Ratio Rank: 63
ZEA.TO Martin Ratio Rank: 61

VDU.TO

VDU.TO Risk / Return Rank: 81
VDU.TO Sharpe Ratio Rank: 82
VDU.TO Sortino Ratio Rank: 81
VDU.TO Omega Ratio Rank: 81
VDU.TO Calmar Ratio Rank: 80
VDU.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.

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

This table presents a comparison of risk-adjusted performance metrics for BMO MSCI EAFE Index ETF (ZEA.TO) and Vanguard FTSE Developed All Cap ex U.S. Index ETF (VDU.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.

	ZEA.TO	VDU.TO	Difference
Sharpe ratio Return per unit of total volatility	1.18	1.62	-0.44
Sortino ratio Return per unit of downside risk	1.67	2.20	-0.52
Omega ratio Gain probability vs. loss probability	1.24	1.32	-0.08
Calmar ratio Return relative to maximum drawdown	1.67	2.34	-0.67
Martin ratio Return relative to average drawdown	6.28	8.95	-2.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current ZEA.TO Sharpe Ratio is 1.18, which is comparable to the VDU.TO Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of ZEA.TO and VDU.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ZEA.TO	VDU.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.18	1.62	-0.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	0.79	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	0.66	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.65	-0.09

Correlation

The correlation between ZEA.TO and VDU.TO is 0.92, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

ZEA.TO vs. VDU.TO - Dividend Comparison

ZEA.TO's dividend yield for the trailing twelve months is around 2.06%, less than VDU.TO's 2.30% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ZEA.TO BMO MSCI EAFE Index ETF	2.06%	2.17%	2.77%	3.00%	3.06%	2.48%	2.72%	2.93%	3.03%	2.39%	2.78%	2.42%
VDU.TO Vanguard FTSE Developed All Cap ex U.S. Index ETF	2.30%	2.61%	2.55%	2.54%	2.14%	2.67%	1.64%	2.48%	2.61%	2.26%	2.41%	2.25%

Drawdowns

ZEA.TO vs. VDU.TO - Drawdown Comparison

The maximum ZEA.TO drawdown since its inception was -27.80%, roughly equal to the maximum VDU.TO drawdown of -29.19%. Use the drawdown chart below to compare losses from any high point for ZEA.TO and VDU.TO.

Drawdown Indicators

	ZEA.TO	VDU.TO	Difference
Max Drawdown Largest peak-to-trough decline	-27.80%	-29.19%	+1.39%
Max Drawdown (1Y) Largest decline over 1 year	-11.09%	-11.47%	+0.38%
Max Drawdown (5Y) Largest decline over 5 years	-23.67%	-24.10%	+0.43%
Max Drawdown (10Y) Largest decline over 10 years	-27.80%	-29.19%	+1.39%
Current Drawdown Current decline from peak	-5.94%	-5.76%	-0.18%
Average Drawdown Average peak-to-trough decline	-4.66%	-4.70%	+0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.95%	2.99%	-0.04%

Volatility

ZEA.TO vs. VDU.TO - Volatility Comparison

The current volatility for BMO MSCI EAFE Index ETF (ZEA.TO) is 6.76%, while Vanguard FTSE Developed All Cap ex U.S. Index ETF (VDU.TO) has a volatility of 7.77%. This indicates that ZEA.TO experiences smaller price fluctuations and is considered to be less risky than VDU.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZEA.TO	VDU.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.76%	7.77%	-1.01%
Volatility (6M) Calculated over the trailing 6-month period	10.23%	11.36%	-1.13%
Volatility (1Y) Calculated over the trailing 1-year period	16.27%	16.81%	-0.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.29%	13.24%	+0.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.80%	14.62%	+0.18%