ZEQ.TO vs. RPD.TO
ZEQ.TO (BMO MSCI Europe High Quality Hedged to CAD Index ETF) and RPD.TO (RBC Quant European Dividend Leaders ETF) are both Europe Equities funds. ZEQ.TO is passively managed, while RPD.TO is actively managed. Over the past 10 years, ZEQ.TO returned 8.57%/yr vs 10.09%/yr for RPD.TO. At a 0.39 correlation, their price movements are largely independent.
Performance
ZEQ.TO vs. RPD.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ZEQ.TO achieves a 5.79% return, which is significantly lower than RPD.TO's 15.72% return. Over the past 10 years, ZEQ.TO has underperformed RPD.TO with an annualized return of 8.57%, while RPD.TO has yielded a comparatively higher 10.09% annualized return.
ZEQ.TO
- 1D
- -0.34%
- 1M
- 0.72%
- 6M
- 1.24%
- YTD
- 5.79%
- 1Y
- 10.02%
- 3Y*
- 6.66%
- 5Y*
- 4.73%
- 10Y*
- 8.57%
RPD.TO
- 1D
- -0.67%
- 1M
- -1.11%
- 6M
- 10.40%
- YTD
- 15.72%
- 1Y
- 32.57%
- 3Y*
- 23.91%
- 5Y*
- 14.80%
- 10Y*
- 10.09%
ZEQ.TO vs. RPD.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZEQ.TO BMO MSCI Europe High Quality Hedged to CAD Index ETF | 5.79% | 7.89% | 2.54% | 15.35% | -12.26% | 25.16% | 6.22% | 33.27% | -7.03% | 15.45% |
RPD.TO RBC Quant European Dividend Leaders ETF | 15.72% | 39.81% | 9.01% | 20.93% | -10.71% | 17.45% | -1.87% | 10.32% | -9.50% | 11.02% |
Correlation
The correlation between ZEQ.TO and RPD.TO is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.40 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Oct 31, 2014 | 0.39 |
Over the past year, ZEQ.TO and RPD.TO have become more correlated (0.69) than their long-term average of 0.39, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ZEQ.TO vs. RPD.TO — Risk / Return Rank
ZEQ.TO
RPD.TO
ZEQ.TO vs. RPD.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO MSCI Europe High Quality Hedged to CAD Index ETF (ZEQ.TO) and RBC Quant European Dividend Leaders ETF (RPD.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.
| ZEQ.TO | RPD.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.59 | ||
| Sortino ratioReturn per unit of downside risk | -2.13 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.43 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | 3.45 | -2.54 |
| Martin ratioReturn relative to average drawdown | 3.06 | 13.15 | -10.09 |
Loading charts...
Drawdowns
ZEQ.TO vs. RPD.TO - Drawdown Comparison
The maximum ZEQ.TO drawdown since its inception was -29.14%, smaller than the maximum RPD.TO drawdown of -34.70%. Use the drawdown chart below to compare losses from any high point for ZEQ.TO and RPD.TO.
Loading charts...
Drawdown Indicators
| ZEQ.TO | RPD.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.14% | -34.70% | +5.56% |
Max Drawdown (1Y)Largest decline over 1 year | -10.97% | -9.48% | -1.49% |
Max Drawdown (3Y)Largest decline over 3 years | -14.47% | -13.77% | -0.70% |
Max Drawdown (5Y)Largest decline over 5 years | -20.54% | -26.48% | +5.94% |
Max Drawdown (10Y)Largest decline over 10 years | -29.14% | -34.70% | +5.56% |
Current DrawdownCurrent decline from peak | -2.84% | -2.91% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -4.29% | -6.09% | +1.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.28% | 2.48% | +0.80% |
Volatility
ZEQ.TO vs. RPD.TO - Volatility Comparison
The current volatility for BMO MSCI Europe High Quality Hedged to CAD Index ETF (ZEQ.TO) is 2.49%, while RBC Quant European Dividend Leaders ETF (RPD.TO) has a volatility of 3.23%. This indicates that ZEQ.TO experiences smaller price fluctuations and is considered to be less risky than RPD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ZEQ.TO | RPD.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.49% | 3.23% | -0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 11.07% | 11.79% | -0.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.32% | 14.00% | -0.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.24% | 14.77% | -0.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.37% | 15.54% | -0.17% |
Dividends
ZEQ.TO vs. RPD.TO - Dividend Comparison
ZEQ.TO's dividend yield for the trailing twelve months is around 2.93%, more than RPD.TO's 2.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RPD.TO RBC Quant European Dividend Leaders ETF | 2.86% | 2.97% | 3.46% | 3.47% | 3.63% | 2.37% | 3.14% | 5.53% | 5.54% | 3.01% | 3.63% | 3.10% |
ZEQ.TO BMO MSCI Europe High Quality Hedged to CAD Index ETF | 2.93% | 3.10% | 2.04% | 2.50% | 2.62% | 1.78% | 1.94% | 2.08% | 3.29% | 2.07% | 2.01% | 2.06% |
Frequently Asked Questions
ZEQ.TO and RPD.TO have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: BMO and RBC.
Find the right allocation for ZEQ.TO and RPD.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer