ZEQ.TO vs. RPDH.TO
ZEQ.TO (BMO MSCI Europe High Quality Hedged to CAD Index ETF) and RPDH.TO (RBC Quant European Dividend Leaders CAD Hedged ETF) are both Europe Equities funds. ZEQ.TO is passively managed, while RPDH.TO is actively managed. Over the past 10 years, ZEQ.TO returned 8.57%/yr vs 9.97%/yr for RPDH.TO. At a 0.42 correlation, their price movements are largely independent.
Performance
ZEQ.TO vs. RPDH.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZEQ.TO achieves a 5.79% return, which is significantly lower than RPDH.TO's 16.11% return. Over the past 10 years, ZEQ.TO has underperformed RPDH.TO with an annualized return of 8.57%, while RPDH.TO has yielded a comparatively higher 9.97% 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%
RPDH.TO
- 1D
- -0.11%
- 1M
- -0.22%
- 6M
- 11.22%
- YTD
- 16.11%
- 1Y
- 32.10%
- 3Y*
- 21.26%
- 5Y*
- 13.55%
- 10Y*
- 9.97%
ZEQ.TO vs. RPDH.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% |
RPDH.TO RBC Quant European Dividend Leaders CAD Hedged ETF | 16.11% | 30.87% | 7.58% | 17.83% | -6.14% | 23.21% | -7.43% | 17.35% | -8.22% | 8.35% |
Correlation
The correlation between ZEQ.TO and RPDH.TO is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Nov 17, 2014 | 0.42 |
Over the past year, the correlation between ZEQ.TO and RPDH.TO has dropped to 0.19 - well below their long-term average of 0.42, suggesting their price drivers have been diverging.
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Return for Risk
ZEQ.TO vs. RPDH.TO — Risk / Return Rank
ZEQ.TO
RPDH.TO
ZEQ.TO vs. RPDH.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 CAD Hedged ETF (RPDH.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 | RPDH.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.08 | ||
| Sortino ratioReturn per unit of downside risk | -2.93 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.59 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | 4.13 | -3.21 |
| Martin ratioReturn relative to average drawdown | 3.06 | 16.20 | -13.14 |
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Drawdowns
ZEQ.TO vs. RPDH.TO - Drawdown Comparison
The maximum ZEQ.TO drawdown since its inception was -29.14%, smaller than the maximum RPDH.TO drawdown of -36.38%. Use the drawdown chart below to compare losses from any high point for ZEQ.TO and RPDH.TO.
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Drawdown Indicators
| ZEQ.TO | RPDH.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.14% | -36.38% | +7.24% |
Max Drawdown (1Y)Largest decline over 1 year | -10.97% | -7.81% | -3.16% |
Max Drawdown (3Y)Largest decline over 3 years | -14.47% | -13.56% | -0.91% |
Max Drawdown (5Y)Largest decline over 5 years | -20.54% | -19.22% | -1.32% |
Max Drawdown (10Y)Largest decline over 10 years | -29.14% | -36.38% | +7.24% |
Current DrawdownCurrent decline from peak | -2.84% | -1.27% | -1.57% |
Average DrawdownAverage peak-to-trough decline | -4.29% | -5.09% | +0.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.28% | 1.99% | +1.29% |
Volatility
ZEQ.TO vs. RPDH.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 CAD Hedged ETF (RPDH.TO) has a volatility of 2.85%. This indicates that ZEQ.TO experiences smaller price fluctuations and is considered to be less risky than RPDH.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZEQ.TO | RPDH.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.49% | 2.85% | -0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 11.07% | 9.14% | +1.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.32% | 11.38% | +1.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.24% | 13.86% | +0.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.37% | 16.12% | -0.75% |
Dividends
ZEQ.TO vs. RPDH.TO - Dividend Comparison
ZEQ.TO's dividend yield for the trailing twelve months is around 2.93%, less than RPDH.TO's 3.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RPDH.TO RBC Quant European Dividend Leaders CAD Hedged ETF | 3.01% | 3.08% | 3.71% | 3.42% | 4.00% | 2.38% | 3.27% | 5.42% | 5.06% | 2.91% | 3.80% | 3.08% |
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 RPDH.TO have a correlation of 0.19, 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.
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