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

ZEQL.TO vs. ZDY.TO

Last updated Apr 14, 2026

ZEQL.TO (BMO MSCI USA Equal Weight Index ETF (CAD Units)) and ZDY.TO (BMO US Dividend ETF (CAD)) are both exchange-traded funds — ZEQL.TO is a Large Cap Blend Equities fund tracking the MSCI USA Equal Weighted Index, while ZDY.TO is a Dividend fund actively managed by BMO. ZEQL.TO is passively managed, while ZDY.TO is actively managed. A 0.67 correlation means they provide meaningful diversification when combined. ZEQL.TO charges 0.05%/yr vs 0.30%/yr for ZDY.TO.

Performance

ZEQL.TO vs. ZDY.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO MSCI USA Equal Weight Index ETF (CAD Units) (ZEQL.TO) and BMO US Dividend ETF (CAD) (ZDY.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

ZEQL.TO

1D
0.73%
1M
3.04%
YTD
—
6M
—
1Y
—
3Y*
—
5Y*
—
10Y*
—

ZDY.TO

1D
0.08%
1M
2.46%
YTD
6.55%
6M
6.87%
1Y
26.30%
3Y*
15.87%
5Y*
12.34%
10Y*
11.07%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)
ZEQL.TO
BMO MSCI USA Equal Weight Index ETF (CAD Units)		-0.18%
ZDY.TO
BMO US Dividend ETF (CAD)		0.71%

Correlation

The correlation between ZEQL.TO and ZDY.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 (All Time)
Calculated using the full available price history since Feb 10, 2026

0.67

Compare stocks, funds, or ETFs

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BMO MSCI USA Equal Weight Index ETF (CAD Units)

BMO US Dividend ETF (CAD)

Often compared with ZEQL.TO:
ZEQL.TO vs. TPU.TOZEQL.TO vs. COW.TOZEQL.TO vs. ETSX.TOZEQL.TO vs. SMVP.TOZEQL.TO vs. XHD.TOZEQL.TO vs. XMS.TOZEQL.TO vs. XMU.TO
Often compared with ZDY.TO:
ZDY.TO vs. VDY.TOZDY.TO vs. ZDV.TOZDY.TO vs. SCHDZDY.TO vs. ZLU.TOZDY.TO vs. VIGZDY.TO vs. ZGRO.TOZDY.TO vs. XEI.TO

Return for Risk

ZEQL.TO vs. ZDY.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZEQL.TO
ZDY.TO
ZDY.TO Risk / Return Rank: 7474
Overall Rank
ZDY.TO Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
ZDY.TO Sortino Ratio Rank: 6666
Sortino Ratio Rank
ZDY.TO Omega Ratio Rank: 6565
Omega Ratio Rank
ZDY.TO Calmar Ratio Rank: 8787
Calmar Ratio Rank
ZDY.TO Martin Ratio Rank: 8787
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.

ZEQL.TO vs. ZDY.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO MSCI USA Equal Weight Index ETF (CAD Units) (ZEQL.TO) and BMO US Dividend ETF (CAD) (ZDY.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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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

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Sharpe Ratios by Period

ZEQL.TOZDY.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

—

2.39

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

1.05

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.74

—

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.08

0.93

-1.00

Drawdowns

ZEQL.TO vs. ZDY.TO - Drawdown Comparison

The maximum ZEQL.TO drawdown since its inception was -6.12%, smaller than the maximum ZDY.TO drawdown of -32.99%. Use the drawdown chart below to compare losses from any high point for ZEQL.TO and ZDY.TO.

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Drawdown Indicators

ZEQL.TOZDY.TODifference

Max Drawdown

Largest peak-to-trough decline

-6.12%

-32.99%

+26.87%

Max Drawdown (1Y)

Largest decline over 1 year

—

-5.29%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-15.32%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-32.99%

—

Current Drawdown

Current decline from peak

-1.63%

-0.99%

-0.64%

Average Drawdown

Average peak-to-trough decline

-2.57%

-3.27%

+0.70%

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

1.42%

—

Volatility

ZEQL.TO vs. ZDY.TO - Volatility Comparison

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Volatility by Period

ZEQL.TOZDY.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

—

3.70%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

7.48%

—

Volatility (1Y)

Calculated over the trailing 1-year period

13.46%

11.13%

+2.33%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.46%

11.87%

+1.59%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.46%

15.06%

-1.60%

ZEQL.TO vs. ZDY.TO - Expense Ratio Comparison

ZEQL.TO has a 0.05% expense ratio, which is lower than ZDY.TO's 0.30% expense ratio.

Dividends

ZEQL.TO vs. ZDY.TO - Dividend Comparison

ZEQL.TO's dividend yield for the trailing twelve months is around 0.40%, less than ZDY.TO's 1.59% yield.

TTM20252024202320222021202020192018201720162015
ZEQL.TO
BMO MSCI USA Equal Weight Index ETF (CAD Units)		0.40%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
ZDY.TO
BMO US Dividend ETF (CAD)		1.59%1.72%2.08%2.56%2.62%2.46%3.85%3.19%2.95%2.77%2.60%2.68%