ZEQT.TO vs. ZDIV.TO

Last updated Jun 25, 2026

ZEQT.TO (BMO All-Equity ETF) and ZDIV.TO (BMO MSCI Canada IMI High Dividend Yield Index ETF) are both exchange-traded funds - ZEQT.TO is a Global Equities fund actively managed by BMO, while ZDIV.TO is a Dividend fund tracking the MSCI Canada IMI High Dividend Yield Select Index. ZEQT.TO is actively managed, while ZDIV.TO is passively managed. At a 0.11 correlation, their price movements are largely independent. ZEQT.TO charges 0.18%/yr vs 0.09%/yr for ZDIV.TO.

Performance

ZEQT.TO vs. ZDIV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO All-Equity ETF (ZEQT.TO) and BMO MSCI Canada IMI High Dividend Yield Index ETF (ZDIV.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ZEQT.TO

• 1D: -0.13%
• 1M: -0.90%
• YTD: 13.34%
• 6M: 12.70%
• 1Y: 30.84%
• 3Y*: 26.67%
• 5Y*: —
• 10Y*: —

ZDIV.TO

• 1D: -1.27%
• 1M: -0.94%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ZEQT.TO vs. ZDIV.TO - Yearly Performance Comparison

	2026 (YTD)
ZEQT.TO BMO All-Equity ETF	11.86%
ZDIV.TO BMO MSCI Canada IMI High Dividend Yield Index ETF	13.72%

Correlation

The correlation between ZEQT.TO and ZDIV.TO is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 6, 2026	0.11

Return for Risk

ZEQT.TO vs. ZDIV.TO — Risk / Return Rank

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

ZEQT.TO

ZEQT.TO Risk / Return Rank: 80
ZEQT.TO Sharpe Ratio Rank: 81
ZEQT.TO Sortino Ratio Rank: 81
ZEQT.TO Omega Ratio Rank: 80
ZEQT.TO Calmar Ratio Rank: 76
ZEQT.TO Martin Ratio Rank: 81

ZDIV.TO

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

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.

ZEQT.TO vs. ZDIV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO All-Equity ETF (ZEQT.TO) and BMO MSCI Canada IMI High Dividend Yield Index ETF (ZDIV.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.

	ZEQT.TO	ZDIV.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.32	—	—
Sortino ratio: Return per unit of downside risk	3.22	—	—
Omega ratio: Gain probability vs. loss probability	1.43	—	—
Calmar ratio: Return relative to maximum drawdown	3.55	—	—
Martin ratio: Return relative to average drawdown	14.64	—	—

Drawdowns

ZEQT.TO vs. ZDIV.TO - Drawdown Comparison

The maximum ZEQT.TO drawdown since its inception was -15.18%, which is greater than ZDIV.TO's maximum drawdown of -2.60%. Use the drawdown chart below to compare losses from any high point for ZEQT.TO and ZDIV.TO.

Drawdown Indicators

	ZEQT.TO	ZDIV.TO	Difference
Max Drawdown Largest peak-to-trough decline	-15.18%	-2.60%	-12.58%
Max Drawdown (1Y) Largest decline over 1 year	-8.72%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-14.62%	—	—
Current Drawdown Current decline from peak	-1.66%	-2.03%	+0.37%
Average Drawdown Average peak-to-trough decline	-2.57%	-0.52%	-2.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.11%	—	—

Volatility

Volatility by Period

	ZEQT.TO	ZDIV.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.47%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.08%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	13.37%	9.92%	+3.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.51%	9.92%	+3.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.51%	9.92%	+3.59%

ZEQT.TO vs. ZDIV.TO - Expense Ratio Comparison

ZEQT.TO has a 0.18% expense ratio, which is higher than ZDIV.TO's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ZEQT.TO vs. ZDIV.TO - Dividend Comparison

ZEQT.TO's dividend yield for the trailing twelve months is around 1.92%, more than ZDIV.TO's 0.91% yield.

Position	TTM	2025	2024	2023	2022
ZDIV.TO BMO MSCI Canada IMI High Dividend Yield Index ETF	0.91%	0.00%	0.00%	0.00%	0.00%
ZEQT.TO BMO All-Equity ETF	1.92%	2.89%	5.08%	6.40%	7.31%

Frequently Asked Questions

Can I hold both ZEQT.TO and ZDIV.TO in my portfolio?

ZEQT.TO and ZDIV.TO have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZEQT.TO or ZDIV.TO?

On fees, ZDIV.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZEQT.TO or ZDIV.TO?

ZDIV.TO is cheaper with a 0.09% expense ratio, compared with 0.18% for ZEQT.TO.

What is the main difference between ZEQT.TO and ZDIV.TO?

ZEQT.TO is categorized as Global Equities, while ZDIV.TO is Dividend. Their fees differ too: 0.18% for ZEQT.TO and 0.09% for ZDIV.TO.