ZID.TO vs. CJP.NEO
ZID.TO (BMO MSCI India ESG Leaders Index ETF) and CJP.NEO (iShares Japan Fundamental Index ETF (CAD-Hedged)) are both exchange-traded funds - ZID.TO is a Asia Pacific Equities fund tracking the MSCI India ESG Leaders Index, while CJP.NEO is a Japan Equities fund tracking the FTSE RAFI Japan Canadian Dollar Hedged Index. Both are passively managed. Over the past 10 years, ZID.TO returned 9.31%/yr vs 16.37%/yr for CJP.NEO. At a 0.31 correlation, their price movements are largely independent. ZID.TO charges 0.67%/yr vs 0.71%/yr for CJP.NEO.
Performance
ZID.TO vs. CJP.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, ZID.TO achieves a -16.55% return, which is significantly lower than CJP.NEO's 17.05% return. Over the past 10 years, ZID.TO has underperformed CJP.NEO with an annualized return of 9.31%, while CJP.NEO has yielded a comparatively higher 16.37% annualized return.
ZID.TO
- 1D
- 1.10%
- 1M
- 1.07%
- YTD
- -16.55%
- 6M
- -15.85%
- 1Y
- -16.46%
- 3Y*
- 3.67%
- 5Y*
- 2.92%
- 10Y*
- 9.31%
CJP.NEO
- 1D
- 2.51%
- 1M
- 0.99%
- YTD
- 17.05%
- 6M
- 17.74%
- 1Y
- 49.90%
- 3Y*
- 27.93%
- 5Y*
- 22.66%
- 10Y*
- 16.37%
ZID.TO vs. CJP.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZID.TO BMO MSCI India ESG Leaders Index ETF | -16.55% | -0.67% | 19.13% | 11.89% | -4.71% | 25.55% | 15.79% | 7.37% | 8.20% | 34.21% |
CJP.NEO iShares Japan Fundamental Index ETF (CAD-Hedged) | 17.05% | 30.67% | 26.74% | 35.03% | 3.67% | 18.19% | 0.18% | 13.12% | -17.35% | 21.33% |
Correlation
The correlation between ZID.TO and CJP.NEO is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Jan 25, 2010 | 0.31 |
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Return for Risk
ZID.TO vs. CJP.NEO — Risk / Return Rank
ZID.TO
CJP.NEO
ZID.TO vs. CJP.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO MSCI India ESG Leaders Index ETF (ZID.TO) and iShares Japan Fundamental Index ETF (CAD-Hedged) (CJP.NEO). 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.
| ZID.TO | CJP.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.75 | ||
| Sortino ratioReturn per unit of downside risk | -5.05 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.51 | -0.66 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | 4.58 | -5.26 |
| Martin ratioReturn relative to average drawdown | -1.37 | 17.20 | -18.57 |
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Drawdowns
ZID.TO vs. CJP.NEO - Drawdown Comparison
The maximum ZID.TO drawdown since its inception was -45.18%, which is greater than CJP.NEO's maximum drawdown of -38.36%. Use the drawdown chart below to compare losses from any high point for ZID.TO and CJP.NEO.
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Drawdown Indicators
| ZID.TO | CJP.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.18% | -38.36% | -6.82% |
Max Drawdown (1Y)Largest decline over 1 year | -24.35% | -10.99% | -13.36% |
Max Drawdown (3Y)Largest decline over 3 years | -27.08% | -20.86% | -6.22% |
Max Drawdown (5Y)Largest decline over 5 years | -27.08% | -20.86% | -6.22% |
Max Drawdown (10Y)Largest decline over 10 years | -45.18% | -37.75% | -7.43% |
Current DrawdownCurrent decline from peak | -24.09% | -1.88% | -22.21% |
Average DrawdownAverage peak-to-trough decline | -11.34% | -11.15% | -0.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.05% | 2.92% | +9.13% |
Volatility
ZID.TO vs. CJP.NEO - Volatility Comparison
BMO MSCI India ESG Leaders Index ETF (ZID.TO) and iShares Japan Fundamental Index ETF (CAD-Hedged) (CJP.NEO) have volatilities of 4.90% and 5.03%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZID.TO | CJP.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.90% | 5.03% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 14.25% | 13.58% | +0.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.75% | 18.26% | -1.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.97% | 18.37% | -2.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.86% | 19.59% | +0.27% |
ZID.TO vs. CJP.NEO - Expense Ratio Comparison
ZID.TO has a 0.67% expense ratio, which is lower than CJP.NEO's 0.71% expense ratio.
Dividends
ZID.TO vs. CJP.NEO - Dividend Comparison
ZID.TO's dividend yield for the trailing twelve months is around 0.82%, less than CJP.NEO's 1.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CJP.NEO iShares Japan Fundamental Index ETF (CAD-Hedged) | 1.26% | 1.48% | 1.71% | 1.24% | 1.96% | 1.56% | 1.97% | 2.42% | 2.38% | 1.48% | 0.97% | 0.84% |
ZID.TO BMO MSCI India ESG Leaders Index ETF | 0.82% | 0.69% | 0.28% | 1.18% | 0.29% | 1.24% | 0.11% | 0.11% | 0.74% | 0.38% | 1.15% | 0.64% |
Frequently Asked Questions
ZID.TO and CJP.NEO have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZID.TO is cheaper at 0.67% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZID.TO is cheaper with a 0.67% expense ratio, compared with 0.71% for CJP.NEO.
ZID.TO is categorized as Asia Pacific Equities, while CJP.NEO is Japan Equities. ZID.TO tracks MSCI India ESG Leaders Index, while CJP.NEO tracks FTSE RAFI Japan Canadian Dollar Hedged Index. They also come from different issuers: BMO and iShares. Their fees differ too: 0.67% for ZID.TO and 0.71% for CJP.NEO.
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