ZID.TO vs. FIH-U.TO

Last updated Jun 4, 2026

ZID.TO (BMO MSCI India ESG Leaders Index ETF) is Asia Pacific Equities fund tracking the MSCI India ESG Leaders Index, while FIH-U.TO (Fairfax India Holdings Corporation) is a stock. Over the past 10 years, ZID.TO returned 8.81%/yr vs 6.24%/yr for FIH-U.TO. At a 0.16 correlation, their price movements are largely independent.

Performance

ZID.TO vs. FIH-U.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO MSCI India ESG Leaders Index ETF (ZID.TO) and Fairfax India Holdings Corporation (FIH-U.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ZID.TO is traded in CAD, while FIH-U.TO is traded in USD. To make them comparable, the FIH-U.TO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ZID.TO achieves a -18.18% return, which is significantly lower than FIH-U.TO's 4.85% return. Over the past 10 years, ZID.TO has outperformed FIH-U.TO with an annualized return of 8.81%, while FIH-U.TO has yielded a comparatively lower 6.24% annualized return.

ZID.TO

• 1D: -0.95%
• 1M: -1.81%
• YTD: -18.18%
• 6M: -19.19%
• 1Y: -17.13%
• 3Y*: 2.89%
• 5Y*: 2.79%
• 10Y*: 8.81%

FIH-U.TO

• 1D: -0.70%
• 1M: 2.28%
• YTD: 4.85%
• 6M: 7.87%
• 1Y: 1.12%
• 3Y*: 11.80%
• 5Y*: 9.79%
• 10Y*: 6.24%

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

ZID.TO vs. FIH-U.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ZID.TO BMO MSCI India ESG Leaders Index ETF	-18.18%	-0.67%	19.13%	11.89%	-4.71%	25.55%	15.79%	7.37%	8.20%	34.21%
FIH-U.TO Fairfax India Holdings Corporation	4.85%	3.04%	14.38%	21.05%	4.32%	30.17%	-26.27%	-7.31%	-5.04%	21.60%

Correlation

The correlation between ZID.TO and FIH-U.TO is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (5Y) Calculated over the trailing 5-year period	0.12
Correlation (10Y) Calculated over the trailing 10-year period	0.16
Correlation (All Time) Calculated using the full available price history since Feb 2, 2015	0.16

Return for Risk

ZID.TO vs. FIH-U.TO — Risk / Return Rank

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

ZID.TO

ZID.TO Risk / Return Rank: 2
ZID.TO Sharpe Ratio Rank: 1
ZID.TO Sortino Ratio Rank: 2
ZID.TO Omega Ratio Rank: 2
ZID.TO Calmar Ratio Rank: 3
ZID.TO Martin Ratio Rank: 1

FIH-U.TO

FIH-U.TO Risk / Return Rank: 38
FIH-U.TO Sharpe Ratio Rank: 41
FIH-U.TO Sortino Ratio Rank: 36
FIH-U.TO Omega Ratio Rank: 35
FIH-U.TO Calmar Ratio Rank: 41
FIH-U.TO Martin Ratio Rank: 40

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.

ZID.TO vs. FIH-U.TO - 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 Fairfax India Holdings Corporation (FIH-U.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.

	ZID.TO	FIH-U.TO	Difference
Sharpe ratio: Return per unit of total volatility	-1.03	0.03	-1.07
Sortino ratio: Return per unit of downside risk	-1.47	0.29	-1.76
Omega ratio: Gain probability vs. loss probability	0.84	1.03	-0.20
Calmar ratio: Return relative to maximum drawdown	-0.71	0.06	-0.76
Martin ratio: Return relative to average drawdown	-1.50	0.09	-1.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZID.TO vs. FIH-U.TO - Sharpe Ratio Comparison

The current ZID.TO Sharpe Ratio is -1.03, which is lower than the FIH-U.TO Sharpe Ratio of 0.03. The chart below compares the historical Sharpe Ratios of ZID.TO and FIH-U.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ZID.TO	FIH-U.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.03	0.03	-1.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.18	0.31	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.18	+0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.18	+0.17

Drawdowns

ZID.TO vs. FIH-U.TO - Drawdown Comparison

The maximum ZID.TO drawdown since its inception was -45.18%, smaller than the maximum FIH-U.TO drawdown of -66.27%. Use the drawdown chart below to compare losses from any high point for ZID.TO and FIH-U.TO.

Drawdown Indicators

	ZID.TO	FIH-U.TO	Difference
Max Drawdown Largest peak-to-trough decline	-45.18%	-66.27%	+21.09%
Max Drawdown (1Y) Largest decline over 1 year	-24.35%	-19.95%	-4.40%
Max Drawdown (3Y) Largest decline over 3 years	-27.08%	-24.75%	-2.33%
Max Drawdown (5Y) Largest decline over 5 years	-27.08%	-32.60%	+5.52%
Max Drawdown (10Y) Largest decline over 10 years	-45.18%	-66.27%	+21.09%
Current Drawdown Current decline from peak	-25.57%	-12.10%	-13.47%
Average Drawdown Average peak-to-trough decline	-11.32%	-21.18%	+9.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.46%	12.02%	-0.56%

Volatility

ZID.TO vs. FIH-U.TO - Volatility Comparison

The current volatility for BMO MSCI India ESG Leaders Index ETF (ZID.TO) is 6.04%, while Fairfax India Holdings Corporation (FIH-U.TO) has a volatility of 9.99%. This indicates that ZID.TO experiences smaller price fluctuations and is considered to be less risky than FIH-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZID.TO	FIH-U.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.04%	9.99%	-3.95%
Volatility (6M) Calculated over the trailing 6-month period	14.23%	25.38%	-11.15%
Volatility (1Y) Calculated over the trailing 1-year period	16.69%	33.15%	-16.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.92%	32.23%	-16.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.85%	35.46%	-15.61%

Dividends

ZID.TO vs. FIH-U.TO - Dividend Comparison

ZID.TO's dividend yield for the trailing twelve months is around 0.84%, while FIH-U.TO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIH-U.TO Fairfax India Holdings Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ZID.TO BMO MSCI India ESG Leaders Index ETF	0.84%	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

Can I hold both ZID.TO and FIH-U.TO in my portfolio?

ZID.TO and FIH-U.TO have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.