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ZID.TO vs. FLIN
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZID.TO vs. FLIN

Last updated Jun 4, 2026

ZID.TO (BMO MSCI India ESG Leaders Index ETF) and FLIN (Franklin FTSE India ETF) are both Asia Pacific Equities funds - ZID.TO tracks the MSCI India ESG Leaders Index while FLIN tracks the FTSE India RIC Capped Index. Both are passively managed. Over the past 5 years, ZID.TO returned 2.79%/yr vs 6.51%/yr for FLIN. A 0.78 correlation means they provide meaningful diversification when combined. ZID.TO charges 0.67%/yr vs 0.19%/yr for FLIN.

Performance

ZID.TO vs. FLIN - 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 Franklin FTSE India ETF (FLIN). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

ZID.TO is traded in CAD, while FLIN is traded in USD. To make them comparable, the FLIN 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 FLIN's -10.80% 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%

FLIN

1D
-1.10%
1M
-0.63%
YTD
-10.80%
6M
-11.20%
1Y
-10.49%
3Y*
6.76%
5Y*
6.51%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

ZID.TO vs. FLIN - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
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%9.63%
FLIN
Franklin FTSE India ETF		-10.80%-2.30%19.81%17.93%-1.40%23.83%12.57%-0.38%1.03%

Correlation

The correlation between ZID.TO and FLIN is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.88

Correlation (3Y)
Calculated over the trailing 3-year period

0.84

Correlation (5Y)
Calculated over the trailing 5-year period

0.81

Correlation (All Time)
Calculated using the full available price history since Feb 9, 2018

0.78

The correlation between ZID.TO and FLIN shifts across timeframes, from 0.78 (all time) to 0.88 (1 year), reflecting how their relationship changes across market environments.

ZID.TO vs. FLIN - Sectors Allocation Comparison

Sectors
ZID.TO
FLIN

Financial Services

26.6%
27.2%

Energy

14.2%
9.5%

Consumer Cyclical

13.5%
12.0%

Basic Materials

12.9%
9.2%

Consumer Defensive

8.9%
5.8%

Technology

8.7%
8.4%

Industrials

6.3%
10.3%

Utilities

4.2%
5.3%

Healthcare

3.5%
6.5%

Communication Services

0.6%
4.6%

Real Estate

0.5%
1.3%

Financial Services

ZID.TO
26.6%
FLIN
27.2%

Energy

ZID.TO
14.2%
FLIN
9.5%

Consumer Cyclical

ZID.TO
13.5%
FLIN
12.0%

Basic Materials

ZID.TO
12.9%
FLIN
9.2%

Consumer Defensive

ZID.TO
8.9%
FLIN
5.8%

Technology

ZID.TO
8.7%
FLIN
8.4%

Industrials

ZID.TO
6.3%
FLIN
10.3%

Utilities

ZID.TO
4.2%
FLIN
5.3%

Healthcare

ZID.TO
3.5%
FLIN
6.5%

Communication Services

ZID.TO
0.6%
FLIN
4.6%

Real Estate

ZID.TO
0.5%
FLIN
1.3%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

BMO MSCI India ESG Leaders Index ETF

Franklin FTSE India ETF

Often compared with ZID.TO:
ZID.TO vs. XID.TOZID.TO vs. NFTYZID.TO vs. VFV.TOZID.TO vs. ZLU.TOZID.TO vs. VVL.TOZID.TO vs. ZEA.TOZID.TO vs. THD
Often compared with FLIN:
FLIN vs. INDAFLIN vs. EPIFLIN vs. NFTYFLIN vs. INDYFLIN vs. FRIN.LFLIN vs. SMINFLIN vs. GLIN

Return for Risk

ZID.TO vs. FLIN — 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: 22
Overall Rank
ZID.TO Sharpe Ratio Rank: 11
Sharpe Ratio Rank
ZID.TO Sortino Ratio Rank: 22
Sortino Ratio Rank
ZID.TO Omega Ratio Rank: 22
Omega Ratio Rank
ZID.TO Calmar Ratio Rank: 33
Calmar Ratio Rank
ZID.TO Martin Ratio Rank: 11
Martin Ratio Rank
FLIN
FLIN Risk / Return Rank: 22
Overall Rank
FLIN Sharpe Ratio Rank: 33
Sharpe Ratio Rank
FLIN Sortino Ratio Rank: 33
Sortino Ratio Rank
FLIN Omega Ratio Rank: 33
Omega Ratio Rank
FLIN Calmar Ratio Rank: 33
Calmar Ratio Rank
FLIN Martin Ratio Rank: 11
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.

ZID.TO vs. FLIN - 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 Franklin FTSE India ETF (FLIN). 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.TOFLINDifference
Sharpe ratioReturn per unit of total volatility
-1.03
-0.71

-0.32

Sortino ratioReturn per unit of downside risk
-1.47
-0.97

-0.50

Omega ratioGain probability vs. loss probability

0.84

0.89

-0.05

Calmar ratioReturn relative to maximum drawdown

-0.71

-0.56

-0.14

Martin ratioReturn relative to average drawdown

-1.50

-1.31

-0.19

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. FLIN - Sharpe Ratio Comparison

The current ZID.TO Sharpe Ratio is -1.03, which is lower than the FLIN Sharpe Ratio of -0.71. The chart below compares the historical Sharpe Ratios of ZID.TO and FLIN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

ZID.TOFLINDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-1.03

-0.71

-0.32

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.18

0.45

-0.27

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.45

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.35

0.35

0.00

Drawdowns

ZID.TO vs. FLIN - Drawdown Comparison

The maximum ZID.TO drawdown since its inception was -45.18%, which is greater than FLIN's maximum drawdown of -37.23%. Use the drawdown chart below to compare losses from any high point for ZID.TO and FLIN.

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Drawdown Indicators

ZID.TOFLINDifference

Max Drawdown

Largest peak-to-trough decline

-45.18%

-37.23%

-7.95%

Max Drawdown (1Y)

Largest decline over 1 year

-24.35%

-18.67%

-5.68%

Max Drawdown (3Y)

Largest decline over 3 years

-27.08%

-20.67%

-6.41%

Max Drawdown (5Y)

Largest decline over 5 years

-27.08%

-20.67%

-6.41%

Max Drawdown (10Y)

Largest decline over 10 years

-45.18%

—

—

Current Drawdown

Current decline from peak

-25.57%

-16.78%

-8.79%

Average Drawdown

Average peak-to-trough decline

-11.32%

-6.19%

-5.13%

Ulcer Index

Depth and duration of drawdowns from previous peaks

11.46%

8.04%

+3.42%

Volatility

ZID.TO vs. FLIN - Volatility Comparison

BMO MSCI India ESG Leaders Index ETF (ZID.TO) has a higher volatility of 6.04% compared to Franklin FTSE India ETF (FLIN) at 5.17%. This indicates that ZID.TO's price experiences larger fluctuations and is considered to be riskier than FLIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ZID.TOFLINDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.04%

5.17%

+0.87%

Volatility (6M)

Calculated over the trailing 6-month period

14.23%

12.81%

+1.42%

Volatility (1Y)

Calculated over the trailing 1-year period

16.69%

14.86%

+1.83%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.92%

14.60%

+1.32%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.85%

18.81%

+1.04%

ZID.TO vs. FLIN - Expense Ratio Comparison

ZID.TO has a 0.67% expense ratio, which is higher than FLIN's 0.19% expense ratio.

Dividends

ZID.TO vs. FLIN - Dividend Comparison

ZID.TO's dividend yield for the trailing twelve months is around 0.84%, more than FLIN's 0.64% yield.

PositionTTM20252024202320222021202020192018201720162015
FLIN
Franklin FTSE India ETF		0.64%0.56%1.58%0.73%0.73%2.26%0.68%0.90%0.92%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

ZID.TO and FLIN have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, FLIN is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

FLIN is cheaper with a 0.19% expense ratio, compared with 0.67% for ZID.TO.

ZID.TO tracks MSCI India ESG Leaders Index, while FLIN tracks FTSE India RIC Capped Index. They also come from different issuers: BMO and Franklin Templeton. Their fees differ too: 0.67% for ZID.TO and 0.19% for FLIN.

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