PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
ZID.TO vs. NFTY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZID.TO vs. NFTY

Last updated Jul 4, 2026
See Documentation

ZID.TO (BMO MSCI India ESG Leaders Index ETF) and NFTY (First Trust India NIFTY 50 Equal Weight ETF) are both India Equities funds - ZID.TO tracks the MSCI India ESG Leaders Index while NFTY tracks the NIFTY 50 Equal Weight Index. Both are passively managed. Over the past 10 years, ZID.TO returned 9.41%/yr vs 9.06%/yr for NFTY. At a 0.38 correlation, their price movements are largely independent. ZID.TO charges 0.67%/yr vs 0.80%/yr for NFTY.

Performance

ZID.TO vs. NFTY - 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 First Trust India NIFTY 50 Equal Weight ETF (NFTY). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

ZID.TO is traded in CAD, while NFTY is traded in USD. To make them comparable, the NFTY 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 -12.15% return, which is significantly lower than NFTY's -3.15% return. Both investments have delivered pretty close results over the past 10 years, with ZID.TO having a 9.41% annualized return and NFTY not far behind at 9.06%.

ZID.TO

1D
0.16%
1M
7.36%
6M
-12.98%
YTD
-12.15%
1Y
-14.36%
3Y*
4.71%
5Y*
4.08%
10Y*
9.41%

NFTY

1D
0.80%
1M
6.09%
6M
-3.90%
YTD
-3.15%
1Y
-4.15%
3Y*
7.83%
5Y*
8.82%
10Y*
9.06%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ZID.TO vs. NFTY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ZID.TO
BMO MSCI India ESG Leaders Index ETF		-12.15%-0.67%19.13%11.89%-4.71%25.55%15.79%7.37%8.20%34.21%
NFTY
First Trust India NIFTY 50 Equal Weight ETF		-3.15%0.66%14.09%21.05%2.66%26.76%7.43%-3.57%6.78%13.54%

Correlation

The correlation between ZID.TO and NFTY is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.76

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

0.71

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

0.66

Correlation (10Y)
Calculated over the trailing 10-year period

0.50

Correlation (All Time)
Calculated using the full available price history since Feb 28, 2012

0.38

Over the past year, ZID.TO and NFTY have become more correlated (0.76) than their long-term average of 0.38, meaning their price movements have been converging.

ZID.TO vs. NFTY - Sectors Allocation Comparison

Sectors
ZID.TO
NFTY

Financial Services

26.2%
20.9%

Energy

14.6%
8.5%

Consumer Cyclical

13.8%
16.6%

Basic Materials

12.6%
13.1%

Consumer Defensive

8.9%
8.1%

Technology

8.7%
9.0%

Industrials

6.4%
8.5%

Utilities

4.1%
3.7%

Healthcare

3.8%
9.9%

Communication Services

0.6%
1.9%

Real Estate

0.5%

-

Financial Services

ZID.TO
26.2%
NFTY
20.9%

Energy

ZID.TO
14.6%
NFTY
8.5%

Consumer Cyclical

ZID.TO
13.8%
NFTY
16.6%

Basic Materials

ZID.TO
12.6%
NFTY
13.1%

Consumer Defensive

ZID.TO
8.9%
NFTY
8.1%

Technology

ZID.TO
8.7%
NFTY
9.0%

Industrials

ZID.TO
6.4%
NFTY
8.5%

Utilities

ZID.TO
4.1%
NFTY
3.7%

Healthcare

ZID.TO
3.8%
NFTY
9.9%

Communication Services

ZID.TO
0.6%
NFTY
1.9%

Real Estate

ZID.TO
0.5%
NFTY

-

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

First Trust India NIFTY 50 Equal Weight ETF

Often compared with ZID.TO:
ZID.TO vs. XID.TOZID.TO vs. VFV.TOZID.TO vs. ZLU.TOZID.TO vs. VVL.TOZID.TO vs. ZEA.TOZID.TO vs. THDZID.TO vs. ZNQ.TO
Often compared with NFTY:
NFTY vs. SPYNFTY vs. INDYNFTY vs. TCS.NSNFTY vs. FLINNFTY vs. EPINFTY vs. QQQNFTY vs. SMIN

Return for Risk

ZID.TO vs. NFTY — 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: 33
Overall Rank
ZID.TO Sharpe Ratio Rank: 22
Sharpe Ratio Rank
ZID.TO Sortino Ratio Rank: 33
Sortino Ratio Rank
ZID.TO Omega Ratio Rank: 33
Omega Ratio Rank
ZID.TO Calmar Ratio Rank: 44
Calmar Ratio Rank
ZID.TO Martin Ratio Rank: 44
Martin Ratio Rank
NFTY
NFTY Risk / Return Rank: 44
Overall Rank
NFTY Sharpe Ratio Rank: 55
Sharpe Ratio Rank
NFTY Sortino Ratio Rank: 44
Sortino Ratio Rank
NFTY Omega Ratio Rank: 44
Omega Ratio Rank
NFTY Calmar Ratio Rank: 55
Calmar Ratio Rank
NFTY Martin Ratio Rank: 33
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. NFTY - 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 First Trust India NIFTY 50 Equal Weight ETF (NFTY). 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.TONFTYDifference
Sharpe ratioReturn per unit of total volatility
-0.86
-0.27

-0.59

Sortino ratioReturn per unit of downside risk
-1.20
-0.31

-0.89

Omega ratioGain probability vs. loss probability

0.87

0.97

-0.10

Calmar ratioReturn relative to maximum drawdown

-0.59

-0.25

-0.34

Martin ratioReturn relative to average drawdown

-1.12

-0.56

-0.56

ZID.TO vs. NFTY - Sharpe Ratio Comparison

The current ZID.TO Sharpe Ratio is -0.86, which is lower than the NFTY Sharpe Ratio of -0.27. The chart below compares the historical Sharpe Ratios of ZID.TO and NFTY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

ZID.TO vs. NFTY - Drawdown Comparison

The maximum ZID.TO drawdown since its inception was -45.18%, which is greater than NFTY's maximum drawdown of -42.29%. Use the drawdown chart below to compare losses from any high point for ZID.TO and NFTY.

Loading charts...

Drawdown Indicators

ZID.TONFTYDifference

Max Drawdown

Largest peak-to-trough decline

-45.18%

-42.29%

-2.89%

Max Drawdown (1Y)

Largest decline over 1 year

-24.35%

-16.86%

-7.49%

Max Drawdown (3Y)

Largest decline over 3 years

-27.08%

-19.38%

-7.70%

Max Drawdown (5Y)

Largest decline over 5 years

-27.08%

-19.38%

-7.70%

Max Drawdown (10Y)

Largest decline over 10 years

-45.18%

-42.29%

-2.89%

Current Drawdown

Current decline from peak

-20.09%

-10.36%

-9.73%

Average Drawdown

Average peak-to-trough decline

-11.37%

-7.65%

-3.72%

Ulcer Index

Depth and duration of drawdowns from previous peaks

12.79%

7.54%

+5.25%

Volatility

ZID.TO vs. NFTY - Volatility Comparison

BMO MSCI India ESG Leaders Index ETF (ZID.TO) and First Trust India NIFTY 50 Equal Weight ETF (NFTY) have volatilities of 4.25% and 4.47%, 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.

Loading charts...

Volatility by Period

ZID.TONFTYDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.25%

4.47%

-0.22%

Volatility (6M)

Calculated over the trailing 6-month period

14.48%

13.26%

+1.22%

Volatility (1Y)

Calculated over the trailing 1-year period

16.77%

15.50%

+1.27%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.03%

18.76%

-2.73%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.84%

21.56%

-1.72%

ZID.TO vs. NFTY - Expense Ratio Comparison

ZID.TO has a 0.67% expense ratio, which is lower than NFTY's 0.80% expense ratio.

Dividends

ZID.TO vs. NFTY - Dividend Comparison

ZID.TO's dividend yield for the trailing twelve months is around 0.78%, less than NFTY's 1.90% yield.

PositionTTM20252024202320222021202020192018201720162015
NFTY
First Trust India NIFTY 50 Equal Weight ETF		1.90%1.24%1.61%0.13%5.89%1.53%0.61%0.97%0.00%4.10%3.28%4.39%
ZID.TO
BMO MSCI India ESG Leaders Index ETF		0.78%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 NFTY have a correlation of 0.76, 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 0.80% for NFTY.

ZID.TO tracks MSCI India ESG Leaders Index, while NFTY tracks NIFTY 50 Equal Weight Index. They also come from different issuers: BMO and First Trust. Their fees differ too: 0.67% for ZID.TO and 0.80% for NFTY.

Portfolio Optimizer

Find the right allocation for ZID.TO and NFTY

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer