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

ZID.TO vs. VOO

Last updated Jun 4, 2026

ZID.TO (BMO MSCI India ESG Leaders Index ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - ZID.TO is a Asia Pacific Equities fund tracking the MSCI India ESG Leaders Index, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, ZID.TO returned 8.81%/yr vs 16.44%/yr for VOO. At a 0.41 correlation, their price movements are largely independent. ZID.TO charges 0.67%/yr vs 0.03%/yr for VOO.

Performance

ZID.TO vs. VOO - 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 Vanguard S&P 500 ETF (VOO). 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 VOO is traded in USD. To make them comparable, the VOO 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 VOO's 12.66% return. Over the past 10 years, ZID.TO has underperformed VOO with an annualized return of 8.81%, while VOO has yielded a comparatively higher 16.44% 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%

VOO

1D
0.00%
1M
7.45%
YTD
12.66%
6M
10.84%
1Y
30.08%
3Y*
23.99%
5Y*
17.22%
10Y*
16.44%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ZID.TO vs. VOO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
VOO
Vanguard S&P 500 ETF		12.32%12.42%35.71%23.54%-12.34%27.63%16.32%24.91%3.60%14.02%

Correlation

The correlation between ZID.TO and VOO is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.43

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

0.37

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

0.39

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

0.41

Correlation (All Time)
Calculated using the full available price history since Sep 10, 2010

0.41

ZID.TO vs. VOO - Sectors Allocation Comparison

Sectors
ZID.TO
VOO

Financial Services

26.6%
11.6%

Energy

14.2%
3.5%

Consumer Cyclical

13.5%
10.2%

Basic Materials

12.9%
1.8%

Consumer Defensive

8.9%
4.9%

Technology

8.7%
35.7%

Industrials

6.3%
8.3%

Utilities

4.2%
2.4%

Healthcare

3.5%
8.5%

Communication Services

0.6%
11.3%

Real Estate

0.5%
1.9%

Financial Services

ZID.TO
26.6%
VOO
11.6%

Energy

ZID.TO
14.2%
VOO
3.5%

Consumer Cyclical

ZID.TO
13.5%
VOO
10.2%

Basic Materials

ZID.TO
12.9%
VOO
1.8%

Consumer Defensive

ZID.TO
8.9%
VOO
4.9%

Technology

ZID.TO
8.7%
VOO
35.7%

Industrials

ZID.TO
6.3%
VOO
8.3%

Utilities

ZID.TO
4.2%
VOO
2.4%

Healthcare

ZID.TO
3.5%
VOO
8.5%

Communication Services

ZID.TO
0.6%
VOO
11.3%

Real Estate

ZID.TO
0.5%
VOO
1.9%

Compare stocks, funds, or ETFs

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BMO MSCI India ESG Leaders Index ETF

Vanguard S&P 500 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 VOO:
VOO vs. VTIVOO vs. QQQVOO vs. SCHDVOO vs. VTVOO vs. SPYVOO vs. FXAIXVOO vs. IVV

Return for Risk

ZID.TO vs. VOO — 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
VOO
VOO Risk / Return Rank: 7070
Overall Rank
VOO Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
VOO Sortino Ratio Rank: 7070
Sortino Ratio Rank
VOO Omega Ratio Rank: 7070
Omega Ratio Rank
VOO Calmar Ratio Rank: 6262
Calmar Ratio Rank
VOO Martin Ratio Rank: 7575
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. VOO - 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 Vanguard S&P 500 ETF (VOO). 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.TOVOODifference
Sharpe ratioReturn per unit of total volatility
-1.03
2.60

-3.63

Sortino ratioReturn per unit of downside risk
-1.47
3.49

-4.95

Omega ratioGain probability vs. loss probability

0.84

1.50

-0.66

Calmar ratioReturn relative to maximum drawdown

-0.71

3.51

-4.21

Martin ratioReturn relative to average drawdown

-1.50

13.34

-14.84

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. VOO - Sharpe Ratio Comparison

The current ZID.TO Sharpe Ratio is -1.03, which is lower than the VOO Sharpe Ratio of 2.60. The chart below compares the historical Sharpe Ratios of ZID.TO and VOO, 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.TOVOODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-1.03

2.60

-3.63

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.18

1.16

-0.98

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.45

1.01

-0.57

Sharpe Ratio (All Time)

Calculated using the full available price history

0.35

1.15

-0.80

Drawdowns

ZID.TO vs. VOO - Drawdown Comparison

The maximum ZID.TO drawdown since its inception was -45.18%, which is greater than VOO's maximum drawdown of -27.65%. Use the drawdown chart below to compare losses from any high point for ZID.TO and VOO.

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Drawdown Indicators

ZID.TOVOODifference

Max Drawdown

Largest peak-to-trough decline

-45.18%

-27.65%

-17.53%

Max Drawdown (1Y)

Largest decline over 1 year

-24.35%

-8.62%

-15.73%

Max Drawdown (3Y)

Largest decline over 3 years

-27.08%

-18.93%

-8.15%

Max Drawdown (5Y)

Largest decline over 5 years

-27.08%

-22.08%

-5.00%

Max Drawdown (10Y)

Largest decline over 10 years

-45.18%

-27.65%

-17.53%

Current Drawdown

Current decline from peak

-25.57%

0.00%

-25.57%

Average Drawdown

Average peak-to-trough decline

-11.32%

-3.24%

-8.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

11.46%

2.26%

+9.20%

Volatility

ZID.TO vs. VOO - Volatility Comparison

BMO MSCI India ESG Leaders Index ETF (ZID.TO) has a higher volatility of 6.04% compared to Vanguard S&P 500 ETF (VOO) at 2.60%. This indicates that ZID.TO's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ZID.TOVOODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.04%

2.60%

+3.44%

Volatility (6M)

Calculated over the trailing 6-month period

14.23%

8.79%

+5.44%

Volatility (1Y)

Calculated over the trailing 1-year period

16.69%

11.64%

+5.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.92%

14.91%

+1.01%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.85%

16.28%

+3.57%

ZID.TO vs. VOO - Expense Ratio Comparison

ZID.TO has a 0.67% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

ZID.TO vs. VOO - Dividend Comparison

ZID.TO's dividend yield for the trailing twelve months is around 0.84%, less than VOO's 1.03% yield.

PositionTTM20252024202320222021202020192018201720162015
VOO
Vanguard S&P 500 ETF		1.03%1.13%1.24%1.46%1.69%1.25%1.54%1.88%2.06%1.78%2.02%2.10%
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 VOO have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VOO is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VOO is cheaper with a 0.03% expense ratio, compared with 0.67% for ZID.TO.

ZID.TO is categorized as Asia Pacific Equities, while VOO is S&P 500. ZID.TO tracks MSCI India ESG Leaders Index, while VOO tracks S&P 500 Index. They also come from different issuers: BMO and Vanguard. Their fees differ too: 0.67% for ZID.TO and 0.03% for VOO.

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