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ZIU.TO vs. ZDV.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZIU.TO vs. ZDV.TO

Last updated Jun 4, 2026

ZIU.TO (BMO S&P/TSX 60 Index ETF) and ZDV.TO (BMO Canadian Dividend ETF) are both Canada Equities funds from BMO. ZIU.TO is passively managed, while ZDV.TO is actively managed. Over the past year, ZIU.TO returned 31.32% vs 31.08% for ZDV.TO. A 0.67 correlation means they provide meaningful diversification when combined. ZIU.TO charges 0.15%/yr vs 0.39%/yr for ZDV.TO.

Performance

ZIU.TO vs. ZDV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO S&P/TSX 60 Index ETF (ZIU.TO) and BMO Canadian Dividend ETF (ZDV.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ZIU.TO achieves a 10.17% return, which is significantly lower than ZDV.TO's 18.56% return.

ZIU.TO

1D
-0.14%
1M
3.59%
YTD
10.17%
6M
11.84%
1Y
31.32%
3Y*
—
5Y*
—
10Y*
—

ZDV.TO

1D
-0.22%
1M
4.61%
YTD
18.56%
6M
13.14%
1Y
31.08%
3Y*
20.39%
5Y*
13.72%
10Y*
10.97%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ZIU.TO vs. ZDV.TO - Yearly Performance Comparison

2026 (YTD)202520242023
ZIU.TO
BMO S&P/TSX 60 Index ETF		10.17%28.37%21.12%10.25%
ZDV.TO
BMO Canadian Dividend ETF		18.56%20.17%16.52%11.15%

Correlation

The correlation between ZIU.TO and ZDV.TO is 0.71, 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

0.71

Correlation (All Time)
Calculated using the full available price history since Oct 3, 2023

0.67

The correlation between ZIU.TO and ZDV.TO has been stable across timeframes, ranging from 0.67 to 0.71 - a consistent structural relationship.

Compare stocks, funds, or ETFs

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

BMO S&P/TSX 60 Index ETF

BMO Canadian Dividend ETF

Often compared with ZIU.TO:
ZIU.TO vs. XIU.TOZIU.TO vs. ZCN.TOZIU.TO vs. VFV.TOZIU.TO vs. VCE.TOZIU.TO vs. ^GSPCZIU.TO vs. FIE.TOZIU.TO vs. XDIV.TO
Often compared with ZDV.TO:
ZDV.TO vs. VDY.TOZDV.TO vs. XEI.TOZDV.TO vs. XDIV.TOZDV.TO vs. ZWC.TOZDV.TO vs. ZCN.TOZDV.TO vs. XDV.TOZDV.TO vs. ZDY.TO

Return for Risk

ZIU.TO vs. ZDV.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZIU.TO
ZIU.TO Risk / Return Rank: 8383
Overall Rank
ZIU.TO Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
ZIU.TO Sortino Ratio Rank: 8484
Sortino Ratio Rank
ZIU.TO Omega Ratio Rank: 8484
Omega Ratio Rank
ZIU.TO Calmar Ratio Rank: 7878
Calmar Ratio Rank
ZIU.TO Martin Ratio Rank: 8787
Martin Ratio Rank
ZDV.TO
ZDV.TO Risk / Return Rank: 8585
Overall Rank
ZDV.TO Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
ZDV.TO Sortino Ratio Rank: 7474
Sortino Ratio Rank
ZDV.TO Omega Ratio Rank: 9393
Omega Ratio Rank
ZDV.TO Calmar Ratio Rank: 8585
Calmar Ratio Rank
ZDV.TO Martin Ratio Rank: 8585
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.

ZIU.TO vs. ZDV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO S&P/TSX 60 Index ETF (ZIU.TO) and BMO Canadian Dividend ETF (ZDV.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.

ZIU.TOZDV.TODifference
Sharpe ratioReturn per unit of total volatility
2.80
2.95

-0.16

Sortino ratioReturn per unit of downside risk
3.80
3.40

+0.40

Omega ratioGain probability vs. loss probability

1.52

1.66

-0.14

Calmar ratioReturn relative to maximum drawdown

3.99

4.69

-0.70

Martin ratioReturn relative to average drawdown

19.04

18.24

+0.80

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZIU.TO vs. ZDV.TO - Sharpe Ratio Comparison

The current ZIU.TO Sharpe Ratio is 2.80, which is comparable to the ZDV.TO Sharpe Ratio of 2.95. The chart below compares the historical Sharpe Ratios of ZIU.TO and ZDV.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.

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Sharpe Ratios by Period

ZIU.TOZDV.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.80

2.95

-0.16

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

1.26

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.73

—

Sharpe Ratio (All Time)

Calculated using the full available price history

2.18

0.68

+1.50

Drawdowns

ZIU.TO vs. ZDV.TO - Drawdown Comparison

The maximum ZIU.TO drawdown since its inception was -12.35%, smaller than the maximum ZDV.TO drawdown of -43.21%. Use the drawdown chart below to compare losses from any high point for ZIU.TO and ZDV.TO.

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Drawdown Indicators

ZIU.TOZDV.TODifference

Max Drawdown

Largest peak-to-trough decline

-12.35%

-43.21%

+30.86%

Max Drawdown (1Y)

Largest decline over 1 year

-7.88%

-6.65%

-1.23%

Max Drawdown (3Y)

Largest decline over 3 years

—

-9.04%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-16.72%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-43.21%

—

Current Drawdown

Current decline from peak

-0.14%

-0.22%

+0.08%

Average Drawdown

Average peak-to-trough decline

-1.30%

-5.12%

+3.82%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.65%

1.71%

-0.06%

Volatility

ZIU.TO vs. ZDV.TO - Volatility Comparison

The current volatility for BMO S&P/TSX 60 Index ETF (ZIU.TO) is 2.25%, while BMO Canadian Dividend ETF (ZDV.TO) has a volatility of 2.49%. This indicates that ZIU.TO experiences smaller price fluctuations and is considered to be less risky than ZDV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ZIU.TOZDV.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.25%

2.49%

-0.24%

Volatility (6M)

Calculated over the trailing 6-month period

8.94%

9.69%

-0.75%

Volatility (1Y)

Calculated over the trailing 1-year period

11.25%

10.57%

+0.68%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.42%

10.94%

+1.48%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.42%

15.11%

-2.69%

ZIU.TO vs. ZDV.TO - Expense Ratio Comparison

ZIU.TO has a 0.15% expense ratio, which is lower than ZDV.TO's 0.39% expense ratio.

Dividends

ZIU.TO vs. ZDV.TO - Dividend Comparison

ZIU.TO's dividend yield for the trailing twelve months is around 2.10%, less than ZDV.TO's 2.68% yield.

PositionTTM20252024202320222021202020192018201720162015
ZDV.TO
BMO Canadian Dividend ETF		2.68%3.07%3.57%4.10%4.10%3.63%4.48%4.11%5.06%3.96%3.84%4.63%
ZIU.TO
BMO S&P/TSX 60 Index ETF		2.10%2.28%2.70%0.78%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

ZIU.TO and ZDV.TO have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ZIU.TO is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ZIU.TO is cheaper with a 0.15% expense ratio, compared with 0.39% for ZDV.TO.

Their fees differ too: 0.15% for ZIU.TO and 0.39% for ZDV.TO.

Portfolio Optimizer

Find the right allocation for ZIU.TO and ZDV.TO

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