PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
ZLU.TO vs. SCHD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZLU.TO vs. SCHD

Last updated Jun 25, 2026

ZLU.TO (BMO Low Volatility US Equity ETF (CAD)) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds - ZLU.TO is a Large Cap Blend Equities fund actively managed by BMO, while SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. ZLU.TO is actively managed, while SCHD is passively managed. Over the past 10 years, ZLU.TO returned 9.68%/yr vs 13.77%/yr for SCHD. At a 0.46 correlation, their price movements are largely independent. ZLU.TO charges 0.33%/yr vs 0.06%/yr for SCHD.

Performance

ZLU.TO vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Low Volatility US Equity ETF (CAD) (ZLU.TO) and Schwab U.S. Dividend Equity ETF (SCHD). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

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

Returns By Period

In the year-to-date period, ZLU.TO achieves a 12.59% return, which is significantly lower than SCHD's 21.02% return. Over the past 10 years, ZLU.TO has underperformed SCHD with an annualized return of 9.68%, while SCHD has yielded a comparatively higher 13.77% annualized return.

ZLU.TO

1D
0.77%
1M
1.01%
YTD
12.59%
6M
7.41%
1Y
13.42%
3Y*
12.54%
5Y*
10.74%
10Y*
9.68%

SCHD

1D
-0.57%
1M
-0.33%
YTD
21.02%
6M
20.09%
1Y
27.54%
3Y*
17.25%
5Y*
11.50%
10Y*
13.77%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ZLU.TO vs. SCHD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ZLU.TO
BMO Low Volatility US Equity ETF (CAD)		12.59%2.03%21.63%-3.26%7.95%20.72%2.06%20.48%8.39%5.06%
SCHD
Schwab U.S. Dividend Equity ETF		21.00%-0.42%21.11%2.06%2.87%29.81%12.30%22.05%2.38%12.66%

Correlation

The correlation between ZLU.TO and SCHD is 0.56, 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

0.56

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

0.51

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

0.49

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

0.48

Correlation (All Time)
Calculated using the full available price history since Mar 28, 2013

0.46

The correlation between ZLU.TO and SCHD has been stable across timeframes, ranging from 0.46 to 0.56 - a consistent structural relationship.

ZLU.TO vs. SCHD - Sectors Allocation Comparison

Sectors
ZLU.TO
SCHD

Utilities

19.9%
0.0%

Technology

19.5%
19.4%

Healthcare

17.7%
18.4%

Consumer Defensive

11.4%
18.5%

Financial Services

10.2%
9.1%

Industrials

7.7%
7.4%

Communication Services

4.1%
6.0%

Consumer Cyclical

3.8%
6.7%

Real Estate

3.8%

-

Basic Materials

0.7%
1.2%

Energy

0.4%
14.6%

Utilities

ZLU.TO
19.9%
SCHD
0.0%

Technology

ZLU.TO
19.5%
SCHD
19.4%

Healthcare

ZLU.TO
17.7%
SCHD
18.4%

Consumer Defensive

ZLU.TO
11.4%
SCHD
18.5%

Financial Services

ZLU.TO
10.2%
SCHD
9.1%

Industrials

ZLU.TO
7.7%
SCHD
7.4%

Communication Services

ZLU.TO
4.1%
SCHD
6.0%

Consumer Cyclical

ZLU.TO
3.8%
SCHD
6.7%

Real Estate

ZLU.TO
3.8%
SCHD

-

Basic Materials

ZLU.TO
0.7%
SCHD
1.2%

Energy

ZLU.TO
0.4%
SCHD
14.6%

Compare stocks, funds, or ETFs

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

BMO Low Volatility US Equity ETF (CAD)

Schwab U.S. Dividend Equity ETF

Often compared with ZLU.TO:
ZLU.TO vs. ZSP.TOZLU.TO vs. XMU.TOZLU.TO vs. ZDY.TOZLU.TO vs. ZID.TOZLU.TO vs. XEQT.TOZLU.TO vs. XBAL.TOZLU.TO vs. SPLV
Often compared with SCHD:
SCHD vs. VOOSCHD vs. VYMSCHD vs. SPYSCHD vs. SCHGSCHD vs. JEPISCHD vs. FDVVSCHD vs. VIG

Return for Risk

ZLU.TO vs. SCHD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZLU.TO
ZLU.TO Risk / Return Rank: 3737
Overall Rank
ZLU.TO Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
ZLU.TO Sortino Ratio Rank: 3535
Sortino Ratio Rank
ZLU.TO Omega Ratio Rank: 3838
Omega Ratio Rank
ZLU.TO Calmar Ratio Rank: 3939
Calmar Ratio Rank
ZLU.TO Martin Ratio Rank: 3434
Martin Ratio Rank
SCHD
SCHD Risk / Return Rank: 7777
Overall Rank
SCHD Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
SCHD Sortino Ratio Rank: 8080
Sortino Ratio Rank
SCHD Omega Ratio Rank: 7070
Omega Ratio Rank
SCHD Calmar Ratio Rank: 9090
Calmar Ratio Rank
SCHD Martin Ratio Rank: 7373
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.

ZLU.TO vs. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Low Volatility US Equity ETF (CAD) (ZLU.TO) and Schwab U.S. Dividend Equity ETF (SCHD). 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.

ZLU.TOSCHDDifference
Sharpe ratioReturn per unit of total volatility
1.27
2.32

-1.05

Sortino ratioReturn per unit of downside risk
1.72
3.55

-1.83

Omega ratioGain probability vs. loss probability

1.23

1.40

-0.17

Calmar ratioReturn relative to maximum drawdown

1.79

6.68

-4.88

Martin ratioReturn relative to average drawdown

4.54

16.64

-12.09

ZLU.TO vs. SCHD - Sharpe Ratio Comparison

The current ZLU.TO Sharpe Ratio is 1.27, which is lower than the SCHD Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of ZLU.TO and SCHD, 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

ZLU.TO vs. SCHD - Drawdown Comparison

The maximum ZLU.TO drawdown since its inception was -25.49%, smaller than the maximum SCHD drawdown of -27.31%. Use the drawdown chart below to compare losses from any high point for ZLU.TO and SCHD.

Loading charts...

Drawdown Indicators

ZLU.TOSCHDDifference

Max Drawdown

Largest peak-to-trough decline

-25.49%

-27.31%

+1.82%

Max Drawdown (1Y)

Largest decline over 1 year

-7.52%

-4.14%

-3.38%

Max Drawdown (3Y)

Largest decline over 3 years

-9.15%

-15.24%

+6.09%

Max Drawdown (5Y)

Largest decline over 5 years

-10.30%

-15.24%

+4.94%

Max Drawdown (10Y)

Largest decline over 10 years

-25.49%

-27.31%

+1.82%

Current Drawdown

Current decline from peak

0.00%

-1.70%

+1.70%

Average Drawdown

Average peak-to-trough decline

-3.09%

-3.04%

-0.05%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.96%

1.66%

+1.30%

Volatility

ZLU.TO vs. SCHD - Volatility Comparison

The current volatility for BMO Low Volatility US Equity ETF (CAD) (ZLU.TO) is 2.90%, while Schwab U.S. Dividend Equity ETF (SCHD) has a volatility of 3.46%. This indicates that ZLU.TO experiences smaller price fluctuations and is considered to be less risky than SCHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

ZLU.TOSCHDDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.90%

3.46%

-0.56%

Volatility (6M)

Calculated over the trailing 6-month period

8.66%

8.75%

-0.09%

Volatility (1Y)

Calculated over the trailing 1-year period

10.58%

11.92%

-1.34%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.37%

15.56%

-4.19%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.92%

17.82%

-3.90%

ZLU.TO vs. SCHD - Expense Ratio Comparison

ZLU.TO has a 0.33% expense ratio, which is higher than SCHD's 0.06% expense ratio.

Dividends

ZLU.TO vs. SCHD - Dividend Comparison

ZLU.TO's dividend yield for the trailing twelve months is around 1.72%, less than SCHD's 3.33% yield.

PositionTTM20252024202320222021202020192018201720162015
SCHD
Schwab U.S. Dividend Equity ETF		3.33%3.82%3.64%3.49%3.39%2.78%3.16%2.98%3.06%2.63%2.89%2.97%
ZLU.TO
BMO Low Volatility US Equity ETF (CAD)		1.72%1.95%1.97%2.39%1.95%1.76%1.83%1.57%1.89%2.00%2.36%1.80%

Frequently Asked Questions

ZLU.TO and SCHD have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SCHD is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SCHD is cheaper with a 0.06% expense ratio, compared with 0.33% for ZLU.TO.

ZLU.TO is categorized as Large Cap Blend Equities, while SCHD is Dividend. They also come from different issuers: BMO and Charles Schwab. Their fees differ too: 0.33% for ZLU.TO and 0.06% for SCHD.

Portfolio Optimizer

Find the right allocation for ZLU.TO and SCHD

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