ZQB.TO vs. ZDV.TO
ZQB.TO (BMO High Quality Corporate Bond Index ETF) and ZDV.TO (BMO Canadian Dividend ETF) are both exchange-traded funds - ZQB.TO is a Corporate Bonds fund managed by BMO, while ZDV.TO is a Canada Equities fund actively managed by BMO. Over the past 5 years, ZQB.TO returned 2.46%/yr vs 15.82%/yr for ZDV.TO. At a 0.09 correlation, their price movements are largely independent.
Performance
ZQB.TO vs. ZDV.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZQB.TO achieves a 1.59% return, which is significantly lower than ZDV.TO's 19.50% return.
ZQB.TO
- 1D
- -0.17%
- 1M
- 0.26%
- YTD
- 1.59%
- 6M
- 1.56%
- 1Y
- 3.80%
- 3Y*
- 6.05%
- 5Y*
- 2.46%
- 10Y*
- —
ZDV.TO
- 1D
- -0.09%
- 1M
- 1.72%
- YTD
- 19.50%
- 6M
- 19.28%
- 1Y
- 40.41%
- 3Y*
- 23.52%
- 5Y*
- 15.82%
- 10Y*
- 12.20%
ZQB.TO vs. ZDV.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ZQB.TO BMO High Quality Corporate Bond Index ETF | 1.59% | 4.80% | 6.78% | 6.49% | -5.39% | -2.02% | 5.33% |
ZDV.TO BMO Canadian Dividend ETF | 19.50% | 28.82% | 16.83% | 8.14% | -1.66% | 28.75% | -7.70% |
Correlation
The correlation between ZQB.TO and ZDV.TO is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Feb 12, 2020 | 0.09 |
The correlation between ZQB.TO and ZDV.TO shifts across timeframes, from 0.09 (all time) to 0.19 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ZQB.TO vs. ZDV.TO — Risk / Return Rank
ZQB.TO
ZDV.TO
ZQB.TO vs. ZDV.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO High Quality Corporate Bond Index ETF (ZQB.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.
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.
| ZQB.TO | ZDV.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.97 | ||
| Sortino ratioReturn per unit of downside risk | -3.91 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.92 | -0.57 |
| Calmar ratioReturn relative to maximum drawdown | 2.13 | 7.49 | -5.36 |
| Martin ratioReturn relative to average drawdown | 7.54 | 38.44 | -30.91 |
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Drawdowns
ZQB.TO vs. ZDV.TO - Drawdown Comparison
The maximum ZQB.TO drawdown since its inception was -10.18%, smaller than the maximum ZDV.TO drawdown of -43.20%. Use the drawdown chart below to compare losses from any high point for ZQB.TO and ZDV.TO.
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Drawdown Indicators
| ZQB.TO | ZDV.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.18% | -43.20% | +33.02% |
Max Drawdown (1Y)Largest decline over 1 year | -1.79% | -5.42% | +3.63% |
Max Drawdown (3Y)Largest decline over 3 years | -1.79% | -9.04% | +7.25% |
Max Drawdown (5Y)Largest decline over 5 years | -9.64% | -16.61% | +6.97% |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.20% | — |
Current DrawdownCurrent decline from peak | -0.17% | -0.97% | +0.80% |
Average DrawdownAverage peak-to-trough decline | -2.34% | -4.92% | +2.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.51% | 1.05% | -0.54% |
Volatility
ZQB.TO vs. ZDV.TO - Volatility Comparison
The current volatility for BMO High Quality Corporate Bond Index ETF (ZQB.TO) is 0.70%, while BMO Canadian Dividend ETF (ZDV.TO) has a volatility of 2.81%. This indicates that ZQB.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
| ZQB.TO | ZDV.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.70% | 2.81% | -2.11% |
Volatility (6M)Calculated over the trailing 6-month period | 1.79% | 7.29% | -5.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.21% | 8.65% | -6.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.51% | 10.59% | -7.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.18% | 14.93% | -10.75% |
Dividends
ZQB.TO vs. ZDV.TO - Dividend Comparison
ZQB.TO's dividend yield for the trailing twelve months is around 3.92%, more than ZDV.TO's 2.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ZDV.TO BMO Canadian Dividend ETF | 2.69% | 3.07% | 3.82% | 4.39% | 4.38% | 3.88% | 4.79% | 4.53% | 5.28% | 4.04% | 4.31% | 4.95% |
ZQB.TO BMO High Quality Corporate Bond Index ETF | 3.92% | 3.67% | 3.39% | 3.00% | 2.80% | 2.58% | 2.46% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZQB.TO and ZDV.TO have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ZQB.TO is categorized as Corporate Bonds, while ZDV.TO is Canada Equities.
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