ZSDB.TO vs. ZDV.TO
ZSDB.TO (BMO Short-Term Discount Bond ETF) and ZDV.TO (BMO Canadian Dividend ETF) are both exchange-traded funds - ZSDB.TO is a Short-Term Bond fund actively managed by BMO, while ZDV.TO is a Canada Equities fund actively managed by BMO. Both are actively managed. Over the past 3 years, ZSDB.TO returned 4.81%/yr vs 20.39%/yr for ZDV.TO. At a 0.13 correlation, their price movements are largely independent. ZSDB.TO charges 0.09%/yr vs 0.39%/yr for ZDV.TO.
Performance
ZSDB.TO vs. ZDV.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZSDB.TO achieves a 0.74% return, which is significantly lower than ZDV.TO's 18.56% return.
ZSDB.TO
- 1D
- -0.03%
- 1M
- 0.86%
- YTD
- 0.74%
- 6M
- 0.77%
- 1Y
- 2.82%
- 3Y*
- 4.81%
- 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%
ZSDB.TO vs. ZDV.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ZSDB.TO BMO Short-Term Discount Bond ETF | 0.74% | 3.93% | 5.94% | 4.67% | -2.83% |
ZDV.TO BMO Canadian Dividend ETF | 18.56% | 20.17% | 16.52% | 7.83% | -3.04% |
Correlation
The correlation between ZSDB.TO and ZDV.TO is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jan 28, 2022 | 0.13 |
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Return for Risk
ZSDB.TO vs. ZDV.TO — Risk / Return Rank
ZSDB.TO
ZDV.TO
ZSDB.TO vs. ZDV.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Short-Term Discount Bond ETF (ZSDB.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.
| ZSDB.TO | ZDV.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.43 | ||
| Sortino ratioReturn per unit of downside risk | -1.29 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.66 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | 1.99 | 4.69 | -2.70 |
| Martin ratioReturn relative to average drawdown | 6.59 | 18.24 | -11.66 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ZSDB.TO | ZDV.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.53 | 2.95 | -1.43 |
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 | 1.17 | 0.68 | +0.49 |
Drawdowns
ZSDB.TO vs. ZDV.TO - Drawdown Comparison
The maximum ZSDB.TO drawdown since its inception was -4.88%, smaller than the maximum ZDV.TO drawdown of -43.21%. Use the drawdown chart below to compare losses from any high point for ZSDB.TO and ZDV.TO.
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Drawdown Indicators
| ZSDB.TO | ZDV.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.88% | -43.21% | +38.33% |
Max Drawdown (1Y)Largest decline over 1 year | -1.44% | -6.65% | +5.21% |
Max Drawdown (3Y)Largest decline over 3 years | -1.44% | -9.04% | +7.60% |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.72% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.21% | — |
Current DrawdownCurrent decline from peak | -0.18% | -0.22% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -0.72% | -5.12% | +4.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 1.71% | -1.28% |
Volatility
ZSDB.TO vs. ZDV.TO - Volatility Comparison
The current volatility for BMO Short-Term Discount Bond ETF (ZSDB.TO) is 0.63%, while BMO Canadian Dividend ETF (ZDV.TO) has a volatility of 2.49%. This indicates that ZSDB.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
| ZSDB.TO | ZDV.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.63% | 2.49% | -1.86% |
Volatility (6M)Calculated over the trailing 6-month period | 1.58% | 9.69% | -8.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.89% | 10.57% | -8.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.52% | 10.94% | -7.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.52% | 15.11% | -11.59% |
ZSDB.TO vs. ZDV.TO - Expense Ratio Comparison
ZSDB.TO has a 0.09% expense ratio, which is lower than ZDV.TO's 0.39% expense ratio.
Dividends
ZSDB.TO vs. ZDV.TO - Dividend Comparison
ZSDB.TO's dividend yield for the trailing twelve months is around 1.30%, less than ZDV.TO's 2.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
ZSDB.TO BMO Short-Term Discount Bond ETF | 1.30% | 1.28% | 1.35% | 1.77% | 1.77% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZSDB.TO and ZDV.TO have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZSDB.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZSDB.TO is cheaper with a 0.09% expense ratio, compared with 0.39% for ZDV.TO.
ZSDB.TO is categorized as Short-Term Bond, while ZDV.TO is Canada Equities. Their fees differ too: 0.09% for ZSDB.TO and 0.39% for ZDV.TO.
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