ZUD.TO vs. DGR.TO
ZUD.TO (BMO US Dividend Hedged to CAD ETF) and DGR.TO (CI U.S. Quality Dividend Growth Index ETF) are both Dividend funds. Over the past 5 years, ZUD.TO returned 9.89%/yr vs 10.17%/yr for DGR.TO. A 0.58 correlation means they provide meaningful diversification when combined.
Performance
ZUD.TO vs. DGR.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZUD.TO achieves a 13.84% return, which is significantly higher than DGR.TO's 6.15% return.
ZUD.TO
- 1D
- 0.71%
- 1M
- -1.62%
- 6M
- 13.64%
- YTD
- 13.84%
- 1Y
- 19.13%
- 3Y*
- 15.35%
- 5Y*
- 9.89%
- 10Y*
- 9.31%
DGR.TO
- 1D
- 0.86%
- 1M
- -1.31%
- 6M
- 6.55%
- YTD
- 6.15%
- 1Y
- 11.81%
- 3Y*
- 12.87%
- 5Y*
- 10.17%
- 10Y*
- —
ZUD.TO vs. DGR.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZUD.TO BMO US Dividend Hedged to CAD ETF | 13.84% | 11.69% | 15.31% | 6.36% | -7.23% | 25.80% | -5.27% | 21.08% | -5.69% | 13.59% |
DGR.TO CI U.S. Quality Dividend Growth Index ETF | 6.15% | 10.57% | 16.04% | 17.92% | -8.16% | 24.28% | 10.08% | 28.48% | -7.88% | 24.43% |
Correlation
The correlation between ZUD.TO and DGR.TO is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Jul 15, 2016 | 0.58 |
The correlation between ZUD.TO and DGR.TO has been stable across timeframes, ranging from 0.58 to 0.67 - a consistent structural relationship.
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Return for Risk
ZUD.TO vs. DGR.TO — Risk / Return Rank
ZUD.TO
DGR.TO
ZUD.TO vs. DGR.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO US Dividend Hedged to CAD ETF (ZUD.TO) and CI U.S. Quality Dividend Growth Index ETF (DGR.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.
| ZUD.TO | DGR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.55 | ||
| Sortino ratioReturn per unit of downside risk | +0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.21 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.39 | 1.39 | +2.00 |
| Martin ratioReturn relative to average drawdown | 10.83 | 5.54 | +5.29 |
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Drawdowns
ZUD.TO vs. DGR.TO - Drawdown Comparison
The maximum ZUD.TO drawdown since its inception was -40.60%, which is greater than DGR.TO's maximum drawdown of -30.73%. Use the drawdown chart below to compare losses from any high point for ZUD.TO and DGR.TO.
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Drawdown Indicators
| ZUD.TO | DGR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.60% | -30.73% | -9.87% |
Max Drawdown (1Y)Largest decline over 1 year | -5.67% | -8.55% | +2.88% |
Max Drawdown (3Y)Largest decline over 3 years | -14.94% | -16.65% | +1.71% |
Max Drawdown (5Y)Largest decline over 5 years | -17.65% | -17.92% | +0.27% |
Max Drawdown (10Y)Largest decline over 10 years | -40.60% | — | — |
Current DrawdownCurrent decline from peak | -1.62% | -1.83% | +0.21% |
Average DrawdownAverage peak-to-trough decline | -4.08% | -3.52% | -0.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.77% | 2.14% | -0.37% |
Volatility
ZUD.TO vs. DGR.TO - Volatility Comparison
BMO US Dividend Hedged to CAD ETF (ZUD.TO) has a higher volatility of 3.63% compared to CI U.S. Quality Dividend Growth Index ETF (DGR.TO) at 3.40%. This indicates that ZUD.TO's price experiences larger fluctuations and is considered to be riskier than DGR.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZUD.TO | DGR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.63% | 3.40% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 7.83% | 8.17% | -0.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.45% | 10.48% | +0.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.24% | 14.12% | +1.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.99% | 15.22% | +1.77% |
Dividends
ZUD.TO vs. DGR.TO - Dividend Comparison
ZUD.TO's dividend yield for the trailing twelve months is around 1.48%, more than DGR.TO's 1.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DGR.TO CI U.S. Quality Dividend Growth Index ETF | 1.14% | 1.24% | 0.94% | 1.53% | 1.70% | 1.26% | 1.29% | 1.67% | 1.94% | 1.29% | 0.62% | 0.00% |
ZUD.TO BMO US Dividend Hedged to CAD ETF | 1.48% | 1.68% | 2.17% | 2.54% | 2.77% | 2.50% | 3.76% | 3.13% | 3.11% | 2.69% | 2.61% | 2.97% |
Frequently Asked Questions
ZUD.TO and DGR.TO have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: BMO and CI.
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