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ZUD.TO vs. DXU.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZUD.TO vs. DXU.TO

Last updated Jul 1, 2026
See Documentation

ZUD.TO (BMO US Dividend Hedged to CAD ETF) and DXU.TO (Dynamic Active U.S. Dividend ETF) are both Dividend funds. Over the past 5 years, ZUD.TO returned 10.22%/yr vs 15.31%/yr for DXU.TO. At a 0.42 correlation, their price movements are largely independent. ZUD.TO charges 0.30%/yr vs 0.75%/yr for DXU.TO.

Performance

ZUD.TO vs. DXU.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO US Dividend Hedged to CAD ETF (ZUD.TO) and Dynamic Active U.S. Dividend ETF (DXU.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, ZUD.TO achieves a 14.29% return, which is significantly lower than DXU.TO's 31.08% return.

ZUD.TO

1D
0.18%
1M
-0.75%
YTD
14.29%
6M
13.68%
1Y
21.33%
3Y*
15.49%
5Y*
10.22%
10Y*
9.32%

DXU.TO

1D
2.55%
1M
7.59%
YTD
31.08%
6M
30.49%
1Y
38.25%
3Y*
28.23%
5Y*
15.31%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

ZUD.TO vs. DXU.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ZUD.TO
BMO US Dividend Hedged to CAD ETF		14.29%11.69%15.31%6.36%-7.23%25.80%-5.27%21.08%-5.69%5.88%
DXU.TO
Dynamic Active U.S. Dividend ETF		31.08%9.36%38.05%9.43%-14.91%14.93%24.17%17.48%12.64%8.14%

Correlation

The correlation between ZUD.TO and DXU.TO is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.41

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

0.38

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

0.41

Correlation (All Time)
Calculated using the full available price history since Oct 3, 2017

0.42

Compare stocks, funds, or ETFs

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

BMO US Dividend Hedged to CAD ETF

Dynamic Active U.S. Dividend ETF

Often compared with DXU.TO:
DXU.TO vs. ZDIV.TODXU.TO vs. DXQ.TODXU.TO vs. VDY.TODXU.TO vs. CWIN.TODXU.TO vs. DXBB.TODXU.TO vs. TBNK.TODXU.TO vs. DXMO.TO

Return for Risk

ZUD.TO vs. DXU.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZUD.TO
ZUD.TO Risk / Return Rank: 7272
Overall Rank
ZUD.TO Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
ZUD.TO Sortino Ratio Rank: 6767
Sortino Ratio Rank
ZUD.TO Omega Ratio Rank: 6666
Omega Ratio Rank
ZUD.TO Calmar Ratio Rank: 8282
Calmar Ratio Rank
ZUD.TO Martin Ratio Rank: 7575
Martin Ratio Rank
DXU.TO
DXU.TO Risk / Return Rank: 7474
Overall Rank
DXU.TO Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
DXU.TO Sortino Ratio Rank: 6464
Sortino Ratio Rank
DXU.TO Omega Ratio Rank: 7171
Omega Ratio Rank
DXU.TO Calmar Ratio Rank: 8686
Calmar Ratio Rank
DXU.TO Martin Ratio Rank: 7777
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.

ZUD.TO vs. DXU.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 Dynamic Active U.S. Dividend ETF (DXU.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.TODXU.TODifference
Sharpe ratioReturn per unit of total volatility
1.88
1.94

-0.06

Sortino ratioReturn per unit of downside risk
2.64
2.55

+0.10

Omega ratioGain probability vs. loss probability

1.34

1.36

-0.02

Calmar ratioReturn relative to maximum drawdown

3.78

4.20

-0.42

Martin ratioReturn relative to average drawdown

12.14

12.61

-0.47

ZUD.TO vs. DXU.TO - Sharpe Ratio Comparison

The current ZUD.TO Sharpe Ratio is 1.88, which is comparable to the DXU.TO Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of ZUD.TO and DXU.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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Drawdowns

ZUD.TO vs. DXU.TO - Drawdown Comparison

The maximum ZUD.TO drawdown since its inception was -40.60%, which is greater than DXU.TO's maximum drawdown of -29.23%. Use the drawdown chart below to compare losses from any high point for ZUD.TO and DXU.TO.

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Drawdown Indicators

ZUD.TODXU.TODifference

Max Drawdown

Largest peak-to-trough decline

-40.60%

-29.23%

-11.37%

Max Drawdown (1Y)

Largest decline over 1 year

-5.67%

-9.15%

+3.48%

Max Drawdown (3Y)

Largest decline over 3 years

-14.94%

-23.80%

+8.86%

Max Drawdown (5Y)

Largest decline over 5 years

-17.65%

-24.83%

+7.18%

Max Drawdown (10Y)

Largest decline over 10 years

-40.60%

—

—

Current Drawdown

Current decline from peak

-1.23%

0.00%

-1.23%

Average Drawdown

Average peak-to-trough decline

-4.08%

-6.64%

+2.56%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.76%

3.04%

-1.28%

Volatility

ZUD.TO vs. DXU.TO - Volatility Comparison

The current volatility for BMO US Dividend Hedged to CAD ETF (ZUD.TO) is 3.42%, while Dynamic Active U.S. Dividend ETF (DXU.TO) has a volatility of 9.50%. This indicates that ZUD.TO experiences smaller price fluctuations and is considered to be less risky than DXU.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.TODXU.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.42%

9.50%

-6.08%

Volatility (6M)

Calculated over the trailing 6-month period

7.74%

15.87%

-8.13%

Volatility (1Y)

Calculated over the trailing 1-year period

11.46%

19.78%

-8.32%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.24%

18.55%

-3.31%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.99%

19.69%

-2.70%

ZUD.TO vs. DXU.TO - Expense Ratio Comparison

ZUD.TO has a 0.30% expense ratio, which is lower than DXU.TO's 0.75% expense ratio.

Dividends

ZUD.TO vs. DXU.TO - Dividend Comparison

ZUD.TO's dividend yield for the trailing twelve months is around 1.47%, while DXU.TO has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
DXU.TO
Dynamic Active U.S. Dividend ETF		0.00%0.00%0.00%0.00%0.22%0.00%0.00%0.00%0.00%0.11%0.00%0.00%
ZUD.TO
BMO US Dividend Hedged to CAD ETF		1.47%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 DXU.TO have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ZUD.TO is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ZUD.TO is cheaper with a 0.30% expense ratio, compared with 0.75% for DXU.TO.

They also come from different issuers: BMO and Dynamic. Their fees differ too: 0.30% for ZUD.TO and 0.75% for DXU.TO.

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