ZUD.TO vs. XDU.TO
ZUD.TO (BMO US Dividend Hedged to CAD ETF) and XDU.TO (iShares Core MSCI US Quality Dividend Index ETF) are both exchange-traded funds - ZUD.TO is a Dividend fund managed by BMO, while XDU.TO is a Large Cap Value Equities fund tracking the Morningstar US Market TR CAD. Over the past 5 years, ZUD.TO returned 10.22%/yr vs 9.60%/yr for XDU.TO. A 0.56 correlation means they provide meaningful diversification when combined. ZUD.TO charges 0.30%/yr vs 0.16%/yr for XDU.TO.
Performance
ZUD.TO vs. XDU.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with ZUD.TO having a 14.29% return and XDU.TO slightly higher at 14.84%.
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%
XDU.TO
- 1D
- -0.46%
- 1M
- 3.61%
- YTD
- 14.84%
- 6M
- 14.28%
- 1Y
- 18.75%
- 3Y*
- 12.38%
- 5Y*
- 9.60%
- 10Y*
- —
ZUD.TO vs. XDU.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 9.07% |
XDU.TO iShares Core MSCI US Quality Dividend Index ETF | 14.84% | 2.51% | 14.32% | 3.75% | -3.70% | 28.08% | -0.76% | 15.98% | 4.69% | 4.44% |
Correlation
The correlation between ZUD.TO and XDU.TO is 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jun 13, 2017 | 0.56 |
The correlation between ZUD.TO and XDU.TO has been stable across timeframes, ranging from 0.56 to 0.62 - a consistent structural relationship.
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Return for Risk
ZUD.TO vs. XDU.TO — Risk / Return Rank
ZUD.TO
XDU.TO
ZUD.TO vs. XDU.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 iShares Core MSCI US Quality Dividend Index ETF (XDU.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 | XDU.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.32 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.78 | 3.07 | +0.71 |
| Martin ratioReturn relative to average drawdown | 12.14 | 9.12 | +3.02 |
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Drawdowns
ZUD.TO vs. XDU.TO - Drawdown Comparison
The maximum ZUD.TO drawdown since its inception was -40.60%, which is greater than XDU.TO's maximum drawdown of -28.56%. Use the drawdown chart below to compare losses from any high point for ZUD.TO and XDU.TO.
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Drawdown Indicators
| ZUD.TO | XDU.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.60% | -28.56% | -12.04% |
Max Drawdown (1Y)Largest decline over 1 year | -5.67% | -6.13% | +0.46% |
Max Drawdown (3Y)Largest decline over 3 years | -14.94% | -16.67% | +1.73% |
Max Drawdown (5Y)Largest decline over 5 years | -17.65% | -16.67% | -0.98% |
Max Drawdown (10Y)Largest decline over 10 years | -40.60% | — | — |
Current DrawdownCurrent decline from peak | -1.23% | -0.51% | -0.72% |
Average DrawdownAverage peak-to-trough decline | -4.08% | -5.98% | +1.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.76% | 2.06% | -0.30% |
Volatility
ZUD.TO vs. XDU.TO - Volatility Comparison
BMO US Dividend Hedged to CAD ETF (ZUD.TO) has a higher volatility of 3.42% compared to iShares Core MSCI US Quality Dividend Index ETF (XDU.TO) at 1.87%. This indicates that ZUD.TO's price experiences larger fluctuations and is considered to be riskier than XDU.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 | XDU.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.42% | 1.87% | +1.55% |
Volatility (6M)Calculated over the trailing 6-month period | 7.74% | 7.23% | +0.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.46% | 10.70% | +0.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.24% | 18.85% | -3.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.99% | 28.98% | -11.99% |
ZUD.TO vs. XDU.TO - Expense Ratio Comparison
ZUD.TO has a 0.30% expense ratio, which is higher than XDU.TO's 0.16% expense ratio.
Dividends
ZUD.TO vs. XDU.TO - Dividend Comparison
ZUD.TO's dividend yield for the trailing twelve months is around 1.47%, less than XDU.TO's 2.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XDU.TO iShares Core MSCI US Quality Dividend Index ETF | 2.24% | 2.54% | 2.31% | 2.53% | 2.25% | 2.13% | 2.99% | 2.54% | 2.49% | 1.39% | 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 XDU.TO have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XDU.TO is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XDU.TO is cheaper with a 0.16% expense ratio, compared with 0.30% for ZUD.TO.
ZUD.TO is categorized as Dividend, while XDU.TO is Large Cap Value Equities. They also come from different issuers: BMO and iShares. Their fees differ too: 0.30% for ZUD.TO and 0.16% for XDU.TO.
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