ZUD.TO vs. ZQQ.TO
ZUD.TO (BMO US Dividend Hedged to CAD ETF) and ZQQ.TO (BMO NASDAQ 100 Equity (CAD Hedged)) are both exchange-traded funds - ZUD.TO is a Dividend fund managed by BMO, while ZQQ.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 10 years, ZUD.TO returned 9.32%/yr vs 19.81%/yr for ZQQ.TO. At a 0.50 correlation, their price movements are largely independent. ZUD.TO charges 0.30%/yr vs 0.39%/yr for ZQQ.TO.
Performance
ZUD.TO vs. ZQQ.TO - Performance Comparison
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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 ZQQ.TO's 18.49% return. Over the past 10 years, ZUD.TO has underperformed ZQQ.TO with an annualized return of 9.32%, while ZQQ.TO has yielded a comparatively higher 19.81% annualized 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%
ZQQ.TO
- 1D
- 1.60%
- 1M
- -0.35%
- YTD
- 18.49%
- 6M
- 17.55%
- 1Y
- 26.82%
- 3Y*
- 22.92%
- 5Y*
- 13.78%
- 10Y*
- 19.81%
ZUD.TO vs. ZQQ.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% | 13.59% |
ZQQ.TO BMO NASDAQ 100 Equity (CAD Hedged) | 18.49% | 14.59% | 24.00% | 52.52% | -33.75% | 26.68% | 45.33% | 37.08% | -2.29% | 31.51% |
Correlation
The correlation between ZUD.TO and ZQQ.TO is 0.52, 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 | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2013 | 0.50 |
The correlation between ZUD.TO and ZQQ.TO has been stable across timeframes, ranging from 0.49 to 0.52 - a consistent structural relationship.
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Return for Risk
ZUD.TO vs. ZQQ.TO — Risk / Return Rank
ZUD.TO
ZQQ.TO
ZUD.TO vs. ZQQ.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 BMO NASDAQ 100 Equity (CAD Hedged) (ZQQ.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 | ZQQ.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | +0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.27 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.78 | 1.72 | +2.06 |
| Martin ratioReturn relative to average drawdown | 12.14 | 5.44 | +6.70 |
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Drawdowns
ZUD.TO vs. ZQQ.TO - Drawdown Comparison
The maximum ZUD.TO drawdown since its inception was -40.60%, which is greater than ZQQ.TO's maximum drawdown of -36.39%. Use the drawdown chart below to compare losses from any high point for ZUD.TO and ZQQ.TO.
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Drawdown Indicators
| ZUD.TO | ZQQ.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.60% | -36.39% | -4.21% |
Max Drawdown (1Y)Largest decline over 1 year | -5.67% | -15.65% | +9.98% |
Max Drawdown (3Y)Largest decline over 3 years | -14.94% | -22.79% | +7.85% |
Max Drawdown (5Y)Largest decline over 5 years | -17.65% | -36.39% | +18.74% |
Max Drawdown (10Y)Largest decline over 10 years | -40.60% | -36.39% | -4.21% |
Current DrawdownCurrent decline from peak | -1.23% | -1.39% | +0.16% |
Average DrawdownAverage peak-to-trough decline | -4.08% | -5.46% | +1.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.76% | 4.94% | -3.18% |
Volatility
ZUD.TO vs. ZQQ.TO - Volatility Comparison
The current volatility for BMO US Dividend Hedged to CAD ETF (ZUD.TO) is 3.42%, while BMO NASDAQ 100 Equity (CAD Hedged) (ZQQ.TO) has a volatility of 9.57%. This indicates that ZUD.TO experiences smaller price fluctuations and is considered to be less risky than ZQQ.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 | ZQQ.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.42% | 9.57% | -6.15% |
Volatility (6M)Calculated over the trailing 6-month period | 7.74% | 14.82% | -7.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.46% | 18.32% | -6.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.24% | 22.94% | -7.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.99% | 22.54% | -5.55% |
ZUD.TO vs. ZQQ.TO - Expense Ratio Comparison
ZUD.TO has a 0.30% expense ratio, which is lower than ZQQ.TO's 0.39% expense ratio.
Dividends
ZUD.TO vs. ZQQ.TO - Dividend Comparison
ZUD.TO's dividend yield for the trailing twelve months is around 1.47%, more than ZQQ.TO's 0.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ZQQ.TO BMO NASDAQ 100 Equity (CAD Hedged) | 0.22% | 0.27% | 0.37% | 0.32% | 0.45% | 0.14% | 0.41% | 0.51% | 0.64% | 0.57% | 1.60% | 0.81% |
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 ZQQ.TO have a correlation of 0.52, 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 0.39% for ZQQ.TO.
ZUD.TO is categorized as Dividend, while ZQQ.TO is Nasdaq-100. Their fees differ too: 0.30% for ZUD.TO and 0.39% for ZQQ.TO.
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