ZUH.TO vs. TDOC.TO
ZUH.TO (BMO Equal Weight US Health Care Hedged to CAD Index ETF) and TDOC.TO (TD Global Healthcare Leaders Index ETF) are both Health & Biotech Equities funds. ZUH.TO is passively managed, while TDOC.TO is actively managed. Over the past 5 years, ZUH.TO returned -1.47%/yr vs 5.24%/yr for TDOC.TO. A 0.76 correlation means they provide meaningful diversification when combined.
Performance
ZUH.TO vs. TDOC.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZUH.TO achieves a 5.34% return, which is significantly higher than TDOC.TO's 1.29% return.
ZUH.TO
- 1D
- -0.61%
- 1M
- 8.54%
- 6M
- 2.87%
- YTD
- 5.34%
- 1Y
- 18.09%
- 3Y*
- 1.99%
- 5Y*
- -1.47%
- 10Y*
- 6.26%
TDOC.TO
- 1D
- -0.60%
- 1M
- 4.94%
- 6M
- -1.86%
- YTD
- 1.29%
- 1Y
- 13.29%
- 3Y*
- 7.08%
- 5Y*
- 5.24%
- 10Y*
- —
ZUH.TO vs. TDOC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ZUH.TO BMO Equal Weight US Health Care Hedged to CAD Index ETF | 5.34% | 6.34% | -3.86% | -1.73% | -15.65% | 11.61% |
TDOC.TO TD Global Healthcare Leaders Index ETF | 1.29% | 8.36% | 10.24% | 1.71% | -1.37% | 15.59% |
Correlation
The correlation between ZUH.TO and TDOC.TO is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Apr 15, 2021 | 0.76 |
The correlation between ZUH.TO and TDOC.TO has been stable across timeframes, ranging from 0.76 to 0.83 - a consistent structural relationship.
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Return for Risk
ZUH.TO vs. TDOC.TO — Risk / Return Rank
ZUH.TO
TDOC.TO
ZUH.TO vs. TDOC.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Equal Weight US Health Care Hedged to CAD Index ETF (ZUH.TO) and TD Global Healthcare Leaders Index ETF (TDOC.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.
| ZUH.TO | TDOC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.17 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.57 | 1.13 | +0.43 |
| Martin ratioReturn relative to average drawdown | 3.84 | 2.69 | +1.15 |
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Drawdowns
ZUH.TO vs. TDOC.TO - Drawdown Comparison
The maximum ZUH.TO drawdown since its inception was -34.21%, which is greater than TDOC.TO's maximum drawdown of -17.52%. Use the drawdown chart below to compare losses from any high point for ZUH.TO and TDOC.TO.
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Drawdown Indicators
| ZUH.TO | TDOC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.21% | -17.52% | -16.69% |
Max Drawdown (1Y)Largest decline over 1 year | -11.59% | -11.77% | +0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -22.23% | -12.66% | -9.57% |
Max Drawdown (5Y)Largest decline over 5 years | -34.21% | -17.52% | -16.69% |
Max Drawdown (10Y)Largest decline over 10 years | -34.21% | — | — |
Current DrawdownCurrent decline from peak | -15.10% | -3.93% | -11.17% |
Average DrawdownAverage peak-to-trough decline | -9.25% | -4.82% | -4.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.72% | 4.95% | -0.23% |
Volatility
ZUH.TO vs. TDOC.TO - Volatility Comparison
BMO Equal Weight US Health Care Hedged to CAD Index ETF (ZUH.TO) has a higher volatility of 5.63% compared to TD Global Healthcare Leaders Index ETF (TDOC.TO) at 5.23%. This indicates that ZUH.TO's price experiences larger fluctuations and is considered to be riskier than TDOC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZUH.TO | TDOC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.63% | 5.23% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 12.02% | 10.81% | +1.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.12% | 14.26% | +1.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.39% | 13.08% | +4.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.56% | 12.94% | +5.62% |
Dividends
ZUH.TO vs. TDOC.TO - Dividend Comparison
ZUH.TO's dividend yield for the trailing twelve months is around 0.52%, less than TDOC.TO's 1.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TDOC.TO TD Global Healthcare Leaders Index ETF | 1.18% | 1.09% | 3.68% | 0.98% | 1.16% | 0.60% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZUH.TO BMO Equal Weight US Health Care Hedged to CAD Index ETF | 0.52% | 0.55% | 0.74% | 0.73% | 0.43% | 0.12% | 0.37% | 0.33% | 0.33% | 0.36% | 0.98% | 0.48% |
Frequently Asked Questions
ZUH.TO and TDOC.TO have a correlation of 0.83, 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 TD.
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