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ZXLK.TO vs. ZDV.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZXLK.TO vs. ZDV.TO

Last updated Jun 4, 2026

ZXLK.TO (BMO SPDR Technology Select Sector Index ETF) and ZDV.TO (BMO Canadian Dividend ETF) are both exchange-traded funds - ZXLK.TO is a Technology Equities fund tracking the Technology Select Sector Index, while ZDV.TO is a Canada Equities fund actively managed by BMO. ZXLK.TO is passively managed, while ZDV.TO is actively managed. Over the past year, ZXLK.TO returned 60.51% vs 31.08% for ZDV.TO. At a 0.16 correlation, their price movements are largely independent. ZXLK.TO charges 0.21%/yr vs 0.39%/yr for ZDV.TO.

Performance

ZXLK.TO vs. ZDV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO SPDR Technology Select Sector Index ETF (ZXLK.TO) and BMO Canadian Dividend ETF (ZDV.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, ZXLK.TO achieves a 37.64% return, which is significantly higher than ZDV.TO's 18.56% return.

ZXLK.TO

1D
-0.16%
1M
24.03%
YTD
37.64%
6M
28.47%
1Y
60.51%
3Y*
—
5Y*
—
10Y*
—

ZDV.TO

1D
-0.22%
1M
4.61%
YTD
18.56%
6M
13.14%
1Y
31.08%
3Y*
20.39%
5Y*
13.72%
10Y*
10.97%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ZXLK.TO vs. ZDV.TO - Yearly Performance Comparison

2026 (YTD)2025
ZXLK.TO
BMO SPDR Technology Select Sector Index ETF		37.64%19.04%
ZDV.TO
BMO Canadian Dividend ETF		18.56%16.85%

Correlation

The correlation between ZXLK.TO and ZDV.TO is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.18

Correlation (All Time)
Calculated using the full available price history since Feb 7, 2025

0.16

Compare stocks, funds, or ETFs

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

BMO SPDR Technology Select Sector Index ETF

BMO Canadian Dividend ETF

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Often compared with ZDV.TO:
ZDV.TO vs. VDY.TOZDV.TO vs. XEI.TOZDV.TO vs. XDIV.TOZDV.TO vs. ZWC.TOZDV.TO vs. ZCN.TOZDV.TO vs. XDV.TOZDV.TO vs. ZDY.TO

Return for Risk

ZXLK.TO vs. ZDV.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZXLK.TO
ZXLK.TO Risk / Return Rank: 7171
Overall Rank
ZXLK.TO Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
ZXLK.TO Sortino Ratio Rank: 7878
Sortino Ratio Rank
ZXLK.TO Omega Ratio Rank: 8484
Omega Ratio Rank
ZXLK.TO Calmar Ratio Rank: 6060
Calmar Ratio Rank
ZXLK.TO Martin Ratio Rank: 4747
Martin Ratio Rank
ZDV.TO
ZDV.TO Risk / Return Rank: 8585
Overall Rank
ZDV.TO Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
ZDV.TO Sortino Ratio Rank: 7474
Sortino Ratio Rank
ZDV.TO Omega Ratio Rank: 9393
Omega Ratio Rank
ZDV.TO Calmar Ratio Rank: 8585
Calmar Ratio Rank
ZDV.TO Martin Ratio Rank: 8585
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.

ZXLK.TO vs. ZDV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO SPDR Technology Select Sector Index ETF (ZXLK.TO) and BMO Canadian Dividend ETF (ZDV.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.

ZXLK.TOZDV.TODifference
Sharpe ratioReturn per unit of total volatility
2.87
2.95

-0.09

Sortino ratioReturn per unit of downside risk
3.52
3.40

+0.12

Omega ratioGain probability vs. loss probability

1.51

1.66

-0.15

Calmar ratioReturn relative to maximum drawdown

2.90

4.69

-1.79

Martin ratioReturn relative to average drawdown

7.81

18.24

-10.44

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZXLK.TO vs. ZDV.TO - Sharpe Ratio Comparison

The current ZXLK.TO Sharpe Ratio is 2.87, which is comparable to the ZDV.TO Sharpe Ratio of 2.95. The chart below compares the historical Sharpe Ratios of ZXLK.TO and ZDV.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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Sharpe Ratios by Period

ZXLK.TOZDV.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.87

2.95

-0.09

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

1.26

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.73

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.58

0.68

+0.90

Drawdowns

ZXLK.TO vs. ZDV.TO - Drawdown Comparison

The maximum ZXLK.TO drawdown since its inception was -22.20%, smaller than the maximum ZDV.TO drawdown of -43.21%. Use the drawdown chart below to compare losses from any high point for ZXLK.TO and ZDV.TO.

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Drawdown Indicators

ZXLK.TOZDV.TODifference

Max Drawdown

Largest peak-to-trough decline

-22.20%

-43.21%

+21.01%

Max Drawdown (1Y)

Largest decline over 1 year

-20.93%

-6.65%

-14.28%

Max Drawdown (3Y)

Largest decline over 3 years

—

-9.04%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-16.72%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-43.21%

—

Current Drawdown

Current decline from peak

-0.16%

-0.22%

+0.06%

Average Drawdown

Average peak-to-trough decline

-5.70%

-5.12%

-0.58%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.78%

1.71%

+6.07%

Volatility

ZXLK.TO vs. ZDV.TO - Volatility Comparison

BMO SPDR Technology Select Sector Index ETF (ZXLK.TO) has a higher volatility of 7.11% compared to BMO Canadian Dividend ETF (ZDV.TO) at 2.49%. This indicates that ZXLK.TO's price experiences larger fluctuations and is considered to be riskier than ZDV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ZXLK.TOZDV.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

7.11%

2.49%

+4.62%

Volatility (6M)

Calculated over the trailing 6-month period

17.14%

9.69%

+7.45%

Volatility (1Y)

Calculated over the trailing 1-year period

21.27%

10.57%

+10.70%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

28.96%

10.94%

+18.02%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

28.96%

15.11%

+13.85%

ZXLK.TO vs. ZDV.TO - Expense Ratio Comparison

ZXLK.TO has a 0.21% expense ratio, which is lower than ZDV.TO's 0.39% expense ratio.

Dividends

ZXLK.TO vs. ZDV.TO - Dividend Comparison

ZXLK.TO's dividend yield for the trailing twelve months is around 0.21%, less than ZDV.TO's 2.68% yield.

PositionTTM20252024202320222021202020192018201720162015
ZDV.TO
BMO Canadian Dividend ETF		2.68%3.07%3.57%4.10%4.10%3.63%4.48%4.11%5.06%3.96%3.84%4.63%
ZXLK.TO
BMO SPDR Technology Select Sector Index ETF		0.21%0.29%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

ZXLK.TO and ZDV.TO have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ZXLK.TO is cheaper at 0.21% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ZXLK.TO is cheaper with a 0.21% expense ratio, compared with 0.39% for ZDV.TO.

ZXLK.TO is categorized as Technology Equities, while ZDV.TO is Canada Equities. Their fees differ too: 0.21% for ZXLK.TO and 0.39% for ZDV.TO.

Portfolio Optimizer

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