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BMO US Put Write Hedged to CAD ETF (ZPH.TO) Alternatives

ETF · Currency in CAD · Last updated Jul 1, 2026

The BMO US Put Write Hedged to CAD ETF (ZPH) generates income by systematically writing put options on U.S. equities, with currency hedged to Canadian dollars.

BMO US Put Write Hedged to CAD ETF (ZPH.TO) belongs to the Derivative Income category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with ZPH.TO. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to ZPH.TO

ZPH.TO charges 0.65% annually. There are 38 ETFs in the Derivative Income category with lower expense ratios, going as low as 0.04%.

SymbolNameExpense RatioAUMInception
USCL.TO
Global X Enhanced S&P 500 Covered Call ETF0.04%246.61MJul 2023ZPH.TO vs USCL.TO
ECHI.TO
Ninepoint Enhanced Canadian HighShares ETF0.29%—Aug 2025ZPH.TO vs ECHI.TO
EQLI.TO
Invesco S&P 500 Equal Weight Income Advantage ETF0.29%155.19MNov 2025ZPH.TO vs EQLI.TO
HBIL.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedg...0.35%227.40MSep 2024ZPH.TO vs HBIL.TO
JEPQ.TO
JPMorgan Nasdaq Equity Premium Income Active ETF0.35%136.22MSep 2024ZPH.TO vs JEPQ.TO

Best Risk-Adjusted Alternatives to ZPH.TO

ZPH.TO has a PortfoliosLab risk / return rank of 26. There are 62 ETFs in the Derivative Income category with higher risk-adjusted ranks, going as high as 98.

SymbolNameRisk / Return RankAUMInception
HLIF.TO
Harvest Canadian Equity Income Leaders ETF Class A
98
—Jun 2022ZPH.TO vs HLIF.TO
CBNK.TO
Mulvihill Canadian Bank Enhanced Yield ETF
98
—Feb 2022ZPH.TO vs CBNK.TO
BANK.TO
Evolve Canadian Banks and Lifecos Enhanced Yield I...
97
1.20BFeb 2022ZPH.TO vs BANK.TO
ZWB.TO
BMO Covered Call Canadian Banks ETF
97
4.68BJan 2011ZPH.TO vs ZWB.TO
BKCL.TO
Global X Enhanced Equal Weight Canadian Banks Cove...
97
200.19MJul 2023ZPH.TO vs BKCL.TO

Top Performing ZPH.TO Alternatives (YTD)

ZPH.TO is at -0.15% YTD. There are 74 ETFs in the Derivative Income category with higher YTD returns, going as high as 42.99%.

SymbolNameYTD ReturnAUMInception
CBNK.TO
Mulvihill Canadian Bank Enhanced Yield ETF
42.99%
—Feb 2022ZPH.TO vs CBNK.TO
QDAY.NEO
Hamilton EnhancedTechnology DayMAX™ ETF
32.71%
—Jul 2025ZPH.TO vs QDAY.NEO
TXF.TO
CI Tech Giants Covered Call Common
29.94%
802.07MOct 2011ZPH.TO vs TXF.TO
EMCL.NEO
Global X Enhanced MSCI Emerging Markets Covered Ca...
29.58%
7.25MMay 2024ZPH.TO vs EMCL.NEO
BANK.TO
Evolve Canadian Banks and Lifecos Enhanced Yield I...
29.36%
1.20BFeb 2022ZPH.TO vs BANK.TO

Lowest Volatility Alternatives to ZPH.TO

ZPH.TO has 6.42% 1-year volatility. There are 2 ETFs in the Derivative Income category with lower 1-year volatility, going as low as 1.63%.

SymbolNameVolatility 1YAUMInception
HBIL.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedg...1.63%227.40MSep 2024ZPH.TO vs HBIL.TO
HPYM.TO
Harvest Premium Yield 7-10 Year Treasury ETF - Cla...4.67%230.93MJan 2024ZPH.TO vs HPYM.TO
UMAX.TO
Hamilton Utilities YIELD MAXIMIZER ETF7.01%1.40BJun 2023ZPH.TO vs UMAX.TO
HLIF.TO
Harvest Canadian Equity Income Leaders ETF Class A7.02%—Jun 2022ZPH.TO vs HLIF.TO
ZPW.TO
BMO US Put Write ETF7.22%—Sep 2015ZPH.TO vs ZPW.TO

Lowest Drawdown Alternatives to ZPH.TO

ZPH.TO has a 1-year max drawdown of -6.07%. There are 12 ETFs in the Derivative Income category with shallower 1-year drawdowns, going as shallow as -0.95%.

SymbolNameMax Drawdown 1YAUMInception
HBIL.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedg...
-0.95%
227.40MSep 2024ZPH.TO vs HBIL.TO
HLIF.TO
Harvest Canadian Equity Income Leaders ETF Class A
-3.09%
—Jun 2022ZPH.TO vs HLIF.TO
HPYM.TO
Harvest Premium Yield 7-10 Year Treasury ETF - Cla...
-3.87%
230.93MJan 2024ZPH.TO vs HPYM.TO
ZWU.TO
BMO Covered Call Utilities ETF
-4.86%
2.25BOct 2011ZPH.TO vs ZWU.TO
UMAX.TO
Hamilton Utilities YIELD MAXIMIZER ETF
-5.11%
1.40BJun 2023ZPH.TO vs UMAX.TO

Other ETFs from BMO

The 10 most viewed BMO ETFs shown here include ZMMK.TO, ZSP.TO, ZEQT.TO and span 8 categories. AUM among these funds goes as high as $24B.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
ZMMK.TO
BMO Money Market Fund ETF SeriesMoney Market
99
1.17%
5.76BNov 2021ZPH.TO vs ZMMK.TO
ZSP.TO
BMO S&P 500 Index ETFS&P 500
79
13.62%
23.98BNov 2012ZPH.TO vs ZSP.TO
ZEQT.TO
BMO All-Equity ETFGlobal Equities
83
14.64%
852.71MJan 2022ZPH.TO vs ZEQT.TO
ZEB.TO
BMO Equal Weight Banks Index ETFFinancials Equities, Equal Weight
98
32.05%
6.36BOct 2009ZPH.TO vs ZEB.TO
ZCN.TO
BMO S&P/TSX Capped Composite Index ETFCanada Equities
86
11.09%
17.03BMay 2009ZPH.TO vs ZCN.TO
ZQQ.TO
BMO NASDAQ 100 Equity (CAD Hedged)Nasdaq-100
43
18.49%
3.09BJan 2010ZPH.TO vs ZQQ.TO
ZNQ.TO
BMO NASDAQ 100 Equity Index ETFNasdaq-100
76
23.99%
2.30BFeb 2019ZPH.TO vs ZNQ.TO
ZLB.TO
BMO Low Volatility Canadian Equity ETFCanada Equities
48
7.13%
6.32BOct 2011ZPH.TO vs ZLB.TO
ZAG.TO
BMO Aggregate Bond Index ETFCanadian Government Bonds
22
2.13%
13.01BJan 2010ZPH.TO vs ZAG.TO
ZDV.TO
BMO Canadian Dividend ETFCanada Equities
97
19.50%
1.83BOct 2011ZPH.TO vs ZDV.TO

Compare ZPH.TO with Any Fund or Stock

Compare ZPH.TO with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

 

Diversifiers

Pair ZPH.TO with funds that move differently

BMO US Put Write Hedged to CAD ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to ZPH.TO.

Explore ZPH.TO Diversifiers