ZWC.TO Alternatives & Similar ETFs

BMO CA High Dividend Covered Call ETF (ZWC.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 ZWC.TO. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to ZWC.TO

ZWC.TO charges 0.91% annually. There are 67 ETFs in the Derivative Income category with lower expense ratios, going as low as 0.04%.

Symbol	Name	Expense Ratio	AUM	Inception
USCL.TO	Global X Enhanced S&P 500 Covered Call ETF	0.04%	249.48M	Jul 2023	ZWC.TO vs USCL.TO
ECHI.TO	Ninepoint Enhanced Canadian HighShares ETF	0.29%	—	Aug 2025	ZWC.TO vs ECHI.TO
EQLI.TO	Invesco S&P 500 Equal Weight Income Advantage ETF	0.29%	155.19M	Nov 2025	ZWC.TO vs EQLI.TO
JEPQ.TO	JPMorgan Nasdaq Equity Premium Income Active ETF	0.35%	136.22M	Sep 2024	ZWC.TO vs JEPQ.TO
HBIL.TO	Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedg...	0.35%	235.30M	Sep 2024	ZWC.TO vs HBIL.TO

Best Risk-Adjusted Alternatives to ZWC.TO

ZWC.TO has a PortfoliosLab risk / return rank of 92. There are 10 ETFs in the Derivative Income category with higher risk-adjusted ranks, going as high as 98.

Symbol	Name	Risk / Return Rank	AUM	Inception
HLIF.TO	Harvest Canadian Equity Income Leaders ETF Class A	98	—	Jun 2022	ZWC.TO vs HLIF.TO
CBNK.TO	Mulvihill Canadian Bank Enhanced Yield ETF	96	—	Feb 2022	ZWC.TO vs CBNK.TO
BANK.TO	Evolve Canadian Banks and Lifecos Enhanced Yield I...	96	1.08B	Feb 2022	ZWC.TO vs BANK.TO
BKCL.TO	Global X Enhanced Equal Weight Canadian Banks Cove...	95	187.53M	Jul 2023	ZWC.TO vs BKCL.TO
BKCC.TO	Global X Equal Weight Canadian Bank Covered Call E...	94	370.01M	May 2011	ZWC.TO vs BKCC.TO

Top Performing ZWC.TO Alternatives (YTD)

ZWC.TO is at 11.12% YTD. There are 44 ETFs in the Derivative Income category with higher YTD returns, going as high as 59.96%.

Symbol	Name	YTD Return	AUM	Inception
YAVG.NEO	Broadcom (AVGO) Yield Shares Purpose ETF	59.96%	—	Feb 2025	ZWC.TO vs YAVG.NEO
AVGY.TO	Harvest Broadcom Enhanced High Income Shares ETF -...	42.92%	—	Mar 2025	ZWC.TO vs AVGY.TO
CNQE.TO	Harvest CNQ Enhanced High Income Shares ETF	39.35%	—	Aug 2025	ZWC.TO vs CNQE.TO
ENCL.TO	Global X Enhanced Canadian Oil and Gas Equity Cove...	36.58%	286.32M	Oct 2023	ZWC.TO vs ENCL.TO
NXF.TO	CI Energy Giants Covered Call ETF Common Units (CA...	32.43%	116.31M	Feb 2015	ZWC.TO vs NXF.TO

Lowest Volatility Alternatives to ZWC.TO

ZWC.TO has 7.80% 1-year volatility. There are 5 ETFs in the Derivative Income category with lower 1-year volatility, going as low as 1.66%.

Symbol	Name	Volatility 1Y	AUM	Inception
HBIL.TO	Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedg...	1.66%	235.30M	Sep 2024	ZWC.TO vs HBIL.TO
HPYM.TO	Harvest Premium Yield 7-10 Year Treasury ETF - Cla...	4.53%	226.83M	Jan 2024	ZWC.TO vs HPYM.TO
UMAX.TO	Hamilton Utilities YIELD MAXIMIZER ETF	6.65%	1.34B	Jun 2023	ZWC.TO vs UMAX.TO
HLIF.TO	Harvest Canadian Equity Income Leaders ETF Class A	6.85%	—	Jun 2022	ZWC.TO vs HLIF.TO
ZWU.TO	BMO Covered Call Utilities ETF	7.59%	2.17B	Oct 2011	ZWC.TO vs ZWU.TO

Lowest Drawdown Alternatives to ZWC.TO

ZWC.TO has a 1-year max drawdown of -5.99%. There are 11 ETFs in the Derivative Income category with shallower 1-year drawdowns, going as shallow as -0.95%.

Symbol	Name	Max Drawdown 1Y	AUM	Inception
HBIL.TO	Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedg...	-0.95%	235.30M	Sep 2024	ZWC.TO vs HBIL.TO
HLIF.TO	Harvest Canadian Equity Income Leaders ETF Class A	-3.09%	—	Jun 2022	ZWC.TO vs HLIF.TO
HPYM.TO	Harvest Premium Yield 7-10 Year Treasury ETF - Cla...	-3.85%	226.83M	Jan 2024	ZWC.TO vs HPYM.TO
HUTE.TO	Harvest Equal Weight Global Utilities Enhanced Inc...	-4.57%	97.17M	Oct 2022	ZWC.TO vs HUTE.TO
ZWU.TO	BMO Covered Call Utilities ETF	-4.86%	2.17B	Oct 2011	ZWC.TO vs ZWU.TO

Other ETFs from BMO

The 10 most viewed BMO ETFs shown here include ZMMK.TO, ZSP.TO, ZEQT.TO and span 7 categories. AUM among these funds goes as high as $24B.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
ZMMK.TO	BMO Money Market Fund ETF Series	Money Market	100	0.95%	5.70B	Nov 2021	ZWC.TO vs ZMMK.TO
ZSP.TO	BMO S&P 500 Index ETF	S&P 500	72	12.15%	23.82B	Nov 2012	ZWC.TO vs ZSP.TO
ZEQT.TO	BMO All-Equity ETF	Global Equities	75	13.04%	789.04M	Jan 2022	ZWC.TO vs ZEQT.TO
ZEB.TO	BMO Equal Weight Banks Index ETF	Financials Equities	96	19.22%	5.16B	Oct 2009	ZWC.TO vs ZEB.TO
ZCN.TO	BMO S&P/TSX Capped Composite Index ETF	Canada Equities	80	10.70%	16.67B	May 2009	ZWC.TO vs ZCN.TO
ZQQ.TO	BMO NASDAQ 100 Equity (CAD Hedged)	Nasdaq-100	67	19.82%	3.25B	Jan 2010	ZWC.TO vs ZQQ.TO
ZNQ.TO	BMO NASDAQ 100 Equity Index ETF	Nasdaq-100	74	22.76%	2.28B	Feb 2019	ZWC.TO vs ZNQ.TO
ZLB.TO	BMO Low Volatility Canadian Equity ETF	Canada Equities	54	3.14%	6.10B	Oct 2011	ZWC.TO vs ZLB.TO
ZAG.TO	BMO Aggregate Bond Index ETF	Canadian Government Bonds	21	1.70%	12.80B	Jan 2010	ZWC.TO vs ZAG.TO
ZDV.TO	BMO Canadian Dividend ETF	Canada Equities	85	18.56%	1.72B	Oct 2011	ZWC.TO vs ZDV.TO

Often Compared With ZWC.TO

Investors most often compare ZWC.TO with ZWB.TO, VDY.TO, HDIV.TO. These 20 comparison targets span 13 categories, based on PortfoliosLab usage data.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
ZWB.TO	BMO Covered Call Canadian Banks ETF	Financials Equities	95	16.23%	4.34B	Jan 2024	ZWC.TO vs ZWB.TO
VDY.TO	Vanguard FTSE Canadian High Dividend Yield Index E...	Dividend	98	20.59%	7.99B	Nov 2012	ZWC.TO vs VDY.TO
HDIV.TO	Hamilton Enhanced Multi-Sector Covered Call ETF	Derivative Income	92	16.21%	1.63B	Jul 2021	ZWC.TO vs HDIV.TO
XEI.TO	iShares S&P/TSX Composite High Dividend Index ETF	Canada Equities	98	22.21%	4.02B	Apr 2011	ZWC.TO vs XEI.TO
ZWH.TO	BMO US High Dividend Covered Call ETF	Derivative Income	85	13.86%	1.13B	Feb 2014	ZWC.TO vs ZWH.TO
HMAX.TO	Hamilton Canadian Financials YIELD MAXIMIZER ETF	Derivative Income	91	11.17%	2.34B	Jan 2023	ZWC.TO vs HMAX.TO
XIU.TO	iShares S&P/TSX 60 Index ETF	Large Cap Growth Equities	82	10.14%	22.52B	Sep 1999	ZWC.TO vs XIU.TO
CVD.TO	iShares Convertible Bond Index ETF	High Yield Bonds	33	3.23%	126.41M	Jun 2011	ZWC.TO vs CVD.TO
ZWE.TO	BMO Europe High Dividend Covered Call Hedged to CA...	Foreign Large Cap Equities	30	3.89%	762.24M	Sep 2015	ZWC.TO vs ZWE.TO
ZUT.TO	BMO Equal Weight Utilities Index ETF	Utilities Equities	65	20.31%	887.30M	Jan 2010	ZWC.TO vs ZUT.TO
ZDI.TO	BMO International Dividend ETF	International Equity	46	10.68%	847.71M	Nov 2014	ZWC.TO vs ZDI.TO
ZWG.TO	BMO Global High Dividend Covered Call ETF	Derivative Income	64	11.46%	337.99M	Jan 2020	ZWC.TO vs ZWG.TO
COW.TO	iShares Global Agriculture Index ETF	Large Cap Blend Equities	19	15.84%	313.46M	Dec 2007	ZWC.TO vs COW.TO
EIT-UN.TO	Canoe EIT Income Fund	Diversified Portfolio	—	27.79%	—	Aug 1997	ZWC.TO vs EIT-UN.TO
ZEM.TO	BMO MSCI Emerging Markets Index ETF	Emerging Markets Equities	85	29.19%	3.50B	Oct 2009	ZWC.TO vs ZEM.TO
ENB-PP.TO	Enbridge Inc.		96	10.18%	—	—	ZWC.TO vs ENB-PP.TO
PAYF.TO	Purpose Enhanced Premium Yield Fund		31	2.34%	81.20M	—	ZWC.TO vs PAYF.TO
XDIV.TO	iShares Core MSCI Canadian Quality Dividend Index ...	Dividend, Large Cap Value Equities	98	19.17%	5.25B	Jun 2017	ZWC.TO vs XDIV.TO
LIFE.TO	Evolve Global Healthcare Enhanced Yield Fund		10	-9.18%	316.98M	—	ZWC.TO vs LIFE.TO
SDAY.NEO	Hamilton Enhanced U.S. Equity DayMAX™ ETF	Derivative Income	—	9.14%	—	Jul 2025	ZWC.TO vs SDAY.NEO

Compare ZWC.TO with Any Fund or Stock

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

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Diversifiers

Pair ZWC.TO with funds that move differently

BMO CA High Dividend Covered Call ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to ZWC.TO.

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BMO CA High Dividend Covered Call ETF (ZWC.TO) Alternatives