3199.HK vs. ZWU.TO
3199.HK (ICBC CSOP FTSE Chinese Government and Policy Bank Bond Index ETF) and ZWU.TO (BMO Covered Call Utilities ETF) are both exchange-traded funds - 3199.HK is a Emerging Markets Bonds fund tracking the FTSE Chinese Government and Policy Bank Bond, while ZWU.TO is a Utilities Equities fund actively managed by BMO. 3199.HK is passively managed, while ZWU.TO is actively managed. Over the past 10 years, 3199.HK returned 2.92%/yr vs 5.29%/yr for ZWU.TO. At a 0.08 correlation, their price movements are largely independent. 3199.HK charges 0.62%/yr vs 0.65%/yr for ZWU.TO.
Performance
3199.HK vs. ZWU.TO - Performance Comparison
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Different Trading Currencies
3199.HK is traded in HKD, while ZWU.TO is traded in CAD. To make them comparable, the ZWU.TO values have been converted to HKD using the latest available exchange rates.
Returns By Period
In the year-to-date period, 3199.HK achieves a 5.99% return, which is significantly lower than ZWU.TO's 9.72% return. Over the past 10 years, 3199.HK has underperformed ZWU.TO with an annualized return of 2.92%, while ZWU.TO has yielded a comparatively higher 5.29% annualized return.
3199.HK
- 1D
- -0.17%
- 1M
- 1.09%
- YTD
- 5.99%
- 6M
- 6.91%
- 1Y
- 7.82%
- 3Y*
- 5.62%
- 5Y*
- 2.88%
- 10Y*
- 2.92%
ZWU.TO
- 1D
- 0.12%
- 1M
- -2.53%
- YTD
- 9.72%
- 6M
- 11.00%
- 1Y
- 14.15%
- 3Y*
- 9.59%
- 5Y*
- 3.64%
- 10Y*
- 5.29%
3199.HK vs. ZWU.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
3199.HK ICBC CSOP FTSE Chinese Government and Policy Bank Bond Index ETF | 5.99% | 5.50% | 3.24% | 2.30% | -6.26% | 7.36% | 10.59% | 0.61% | 0.60% | 6.18% |
ZWU.TO BMO Covered Call Utilities ETF | 9.72% | 18.83% | 1.68% | -0.59% | -10.17% | 17.29% | -5.66% | 28.96% | -12.86% | 13.79% |
Correlation
The correlation between 3199.HK and ZWU.TO is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2014 | 0.08 |
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Return for Risk
3199.HK vs. ZWU.TO — Risk / Return Rank
3199.HK
ZWU.TO
3199.HK vs. ZWU.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ICBC CSOP FTSE Chinese Government and Policy Bank Bond Index ETF (3199.HK) and BMO Covered Call Utilities ETF (ZWU.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.
| 3199.HK | ZWU.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.28 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 5.39 | 3.24 | +2.16 |
| Martin ratioReturn relative to average drawdown | 13.10 | 9.17 | +3.93 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| 3199.HK | ZWU.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.71 | 1.58 | +0.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.57 | 0.26 | +0.31 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.60 | 0.31 | +0.29 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.19 | +0.38 |
Drawdowns
3199.HK vs. ZWU.TO - Drawdown Comparison
The maximum 3199.HK drawdown since its inception was -11.05%, smaller than the maximum ZWU.TO drawdown of -43.06%. Use the drawdown chart below to compare losses from any high point for 3199.HK and ZWU.TO.
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Drawdown Indicators
| 3199.HK | ZWU.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.05% | -43.06% | +32.01% |
Max Drawdown (1Y)Largest decline over 1 year | -1.60% | -4.39% | +2.79% |
Max Drawdown (3Y)Largest decline over 3 years | -3.84% | -15.30% | +11.46% |
Max Drawdown (5Y)Largest decline over 5 years | -11.05% | -30.18% | +19.13% |
Max Drawdown (10Y)Largest decline over 10 years | -11.05% | -43.06% | +32.01% |
Current DrawdownCurrent decline from peak | -0.41% | -2.98% | +2.57% |
Average DrawdownAverage peak-to-trough decline | -3.26% | -11.17% | +7.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.63% | 1.55% | -0.92% |
Volatility
3199.HK vs. ZWU.TO - Volatility Comparison
The current volatility for ICBC CSOP FTSE Chinese Government and Policy Bank Bond Index ETF (3199.HK) is 1.54%, while BMO Covered Call Utilities ETF (ZWU.TO) has a volatility of 3.03%. This indicates that 3199.HK experiences smaller price fluctuations and is considered to be less risky than ZWU.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 3199.HK | ZWU.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.54% | 3.03% | -1.49% |
Volatility (6M)Calculated over the trailing 6-month period | 3.83% | 7.03% | -3.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.06% | 9.01% | -3.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.74% | 14.00% | -8.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.71% | 17.42% | -11.71% |
3199.HK vs. ZWU.TO - Expense Ratio Comparison
3199.HK has a 0.62% expense ratio, which is lower than ZWU.TO's 0.65% expense ratio.
Dividends
3199.HK vs. ZWU.TO - Dividend Comparison
3199.HK's dividend yield for the trailing twelve months is around 3.31%, less than ZWU.TO's 7.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
3199.HK ICBC CSOP FTSE Chinese Government and Policy Bank Bond Index ETF | 3.31% | 3.34% | 3.43% | 3.51% | 3.65% | 3.40% | 3.29% | 3.57% | 3.62% | 3.39% | 3.56% | 3.69% |
ZWU.TO BMO Covered Call Utilities ETF | 7.08% | 7.59% | 7.96% | 8.54% | 8.35% | 7.43% | 7.94% | 6.29% | 6.84% | 6.46% | 6.77% | 7.57% |
Frequently Asked Questions
3199.HK and ZWU.TO have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, 3199.HK is cheaper at 0.62% per year. The better choice depends on whether you care most about return, fees, risk, or income.
3199.HK is cheaper with a 0.62% expense ratio, compared with 0.65% for ZWU.TO.
3199.HK is categorized as Emerging Markets Bonds, while ZWU.TO is Utilities Equities. They also come from different issuers: CSOP and BMO. Their fees differ too: 0.62% for 3199.HK and 0.65% for ZWU.TO.
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