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CANY.TO vs. ZWU.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

CANY.TO vs. ZWU.TO

Last updated Apr 2, 2026

Compare and contrast key facts about Evolve Canadian Equity UltraYield ETF (CANY.TO) and BMO Covered Call Utilities ETF (ZWU.TO).

CANY.TO and ZWU.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CANY.TO is an actively managed fund by Evolve. It was launched on Sep 17, 2025. ZWU.TO is an actively managed fund by BMO. It was launched on Oct 20, 2011.

Performance

CANY.TO vs. ZWU.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Evolve Canadian Equity UltraYield ETF (CANY.TO) and BMO Covered Call Utilities ETF (ZWU.TO). The values are adjusted to include any dividend payments, if applicable.

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CANY.TO vs. ZWU.TO - Yearly Performance Comparison

2026 (YTD)2025
CANY.TO
Evolve Canadian Equity UltraYield ETF		1.68%5.75%
ZWU.TO
BMO Covered Call Utilities ETF		11.36%1.05%

Returns By Period

In the year-to-date period, CANY.TO achieves a 1.68% return, which is significantly lower than ZWU.TO's 11.36% return.

CANY.TO

1D
-0.04%
1M
-3.87%
YTD
1.68%
6M
6.57%
1Y
—
3Y*
—
5Y*
—
10Y*
—

ZWU.TO

1D
-0.33%
1M
0.08%
YTD
11.36%
6M
9.50%
1Y
16.65%
3Y*
10.49%
5Y*
7.10%
10Y*
6.47%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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

Evolve Canadian Equity UltraYield ETF

BMO Covered Call Utilities ETF

Often compared with CANY.TO:
CANY.TO vs. CDAY.NEOCANY.TO vs. BIGYCANY.TO vs. HHIS.TOCANY.TO vs. VOOCANY.TO vs. HDIV.TOCANY.TO vs. HYLD.TOCANY.TO vs. BIGY.TO
Often compared with ZWU.TO:
ZWU.TO vs. ZUT.TOZWU.TO vs. UMAX.TOZWU.TO vs. UTES.TOZWU.TO vs. ZWC.TOZWU.TO vs. PAYF.TOZWU.TO vs. SYLD.TOZWU.TO vs. VDY.TO

CANY.TO vs. ZWU.TO - Expense Ratio Comparison

CANY.TO has a 0.40% expense ratio, which is lower than ZWU.TO's 0.65% expense ratio.

ZWU.TO
BMO Covered Call Utilities ETF
CANY.TO
Evolve Canadian Equity UltraYield ETF

Return for Risk

CANY.TO vs. ZWU.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CANY.TO
ZWU.TO
ZWU.TO Risk / Return Rank: 8484
Overall Rank
ZWU.TO Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
ZWU.TO Sortino Ratio Rank: 8686
Sortino Ratio Rank
ZWU.TO Omega Ratio Rank: 8686
Omega Ratio Rank
ZWU.TO Calmar Ratio Rank: 8383
Calmar Ratio Rank
ZWU.TO Martin Ratio Rank: 8080
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.

CANY.TO vs. ZWU.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Evolve Canadian Equity UltraYield ETF (CANY.TO) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

CANY.TO vs. ZWU.TO - Sharpe Ratio Comparison

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Sharpe Ratios by Period

CANY.TOZWU.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

—

1.84

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.69

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.46

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.82

0.43

+0.39

Correlation

The correlation between CANY.TO and ZWU.TO is -0.05. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

CANY.TO vs. ZWU.TO - Dividend Comparison

CANY.TO's dividend yield for the trailing twelve months is around 11.28%, more than ZWU.TO's 6.94% yield.

TTM20252024202320222021202020192018201720162015
CANY.TO
Evolve Canadian Equity UltraYield ETF		11.28%5.87%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
ZWU.TO
BMO Covered Call Utilities ETF		6.94%7.59%7.96%8.54%8.35%7.43%7.94%6.29%6.84%6.46%6.77%7.57%

Drawdowns

CANY.TO vs. ZWU.TO - Drawdown Comparison

The maximum CANY.TO drawdown since its inception was -8.34%, smaller than the maximum ZWU.TO drawdown of -37.41%. Use the drawdown chart below to compare losses from any high point for CANY.TO and ZWU.TO.

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Drawdown Indicators

CANY.TOZWU.TODifference

Max Drawdown

Largest peak-to-trough decline

-8.34%

-37.41%

+29.07%

Max Drawdown (1Y)

Largest decline over 1 year

—

-6.71%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-23.36%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-37.41%

—

Current Drawdown

Current decline from peak

-3.87%

-0.65%

-3.22%

Average Drawdown

Average peak-to-trough decline

-2.49%

-5.42%

+2.93%

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

1.80%

—

Volatility

CANY.TO vs. ZWU.TO - Volatility Comparison

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Volatility by Period

CANY.TOZWU.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

—

2.44%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

5.27%

—

Volatility (1Y)

Calculated over the trailing 1-year period

17.96%

9.11%

+8.85%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.96%

10.34%

+7.62%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.96%

14.15%

+3.81%