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CIAI.TO vs. ZWT.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CIAI.TO vs. ZWT.TO

Last updated Jun 4, 2026

CIAI.TO (CI Global Artificial Intelligence ETF) and ZWT.TO (BMO Covered Call Technology ETF) are both Technology Equities funds. Both are actively managed. Over the past year, CIAI.TO returned 63.98% vs 47.17% for ZWT.TO. Their correlation of 0.91 suggests significant overlap in exposure. CIAI.TO charges 0.50%/yr vs 0.71%/yr for ZWT.TO.

Performance

CIAI.TO vs. ZWT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI Global Artificial Intelligence ETF (CIAI.TO) and BMO Covered Call Technology ETF (ZWT.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, CIAI.TO achieves a 31.59% return, which is significantly higher than ZWT.TO's 20.37% return.

CIAI.TO

1D
-0.87%
1M
16.11%
YTD
31.59%
6M
26.69%
1Y
63.98%
3Y*
—
5Y*
—
10Y*
—

ZWT.TO

1D
-0.06%
1M
12.28%
YTD
20.37%
6M
17.59%
1Y
47.17%
3Y*
36.02%
5Y*
23.64%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

CIAI.TO vs. ZWT.TO - Yearly Performance Comparison

2026 (YTD)20252024
CIAI.TO
CI Global Artificial Intelligence ETF		31.59%18.84%29.92%
ZWT.TO
BMO Covered Call Technology ETF		20.37%18.15%24.65%

Correlation

The correlation between CIAI.TO and ZWT.TO is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.90

Correlation (All Time)
Calculated using the full available price history since May 8, 2024

0.91

The correlation between CIAI.TO and ZWT.TO has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.

Compare stocks, funds, or ETFs

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

CI Global Artificial Intelligence ETF

BMO Covered Call Technology ETF

Often compared with CIAI.TO:
CIAI.TO vs. AIGO.TOCIAI.TO vs. CHPS.TOCIAI.TO vs. TEC.TOCIAI.TO vs. CHPS-U.TOCIAI.TO vs. AIQCIAI.TO vs. INAI.TOCIAI.TO vs. MTRX.TO
Often compared with ZWT.TO:
ZWT.TO vs. QQQZWT.TO vs. TEC.TOZWT.TO vs. ZWB.TOZWT.TO vs. HHIS.TOZWT.TO vs. ZSP.TOZWT.TO vs. ZXLK.TOZWT.TO vs. VDY.TO

Return for Risk

CIAI.TO vs. ZWT.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CIAI.TO
CIAI.TO Risk / Return Rank: 6969
Overall Rank
CIAI.TO Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
CIAI.TO Sortino Ratio Rank: 7070
Sortino Ratio Rank
CIAI.TO Omega Ratio Rank: 7171
Omega Ratio Rank
CIAI.TO Calmar Ratio Rank: 6868
Calmar Ratio Rank
CIAI.TO Martin Ratio Rank: 5656
Martin Ratio Rank
ZWT.TO
ZWT.TO Risk / Return Rank: 6868
Overall Rank
ZWT.TO Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
ZWT.TO Sortino Ratio Rank: 7373
Sortino Ratio Rank
ZWT.TO Omega Ratio Rank: 7474
Omega Ratio Rank
ZWT.TO Calmar Ratio Rank: 6060
Calmar Ratio Rank
ZWT.TO Martin Ratio Rank: 5555
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.

CIAI.TO vs. ZWT.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CI Global Artificial Intelligence ETF (CIAI.TO) and BMO Covered Call Technology ETF (ZWT.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.

CIAI.TOZWT.TODifference
Sharpe ratioReturn per unit of total volatility
2.69
2.66

+0.03

Sortino ratioReturn per unit of downside risk
3.23
3.34

-0.11

Omega ratioGain probability vs. loss probability

1.43

1.45

-0.02

Calmar ratioReturn relative to maximum drawdown

3.40

2.98

+0.42

Martin ratioReturn relative to average drawdown

9.79

9.56

+0.23

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

CIAI.TO vs. ZWT.TO - Sharpe Ratio Comparison

The current CIAI.TO Sharpe Ratio is 2.69, which is comparable to the ZWT.TO Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of CIAI.TO and ZWT.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

CIAI.TOZWT.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.69

2.66

+0.03

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

1.02

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.44

0.99

+0.46

Drawdowns

CIAI.TO vs. ZWT.TO - Drawdown Comparison

The maximum CIAI.TO drawdown since its inception was -31.22%, smaller than the maximum ZWT.TO drawdown of -35.84%. Use the drawdown chart below to compare losses from any high point for CIAI.TO and ZWT.TO.

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Drawdown Indicators

CIAI.TOZWT.TODifference

Max Drawdown

Largest peak-to-trough decline

-31.22%

-35.84%

+4.62%

Max Drawdown (1Y)

Largest decline over 1 year

-18.93%

-15.93%

-3.00%

Max Drawdown (3Y)

Largest decline over 3 years

—

-26.27%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-35.84%

—

Current Drawdown

Current decline from peak

-0.87%

-0.06%

-0.81%

Average Drawdown

Average peak-to-trough decline

-6.50%

-8.84%

+2.34%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.55%

4.95%

+1.60%

Volatility

CIAI.TO vs. ZWT.TO - Volatility Comparison

CI Global Artificial Intelligence ETF (CIAI.TO) has a higher volatility of 7.14% compared to BMO Covered Call Technology ETF (ZWT.TO) at 4.19%. This indicates that CIAI.TO's price experiences larger fluctuations and is considered to be riskier than ZWT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CIAI.TOZWT.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

7.14%

4.19%

+2.95%

Volatility (6M)

Calculated over the trailing 6-month period

18.43%

13.67%

+4.76%

Volatility (1Y)

Calculated over the trailing 1-year period

23.90%

17.81%

+6.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

28.40%

23.23%

+5.17%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

28.40%

22.98%

+5.42%

CIAI.TO vs. ZWT.TO - Expense Ratio Comparison

CIAI.TO has a 0.50% expense ratio, which is lower than ZWT.TO's 0.71% expense ratio.

Dividends

CIAI.TO vs. ZWT.TO - Dividend Comparison

CIAI.TO has not paid dividends to shareholders, while ZWT.TO's dividend yield for the trailing twelve months is around 4.22%.

PositionTTM20252024202320222021
CIAI.TO
CI Global Artificial Intelligence ETF		0.00%0.00%0.00%0.00%0.00%0.00%
ZWT.TO
BMO Covered Call Technology ETF		4.22%4.46%3.34%3.83%6.54%4.00%

Frequently Asked Questions

CIAI.TO and ZWT.TO have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, CIAI.TO is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

CIAI.TO is cheaper with a 0.50% expense ratio, compared with 0.71% for ZWT.TO.

They also come from different issuers: CI Investments and BMO. Their fees differ too: 0.50% for CIAI.TO and 0.71% for ZWT.TO.

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