CWIN.TO vs. ZUD.TO
CWIN.TO (HAMILTON CHAMPIONS Enhanced Canadian Dividend ETF Class E Units) and ZUD.TO (BMO US Dividend Hedged to CAD ETF) are both Dividend funds. Over the past year, CWIN.TO returned 39.32% vs 21.18% for ZUD.TO. At a 0.42 correlation, their price movements are largely independent. CWIN.TO charges 0.65%/yr vs 0.30%/yr for ZUD.TO.
Performance
CWIN.TO vs. ZUD.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CWIN.TO achieves a 21.63% return, which is significantly higher than ZUD.TO's 14.83% return.
CWIN.TO
- 1D
- -0.04%
- 1M
- 2.83%
- 6M
- 19.10%
- YTD
- 21.63%
- 1Y
- 39.32%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZUD.TO
- 1D
- -0.13%
- 1M
- 0.08%
- 6M
- 12.59%
- YTD
- 14.83%
- 1Y
- 21.18%
- 3Y*
- 15.62%
- 5Y*
- 9.94%
- 10Y*
- 8.96%
CWIN.TO vs. ZUD.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CWIN.TO HAMILTON CHAMPIONS Enhanced Canadian Dividend ETF Class E Units | 21.63% | 24.29% |
ZUD.TO BMO US Dividend Hedged to CAD ETF | 14.83% | 8.23% |
Correlation
The correlation between CWIN.TO and ZUD.TO is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Jan 28, 2025 | 0.42 |
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Return for Risk
CWIN.TO vs. ZUD.TO — Risk / Return Rank
CWIN.TO
ZUD.TO
CWIN.TO vs. ZUD.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HAMILTON CHAMPIONS Enhanced Canadian Dividend ETF Class E Units (CWIN.TO) and BMO US Dividend Hedged to CAD ETF (ZUD.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CWIN.TO | ZUD.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.23 | ||
| Sortino ratioReturn per unit of downside risk | +1.46 | ||
| Omega ratioGain probability vs. loss probability | 1.60 | 1.35 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 5.52 | 3.75 | +1.77 |
| Martin ratioReturn relative to average drawdown | 20.43 | 13.06 | +7.37 |
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Drawdowns
CWIN.TO vs. ZUD.TO - Drawdown Comparison
The maximum CWIN.TO drawdown since its inception was -10.87%, smaller than the maximum ZUD.TO drawdown of -40.60%. Use the drawdown chart below to compare losses from any high point for CWIN.TO and ZUD.TO.
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Drawdown Indicators
| CWIN.TO | ZUD.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.87% | -40.60% | +29.73% |
Max Drawdown (1Y)Largest decline over 1 year | -7.15% | -5.67% | -1.48% |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.94% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.65% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.60% | — |
Current DrawdownCurrent decline from peak | -0.13% | -0.77% | +0.64% |
Average DrawdownAverage peak-to-trough decline | -1.35% | -4.07% | +2.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.93% | 1.63% | +0.30% |
Volatility
CWIN.TO vs. ZUD.TO - Volatility Comparison
HAMILTON CHAMPIONS Enhanced Canadian Dividend ETF Class E Units (CWIN.TO) has a higher volatility of 3.60% compared to BMO US Dividend Hedged to CAD ETF (ZUD.TO) at 2.72%. This indicates that CWIN.TO's price experiences larger fluctuations and is considered to be riskier than ZUD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CWIN.TO | ZUD.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.60% | 2.72% | +0.88% |
Volatility (6M)Calculated over the trailing 6-month period | 9.81% | 7.81% | +2.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.51% | 11.05% | +1.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.77% | 15.19% | -1.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.77% | 16.98% | -3.21% |
CWIN.TO vs. ZUD.TO - Expense Ratio Comparison
CWIN.TO has a 0.65% expense ratio, which is higher than ZUD.TO's 0.30% expense ratio.
Dividends
CWIN.TO vs. ZUD.TO - Dividend Comparison
CWIN.TO's dividend yield for the trailing twelve months is around 3.09%, more than ZUD.TO's 1.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CWIN.TO HAMILTON CHAMPIONS Enhanced Canadian Dividend ETF Class E Units | 3.09% | 3.21% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZUD.TO BMO US Dividend Hedged to CAD ETF | 1.46% | 1.68% | 2.17% | 2.54% | 2.77% | 2.50% | 3.76% | 3.13% | 3.11% | 2.69% | 2.61% | 2.97% |
Frequently Asked Questions
CWIN.TO and ZUD.TO have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZUD.TO is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZUD.TO is cheaper with a 0.30% expense ratio, compared with 0.65% for CWIN.TO.
They also come from different issuers: Hamilton and BMO. Their fees differ too: 0.65% for CWIN.TO and 0.30% for ZUD.TO.
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