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HCON.TO vs. ZWQT.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HCON.TO vs. ZWQT.TO

Last updated Jun 4, 2026

HCON.TO (Global X Conservative Asset Allocation ETF) and ZWQT.TO (BMO Global Enhanced Income Fund Series ETF) are both Global Allocation funds. Both are actively managed. Over the past year, HCON.TO returned 13.34% vs 30.83% for ZWQT.TO. At a 0.38 correlation, their price movements are largely independent. HCON.TO charges 0.22%/yr vs 0.87%/yr for ZWQT.TO.

Performance

HCON.TO vs. ZWQT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Conservative Asset Allocation ETF (HCON.TO) and BMO Global Enhanced Income Fund Series ETF (ZWQT.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, HCON.TO achieves a 5.14% return, which is significantly lower than ZWQT.TO's 13.46% return.

HCON.TO

1D
0.26%
1M
3.66%
YTD
5.14%
6M
4.96%
1Y
13.34%
3Y*
10.89%
5Y*
5.15%
10Y*
—

ZWQT.TO

1D
-0.20%
1M
6.80%
YTD
13.46%
6M
14.11%
1Y
30.83%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

HCON.TO vs. ZWQT.TO - Yearly Performance Comparison

2026 (YTD)202520242023
HCON.TO
Global X Conservative Asset Allocation ETF		5.14%10.11%12.67%4.46%
ZWQT.TO
BMO Global Enhanced Income Fund Series ETF		13.46%14.08%17.82%8.19%

Correlation

The correlation between HCON.TO and ZWQT.TO is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.45

Correlation (All Time)
Calculated using the full available price history since Jun 26, 2023

0.38

Compare stocks, funds, or ETFs

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

Global X Conservative Asset Allocation ETF

BMO Global Enhanced Income Fund Series ETF

Often compared with HCON.TO:
HCON.TO vs. HBNK.TOHCON.TO vs. QQCC.TOHCON.TO vs. CBIL.TOHCON.TO vs. HXS.TOHCON.TO vs. FCGI.TOHCON.TO vs. HSAV.TOHCON.TO vs. TBAL.TO
Often compared with ZWQT.TO:
ZWQT.TO vs. BMAX.TOZWQT.TO vs. ZEQT.TOZWQT.TO vs. XTR.TOZWQT.TO vs. VRIF.TOZWQT.TO vs. ZBAL.TOZWQT.TO vs. ZLB.TOZWQT.TO vs. ZSP.TO

Return for Risk

HCON.TO vs. ZWQT.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HCON.TO
HCON.TO Risk / Return Rank: 6262
Overall Rank
HCON.TO Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
HCON.TO Sortino Ratio Rank: 6363
Sortino Ratio Rank
HCON.TO Omega Ratio Rank: 6969
Omega Ratio Rank
HCON.TO Calmar Ratio Rank: 5858
Calmar Ratio Rank
HCON.TO Martin Ratio Rank: 6262
Martin Ratio Rank
ZWQT.TO
ZWQT.TO Risk / Return Rank: 9292
Overall Rank
ZWQT.TO Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
ZWQT.TO Sortino Ratio Rank: 9393
Sortino Ratio Rank
ZWQT.TO Omega Ratio Rank: 9393
Omega Ratio Rank
ZWQT.TO Calmar Ratio Rank: 9090
Calmar Ratio Rank
ZWQT.TO Martin Ratio Rank: 9393
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.

HCON.TO vs. ZWQT.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Conservative Asset Allocation ETF (HCON.TO) and BMO Global Enhanced Income Fund Series ETF (ZWQT.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.

HCON.TOZWQT.TODifference
Sharpe ratioReturn per unit of total volatility
2.00
3.30

-1.30

Sortino ratioReturn per unit of downside risk
2.87
4.66

-1.79

Omega ratioGain probability vs. loss probability

1.41

1.65

-0.24

Calmar ratioReturn relative to maximum drawdown

2.84

5.66

-2.82

Martin ratioReturn relative to average drawdown

10.89

23.85

-12.96

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

HCON.TO vs. ZWQT.TO - Sharpe Ratio Comparison

The current HCON.TO Sharpe Ratio is 2.00, which is lower than the ZWQT.TO Sharpe Ratio of 3.30. The chart below compares the historical Sharpe Ratios of HCON.TO and ZWQT.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

HCON.TOZWQT.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.00

3.30

-1.30

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.59

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.60

1.71

-1.11

Drawdowns

HCON.TO vs. ZWQT.TO - Drawdown Comparison

The maximum HCON.TO drawdown since its inception was -22.98%, which is greater than ZWQT.TO's maximum drawdown of -14.93%. Use the drawdown chart below to compare losses from any high point for HCON.TO and ZWQT.TO.

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Drawdown Indicators

HCON.TOZWQT.TODifference

Max Drawdown

Largest peak-to-trough decline

-22.98%

-14.93%

-8.05%

Max Drawdown (1Y)

Largest decline over 1 year

-4.71%

-5.47%

+0.76%

Max Drawdown (3Y)

Largest decline over 3 years

-6.10%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-20.12%

—

—

Current Drawdown

Current decline from peak

0.00%

-0.20%

+0.20%

Average Drawdown

Average peak-to-trough decline

-4.32%

-1.47%

-2.85%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.23%

1.30%

-0.07%

Volatility

HCON.TO vs. ZWQT.TO - Volatility Comparison

The current volatility for Global X Conservative Asset Allocation ETF (HCON.TO) is 2.04%, while BMO Global Enhanced Income Fund Series ETF (ZWQT.TO) has a volatility of 3.22%. This indicates that HCON.TO experiences smaller price fluctuations and is considered to be less risky than ZWQT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HCON.TOZWQT.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.04%

3.22%

-1.18%

Volatility (6M)

Calculated over the trailing 6-month period

5.36%

7.02%

-1.66%

Volatility (1Y)

Calculated over the trailing 1-year period

6.69%

9.40%

-2.71%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

8.71%

10.92%

-2.21%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.62%

10.92%

+0.70%

HCON.TO vs. ZWQT.TO - Expense Ratio Comparison

HCON.TO has a 0.22% expense ratio, which is lower than ZWQT.TO's 0.87% expense ratio.

Dividends

HCON.TO vs. ZWQT.TO - Dividend Comparison

HCON.TO's dividend yield for the trailing twelve months is around 2.73%, less than ZWQT.TO's 4.99% yield.

PositionTTM2025202420232022202120202019
HCON.TO
Global X Conservative Asset Allocation ETF		2.73%2.83%2.60%1.19%0.02%0.09%0.79%0.04%
ZWQT.TO
BMO Global Enhanced Income Fund Series ETF		4.99%5.54%5.96%3.30%0.00%0.00%0.00%0.00%

Frequently Asked Questions

HCON.TO and ZWQT.TO have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, HCON.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.

HCON.TO is cheaper with a 0.22% expense ratio, compared with 0.87% for ZWQT.TO.

They also come from different issuers: Global X and BMO. Their fees differ too: 0.22% for HCON.TO and 0.87% for ZWQT.TO.

Portfolio Optimizer

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