MSFH.TO vs. ZWT.TO
MSFH.TO (Harvest Microsoft High Income Shares ETF Class A Units) and ZWT.TO (BMO Covered Call Technology ETF) are both Technology Equities funds. Both are actively managed. Over the past year, MSFH.TO returned -16.47% vs 30.88% for ZWT.TO. A 0.55 correlation means they provide meaningful diversification when combined.
Performance
MSFH.TO vs. ZWT.TO - Performance Comparison
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Returns By Period
In the year-to-date period, MSFH.TO achieves a -14.71% return, which is significantly lower than ZWT.TO's 16.20% return.
MSFH.TO
- 1D
- 2.09%
- 1M
- -0.58%
- 6M
- -11.58%
- YTD
- -14.71%
- 1Y
- -16.47%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZWT.TO
- 1D
- -0.80%
- 1M
- -1.69%
- 6M
- 14.81%
- YTD
- 16.20%
- 1Y
- 30.88%
- 3Y*
- 32.15%
- 5Y*
- 20.18%
- 10Y*
- —
MSFH.TO vs. ZWT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MSFH.TO Harvest Microsoft High Income Shares ETF Class A Units | -14.71% | 6.58% | 5.90% |
ZWT.TO BMO Covered Call Technology ETF | 16.20% | 18.15% | 15.37% |
Correlation
The correlation between MSFH.TO and ZWT.TO is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Aug 21, 2024 | 0.55 |
The correlation between MSFH.TO and ZWT.TO shifts across timeframes, from 0.40 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MSFH.TO vs. ZWT.TO — Risk / Return Rank
MSFH.TO
ZWT.TO
MSFH.TO vs. ZWT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harvest Microsoft High Income Shares ETF Class A Units (MSFH.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.
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.
| MSFH.TO | ZWT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.22 | ||
| Sortino ratioReturn per unit of downside risk | -2.85 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.26 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.54 | 1.95 | -2.48 |
| Martin ratioReturn relative to average drawdown | -0.97 | 6.04 | -7.01 |
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Drawdowns
MSFH.TO vs. ZWT.TO - Drawdown Comparison
The maximum MSFH.TO drawdown since its inception was -31.00%, smaller than the maximum ZWT.TO drawdown of -35.84%. Use the drawdown chart below to compare losses from any high point for MSFH.TO and ZWT.TO.
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Drawdown Indicators
| MSFH.TO | ZWT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.00% | -35.84% | +4.84% |
Max Drawdown (1Y)Largest decline over 1 year | -31.00% | -15.93% | -15.07% |
Max Drawdown (3Y)Largest decline over 3 years | — | -26.27% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -35.84% | — |
Current DrawdownCurrent decline from peak | -23.17% | -3.51% | -19.66% |
Average DrawdownAverage peak-to-trough decline | -9.87% | -8.72% | -1.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.11% | 5.12% | +11.99% |
Volatility
MSFH.TO vs. ZWT.TO - Volatility Comparison
Harvest Microsoft High Income Shares ETF Class A Units (MSFH.TO) has a higher volatility of 10.91% compared to BMO Covered Call Technology ETF (ZWT.TO) at 7.69%. This indicates that MSFH.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
| MSFH.TO | ZWT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.91% | 7.69% | +3.22% |
Volatility (6M)Calculated over the trailing 6-month period | 21.78% | 16.48% | +5.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.35% | 20.25% | +4.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.48% | 23.64% | -0.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.48% | 23.16% | +0.32% |
Dividends
MSFH.TO vs. ZWT.TO - Dividend Comparison
MSFH.TO's dividend yield for the trailing twelve months is around 19.13%, more than ZWT.TO's 4.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
MSFH.TO Harvest Microsoft High Income Shares ETF Class A Units | 19.13% | 14.88% | 4.59% | 0.00% | 0.00% | 0.00% |
ZWT.TO BMO Covered Call Technology ETF | 4.59% | 4.46% | 3.34% | 3.83% | 6.54% | 4.00% |
Frequently Asked Questions
MSFH.TO and ZWT.TO have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Harvest and BMO.
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