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PDV.TO vs. ZWE.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PDV.TO vs. ZWE.TO

Last updated Aug 1, 2026
Documentation

PDV.TO (Prime Dividend Corp.) is a stock, while ZWE.TO (BMO Europe High Dividend Covered Call Hedged to CAD ETF) is Europe Equities fund actively managed by BMO. Over the past 10 years, PDV.TO returned 7.21%/yr vs 8.56%/yr for ZWE.TO. Their 0.20 correlation means their historical movements had little consistent relationship.

Performance

PDV.TO vs. ZWE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Prime Dividend Corp. (PDV.TO) and BMO Europe High Dividend Covered Call Hedged to CAD ETF (ZWE.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, PDV.TO achieves a 44.74% return, which is significantly higher than ZWE.TO's 8.05% return. Over the past 10 years, PDV.TO has underperformed ZWE.TO with an annualized return of 7.21%, while ZWE.TO has yielded a comparatively higher 8.56% annualized return.

PDV.TO

1D
-0.39%
1M
6.78%
6M
45.83%
YTD
44.74%
1Y
113.70%
3Y*
25.01%
5Y*
11.85%
10Y*
7.21%
ALL TIME*
3.09%

ZWE.TO

1D
0.00%
1M
0.60%
6M
5.94%
YTD
8.05%
1Y
19.52%
3Y*
11.36%
5Y*
9.65%
10Y*
8.56%
ALL TIME*
8.01%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

PDV.TO

Prime Dividend Corp.
CA$28.43KCA$16.06KCA$15.17K

ZWE.TO

BMO Europe High Dividend Covered Call Hedged to CAD ETF
CA$450.07KCA$400.85KCA$441.13K

PDV.TO vs. ZWE.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PDV.TO
Prime Dividend Corp.		44.74%57.09%34.39%-45.45%-12.39%60.00%-14.93%28.23%-48.87%16.85%
ZWE.TO
BMO Europe High Dividend Covered Call Hedged to CAD ETF		8.05%14.25%7.16%14.84%0.29%19.26%-8.67%22.25%-10.53%11.33%

Correlation

The correlation between PDV.TO and ZWE.TO is 0.15, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.15

Correlation (3Y)
Balances recent behavior with more history.

0.19

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.14

Correlation (10Y)
Provides a long-term view across more market conditions.

0.19

Correlation (All Time)
Calculated using the full available price history since Sep 11, 2015

0.20

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Prime Dividend Corp.

BMO Europe High Dividend Covered Call Hedged to CAD ETF

Often compared with PDV.TO:
PDV.TO vs. DF.TOPDV.TO vs. LBS.TO
Often compared with ZWE.TO:
ZWE.TO vs. ZWC.TOZWE.TO vs. EBNK.TOZWE.TO vs. VIDY.TOZWE.TO vs. VE.TOZWE.TO vs. ZWB.TOZWE.TO vs. IDVZWE.TO vs. XEF.TO

Return for Risk

PDV.TO vs. ZWE.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
PDV.TO
PDV.TO Risk / Return Rank: 9999
Overall Rank
PDV.TO Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
PDV.TO Sortino Ratio Rank: 9999
Sortino Ratio Rank
PDV.TO Omega Ratio Rank: 9999
Omega Ratio Rank
PDV.TO Calmar Ratio Rank: 9999
Calmar Ratio Rank
PDV.TO Martin Ratio Rank: 100100
Martin Ratio Rank
ZWE.TO
ZWE.TO Risk / Return Rank: 6363
Overall Rank
ZWE.TO Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
ZWE.TO Sortino Ratio Rank: 6969
Sortino Ratio Rank
ZWE.TO Omega Ratio Rank: 6969
Omega Ratio Rank
ZWE.TO Calmar Ratio Rank: 5252
Calmar Ratio Rank
ZWE.TO Martin Ratio Rank: 5858
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PDV.TO vs. ZWE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Prime Dividend Corp. (PDV.TO) and BMO Europe High Dividend Covered Call Hedged to CAD ETF (ZWE.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.

PDV.TOZWE.TODifference
Sharpe ratioReturn per unit of total volatility
4.87
1.60

+3.27

Sortino ratioReturn per unit of downside risk
6.28
2.23

+4.05

Omega ratioGain probability vs. loss probability

2.05

1.29

+0.76

Calmar ratioReturn relative to maximum drawdown

13.68

1.86

+11.81

Martin ratioReturn relative to average drawdown

53.79

6.94

+46.85

PDV.TO vs. ZWE.TO - Sharpe Ratio Comparison

The current PDV.TO Sharpe Ratio is 4.87, which is higher than the ZWE.TO Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of PDV.TO and ZWE.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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Drawdowns

PDV.TO vs. ZWE.TO - Drawdown Comparison

The maximum PDV.TO drawdown since its inception was -84.26%, which is greater than ZWE.TO's maximum drawdown of -35.38%. Use the drawdown chart below to compare losses from any high point for PDV.TO and ZWE.TO.

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Drawdown Indicators

PDV.TOZWE.TODifference

Max Drawdown

Largest peak-to-trough decline

-84.26%

-35.38%

-48.88%

Max Drawdown (1Y)

Largest decline over 1 year

-7.79%

-9.56%

+1.77%

Max Drawdown (3Y)

Largest decline over 3 years

-49.89%

-13.60%

-36.29%

Max Drawdown (5Y)

Largest decline over 5 years

-66.58%

-13.60%

-52.98%

Max Drawdown (10Y)

Largest decline over 10 years

-76.89%

-35.38%

-41.51%

Current Drawdown

Current decline from peak

-0.39%

0.00%

-0.39%

Average Drawdown

Average peak-to-trough decline

-31.36%

-4.06%

-27.30%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.03%

2.56%

-0.53%

Volatility

PDV.TO vs. ZWE.TO - Volatility Comparison

Prime Dividend Corp. (PDV.TO) has a higher volatility of 5.46% compared to BMO Europe High Dividend Covered Call Hedged to CAD ETF (ZWE.TO) at 3.18%. This indicates that PDV.TO's price experiences larger fluctuations and is considered to be riskier than ZWE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PDV.TOZWE.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.46%

3.18%

+2.28%

Volatility (6M)

Calculated over the trailing 6-month period

16.16%

9.36%

+6.80%

Volatility (1Y)

Calculated over the trailing 1-year period

21.88%

11.22%

+10.66%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

46.51%

12.61%

+33.90%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

49.51%

15.21%

+34.30%

Dividends

PDV.TO vs. ZWE.TO - Dividend Comparison

PDV.TO's dividend yield for the trailing twelve months is around 6.92%, more than ZWE.TO's 6.55% yield.

PositionTTM20252024202320222021202020192018201720162015
PDV.TO
Prime Dividend Corp.		6.92%7.41%7.90%6.55%7.46%6.14%4.15%6.95%11.34%5.53%4.68%7.86%
ZWE.TO
BMO Europe High Dividend Covered Call Hedged to CAD ETF		6.55%6.81%7.25%7.25%6.98%6.30%7.74%6.68%7.88%6.59%6.87%2.35%

Frequently Asked Questions

PDV.TO and ZWE.TO have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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