QDAY.NEO vs. ZPW.TO
QDAY.NEO (Hamilton EnhancedTechnology DayMAX™ ETF) and ZPW.TO (BMO US Put Write ETF) are both Derivative Income funds. Both are actively managed. Over the past year, QDAY.NEO returned 48.25% vs 11.62% for ZPW.TO. At a 0.40 correlation, their price movements are largely independent. QDAY.NEO charges 0.85%/yr vs 0.65%/yr for ZPW.TO.
Performance
QDAY.NEO vs. ZPW.TO - Performance Comparison
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Returns By Period
In the year-to-date period, QDAY.NEO achieves a 29.09% return, which is significantly higher than ZPW.TO's 5.69% return.
QDAY.NEO
- 1D
- 0.87%
- 1M
- 2.70%
- 6M
- 24.69%
- YTD
- 29.09%
- 1Y
- 48.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZPW.TO
- 1D
- -0.50%
- 1M
- 2.76%
- 6M
- 4.49%
- YTD
- 5.69%
- 1Y
- 11.62%
- 3Y*
- 11.60%
- 5Y*
- 9.15%
- 10Y*
- 6.12%
QDAY.NEO vs. ZPW.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QDAY.NEO Hamilton EnhancedTechnology DayMAX™ ETF | 29.09% | 14.84% |
ZPW.TO BMO US Put Write ETF | 5.69% | 6.43% |
Correlation
The correlation between QDAY.NEO and ZPW.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 Jul 14, 2025 | 0.40 |
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Return for Risk
QDAY.NEO vs. ZPW.TO — Risk / Return Rank
QDAY.NEO
ZPW.TO
QDAY.NEO vs. ZPW.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hamilton EnhancedTechnology DayMAX™ ETF (QDAY.NEO) and BMO US Put Write ETF (ZPW.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.
| QDAY.NEO | ZPW.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.34 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.30 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.52 | 2.08 | +0.44 |
| Martin ratioReturn relative to average drawdown | 6.91 | 5.91 | +1.00 |
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Drawdowns
QDAY.NEO vs. ZPW.TO - Drawdown Comparison
The maximum QDAY.NEO drawdown since its inception was -19.44%, smaller than the maximum ZPW.TO drawdown of -23.77%. Use the drawdown chart below to compare losses from any high point for QDAY.NEO and ZPW.TO.
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Drawdown Indicators
| QDAY.NEO | ZPW.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.44% | -23.77% | +4.33% |
Max Drawdown (1Y)Largest decline over 1 year | -19.44% | -5.61% | -13.83% |
Max Drawdown (3Y)Largest decline over 3 years | — | -12.35% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.57% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.77% | — |
Current DrawdownCurrent decline from peak | -2.80% | -0.50% | -2.30% |
Average DrawdownAverage peak-to-trough decline | -5.04% | -4.05% | -0.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.98% | — |
Volatility
QDAY.NEO vs. ZPW.TO - Volatility Comparison
Hamilton EnhancedTechnology DayMAX™ ETF (QDAY.NEO) has a higher volatility of 10.39% compared to BMO US Put Write ETF (ZPW.TO) at 2.89%. This indicates that QDAY.NEO's price experiences larger fluctuations and is considered to be riskier than ZPW.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QDAY.NEO | ZPW.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.39% | 2.89% | +7.50% |
Volatility (6M)Calculated over the trailing 6-month period | 20.33% | 6.18% | +14.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.26% | 7.32% | +17.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.26% | 10.62% | +14.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.26% | 11.72% | +13.54% |
QDAY.NEO vs. ZPW.TO - Expense Ratio Comparison
QDAY.NEO has a 0.85% expense ratio, which is higher than ZPW.TO's 0.65% expense ratio.
Dividends
QDAY.NEO vs. ZPW.TO - Dividend Comparison
QDAY.NEO's dividend yield for the trailing twelve months is around 15.94%, more than ZPW.TO's 9.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QDAY.NEO Hamilton EnhancedTechnology DayMAX™ ETF | 15.94% | 8.78% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZPW.TO BMO US Put Write ETF | 9.49% | 9.55% | 9.18% | 7.57% | 8.20% | 7.24% | 7.61% | 7.17% | 6.61% | 6.82% | 7.32% | 2.32% |
Frequently Asked Questions
QDAY.NEO and ZPW.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.
On fees, ZPW.TO is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZPW.TO is cheaper with a 0.65% expense ratio, compared with 0.85% for QDAY.NEO.
They also come from different issuers: Hamilton Capital and BMO. Their fees differ too: 0.85% for QDAY.NEO and 0.65% for ZPW.TO.
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