QQQT.TO vs. ZWT.TO

Last updated Jun 24, 2026

QQQT.TO (Evolve NASDAQ Technology Index Fund CAD Hedged) and ZWT.TO (BMO Covered Call Technology ETF) are both exchange-traded funds - QQQT.TO is a Nasdaq-100 fund tracking the Nasdaq-100 Technology Sector Adjusted Market-Cap Weighted Index, while ZWT.TO is a Technology Equities fund actively managed by BMO. QQQT.TO is passively managed, while ZWT.TO is actively managed. Over the past year, QQQT.TO returned 54.93% vs 37.50% for ZWT.TO. A 0.78 correlation means they provide meaningful diversification when combined. QQQT.TO charges 0.25%/yr vs 0.71%/yr for ZWT.TO.

Performance

QQQT.TO vs. ZWT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Evolve NASDAQ Technology Index Fund CAD Hedged (QQQT.TO) and BMO Covered Call Technology ETF (ZWT.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQT.TO achieves a 24.22% return, which is significantly higher than ZWT.TO's 15.43% return.

QQQT.TO

• 1D: -3.63%
• 1M: 1.53%
• YTD: 24.22%
• 6M: 22.63%
• 1Y: 54.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ZWT.TO

• 1D: -2.45%
• 1M: 0.88%
• YTD: 15.43%
• 6M: 14.72%
• 1Y: 37.50%
• 3Y*: 33.94%
• 5Y*: 21.11%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

QQQT.TO vs. ZWT.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
QQQT.TO Evolve NASDAQ Technology Index Fund CAD Hedged	24.22%	30.06%	28.24%	14.98%
ZWT.TO BMO Covered Call Technology ETF	15.43%	18.15%	49.78%	15.56%

Correlation

The correlation between QQQT.TO and ZWT.TO is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (All Time) Calculated using the full available price history since Jul 12, 2023	0.78

The correlation between QQQT.TO and ZWT.TO shifts across timeframes, from 0.78 (all time) to 0.89 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

QQQT.TO vs. ZWT.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QQQT.TO

QQQT.TO Risk / Return Rank: 69
QQQT.TO Sharpe Ratio Rank: 76
QQQT.TO Sortino Ratio Rank: 66
QQQT.TO Omega Ratio Rank: 69
QQQT.TO Calmar Ratio Rank: 67
QQQT.TO Martin Ratio Rank: 66

ZWT.TO

ZWT.TO Risk / Return Rank: 54
ZWT.TO Sharpe Ratio Rank: 62
ZWT.TO Sortino Ratio Rank: 54
ZWT.TO Omega Ratio Rank: 55
ZWT.TO Calmar Ratio Rank: 51
ZWT.TO Martin Ratio Rank: 47

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.

QQQT.TO vs. ZWT.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Evolve NASDAQ Technology Index Fund CAD Hedged (QQQT.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.

	QQQT.TO	ZWT.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.28	1.93	+0.36
Sortino ratio: Return per unit of downside risk	2.86	2.47	+0.39
Omega ratio: Gain probability vs. loss probability	1.39	1.33	+0.06
Calmar ratio: Return relative to maximum drawdown	3.18	2.36	+0.81
Martin ratio: Return relative to average drawdown	11.54	7.44	+4.10

QQQT.TO vs. ZWT.TO - Sharpe Ratio Comparison

The current QQQT.TO Sharpe Ratio is 2.28, which is comparable to the ZWT.TO Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of QQQT.TO and ZWT.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.

Drawdowns

QQQT.TO vs. ZWT.TO - Drawdown Comparison

The maximum QQQT.TO drawdown since its inception was -30.32%, smaller than the maximum ZWT.TO drawdown of -35.84%. Use the drawdown chart below to compare losses from any high point for QQQT.TO and ZWT.TO.

Drawdown Indicators

	QQQT.TO	ZWT.TO	Difference
Max Drawdown Largest peak-to-trough decline	-30.32%	-35.84%	+5.52%
Max Drawdown (1Y) Largest decline over 1 year	-17.37%	-15.93%	-1.44%
Max Drawdown (3Y) Largest decline over 3 years	—	-26.27%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-35.84%	—
Current Drawdown Current decline from peak	-5.82%	-4.15%	-1.67%
Average Drawdown Average peak-to-trough decline	-5.42%	-8.78%	+3.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.77%	5.05%	-0.28%

Volatility

QQQT.TO vs. ZWT.TO - Volatility Comparison

Evolve NASDAQ Technology Index Fund CAD Hedged (QQQT.TO) has a higher volatility of 11.82% compared to BMO Covered Call Technology ETF (ZWT.TO) at 9.16%. This indicates that QQQT.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.

Volatility by Period

	QQQT.TO	ZWT.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.82%	9.16%	+2.66%
Volatility (6M) Calculated over the trailing 6-month period	19.84%	15.56%	+4.28%
Volatility (1Y) Calculated over the trailing 1-year period	24.19%	19.59%	+4.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.78%	23.51%	+7.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.78%	23.14%	+7.64%

QQQT.TO vs. ZWT.TO - Expense Ratio Comparison

QQQT.TO has a 0.25% expense ratio, which is lower than ZWT.TO's 0.71% expense ratio.

Dividends

QQQT.TO vs. ZWT.TO - Dividend Comparison

QQQT.TO's dividend yield for the trailing twelve months is around 0.24%, less than ZWT.TO's 4.40% yield.

Position	TTM	2025	2024	2023	2022	2021
QQQT.TO Evolve NASDAQ Technology Index Fund CAD Hedged	0.24%	0.30%	0.39%	0.26%	0.00%	0.00%
ZWT.TO BMO Covered Call Technology ETF	4.40%	4.46%	3.34%	3.83%	6.54%	4.00%

Frequently Asked Questions

Can I hold both QQQT.TO and ZWT.TO in my portfolio?

QQQT.TO and ZWT.TO have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QQQT.TO or ZWT.TO?

On fees, QQQT.TO is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QQQT.TO or ZWT.TO?

QQQT.TO is cheaper with a 0.25% expense ratio, compared with 0.71% for ZWT.TO.

What is the main difference between QQQT.TO and ZWT.TO?

QQQT.TO is categorized as Nasdaq-100, while ZWT.TO is Technology Equities. They also come from different issuers: Evolve and BMO. Their fees differ too: 0.25% for QQQT.TO and 0.71% for ZWT.TO.