TEC.TO vs. ZWT.TO
TEC.TO (TD Global Technology Leaders Index ETF) and ZWT.TO (BMO Covered Call Technology ETF) are both Technology Equities funds. TEC.TO is passively managed, while ZWT.TO is actively managed. Over the past 5 years, TEC.TO returned 20.37%/yr vs 23.46%/yr for ZWT.TO. Their correlation of 0.92 suggests significant overlap in exposure. TEC.TO charges 0.39%/yr vs 0.71%/yr for ZWT.TO.
Performance
TEC.TO vs. ZWT.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TEC.TO achieves a 17.79% return, which is significantly lower than ZWT.TO's 19.50% return.
TEC.TO
- 1D
- -0.14%
- 1M
- 10.81%
- YTD
- 17.79%
- 6M
- 14.85%
- 1Y
- 40.10%
- 3Y*
- 31.10%
- 5Y*
- 20.37%
- 10Y*
- —
ZWT.TO
- 1D
- -0.72%
- 1M
- 10.24%
- YTD
- 19.50%
- 6M
- 16.61%
- 1Y
- 45.80%
- 3Y*
- 35.67%
- 5Y*
- 23.46%
- 10Y*
- —
TEC.TO vs. ZWT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TEC.TO TD Global Technology Leaders Index ETF | 17.79% | 15.45% | 45.60% | 53.28% | -32.19% | 20.86% |
ZWT.TO BMO Covered Call Technology ETF | 19.50% | 18.15% | 49.78% | 65.75% | -31.60% | 22.78% |
Correlation
The correlation between TEC.TO and ZWT.TO is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2021 | 0.92 |
The correlation between TEC.TO and ZWT.TO has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TEC.TO vs. ZWT.TO — Risk / Return Rank
TEC.TO
ZWT.TO
TEC.TO vs. ZWT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TD Global Technology Leaders Index ETF (TEC.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.
| TEC.TO | ZWT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.43 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.30 | 2.89 | -0.59 |
| Martin ratioReturn relative to average drawdown | 6.83 | 9.28 | -2.45 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| TEC.TO | ZWT.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.39 | 2.58 | -0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.92 | 1.02 | -0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.97 | 0.98 | -0.01 |
Drawdowns
TEC.TO vs. ZWT.TO - Drawdown Comparison
The maximum TEC.TO drawdown since its inception was -35.31%, roughly equal to the maximum ZWT.TO drawdown of -35.84%. Use the drawdown chart below to compare losses from any high point for TEC.TO and ZWT.TO.
Loading charts...
Drawdown Indicators
| TEC.TO | ZWT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.31% | -35.84% | +0.53% |
Max Drawdown (1Y)Largest decline over 1 year | -17.52% | -15.93% | -1.59% |
Max Drawdown (3Y)Largest decline over 3 years | -25.01% | -26.27% | +1.26% |
Max Drawdown (5Y)Largest decline over 5 years | -35.31% | -35.84% | +0.53% |
Current DrawdownCurrent decline from peak | -0.84% | -0.77% | -0.07% |
Average DrawdownAverage peak-to-trough decline | -8.04% | -8.83% | +0.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.89% | 4.95% | +0.94% |
Volatility
TEC.TO vs. ZWT.TO - Volatility Comparison
TD Global Technology Leaders Index ETF (TEC.TO) has a higher volatility of 4.75% compared to BMO Covered Call Technology ETF (ZWT.TO) at 4.33%. This indicates that TEC.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.
Loading charts...
Volatility by Period
| TEC.TO | ZWT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.75% | 4.33% | +0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 12.86% | 13.69% | -0.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.84% | 17.82% | -0.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.32% | 23.23% | -0.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.78% | 22.97% | +0.81% |
TEC.TO vs. ZWT.TO - Expense Ratio Comparison
TEC.TO has a 0.39% expense ratio, which is lower than ZWT.TO's 0.71% expense ratio.
Dividends
TEC.TO vs. ZWT.TO - Dividend Comparison
TEC.TO's dividend yield for the trailing twelve months is around 0.10%, less than ZWT.TO's 4.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
TEC.TO TD Global Technology Leaders Index ETF | 0.10% | 0.13% | 0.12% | 0.21% | 0.31% | 0.22% | 0.33% | 0.28% |
ZWT.TO BMO Covered Call Technology ETF | 4.25% | 4.46% | 3.34% | 3.83% | 6.54% | 4.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.93, TEC.TO and ZWT.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, TEC.TO is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TEC.TO is cheaper with a 0.39% expense ratio, compared with 0.71% for ZWT.TO.
They also come from different issuers: TD and BMO. Their fees differ too: 0.39% for TEC.TO and 0.71% for ZWT.TO.
Find the right allocation for TEC.TO and ZWT.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer