TLF.TO vs. ZWT.TO
TLF.TO (Brompton Tech Leaders Income ETF) and ZWT.TO (BMO Covered Call Technology ETF) are both Technology Equities funds. Both are actively managed. Over the past 5 years, TLF.TO returned 17.07%/yr vs 20.18%/yr for ZWT.TO. Their correlation of 0.81 suggests significant overlap in exposure.
Performance
TLF.TO vs. ZWT.TO - Performance Comparison
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Returns By Period
In the year-to-date period, TLF.TO achieves a 27.21% return, which is significantly higher than ZWT.TO's 16.20% return.
TLF.TO
- 1D
- -1.40%
- 1M
- -3.87%
- 6M
- 25.65%
- YTD
- 27.21%
- 1Y
- 38.85%
- 3Y*
- 26.00%
- 5Y*
- 17.07%
- 10Y*
- 21.83%
ZWT.TO
- 1D
- -0.80%
- 1M
- -1.69%
- 6M
- 14.81%
- YTD
- 16.20%
- 1Y
- 30.88%
- 3Y*
- 32.15%
- 5Y*
- 20.18%
- 10Y*
- —
TLF.TO vs. ZWT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TLF.TO Brompton Tech Leaders Income ETF | 27.21% | 18.20% | 21.45% | 49.36% | -30.09% | 27.20% |
ZWT.TO BMO Covered Call Technology ETF | 16.20% | 18.15% | 49.78% | 65.75% | -31.60% | 23.39% |
Correlation
The correlation between TLF.TO and ZWT.TO is 0.87, 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 | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Jan 26, 2021 | 0.81 |
The correlation between TLF.TO and ZWT.TO has been stable across timeframes, ranging from 0.81 to 0.87 - a consistent structural relationship.
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Return for Risk
TLF.TO vs. ZWT.TO — Risk / Return Rank
TLF.TO
ZWT.TO
TLF.TO vs. ZWT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Brompton Tech Leaders Income ETF (TLF.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.
| TLF.TO | ZWT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.26 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.65 | 1.95 | +0.70 |
| Martin ratioReturn relative to average drawdown | 9.20 | 6.04 | +3.15 |
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Drawdowns
TLF.TO vs. ZWT.TO - Drawdown Comparison
The maximum TLF.TO drawdown since its inception was -37.19%, roughly equal to the maximum ZWT.TO drawdown of -35.84%. Use the drawdown chart below to compare losses from any high point for TLF.TO and ZWT.TO.
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Drawdown Indicators
| TLF.TO | ZWT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.19% | -35.84% | -1.35% |
Max Drawdown (1Y)Largest decline over 1 year | -14.73% | -15.93% | +1.20% |
Max Drawdown (3Y)Largest decline over 3 years | -24.99% | -26.27% | +1.28% |
Max Drawdown (5Y)Largest decline over 5 years | -37.19% | -35.84% | -1.35% |
Max Drawdown (10Y)Largest decline over 10 years | -37.19% | — | — |
Current DrawdownCurrent decline from peak | -6.84% | -3.51% | -3.33% |
Average DrawdownAverage peak-to-trough decline | -7.35% | -8.72% | +1.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.24% | 5.12% | -0.88% |
Volatility
TLF.TO vs. ZWT.TO - Volatility Comparison
Brompton Tech Leaders Income ETF (TLF.TO) has a higher volatility of 13.38% compared to BMO Covered Call Technology ETF (ZWT.TO) at 7.69%. This indicates that TLF.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
| TLF.TO | ZWT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.38% | 7.69% | +5.69% |
Volatility (6M)Calculated over the trailing 6-month period | 21.66% | 16.48% | +5.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.42% | 20.25% | +4.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.80% | 23.64% | +2.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.20% | 23.16% | +1.04% |
Dividends
TLF.TO vs. ZWT.TO - Dividend Comparison
TLF.TO's dividend yield for the trailing twelve months is around 5.41%, more than ZWT.TO's 4.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TLF.TO Brompton Tech Leaders Income ETF | 5.41% | 5.90% | 5.86% | 5.31% | 6.97% | 3.40% | 3.49% | 4.64% | 6.05% | 5.94% | 7.67% | 7.63% |
ZWT.TO BMO Covered Call Technology ETF | 4.59% | 4.46% | 3.34% | 3.83% | 6.54% | 4.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TLF.TO and ZWT.TO have a correlation of 0.87, 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: Brompton and BMO.
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