XIT.TO vs. ZWT.TO
XIT.TO (iShares S&P/TSX Capped Information Technology Index ETF) and ZWT.TO (BMO Covered Call Technology ETF) are both Technology Equities funds. XIT.TO is passively managed, while ZWT.TO is actively managed. Over the past 5 years, XIT.TO returned 8.31%/yr vs 23.64%/yr for ZWT.TO. A 0.68 correlation means they provide meaningful diversification when combined. XIT.TO charges 0.60%/yr vs 0.71%/yr for ZWT.TO.
Performance
XIT.TO vs. ZWT.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XIT.TO achieves a -4.19% return, which is significantly lower than ZWT.TO's 20.37% return.
XIT.TO
- 1D
- -3.62%
- 1M
- 5.49%
- YTD
- -4.19%
- 6M
- -5.79%
- 1Y
- 9.80%
- 3Y*
- 17.90%
- 5Y*
- 8.31%
- 10Y*
- 17.57%
ZWT.TO
- 1D
- -0.06%
- 1M
- 12.28%
- YTD
- 20.37%
- 6M
- 17.59%
- 1Y
- 47.17%
- 3Y*
- 36.02%
- 5Y*
- 23.64%
- 10Y*
- —
XIT.TO vs. ZWT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XIT.TO iShares S&P/TSX Capped Information Technology Index ETF | -4.19% | 15.48% | 30.02% | 55.56% | -35.85% | 3.41% |
ZWT.TO BMO Covered Call Technology ETF | 20.37% | 18.15% | 49.78% | 65.75% | -31.60% | 22.78% |
Correlation
The correlation between XIT.TO and ZWT.TO is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2021 | 0.68 |
The correlation between XIT.TO and ZWT.TO shifts across timeframes, from 0.58 (1 year) to 0.69 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
XIT.TO vs. ZWT.TO — Risk / Return Rank
XIT.TO
ZWT.TO
XIT.TO vs. ZWT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Capped Information Technology Index ETF (XIT.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.
| XIT.TO | ZWT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.35 | ||
| Sortino ratioReturn per unit of downside risk | -2.70 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.45 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | 0.31 | 2.98 | -2.67 |
| Martin ratioReturn relative to average drawdown | 0.62 | 9.56 | -8.93 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XIT.TO | ZWT.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.31 | 2.66 | -2.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.28 | 1.02 | -0.74 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.66 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | 0.99 | -0.69 |
Drawdowns
XIT.TO vs. ZWT.TO - Drawdown Comparison
The maximum XIT.TO drawdown since its inception was -81.18%, which is greater than ZWT.TO's maximum drawdown of -35.84%. Use the drawdown chart below to compare losses from any high point for XIT.TO and ZWT.TO.
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Drawdown Indicators
| XIT.TO | ZWT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.18% | -35.84% | -45.34% |
Max Drawdown (1Y)Largest decline over 1 year | -31.93% | -15.93% | -16.00% |
Max Drawdown (3Y)Largest decline over 3 years | -31.93% | -26.27% | -5.66% |
Max Drawdown (5Y)Largest decline over 5 years | -54.15% | -35.84% | -18.31% |
Max Drawdown (10Y)Largest decline over 10 years | -54.15% | — | — |
Current DrawdownCurrent decline from peak | -14.47% | -0.06% | -14.41% |
Average DrawdownAverage peak-to-trough decline | -26.86% | -8.84% | -18.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.74% | 4.95% | +10.79% |
Volatility
XIT.TO vs. ZWT.TO - Volatility Comparison
iShares S&P/TSX Capped Information Technology Index ETF (XIT.TO) has a higher volatility of 11.83% compared to BMO Covered Call Technology ETF (ZWT.TO) at 4.19%. This indicates that XIT.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
| XIT.TO | ZWT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.83% | 4.19% | +7.64% |
Volatility (6M)Calculated over the trailing 6-month period | 24.39% | 13.67% | +10.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.36% | 17.81% | +13.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.37% | 23.23% | +6.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.71% | 22.98% | +3.73% |
XIT.TO vs. ZWT.TO - Expense Ratio Comparison
XIT.TO has a 0.60% expense ratio, which is lower than ZWT.TO's 0.71% expense ratio.
Dividends
XIT.TO vs. ZWT.TO - Dividend Comparison
XIT.TO has not paid dividends to shareholders, while ZWT.TO's dividend yield for the trailing twelve months is around 4.22%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XIT.TO iShares S&P/TSX Capped Information Technology Index ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.02% | 0.00% | 0.29% | 0.00% | 0.13% | 0.14% | 0.08% |
ZWT.TO BMO Covered Call Technology ETF | 4.22% | 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
XIT.TO and ZWT.TO have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XIT.TO is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XIT.TO is cheaper with a 0.60% expense ratio, compared with 0.71% for ZWT.TO.
They also come from different issuers: iShares and BMO. Their fees differ too: 0.60% for XIT.TO and 0.71% for ZWT.TO.
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