XSTH.TO vs. ZWC.TO
XSTH.TO (iShares 0-5 Year TIPS Bond Index ETF (CAD-Hedged)) and ZWC.TO (BMO CA High Dividend Covered Call ETF) are both exchange-traded funds - XSTH.TO is a Inflation-Protected Bonds fund tracking the Morningstar Gbl Core Bd GR CAD, while ZWC.TO is a Derivative Income fund actively managed by BMO. XSTH.TO is passively managed, while ZWC.TO is actively managed. Over the past 3 years, XSTH.TO returned 3.85%/yr vs 17.17%/yr for ZWC.TO. At a 0.16 correlation, their price movements are largely independent. XSTH.TO charges 0.16%/yr vs 0.91%/yr for ZWC.TO.
Performance
XSTH.TO vs. ZWC.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XSTH.TO achieves a 1.24% return, which is significantly lower than ZWC.TO's 11.12% return.
XSTH.TO
- 1D
- -0.03%
- 1M
- -0.13%
- YTD
- 1.24%
- 6M
- 1.11%
- 1Y
- 2.77%
- 3Y*
- 3.85%
- 5Y*
- —
- 10Y*
- —
ZWC.TO
- 1D
- -0.27%
- 1M
- 2.71%
- YTD
- 11.12%
- 6M
- 12.78%
- 1Y
- 28.05%
- 3Y*
- 17.17%
- 5Y*
- 11.09%
- 10Y*
- —
XSTH.TO vs. ZWC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XSTH.TO iShares 0-5 Year TIPS Bond Index ETF (CAD-Hedged) | 1.24% | 4.20% | 3.68% | 3.90% | -3.36% | 1.76% |
ZWC.TO BMO CA High Dividend Covered Call ETF | 11.12% | 22.79% | 12.00% | 7.54% | -3.54% | 7.23% |
Correlation
The correlation between XSTH.TO and ZWC.TO is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jul 15, 2021 | 0.16 |
The correlation between XSTH.TO and ZWC.TO shifts across timeframes, from 0.01 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XSTH.TO vs. ZWC.TO — Risk / Return Rank
XSTH.TO
ZWC.TO
XSTH.TO vs. ZWC.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 0-5 Year TIPS Bond Index ETF (CAD-Hedged) (XSTH.TO) and BMO CA High Dividend Covered Call ETF (ZWC.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.
| XSTH.TO | ZWC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.33 | ||
| Sortino ratioReturn per unit of downside risk | -3.18 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.69 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | 4.71 | -2.84 |
| Martin ratioReturn relative to average drawdown | 7.42 | 23.23 | -15.81 |
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
| XSTH.TO | ZWC.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.28 | 3.61 | -2.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 0.56 | +0.08 |
Drawdowns
XSTH.TO vs. ZWC.TO - Drawdown Comparison
The maximum XSTH.TO drawdown since its inception was -5.98%, smaller than the maximum ZWC.TO drawdown of -40.57%. Use the drawdown chart below to compare losses from any high point for XSTH.TO and ZWC.TO.
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Drawdown Indicators
| XSTH.TO | ZWC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.98% | -40.57% | +34.59% |
Max Drawdown (1Y)Largest decline over 1 year | -1.49% | -5.99% | +4.50% |
Max Drawdown (3Y)Largest decline over 3 years | -1.49% | -9.09% | +7.60% |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.43% | — |
Current DrawdownCurrent decline from peak | -0.19% | -0.97% | +0.78% |
Average DrawdownAverage peak-to-trough decline | -1.56% | -4.69% | +3.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.37% | 1.21% | -0.84% |
Volatility
XSTH.TO vs. ZWC.TO - Volatility Comparison
The current volatility for iShares 0-5 Year TIPS Bond Index ETF (CAD-Hedged) (XSTH.TO) is 0.43%, while BMO CA High Dividend Covered Call ETF (ZWC.TO) has a volatility of 2.40%. This indicates that XSTH.TO experiences smaller price fluctuations and is considered to be less risky than ZWC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XSTH.TO | ZWC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.43% | 2.40% | -1.97% |
Volatility (6M)Calculated over the trailing 6-month period | 1.52% | 6.77% | -5.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.18% | 7.80% | -5.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.64% | 10.13% | -6.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.64% | 14.94% | -11.30% |
XSTH.TO vs. ZWC.TO - Expense Ratio Comparison
XSTH.TO has a 0.16% expense ratio, which is lower than ZWC.TO's 0.91% expense ratio.
Dividends
XSTH.TO vs. ZWC.TO - Dividend Comparison
XSTH.TO's dividend yield for the trailing twelve months is around 3.55%, less than ZWC.TO's 5.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
XSTH.TO iShares 0-5 Year TIPS Bond Index ETF (CAD-Hedged) | 3.55% | 3.94% | 2.53% | 3.15% | 6.07% | 2.05% | 0.00% | 0.00% | 0.00% | 0.00% |
ZWC.TO BMO CA High Dividend Covered Call ETF | 5.64% | 5.92% | 6.73% | 7.62% | 7.01% | 6.60% | 8.15% | 6.92% | 7.11% | 5.46% |
Frequently Asked Questions
XSTH.TO and ZWC.TO have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XSTH.TO is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XSTH.TO is cheaper with a 0.16% expense ratio, compared with 0.91% for ZWC.TO.
XSTH.TO is categorized as Inflation-Protected Bonds, while ZWC.TO is Derivative Income. They also come from different issuers: iShares and BMO. Their fees differ too: 0.16% for XSTH.TO and 0.91% for ZWC.TO.
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