XTR.TO vs. ZWQT.TO

Last updated Jun 4, 2026

XTR.TO (iShares Diversified Monthly Income ETF) and ZWQT.TO (BMO Global Enhanced Income Fund Series ETF) are both exchange-traded funds - XTR.TO is a Diversified Portfolio fund tracking the Morningstar Can Neut Tgt Alloc NR CAD, while ZWQT.TO is a Global Allocation fund actively managed by BMO. XTR.TO is passively managed, while ZWQT.TO is actively managed. Over the past year, XTR.TO returned 13.02% vs 30.83% for ZWQT.TO. A 0.54 correlation means they provide meaningful diversification when combined. XTR.TO charges 0.61%/yr vs 0.87%/yr for ZWQT.TO.

Performance

XTR.TO vs. ZWQT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Diversified Monthly Income ETF (XTR.TO) and BMO Global Enhanced Income Fund Series ETF (ZWQT.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XTR.TO achieves a 6.55% return, which is significantly lower than ZWQT.TO's 13.46% return.

XTR.TO

• 1D: 0.16%
• 1M: 2.50%
• YTD: 6.55%
• 6M: 6.45%
• 1Y: 13.02%
• 3Y*: 10.98%
• 5Y*: 6.00%
• 10Y*: 5.99%

ZWQT.TO

• 1D: -0.20%
• 1M: 6.80%
• YTD: 13.46%
• 6M: 14.11%
• 1Y: 30.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XTR.TO vs. ZWQT.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
XTR.TO iShares Diversified Monthly Income ETF	6.55%	8.54%	12.80%	6.54%
ZWQT.TO BMO Global Enhanced Income Fund Series ETF	13.46%	14.08%	17.82%	8.19%

Correlation

The correlation between XTR.TO and ZWQT.TO is 0.54, 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	0.54
Correlation (All Time) Calculated using the full available price history since Jun 26, 2023	0.54

The correlation between XTR.TO and ZWQT.TO has been stable across timeframes, ranging from 0.54 to 0.54 - a consistent structural relationship.

Return for Risk

XTR.TO vs. ZWQT.TO — Risk / Return Rank

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

XTR.TO

XTR.TO Risk / Return Rank: 85
XTR.TO Sharpe Ratio Rank: 85
XTR.TO Sortino Ratio Rank: 90
XTR.TO Omega Ratio Rank: 89
XTR.TO Calmar Ratio Rank: 78
XTR.TO Martin Ratio Rank: 84

ZWQT.TO

ZWQT.TO Risk / Return Rank: 92
ZWQT.TO Sharpe Ratio Rank: 92
ZWQT.TO Sortino Ratio Rank: 93
ZWQT.TO Omega Ratio Rank: 93
ZWQT.TO Calmar Ratio Rank: 90
ZWQT.TO Martin Ratio Rank: 93

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.

XTR.TO vs. ZWQT.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Diversified Monthly Income ETF (XTR.TO) and BMO Global Enhanced Income Fund Series ETF (ZWQT.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.

	XTR.TO	ZWQT.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.85	3.30	-0.45
Sortino ratio: Return per unit of downside risk	4.22	4.66	-0.44
Omega ratio: Gain probability vs. loss probability	1.58	1.65	-0.07
Calmar ratio: Return relative to maximum drawdown	3.97	5.66	-1.69
Martin ratio: Return relative to average drawdown	17.48	23.85	-6.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XTR.TO vs. ZWQT.TO - Sharpe Ratio Comparison

The current XTR.TO Sharpe Ratio is 2.85, which is comparable to the ZWQT.TO Sharpe Ratio of 3.30. The chart below compares the historical Sharpe Ratios of XTR.TO and ZWQT.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.

Sharpe Ratios by Period

	XTR.TO	ZWQT.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.85	3.30	-0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.96	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.72	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	1.71	-1.31

Drawdowns

XTR.TO vs. ZWQT.TO - Drawdown Comparison

The maximum XTR.TO drawdown since its inception was -51.42%, which is greater than ZWQT.TO's maximum drawdown of -14.93%. Use the drawdown chart below to compare losses from any high point for XTR.TO and ZWQT.TO.

Drawdown Indicators

	XTR.TO	ZWQT.TO	Difference
Max Drawdown Largest peak-to-trough decline	-51.42%	-14.93%	-36.49%
Max Drawdown (1Y) Largest decline over 1 year	-3.29%	-5.47%	+2.18%
Max Drawdown (3Y) Largest decline over 3 years	-6.06%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-9.74%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-25.92%	—	—
Current Drawdown Current decline from peak	-0.16%	-0.20%	+0.04%
Average Drawdown Average peak-to-trough decline	-4.96%	-1.47%	-3.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.75%	1.30%	-0.55%

Volatility

XTR.TO vs. ZWQT.TO - Volatility Comparison

The current volatility for iShares Diversified Monthly Income ETF (XTR.TO) is 1.60%, while BMO Global Enhanced Income Fund Series ETF (ZWQT.TO) has a volatility of 3.22%. This indicates that XTR.TO experiences smaller price fluctuations and is considered to be less risky than ZWQT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XTR.TO	ZWQT.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.60%	3.22%	-1.62%
Volatility (6M) Calculated over the trailing 6-month period	3.75%	7.02%	-3.27%
Volatility (1Y) Calculated over the trailing 1-year period	4.59%	9.40%	-4.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.27%	10.92%	-4.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.33%	10.92%	-2.59%

XTR.TO vs. ZWQT.TO - Expense Ratio Comparison

XTR.TO has a 0.61% expense ratio, which is lower than ZWQT.TO's 0.87% expense ratio.

Dividends

XTR.TO vs. ZWQT.TO - Dividend Comparison

XTR.TO's dividend yield for the trailing twelve months is around 3.92%, less than ZWQT.TO's 4.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XTR.TO iShares Diversified Monthly Income ETF	3.92%	4.10%	4.27%	4.61%	4.62%	4.21%	5.56%	5.38%	5.75%	5.24%	5.30%	6.81%
ZWQT.TO BMO Global Enhanced Income Fund Series ETF	4.99%	5.54%	5.96%	3.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XTR.TO and ZWQT.TO in my portfolio?

XTR.TO and ZWQT.TO have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XTR.TO or ZWQT.TO?

On fees, XTR.TO is cheaper at 0.61% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XTR.TO or ZWQT.TO?

XTR.TO is cheaper with a 0.61% expense ratio, compared with 0.87% for ZWQT.TO.

What is the main difference between XTR.TO and ZWQT.TO?

XTR.TO is categorized as Diversified Portfolio, while ZWQT.TO is Global Allocation. They also come from different issuers: iShares and BMO. Their fees differ too: 0.61% for XTR.TO and 0.87% for ZWQT.TO.