YGOG.NEO vs. ZWC.TO

Last updated Jun 4, 2026

YGOG.NEO (Alphabet (GOOGL) Yield Shares Purpose ETF) and ZWC.TO (BMO CA High Dividend Covered Call ETF) are both Derivative Income funds. Both are actively managed. Over the past 3 years, YGOG.NEO returned 45.35%/yr vs 17.17%/yr for ZWC.TO. At a 0.20 correlation, their price movements are largely independent. YGOG.NEO charges 0.40%/yr vs 0.91%/yr for ZWC.TO.

Performance

YGOG.NEO vs. ZWC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Alphabet (GOOGL) Yield Shares Purpose ETF (YGOG.NEO) and BMO CA High Dividend Covered Call ETF (ZWC.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with YGOG.NEO having a 10.76% return and ZWC.TO slightly higher at 11.12%.

YGOG.NEO

• 1D: -0.97%
• 1M: -7.79%
• YTD: 10.76%
• 6M: 8.82%
• 1Y: 119.67%
• 3Y*: 45.35%
• 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*: —

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

YGOG.NEO vs. ZWC.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
YGOG.NEO Alphabet (GOOGL) Yield Shares Purpose ETF	10.76%	69.45%	46.37%	56.07%	1.18%
ZWC.TO BMO CA High Dividend Covered Call ETF	11.12%	22.79%	12.00%	7.54%	1.17%

Correlation

The correlation between YGOG.NEO and ZWC.TO is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (All Time) Calculated using the full available price history since Dec 20, 2022	0.20

YGOG.NEO vs. ZWC.TO - Sectors Allocation Comparison

Sectors	YGOG.NEO	ZWC.TO
Communication Services	100.0%	6.4%
Basic Materials	-	12.7%
Consumer Cyclical	-	4.1%
Consumer Defensive	-	1.5%
Energy	-	22.9%
Financial Services	-	38.7%
Healthcare	-	-
Industrials	-	4.9%
Real Estate	-	-
Technology	-	-
Utilities	-	8.9%

Return for Risk

YGOG.NEO vs. ZWC.TO — Risk / Return Rank

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

YGOG.NEO

YGOG.NEO Risk / Return Rank: 92
YGOG.NEO Sharpe Ratio Rank: 95
YGOG.NEO Sortino Ratio Rank: 94
YGOG.NEO Omega Ratio Rank: 92
YGOG.NEO Calmar Ratio Rank: 90
YGOG.NEO Martin Ratio Rank: 90

ZWC.TO

ZWC.TO Risk / Return Rank: 92
ZWC.TO Sharpe Ratio Rank: 93
ZWC.TO Sortino Ratio Rank: 95
ZWC.TO Omega Ratio Rank: 94
ZWC.TO Calmar Ratio Rank: 85
ZWC.TO Martin Ratio Rank: 92

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.

YGOG.NEO vs. ZWC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alphabet (GOOGL) Yield Shares Purpose ETF (YGOG.NEO) 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.

	YGOG.NEO	ZWC.TO	Difference
Sharpe ratio Return per unit of total volatility	3.77	3.61	+0.16
Sortino ratio Return per unit of downside risk	4.77	5.11	-0.34
Omega ratio Gain probability vs. loss probability	1.61	1.69	-0.08
Calmar ratio Return relative to maximum drawdown	5.52	4.71	+0.81
Martin ratio Return relative to average drawdown	20.61	23.23	-2.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

YGOG.NEO vs. ZWC.TO - Sharpe Ratio Comparison

The current YGOG.NEO Sharpe Ratio is 3.77, which is comparable to the ZWC.TO Sharpe Ratio of 3.61. The chart below compares the historical Sharpe Ratios of YGOG.NEO and ZWC.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

	YGOG.NEO	ZWC.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.77	3.61	+0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.10	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.62	0.56	+1.06

Drawdowns

YGOG.NEO vs. ZWC.TO - Drawdown Comparison

The maximum YGOG.NEO drawdown since its inception was -33.45%, smaller than the maximum ZWC.TO drawdown of -40.57%. Use the drawdown chart below to compare losses from any high point for YGOG.NEO and ZWC.TO.

Drawdown Indicators

	YGOG.NEO	ZWC.TO	Difference
Max Drawdown Largest peak-to-trough decline	-33.45%	-40.57%	+7.12%
Max Drawdown (1Y) Largest decline over 1 year	-21.82%	-5.99%	-15.83%
Max Drawdown (3Y) Largest decline over 3 years	-33.45%	-9.09%	-24.36%
Max Drawdown (5Y) Largest decline over 5 years	—	-16.43%	—
Current Drawdown Current decline from peak	-11.86%	-0.97%	-10.89%
Average Drawdown Average peak-to-trough decline	-7.59%	-4.69%	-2.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.83%	1.21%	+4.62%

Volatility

YGOG.NEO vs. ZWC.TO - Volatility Comparison

Alphabet (GOOGL) Yield Shares Purpose ETF (YGOG.NEO) has a higher volatility of 11.10% compared to BMO CA High Dividend Covered Call ETF (ZWC.TO) at 2.40%. This indicates that YGOG.NEO's price experiences larger fluctuations and is considered to be riskier than ZWC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YGOG.NEO	ZWC.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.10%	2.40%	+8.70%
Volatility (6M) Calculated over the trailing 6-month period	22.75%	6.77%	+15.98%
Volatility (1Y) Calculated over the trailing 1-year period	32.02%	7.80%	+24.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.94%	10.13%	+22.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.94%	14.94%	+18.00%

YGOG.NEO vs. ZWC.TO - Expense Ratio Comparison

YGOG.NEO has a 0.40% expense ratio, which is lower than ZWC.TO's 0.91% expense ratio.

Dividends

YGOG.NEO vs. ZWC.TO - Dividend Comparison

YGOG.NEO's dividend yield for the trailing twelve months is around 8.15%, more than ZWC.TO's 5.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
YGOG.NEO Alphabet (GOOGL) Yield Shares Purpose ETF	8.15%	5.84%	14.19%	7.22%	0.91%	0.00%	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

Can I hold both YGOG.NEO and ZWC.TO in my portfolio?

YGOG.NEO and ZWC.TO have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, YGOG.NEO or ZWC.TO?

On fees, YGOG.NEO is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, YGOG.NEO or ZWC.TO?

YGOG.NEO is cheaper with a 0.40% expense ratio, compared with 0.91% for ZWC.TO.

What is the main difference between YGOG.NEO and ZWC.TO?

They also come from different issuers: Purpose and BMO. Their fees differ too: 0.40% for YGOG.NEO and 0.91% for ZWC.TO.