YGOG.NEO vs. ZWU.TO

Last updated Jun 4, 2026

YGOG.NEO (Alphabet (GOOGL) Yield Shares Purpose ETF) and ZWU.TO (BMO Covered Call Utilities ETF) are both exchange-traded funds - YGOG.NEO is a Derivative Income fund actively managed by Purpose, while ZWU.TO is a Utilities Equities fund actively managed by BMO. Both are actively managed. Over the past 3 years, YGOG.NEO returned 45.35%/yr vs 10.66%/yr for ZWU.TO. At a 0.00 correlation, their price movements are largely independent. YGOG.NEO charges 0.40%/yr vs 0.65%/yr for ZWU.TO.

Performance

YGOG.NEO vs. ZWU.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 Covered Call Utilities ETF (ZWU.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, YGOG.NEO achieves a 10.76% return, which is significantly higher than ZWU.TO's 10.15% return.

YGOG.NEO

• 1D: -0.97%
• 1M: -7.79%
• YTD: 10.76%
• 6M: 8.82%
• 1Y: 119.67%
• 3Y*: 45.35%
• 5Y*: —
• 10Y*: —

ZWU.TO

• 1D: -0.50%
• 1M: -0.34%
• YTD: 10.15%
• 6M: 9.37%
• 1Y: 15.17%
• 3Y*: 10.66%
• 5Y*: 6.33%
• 10Y*: 6.08%

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

YGOG.NEO vs. ZWU.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%
ZWU.TO BMO Covered Call Utilities ETF	10.15%	13.18%	10.97%	-2.79%	1.31%

Correlation

The correlation between YGOG.NEO and ZWU.TO is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.13
Correlation (3Y) Calculated over the trailing 3-year period	-0.03
Correlation (All Time) Calculated using the full available price history since Dec 20, 2022	0.00

The correlation between YGOG.NEO and ZWU.TO shifts across timeframes, from -0.13 (1 year) to 0.00 (all time), reflecting how their relationship changes across market environments.

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

Sectors	YGOG.NEO	ZWU.TO
Communication Services	100.0%	21.5%
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	25.8%
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	52.7%

Return for Risk

YGOG.NEO vs. ZWU.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

ZWU.TO

ZWU.TO Risk / Return Rank: 58
ZWU.TO Sharpe Ratio Rank: 58
ZWU.TO Sortino Ratio Rank: 62
ZWU.TO Omega Ratio Rank: 57
ZWU.TO Calmar Ratio Rank: 63
ZWU.TO Martin Ratio Rank: 51

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. ZWU.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 Covered Call Utilities ETF (ZWU.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	ZWU.TO	Difference
Sharpe ratio Return per unit of total volatility	3.77	2.01	+1.76
Sortino ratio Return per unit of downside risk	4.77	2.94	+1.82
Omega ratio Gain probability vs. loss probability	1.61	1.36	+0.25
Calmar ratio Return relative to maximum drawdown	5.52	3.13	+2.38
Martin ratio Return relative to average drawdown	20.61	8.85	+11.76
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. ZWU.TO - Sharpe Ratio Comparison

The current YGOG.NEO Sharpe Ratio is 3.77, which is higher than the ZWU.TO Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of YGOG.NEO and ZWU.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	ZWU.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.77	2.01	+1.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.61	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.43	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.62	0.42	+1.20

Drawdowns

YGOG.NEO vs. ZWU.TO - Drawdown Comparison

The maximum YGOG.NEO drawdown since its inception was -33.45%, smaller than the maximum ZWU.TO drawdown of -37.41%. Use the drawdown chart below to compare losses from any high point for YGOG.NEO and ZWU.TO.

Drawdown Indicators

	YGOG.NEO	ZWU.TO	Difference
Max Drawdown Largest peak-to-trough decline	-33.45%	-37.41%	+3.96%
Max Drawdown (1Y) Largest decline over 1 year	-21.82%	-4.86%	-16.96%
Max Drawdown (3Y) Largest decline over 3 years	-33.45%	-12.85%	-20.60%
Max Drawdown (5Y) Largest decline over 5 years	—	-23.36%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-37.41%	—
Current Drawdown Current decline from peak	-11.86%	-2.31%	-9.55%
Average Drawdown Average peak-to-trough decline	-7.59%	-5.38%	-2.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.83%	1.73%	+4.10%

Volatility

YGOG.NEO vs. ZWU.TO - Volatility Comparison

Alphabet (GOOGL) Yield Shares Purpose ETF (YGOG.NEO) has a higher volatility of 11.10% compared to BMO Covered Call Utilities ETF (ZWU.TO) at 2.81%. This indicates that YGOG.NEO's price experiences larger fluctuations and is considered to be riskier than ZWU.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YGOG.NEO	ZWU.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.10%	2.81%	+8.29%
Volatility (6M) Calculated over the trailing 6-month period	22.75%	6.30%	+16.45%
Volatility (1Y) Calculated over the trailing 1-year period	32.02%	7.59%	+24.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.94%	10.47%	+22.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.94%	14.18%	+18.76%

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

YGOG.NEO has a 0.40% expense ratio, which is lower than ZWU.TO's 0.65% expense ratio.

Dividends

YGOG.NEO vs. ZWU.TO - Dividend Comparison

YGOG.NEO's dividend yield for the trailing twelve months is around 8.15%, more than ZWU.TO's 7.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%
ZWU.TO BMO Covered Call Utilities ETF	7.09%	7.59%	7.96%	8.54%	8.35%	7.43%	7.94%	6.29%	6.84%	6.46%	6.77%	7.57%

Frequently Asked Questions

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

YGOG.NEO and ZWU.TO have a correlation of -0.13, 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 ZWU.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 ZWU.TO?

YGOG.NEO is cheaper with a 0.40% expense ratio, compared with 0.65% for ZWU.TO.

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

YGOG.NEO is categorized as Derivative Income, while ZWU.TO is Utilities Equities. They also come from different issuers: Purpose and BMO. Their fees differ too: 0.40% for YGOG.NEO and 0.65% for ZWU.TO.