ZEB.TO vs. ZWB.TO
Compare and contrast key facts about BMO Equal Weight Banks Index ETF (ZEB.TO) and BMO Covered Call Canadian Banks ETF (ZWB.TO).
ZEB.TO and ZWB.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZEB.TO is a passively managed fund by BMO that tracks the performance of the Solactive Equal Weight Canada Banks Index. It was launched on Oct 19, 2009. ZWB.TO is an actively managed fund by BMO. It was launched on Jan 9, 2024.
Performance
ZEB.TO vs. ZWB.TO - Performance Comparison
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ZEB.TO vs. ZWB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZEB.TO BMO Equal Weight Banks Index ETF | 1.92% | 43.43% | 24.58% | 10.87% | -10.38% | 39.38% | 3.52% | 16.06% | -8.85% | 14.26% |
ZWB.TO BMO Covered Call Canadian Banks ETF | 1.45% | 34.91% | 19.41% | 6.67% | -11.00% | 30.81% | 1.68% | 14.32% | -8.08% | 11.52% |
Returns By Period
In the year-to-date period, ZEB.TO achieves a 1.92% return, which is significantly higher than ZWB.TO's 1.45% return. Over the past 10 years, ZEB.TO has outperformed ZWB.TO with an annualized return of 14.57%, while ZWB.TO has yielded a comparatively lower 11.23% annualized return.
ZEB.TO
- 1D
- 2.47%
- 1M
- -3.87%
- YTD
- 1.92%
- 6M
- 14.68%
- 1Y
- 52.04%
- 3Y*
- 25.62%
- 5Y*
- 16.79%
- 10Y*
- 14.57%
ZWB.TO
- 1D
- 2.55%
- 1M
- -3.53%
- YTD
- 1.45%
- 6M
- 13.31%
- 1Y
- 42.34%
- 3Y*
- 19.89%
- 5Y*
- 12.56%
- 10Y*
- 11.23%
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ZEB.TO vs. ZWB.TO - Expense Ratio Comparison
ZEB.TO has a 0.25% expense ratio, which is lower than ZWB.TO's 0.71% expense ratio.
Return for Risk
ZEB.TO vs. ZWB.TO — Risk / Return Rank
ZEB.TO
ZWB.TO
ZEB.TO vs. ZWB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Equal Weight Banks Index ETF (ZEB.TO) and BMO Covered Call Canadian Banks ETF (ZWB.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.
| ZEB.TO | ZWB.TO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.92 | 3.44 | +0.48 |
Sortino ratioReturn per unit of downside risk | 5.01 | 4.46 | +0.56 |
Omega ratioGain probability vs. loss probability | 1.77 | 1.70 | +0.07 |
Calmar ratioReturn relative to maximum drawdown | 6.25 | 5.30 | +0.96 |
Martin ratioReturn relative to average drawdown | 24.31 | 21.45 | +2.87 |
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
| ZEB.TO | ZWB.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.92 | 3.44 | +0.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.28 | 1.02 | +0.26 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.87 | 0.72 | +0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.82 | 0.68 | +0.14 |
Correlation
The correlation between ZEB.TO and ZWB.TO is 0.97, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
ZEB.TO vs. ZWB.TO - Dividend Comparison
ZEB.TO's dividend yield for the trailing twelve months is around 2.95%, less than ZWB.TO's 5.49% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ZEB.TO BMO Equal Weight Banks Index ETF | 2.95% | 2.95% | 3.98% | 4.75% | 4.29% | 3.13% | 4.15% | 3.65% | 3.64% | 3.02% | 3.19% | 3.70% |
ZWB.TO BMO Covered Call Canadian Banks ETF | 5.49% | 5.38% | 6.66% | 7.62% | 7.30% | 5.46% | 5.80% | 5.53% | 5.59% | 4.80% | 5.04% | 5.64% |
Drawdowns
ZEB.TO vs. ZWB.TO - Drawdown Comparison
The maximum ZEB.TO drawdown since its inception was -39.69%, roughly equal to the maximum ZWB.TO drawdown of -39.36%. Use the drawdown chart below to compare losses from any high point for ZEB.TO and ZWB.TO.
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Drawdown Indicators
| ZEB.TO | ZWB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.69% | -39.36% | -0.33% |
Max Drawdown (1Y)Largest decline over 1 year | -8.44% | -8.10% | -0.34% |
Max Drawdown (5Y)Largest decline over 5 years | -25.97% | -25.26% | -0.71% |
Max Drawdown (10Y)Largest decline over 10 years | -39.69% | -39.36% | -0.33% |
Current DrawdownCurrent decline from peak | -5.86% | -5.09% | -0.77% |
Average DrawdownAverage peak-to-trough decline | -5.70% | -5.61% | -0.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.17% | 2.00% | +0.17% |
Volatility
ZEB.TO vs. ZWB.TO - Volatility Comparison
BMO Equal Weight Banks Index ETF (ZEB.TO) and BMO Covered Call Canadian Banks ETF (ZWB.TO) have volatilities of 5.82% and 5.80%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZEB.TO | ZWB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.82% | 5.80% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 9.97% | 9.17% | +0.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.34% | 12.37% | +0.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.24% | 12.43% | +0.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.82% | 15.62% | +1.20% |