ZMMK.TO vs. ZWEN.TO
ZMMK.TO (BMO Money Market Fund ETF Series) and ZWEN.TO (BMO Covered Call Energy ETF) are both exchange-traded funds - ZMMK.TO is a Money Market fund actively managed by BMO, while ZWEN.TO is a Energy Equities fund actively managed by BMO. Both are actively managed. Over the past 3 years, ZMMK.TO returned 3.75%/yr vs 18.97%/yr for ZWEN.TO. At a correlation of -0.01, they often move in opposite directions. ZMMK.TO charges 0.13%/yr vs 0.88%/yr for ZWEN.TO.
Performance
ZMMK.TO vs. ZWEN.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZMMK.TO achieves a 1.25% return, which is significantly lower than ZWEN.TO's 31.07% return.
ZMMK.TO
- 1D
- 0.00%
- 1M
- 0.20%
- 6M
- 1.15%
- YTD
- 1.25%
- 1Y
- 2.45%
- 3Y*
- 3.75%
- 5Y*
- —
- 10Y*
- —
ZWEN.TO
- 1D
- 0.35%
- 1M
- 5.89%
- 6M
- 24.04%
- YTD
- 31.07%
- 1Y
- 38.09%
- 3Y*
- 18.97%
- 5Y*
- —
- 10Y*
- —
ZMMK.TO vs. ZWEN.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ZMMK.TO BMO Money Market Fund ETF Series | 1.25% | 2.77% | 4.94% | 4.59% |
ZWEN.TO BMO Covered Call Energy ETF | 31.07% | 6.74% | 10.43% | 1.13% |
Correlation
The correlation between ZMMK.TO and ZWEN.TO is -0.05, 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 | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Jan 26, 2023 | -0.01 |
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Return for Risk
ZMMK.TO vs. ZWEN.TO — Risk / Return Rank
ZMMK.TO
ZWEN.TO
ZMMK.TO vs. ZWEN.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Money Market Fund ETF Series (ZMMK.TO) and BMO Covered Call Energy ETF (ZWEN.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ZMMK.TO | ZWEN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +6.77 | ||
| Sortino ratioReturn per unit of downside risk | +19.19 | ||
| Omega ratioGain probability vs. loss probability | 5.32 | 1.37 | +3.94 |
| Calmar ratioReturn relative to maximum drawdown | 61.40 | 4.07 | +57.33 |
| Martin ratioReturn relative to average drawdown | 349.38 | 11.24 | +338.14 |
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Drawdowns
ZMMK.TO vs. ZWEN.TO - Drawdown Comparison
The maximum ZMMK.TO drawdown since its inception was -0.16%, smaller than the maximum ZWEN.TO drawdown of -18.75%. Use the drawdown chart below to compare losses from any high point for ZMMK.TO and ZWEN.TO.
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Drawdown Indicators
| ZMMK.TO | ZWEN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.16% | -18.75% | +18.59% |
Max Drawdown (1Y)Largest decline over 1 year | -0.04% | -9.50% | +9.46% |
Max Drawdown (3Y)Largest decline over 3 years | -0.08% | -18.75% | +18.67% |
Current DrawdownCurrent decline from peak | 0.00% | -1.55% | +1.55% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -4.49% | +4.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 3.42% | -3.41% |
Volatility
ZMMK.TO vs. ZWEN.TO - Volatility Comparison
The current volatility for BMO Money Market Fund ETF Series (ZMMK.TO) is 0.06%, while BMO Covered Call Energy ETF (ZWEN.TO) has a volatility of 4.99%. This indicates that ZMMK.TO experiences smaller price fluctuations and is considered to be less risky than ZWEN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZMMK.TO | ZWEN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.06% | 4.99% | -4.93% |
Volatility (6M)Calculated over the trailing 6-month period | 0.17% | 13.82% | -13.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.27% | 17.16% | -16.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.34% | 18.31% | -17.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.34% | 18.31% | -17.97% |
ZMMK.TO vs. ZWEN.TO - Expense Ratio Comparison
ZMMK.TO has a 0.13% expense ratio, which is lower than ZWEN.TO's 0.88% expense ratio.
Dividends
ZMMK.TO vs. ZWEN.TO - Dividend Comparison
ZMMK.TO's dividend yield for the trailing twelve months is around 2.46%, less than ZWEN.TO's 7.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
ZMMK.TO BMO Money Market Fund ETF Series | 2.46% | 3.02% | 4.66% | 4.98% | 1.95% | 0.04% |
ZWEN.TO BMO Covered Call Energy ETF | 7.57% | 9.53% | 9.09% | 6.78% | 0.00% | 0.00% |
Frequently Asked Questions
ZMMK.TO and ZWEN.TO have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZMMK.TO is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZMMK.TO is cheaper with a 0.13% expense ratio, compared with 0.88% for ZWEN.TO.
ZMMK.TO is categorized as Money Market, while ZWEN.TO is Energy Equities. Their fees differ too: 0.13% for ZMMK.TO and 0.88% for ZWEN.TO.
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