ZNQ.TO vs. ZWT.TO
ZNQ.TO (BMO NASDAQ 100 Equity Index ETF) and ZWT.TO (BMO Covered Call Technology ETF) are both exchange-traded funds - ZNQ.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while ZWT.TO is a Technology Equities fund actively managed by BMO. ZNQ.TO is passively managed, while ZWT.TO is actively managed. Over the past 5 years, ZNQ.TO returned 20.92%/yr vs 23.64%/yr for ZWT.TO. Their correlation of 0.90 suggests significant overlap in exposure. ZNQ.TO charges 0.39%/yr vs 0.71%/yr for ZWT.TO.
Performance
ZNQ.TO vs. ZWT.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZNQ.TO achieves a 22.76% return, which is significantly higher than ZWT.TO's 20.37% return.
ZNQ.TO
- 1D
- 0.25%
- 1M
- 13.05%
- YTD
- 22.76%
- 6M
- 18.72%
- 1Y
- 42.93%
- 3Y*
- 29.76%
- 5Y*
- 20.92%
- 10Y*
- —
ZWT.TO
- 1D
- -0.06%
- 1M
- 12.28%
- YTD
- 20.37%
- 6M
- 17.59%
- 1Y
- 47.17%
- 3Y*
- 36.02%
- 5Y*
- 23.64%
- 10Y*
- —
ZNQ.TO vs. ZWT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ZNQ.TO BMO NASDAQ 100 Equity Index ETF | 22.76% | 14.60% | 35.84% | 51.32% | -28.06% | 20.74% |
ZWT.TO BMO Covered Call Technology ETF | 20.37% | 18.15% | 49.78% | 65.75% | -31.60% | 22.78% |
Correlation
The correlation between ZNQ.TO and ZWT.TO is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2021 | 0.90 |
The correlation between ZNQ.TO and ZWT.TO has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.
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Return for Risk
ZNQ.TO vs. ZWT.TO — Risk / Return Rank
ZNQ.TO
ZWT.TO
ZNQ.TO vs. ZWT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO NASDAQ 100 Equity Index ETF (ZNQ.TO) and BMO Covered Call Technology ETF (ZWT.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.
| ZNQ.TO | ZWT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.45 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.45 | 2.98 | +0.47 |
| Martin ratioReturn relative to average drawdown | 10.86 | 9.56 | +1.30 |
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
| ZNQ.TO | ZWT.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.75 | 2.66 | +0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.01 | 1.02 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.06 | 0.99 | +0.07 |
Drawdowns
ZNQ.TO vs. ZWT.TO - Drawdown Comparison
The maximum ZNQ.TO drawdown since its inception was -32.09%, smaller than the maximum ZWT.TO drawdown of -35.84%. Use the drawdown chart below to compare losses from any high point for ZNQ.TO and ZWT.TO.
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Drawdown Indicators
| ZNQ.TO | ZWT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.09% | -35.84% | +3.75% |
Max Drawdown (1Y)Largest decline over 1 year | -12.50% | -15.93% | +3.43% |
Max Drawdown (3Y)Largest decline over 3 years | -22.67% | -26.27% | +3.60% |
Max Drawdown (5Y)Largest decline over 5 years | -32.09% | -35.84% | +3.75% |
Current DrawdownCurrent decline from peak | 0.00% | -0.06% | +0.06% |
Average DrawdownAverage peak-to-trough decline | -6.63% | -8.84% | +2.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.96% | 4.95% | -0.99% |
Volatility
ZNQ.TO vs. ZWT.TO - Volatility Comparison
BMO NASDAQ 100 Equity Index ETF (ZNQ.TO) has a higher volatility of 4.49% compared to BMO Covered Call Technology ETF (ZWT.TO) at 4.19%. This indicates that ZNQ.TO's price experiences larger fluctuations and is considered to be riskier than ZWT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZNQ.TO | ZWT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.49% | 4.19% | +0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 11.99% | 13.67% | -1.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.69% | 17.81% | -2.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.81% | 23.23% | -2.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.34% | 22.98% | -0.64% |
ZNQ.TO vs. ZWT.TO - Expense Ratio Comparison
ZNQ.TO has a 0.39% expense ratio, which is lower than ZWT.TO's 0.71% expense ratio.
Dividends
ZNQ.TO vs. ZWT.TO - Dividend Comparison
ZNQ.TO's dividend yield for the trailing twelve months is around 0.20%, less than ZWT.TO's 4.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
ZNQ.TO BMO NASDAQ 100 Equity Index ETF | 0.20% | 0.25% | 0.30% | 0.35% | 0.23% | 0.12% | 0.47% | 0.52% |
ZWT.TO BMO Covered Call Technology ETF | 4.22% | 4.46% | 3.34% | 3.83% | 6.54% | 4.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.91, ZNQ.TO and ZWT.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, ZNQ.TO is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZNQ.TO is cheaper with a 0.39% expense ratio, compared with 0.71% for ZWT.TO.
ZNQ.TO is categorized as Nasdaq-100, while ZWT.TO is Technology Equities. Their fees differ too: 0.39% for ZNQ.TO and 0.71% for ZWT.TO.
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