ZSP-U.TO vs. USCL.TO
Compare and contrast key facts about BMO S&P 500 Index ETF (USD) (ZSP-U.TO) and Global X Enhanced S&P 500 Covered Call ETF (USCL.TO).
ZSP-U.TO and USCL.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZSP-U.TO is a passively managed fund by BMO that tracks the performance of the S&P 500 Index. It was launched on Nov 14, 2012. USCL.TO is an actively managed fund by Global X. It was launched on Jul 5, 2023.
Performance
ZSP-U.TO vs. USCL.TO - Performance Comparison
Loading graphics...
ZSP-U.TO vs. USCL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ZSP-U.TO BMO S&P 500 Index ETF (USD) | -4.68% | 16.84% | 23.97% | 8.66% |
USCL.TO Global X Enhanced S&P 500 Covered Call ETF | -3.54% | 15.30% | 27.60% | 5.22% |
Different Trading Currencies
ZSP-U.TO is traded in USD, while USCL.TO is traded in CAD. To make them comparable, the USCL.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, ZSP-U.TO achieves a -4.68% return, which is significantly lower than USCL.TO's -3.54% return.
ZSP-U.TO
- 1D
- 2.85%
- 1M
- -5.28%
- YTD
- -4.68%
- 6M
- -2.37%
- 1Y
- 16.49%
- 3Y*
- 17.31%
- 5Y*
- 10.97%
- 10Y*
- 13.22%
USCL.TO
- 1D
- 0.00%
- 1M
- -5.10%
- YTD
- -3.54%
- 6M
- -0.55%
- 1Y
- 16.17%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
ZSP-U.TO vs. USCL.TO - Expense Ratio Comparison
ZSP-U.TO has a 0.09% expense ratio, which is higher than USCL.TO's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
ZSP-U.TO vs. USCL.TO — Risk / Return Rank
ZSP-U.TO
USCL.TO
ZSP-U.TO vs. USCL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO S&P 500 Index ETF (USD) (ZSP-U.TO) and Global X Enhanced S&P 500 Covered Call ETF (USCL.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.
| ZSP-U.TO | USCL.TO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.92 | 0.80 | +0.12 |
Sortino ratioReturn per unit of downside risk | 1.40 | 1.29 | +0.11 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.22 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 1.42 | 1.11 | +0.31 |
Martin ratioReturn relative to average drawdown | 6.68 | 5.72 | +0.96 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| ZSP-U.TO | USCL.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.92 | 0.80 | +0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.66 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.78 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.85 | 1.00 | -0.14 |
Correlation
The correlation between ZSP-U.TO and USCL.TO is 0.92, 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
ZSP-U.TO vs. USCL.TO - Dividend Comparison
ZSP-U.TO has not paid dividends to shareholders, while USCL.TO's dividend yield for the trailing twelve months is around 13.40%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ZSP-U.TO BMO S&P 500 Index ETF (USD) | 0.00% | 0.14% | 0.71% | 0.98% | 1.13% | 0.91% | 1.02% | 1.07% | 1.26% | 1.22% | 1.43% | 1.29% |
USCL.TO Global X Enhanced S&P 500 Covered Call ETF | 13.40% | 12.94% | 11.57% | 7.08% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
ZSP-U.TO vs. USCL.TO - Drawdown Comparison
The maximum ZSP-U.TO drawdown since its inception was -33.72%, which is greater than USCL.TO's maximum drawdown of -21.35%. Use the drawdown chart below to compare losses from any high point for ZSP-U.TO and USCL.TO.
Loading graphics...
Drawdown Indicators
| ZSP-U.TO | USCL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.72% | -21.85% | -11.87% |
Max Drawdown (1Y)Largest decline over 1 year | -12.08% | -14.94% | +2.86% |
Max Drawdown (5Y)Largest decline over 5 years | -24.88% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -33.72% | — | — |
Current DrawdownCurrent decline from peak | -6.59% | -5.01% | -1.58% |
Average DrawdownAverage peak-to-trough decline | -3.99% | -2.66% | -1.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.56% | 3.62% | -1.06% |
Volatility
ZSP-U.TO vs. USCL.TO - Volatility Comparison
The current volatility for BMO S&P 500 Index ETF (USD) (ZSP-U.TO) is 5.32%, while Global X Enhanced S&P 500 Covered Call ETF (USCL.TO) has a volatility of 6.28%. This indicates that ZSP-U.TO experiences smaller price fluctuations and is considered to be less risky than USCL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| ZSP-U.TO | USCL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.32% | 6.28% | -0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 9.50% | 9.82% | -0.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.03% | 20.27% | -2.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.81% | 15.92% | +0.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.77% | 15.92% | +1.85% |