ZUD.TO vs. CWIN.TO
ZUD.TO (BMO US Dividend Hedged to CAD ETF) and CWIN.TO (HAMILTON CHAMPIONS Enhanced Canadian Dividend ETF Class E Units) are both Dividend funds. Over the past year, ZUD.TO returned 21.33% vs 40.28% for CWIN.TO. At a 0.42 correlation, their price movements are largely independent. ZUD.TO charges 0.30%/yr vs 0.65%/yr for CWIN.TO.
Performance
ZUD.TO vs. CWIN.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZUD.TO achieves a 14.29% return, which is significantly lower than CWIN.TO's 20.39% return.
ZUD.TO
- 1D
- 0.18%
- 1M
- -0.75%
- YTD
- 14.29%
- 6M
- 13.68%
- 1Y
- 21.33%
- 3Y*
- 15.49%
- 5Y*
- 10.22%
- 10Y*
- 9.32%
CWIN.TO
- 1D
- -0.61%
- 1M
- 5.84%
- YTD
- 20.39%
- 6M
- 19.94%
- 1Y
- 40.28%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZUD.TO vs. CWIN.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ZUD.TO BMO US Dividend Hedged to CAD ETF | 14.29% | 8.23% |
CWIN.TO HAMILTON CHAMPIONS Enhanced Canadian Dividend ETF Class E Units | 20.39% | 24.29% |
Correlation
The correlation between ZUD.TO and CWIN.TO is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Jan 28, 2025 | 0.42 |
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Return for Risk
ZUD.TO vs. CWIN.TO — Risk / Return Rank
ZUD.TO
CWIN.TO
ZUD.TO vs. CWIN.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO US Dividend Hedged to CAD ETF (ZUD.TO) and HAMILTON CHAMPIONS Enhanced Canadian Dividend ETF Class E Units (CWIN.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.
| ZUD.TO | CWIN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.37 | ||
| Sortino ratioReturn per unit of downside risk | -1.68 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.62 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 3.78 | 5.66 | -1.88 |
| Martin ratioReturn relative to average drawdown | 12.14 | 20.94 | -8.79 |
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Drawdowns
ZUD.TO vs. CWIN.TO - Drawdown Comparison
The maximum ZUD.TO drawdown since its inception was -40.60%, which is greater than CWIN.TO's maximum drawdown of -10.87%. Use the drawdown chart below to compare losses from any high point for ZUD.TO and CWIN.TO.
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Drawdown Indicators
| ZUD.TO | CWIN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.60% | -10.87% | -29.73% |
Max Drawdown (1Y)Largest decline over 1 year | -5.67% | -7.15% | +1.48% |
Max Drawdown (3Y)Largest decline over 3 years | -14.94% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -17.65% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -40.60% | — | — |
Current DrawdownCurrent decline from peak | -1.23% | -0.61% | -0.62% |
Average DrawdownAverage peak-to-trough decline | -4.08% | -1.37% | -2.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.76% | 1.93% | -0.17% |
Volatility
ZUD.TO vs. CWIN.TO - Volatility Comparison
The current volatility for BMO US Dividend Hedged to CAD ETF (ZUD.TO) is 3.42%, while HAMILTON CHAMPIONS Enhanced Canadian Dividend ETF Class E Units (CWIN.TO) has a volatility of 3.89%. This indicates that ZUD.TO experiences smaller price fluctuations and is considered to be less risky than CWIN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZUD.TO | CWIN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.42% | 3.89% | -0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 7.74% | 10.03% | -2.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.46% | 12.45% | -0.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.24% | 13.86% | +1.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.99% | 13.86% | +3.13% |
ZUD.TO vs. CWIN.TO - Expense Ratio Comparison
ZUD.TO has a 0.30% expense ratio, which is lower than CWIN.TO's 0.65% expense ratio.
Dividends
ZUD.TO vs. CWIN.TO - Dividend Comparison
ZUD.TO's dividend yield for the trailing twelve months is around 1.47%, less than CWIN.TO's 2.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CWIN.TO HAMILTON CHAMPIONS Enhanced Canadian Dividend ETF Class E Units | 2.82% | 3.21% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZUD.TO BMO US Dividend Hedged to CAD ETF | 1.47% | 1.68% | 2.17% | 2.54% | 2.77% | 2.50% | 3.76% | 3.13% | 3.11% | 2.69% | 2.61% | 2.97% |
Frequently Asked Questions
ZUD.TO and CWIN.TO have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZUD.TO is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZUD.TO is cheaper with a 0.30% expense ratio, compared with 0.65% for CWIN.TO.
They also come from different issuers: BMO and Hamilton. Their fees differ too: 0.30% for ZUD.TO and 0.65% for CWIN.TO.
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