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ZWA.TO vs. RCDC.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZWA.TO vs. RCDC.TO

Last updated Jun 6, 2026

ZWA.TO (BMO Covered Call Dow Jones Industrial Average Hedged to CAD ETF) and RCDC.TO (RBC Canadian Dividend Covered Call ETF) are both Derivative Income funds. ZWA.TO is passively managed, while RCDC.TO is actively managed. ZWA.TO charges 0.65%/yr vs 0.64%/yr for RCDC.TO.

Performance

ZWA.TO vs. RCDC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Covered Call Dow Jones Industrial Average Hedged to CAD ETF (ZWA.TO) and RBC Canadian Dividend Covered Call ETF (RCDC.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

ZWA.TO

1D
-0.75%
1M
1.89%
YTD
3.75%
6M
4.08%
1Y
16.51%
3Y*
12.19%
5Y*
6.91%
10Y*
9.72%

RCDC.TO

1D
—
1M
—
YTD
—
6M
—
1Y
—
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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BMO Covered Call Dow Jones Industrial Average Hedged to CAD ETF

RBC Canadian Dividend Covered Call ETF

Often compared with ZWA.TO:
ZWA.TO vs. ENCL.TOZWA.TO vs. BKCL.TOZWA.TO vs. BANK.TOZWA.TO vs. EMAX.TOZWA.TO vs. CRCY.TOZWA.TO vs. CBNK.TOZWA.TO vs. ZWC.TO
Often compared with RCDC.TO:
RCDC.TO vs. RPF.TORCDC.TO vs. RCD.TORCDC.TO vs. RIDH.TORCDC.TO vs. RBNK.TORCDC.TO vs. CNQE.TORCDC.TO vs. BKCL.TORCDC.TO vs. RUD.TO

Return for Risk

ZWA.TO vs. RCDC.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZWA.TO
ZWA.TO Risk / Return Rank: 4444
Overall Rank
ZWA.TO Sharpe Ratio Rank: 4646
Sharpe Ratio Rank
ZWA.TO Sortino Ratio Rank: 4848
Sortino Ratio Rank
ZWA.TO Omega Ratio Rank: 4444
Omega Ratio Rank
ZWA.TO Calmar Ratio Rank: 3939
Calmar Ratio Rank
ZWA.TO Martin Ratio Rank: 4444
Martin Ratio Rank
RCDC.TO
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ZWA.TO vs. RCDC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Covered Call Dow Jones Industrial Average Hedged to CAD ETF (ZWA.TO) and RBC Canadian Dividend Covered Call ETF (RCDC.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.

ZWA.TORCDC.TODifference
Sharpe ratioReturn per unit of total volatility
1.44

—

—

Sortino ratioReturn per unit of downside risk
2.15

—

—

Omega ratioGain probability vs. loss probability

1.26

—

—

Calmar ratioReturn relative to maximum drawdown

1.75

—

—

Martin ratioReturn relative to average drawdown

6.60

—

—

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZWA.TO vs. RCDC.TO - Sharpe Ratio Comparison

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Sharpe Ratios by Period

ZWA.TORCDC.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.44

—

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.50

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.57

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.62

—

—

Drawdowns

ZWA.TO vs. RCDC.TO - Drawdown Comparison

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Drawdown Indicators

ZWA.TORCDC.TODifference

Max Drawdown

Largest peak-to-trough decline

-38.29%

—

—

Max Drawdown (1Y)

Largest decline over 1 year

-9.49%

—

—

Max Drawdown (3Y)

Largest decline over 3 years

-17.77%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-19.68%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-38.29%

—

—

Current Drawdown

Current decline from peak

-0.75%

—

—

Average Drawdown

Average peak-to-trough decline

-3.56%

—

—

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.51%

—

—

Volatility

ZWA.TO vs. RCDC.TO - Volatility Comparison

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Volatility by Period

ZWA.TORCDC.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.89%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

8.87%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

11.48%

—

—

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.98%

—

—

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.01%

—

—

ZWA.TO vs. RCDC.TO - Expense Ratio Comparison

ZWA.TO has a 0.65% expense ratio, which is higher than RCDC.TO's 0.64% expense ratio.

Dividends

ZWA.TO vs. RCDC.TO - Dividend Comparison

ZWA.TO's dividend yield for the trailing twelve months is around 5.65%, while RCDC.TO has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
RCDC.TO
RBC Canadian Dividend Covered Call ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
ZWA.TO
BMO Covered Call Dow Jones Industrial Average Hedged to CAD ETF		5.65%5.65%5.89%6.21%6.02%4.36%5.04%4.46%4.74%4.15%4.83%4.85%

Frequently Asked Questions

On fees, RCDC.TO is cheaper at 0.64% per year. The better choice depends on whether you care most about return, fees, risk, or income.

RCDC.TO is cheaper with a 0.64% expense ratio, compared with 0.65% for ZWA.TO.

They also come from different issuers: BMO Asset Management and RBC. Their fees differ too: 0.65% for ZWA.TO and 0.64% for RCDC.TO.

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