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ZWB.TO vs. CBNK
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZWB.TO vs. CBNK

Last updated Aug 2, 2026
Documentation

ZWB.TO (BMO Covered Call Canadian Banks ETF) is Financials Equities fund actively managed by BMO, while CBNK (Capital Bancorp, Inc.) is a stock. Over the past 5 years, ZWB.TO returned 16.24%/yr vs 14.53%/yr for CBNK. Their 0.37 correlation means their historical movements had little consistent relationship.

Performance

ZWB.TO vs. CBNK - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Covered Call Canadian Banks ETF (ZWB.TO) and Capital Bancorp, Inc. (CBNK). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

ZWB.TO is traded in CAD, while CBNK is traded in USD. To make them comparable, the CBNK values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ZWB.TO achieves a 28.37% return, which is significantly lower than CBNK's 36.60% return.

ZWB.TO

1D
0.13%
1M
1.47%
6M
29.04%
YTD
28.37%
1Y
58.77%
3Y*
28.21%
5Y*
16.24%
10Y*
13.33%
ALL TIME*
11.40%

CBNK

1D
0.63%
1M
3.57%
6M
27.14%
YTD
36.60%
1Y
24.03%
3Y*
27.53%
5Y*
14.53%
10Y*
—
ALL TIME*
16.51%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

CBNK

Capital Bancorp, Inc.
CA$3.01MCA$2.85MCA$3.12M

ZWB.TO

BMO Covered Call Canadian Banks ETF
CA$7.91MCA$6.27MCA$4.78M

ZWB.TO vs. CBNK - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
ZWB.TO
BMO Covered Call Canadian Banks ETF		28.37%34.91%19.41%6.67%-11.00%30.81%1.68%14.32%-12.72%
CBNK
Capital Bancorp, Inc.		36.60%-4.31%29.79%1.83%-3.57%88.75%-8.67%25.12%-7.73%

Correlation

The correlation between ZWB.TO and CBNK is 0.29, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.29

Correlation (3Y)
Balances recent behavior with more history.

0.36

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.38

Correlation (All Time)
Calculated using the full available price history since Sep 26, 2018

0.37

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

BMO Covered Call Canadian Banks ETF

Capital Bancorp, Inc.

Often compared with ZWB.TO:
ZWB.TO vs. ZEB.TOZWB.TO vs. ZWC.TOZWB.TO vs. VDY.TOZWB.TO vs. VFV.TOZWB.TO vs. XDIV.TOZWB.TO vs. RBNK.TOZWB.TO vs. SRU-UN.TO
Often compared with CBNK:
CBNK vs. XDIV.TOCBNK vs. SMTICBNK vs. THCBNK vs. SPYCBNK vs. VGTCBNK vs. STGWCBNK vs. BANK.TO

Return for Risk

ZWB.TO vs. CBNK — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
ZWB.TO
ZWB.TO Risk / Return Rank: 9797
Overall Rank
ZWB.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
ZWB.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
ZWB.TO Omega Ratio Rank: 9797
Omega Ratio Rank
ZWB.TO Calmar Ratio Rank: 9797
Calmar Ratio Rank
ZWB.TO Martin Ratio Rank: 9797
Martin Ratio Rank
CBNK
CBNK Risk / Return Rank: 6666
Overall Rank
CBNK Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
CBNK Sortino Ratio Rank: 6666
Sortino Ratio Rank
CBNK Omega Ratio Rank: 6565
Omega Ratio Rank
CBNK Calmar Ratio Rank: 6464
Calmar Ratio Rank
CBNK Martin Ratio Rank: 6262
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ZWB.TO vs. CBNK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Covered Call Canadian Banks ETF (ZWB.TO) and Capital Bancorp, Inc. (CBNK). 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.

ZWB.TOCBNKDifference
Sharpe ratioReturn per unit of total volatility
4.51
0.87

+3.64

Sortino ratioReturn per unit of downside risk
5.74
1.34

+4.40

Omega ratioGain probability vs. loss probability

1.81

1.17

+0.64

Calmar ratioReturn relative to maximum drawdown

7.42

1.00

+6.43

Martin ratioReturn relative to average drawdown

31.64

1.87

+29.77

ZWB.TO vs. CBNK - Sharpe Ratio Comparison

The current ZWB.TO Sharpe Ratio is 4.51, which is higher than the CBNK Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of ZWB.TO and CBNK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

ZWB.TO vs. CBNK - Drawdown Comparison

The maximum ZWB.TO drawdown since its inception was -39.36%, smaller than the maximum CBNK drawdown of -51.93%. Use the drawdown chart below to compare losses from any high point for ZWB.TO and CBNK.

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Drawdown Indicators

ZWB.TOCBNKDifference

Max Drawdown

Largest peak-to-trough decline

-39.36%

-51.93%

+12.57%

Max Drawdown (1Y)

Largest decline over 1 year

-7.82%

-22.18%

+14.36%

Max Drawdown (3Y)

Largest decline over 3 years

-12.65%

-23.16%

+10.51%

Max Drawdown (5Y)

Largest decline over 5 years

-25.26%

-40.19%

+14.93%

Max Drawdown (10Y)

Largest decline over 10 years

-39.36%

—

—

Current Drawdown

Current decline from peak

-2.72%

-1.99%

-0.73%

Average Drawdown

Average peak-to-trough decline

-5.51%

-13.31%

+7.80%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.83%

11.85%

-10.02%

Volatility

ZWB.TO vs. CBNK - Volatility Comparison

The current volatility for BMO Covered Call Canadian Banks ETF (ZWB.TO) is 5.89%, while Capital Bancorp, Inc. (CBNK) has a volatility of 7.23%. This indicates that ZWB.TO experiences smaller price fluctuations and is considered to be less risky than CBNK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ZWB.TOCBNKDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.89%

7.23%

-1.34%

Volatility (6M)

Calculated over the trailing 6-month period

11.25%

18.39%

-7.14%

Volatility (1Y)

Calculated over the trailing 1-year period

12.90%

25.51%

-12.61%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.83%

28.26%

-15.43%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.75%

47.40%

-31.65%

Dividends

ZWB.TO vs. CBNK - Dividend Comparison

ZWB.TO's dividend yield for the trailing twelve months is around 4.91%, more than CBNK's 1.29% yield.

PositionTTM20252024202320222021202020192018201720162015
CBNK
Capital Bancorp, Inc.		1.29%1.56%1.26%1.16%0.93%0.38%0.00%0.00%0.00%0.00%0.00%0.00%
ZWB.TO
BMO Covered Call Canadian Banks ETF		4.91%5.38%6.66%7.62%7.30%5.46%5.80%5.53%5.59%4.80%5.04%5.64%

Frequently Asked Questions

ZWB.TO and CBNK have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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