ZWB.TO vs. FALN
Compare and contrast key facts about BMO Covered Call Canadian Banks ETF (ZWB.TO) and iShares Fallen Angels USD Bond ETF (FALN).
ZWB.TO and FALN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZWB.TO is an actively managed fund by BMO. It was launched on Jan 9, 2024. FALN is a passively managed fund by iShares that tracks the performance of the Bloomberg US High Yield Fallen Angel 3% Capped Index. It was launched on Jun 14, 2016.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ZWB.TO or FALN.
Key characteristics
| ZWB.TO | FALN | |
|---|---|---|
| YTD Return | 17.57% | 8.36% |
| 1Y Return | 30.90% | 14.77% |
| 3Y Return (Ann) | 4.05% | 1.96% |
| 5Y Return (Ann) | 7.81% | 5.68% |
| Sharpe Ratio | 3.40 | 3.15 |
| Sortino Ratio | 4.76 | 4.88 |
| Omega Ratio | 1.67 | 1.63 |
| Calmar Ratio | 1.50 | 1.83 |
| Martin Ratio | 17.43 | 22.33 |
| Ulcer Index | 1.80% | 0.69% |
| Daily Std Dev | 9.24% | 4.88% |
| Max Drawdown | -39.36% | -29.22% |
| Current Drawdown | 0.00% | -0.11% |
Correlation
The correlation between ZWB.TO and FALN is 0.46, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
ZWB.TO vs. FALN - Performance Comparison
In the year-to-date period, ZWB.TO achieves a 17.57% return, which is significantly higher than FALN's 8.36% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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ZWB.TO vs. FALN - Expense Ratio Comparison
ZWB.TO has a 0.71% expense ratio, which is higher than FALN's 0.25% expense ratio.
Risk-Adjusted Performance
ZWB.TO vs. FALN - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Covered Call Canadian Banks ETF (ZWB.TO) and iShares Fallen Angels USD Bond ETF (FALN). 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.
Dividends
ZWB.TO vs. FALN - Dividend Comparison
ZWB.TO's dividend yield for the trailing twelve months is around 6.69%, more than FALN's 6.06% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ZWB.TO BMO Covered Call Canadian Banks ETF | 6.69% | 7.62% | 7.30% | 5.46% | 5.80% | 5.53% | 5.59% | 4.80% | 5.04% | 5.64% | 4.77% | 5.23% |
FALN iShares Fallen Angels USD Bond ETF | 6.06% | 5.38% | 5.08% | 3.39% | 5.14% | 5.35% | 5.97% | 6.99% | 3.54% | 0.00% | 0.00% | 0.00% |
Drawdowns
ZWB.TO vs. FALN - Drawdown Comparison
The maximum ZWB.TO drawdown since its inception was -39.36%, which is greater than FALN's maximum drawdown of -29.22%. Use the drawdown chart below to compare losses from any high point for ZWB.TO and FALN. For additional features, visit the drawdowns tool.
Volatility
ZWB.TO vs. FALN - Volatility Comparison
BMO Covered Call Canadian Banks ETF (ZWB.TO) has a higher volatility of 2.27% compared to iShares Fallen Angels USD Bond ETF (FALN) at 1.36%. This indicates that ZWB.TO's price experiences larger fluctuations and is considered to be riskier than FALN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.