ZWB.TO vs. IAU.TO
ZWB.TO (BMO Covered Call Canadian Banks ETF) is Financials Equities fund actively managed by BMO, while IAU.TO (i-80 Gold Corp) is a stock. Over the past 5 years, ZWB.TO returned 13.82%/yr vs -4.15%/yr for IAU.TO. At a 0.16 correlation, their price movements are largely independent.
Performance
ZWB.TO vs. IAU.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZWB.TO achieves a 16.23% return, which is significantly higher than IAU.TO's 4.95% return.
ZWB.TO
- 1D
- -0.31%
- 1M
- 5.06%
- YTD
- 16.23%
- 6M
- 21.03%
- 1Y
- 49.97%
- 3Y*
- 25.69%
- 5Y*
- 13.82%
- 10Y*
- 12.24%
IAU.TO
- 1D
- -5.36%
- 1M
- 4.43%
- YTD
- 4.95%
- 6M
- 25.44%
- 1Y
- 178.95%
- 3Y*
- -11.03%
- 5Y*
- -4.15%
- 10Y*
- —
ZWB.TO vs. IAU.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ZWB.TO BMO Covered Call Canadian Banks ETF | 16.23% | 34.91% | 19.41% | 6.67% | -11.00% | 15.62% |
IAU.TO i-80 Gold Corp | 4.95% | 192.75% | -70.39% | -38.36% | 22.33% | -35.63% |
Correlation
The correlation between ZWB.TO and IAU.TO is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Apr 14, 2021 | 0.16 |
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Return for Risk
ZWB.TO vs. IAU.TO — Risk / Return Rank
ZWB.TO
IAU.TO
ZWB.TO vs. IAU.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Covered Call Canadian Banks ETF (ZWB.TO) and i-80 Gold Corp (IAU.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.
| ZWB.TO | IAU.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.62 | ||
| Sortino ratioReturn per unit of downside risk | +3.21 | ||
| Omega ratioGain probability vs. loss probability | 1.86 | 1.38 | +0.48 |
| Calmar ratioReturn relative to maximum drawdown | 6.42 | 4.71 | +1.71 |
| Martin ratioReturn relative to average drawdown | 28.83 | 12.21 | +16.62 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ZWB.TO | IAU.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.44 | 2.82 | +1.62 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.10 | -0.06 | +1.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.78 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.74 | -0.21 | +0.95 |
Drawdowns
ZWB.TO vs. IAU.TO - Drawdown Comparison
The maximum ZWB.TO drawdown since its inception was -39.36%, smaller than the maximum IAU.TO drawdown of -91.25%. Use the drawdown chart below to compare losses from any high point for ZWB.TO and IAU.TO.
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Drawdown Indicators
| ZWB.TO | IAU.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.36% | -91.25% | +51.89% |
Max Drawdown (1Y)Largest decline over 1 year | -7.82% | -38.25% | +30.43% |
Max Drawdown (3Y)Largest decline over 3 years | -14.05% | -84.09% | +70.04% |
Max Drawdown (5Y)Largest decline over 5 years | -25.26% | -87.90% | +62.64% |
Max Drawdown (10Y)Largest decline over 10 years | -39.36% | — | — |
Current DrawdownCurrent decline from peak | -1.85% | -62.14% | +60.29% |
Average DrawdownAverage peak-to-trough decline | -5.56% | -59.76% | +54.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.74% | 14.72% | -12.98% |
Volatility
ZWB.TO vs. IAU.TO - Volatility Comparison
The current volatility for BMO Covered Call Canadian Banks ETF (ZWB.TO) is 4.26%, while i-80 Gold Corp (IAU.TO) has a volatility of 16.43%. This indicates that ZWB.TO experiences smaller price fluctuations and is considered to be less risky than IAU.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZWB.TO | IAU.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.26% | 16.43% | -12.17% |
Volatility (6M)Calculated over the trailing 6-month period | 10.03% | 45.65% | -35.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.31% | 63.79% | -52.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.63% | 67.46% | -54.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.68% | 70.57% | -54.89% |
Dividends
ZWB.TO vs. IAU.TO - Dividend Comparison
ZWB.TO's dividend yield for the trailing twelve months is around 5.02%, while IAU.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAU.TO i-80 Gold Corp | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZWB.TO BMO Covered Call Canadian Banks ETF | 5.02% | 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 IAU.TO have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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