ZWE.TO vs. IDV

Last updated Apr 1, 2026

Compare and contrast key facts about BMO Europe High Dividend Covered Call Hedged to CAD ETF (ZWE.TO) and iShares International Select Dividend ETF (IDV).

ZWE.TO and IDV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZWE.TO is an actively managed fund by BMO. It was launched on Sep 2, 2015. IDV is a passively managed fund by iShares that tracks the performance of the Dow Jones EPAC Select Dividend. It was launched on Jun 11, 2007.

Performance

ZWE.TO vs. IDV - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Europe High Dividend Covered Call Hedged to CAD ETF (ZWE.TO) and iShares International Select Dividend ETF (IDV). The values are adjusted to include any dividend payments, if applicable.

ZWE.TO vs. IDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ZWE.TO BMO Europe High Dividend Covered Call Hedged to CAD ETF	-0.59%	14.25%	7.16%	14.84%	0.29%	19.26%	-8.67%	22.06%	-10.78%	11.22%
IDV iShares International Select Dividend ETF	9.86%	45.18%	12.93%	7.89%	0.27%	10.99%	-7.53%	17.48%	-2.77%	12.12%

Different Trading Currencies

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

Returns By Period

In the year-to-date period, ZWE.TO achieves a -0.59% return, which is significantly lower than IDV's 7.04% return. Over the past 10 years, ZWE.TO has underperformed IDV with an annualized return of 8.24%, while IDV has yielded a comparatively higher 10.62% annualized return.

ZWE.TO

• 1D: 2.38%
• 1M: -5.74%
• YTD: -0.59%
• 6M: 4.72%
• 1Y: 7.56%
• 3Y*: 9.13%
• 5Y*: 9.12%
• 10Y*: 8.24%

IDV

• 1D: 0.00%
• 1M: -4.91%
• YTD: 7.04%
• 6M: 15.63%
• 1Y: 36.31%
• 3Y*: 22.97%
• 5Y*: 14.46%
• 10Y*: 10.62%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ZWE.TO vs. IDV - Expense Ratio Comparison

ZWE.TO has a 0.65% expense ratio, which is higher than IDV's 0.49% expense ratio.

ZWE.TO

BMO Europe High Dividend Covered Call Hedged to CAD ETF

IDV

iShares International Select Dividend ETF

Return for Risk

ZWE.TO vs. IDV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ZWE.TO

ZWE.TO Risk / Return Rank: 27
ZWE.TO Sharpe Ratio Rank: 29
ZWE.TO Sortino Ratio Rank: 26
ZWE.TO Omega Ratio Rank: 28
ZWE.TO Calmar Ratio Rank: 26
ZWE.TO Martin Ratio Rank: 25

IDV

IDV Risk / Return Rank: 97
IDV Sharpe Ratio Rank: 97
IDV Sortino Ratio Rank: 97
IDV Omega Ratio Rank: 97
IDV Calmar Ratio Rank: 96
IDV Martin Ratio Rank: 97

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.

ZWE.TO vs. IDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Europe High Dividend Covered Call Hedged to CAD ETF (ZWE.TO) and iShares International Select Dividend ETF (IDV). 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.

	ZWE.TO	IDV	Difference
Sharpe ratio Return per unit of total volatility	0.52	2.64	-2.12
Sortino ratio Return per unit of downside risk	0.77	3.24	-2.47
Omega ratio Gain probability vs. loss probability	1.11	1.53	-0.42
Calmar ratio Return relative to maximum drawdown	0.59	3.24	-2.65
Martin ratio Return relative to average drawdown	1.98	14.54	-12.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZWE.TO vs. IDV - Sharpe Ratio Comparison

The current ZWE.TO Sharpe Ratio is 0.52, which is lower than the IDV Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of ZWE.TO and IDV, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ZWE.TO	IDV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.52	2.64	-2.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.74	1.19	-0.45
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.71	-0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.71	-0.24

Correlation

The correlation between ZWE.TO and IDV is 0.59, 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.

Dividends

ZWE.TO vs. IDV - Dividend Comparison

ZWE.TO's dividend yield for the trailing twelve months is around 6.97%, more than IDV's 4.61% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ZWE.TO BMO Europe High Dividend Covered Call Hedged to CAD ETF	6.97%	6.81%	7.25%	7.25%	6.98%	6.30%	7.74%	6.53%	7.59%	6.49%	6.76%	2.32%
IDV iShares International Select Dividend ETF	4.61%	4.94%	6.46%	6.51%	7.33%	5.78%	5.47%	5.15%	5.93%	4.52%	4.69%	5.08%

Drawdowns

ZWE.TO vs. IDV - Drawdown Comparison

The maximum ZWE.TO drawdown since its inception was -35.38%, roughly equal to the maximum IDV drawdown of -37.10%. Use the drawdown chart below to compare losses from any high point for ZWE.TO and IDV.

Drawdown Indicators

	ZWE.TO	IDV	Difference
Max Drawdown Largest peak-to-trough decline	-35.38%	-70.14%	+34.76%
Max Drawdown (1Y) Largest decline over 1 year	-9.65%	-10.76%	+1.11%
Max Drawdown (5Y) Largest decline over 5 years	-13.60%	-29.19%	+15.59%
Max Drawdown (10Y) Largest decline over 10 years	-35.38%	-42.50%	+7.12%
Current Drawdown Current decline from peak	-6.20%	-4.55%	-1.65%
Average Drawdown Average peak-to-trough decline	-4.16%	-15.53%	+11.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.90%	2.41%	+0.49%

Volatility

ZWE.TO vs. IDV - Volatility Comparison

BMO Europe High Dividend Covered Call Hedged to CAD ETF (ZWE.TO) and iShares International Select Dividend ETF (IDV) have volatilities of 6.28% and 6.26%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZWE.TO	IDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.28%	6.26%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	8.53%	9.00%	-0.47%
Volatility (1Y) Calculated over the trailing 1-year period	14.64%	13.81%	+0.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.48%	12.26%	+0.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.47%	15.01%	+0.46%