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ZWE.TO vs. VE.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

ZWE.TO vs. VE.TO

Last updated Apr 1, 2026

Compare and contrast key facts about BMO Europe High Dividend Covered Call Hedged to CAD ETF (ZWE.TO) and Vanguard FTSE Developed Europe All Cap Index ETF (VE.TO).

ZWE.TO and VE.TO 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. VE.TO is a passively managed fund by Vanguard that tracks the performance of the FTSE Developed Europe All Cap Index. It was launched on Jun 30, 2014.

Performance

ZWE.TO vs. VE.TO - 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 Vanguard FTSE Developed Europe All Cap Index ETF (VE.TO). The values are adjusted to include any dividend payments, if applicable.

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ZWE.TO vs. VE.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
VE.TO
Vanguard FTSE Developed Europe All Cap Index ETF		0.12%29.58%10.77%16.67%-10.07%15.65%3.00%18.14%-7.96%18.82%

Returns By Period

In the year-to-date period, ZWE.TO achieves a -0.59% return, which is significantly lower than VE.TO's 0.12% return. Over the past 10 years, ZWE.TO has underperformed VE.TO with an annualized return of 8.24%, while VE.TO has yielded a comparatively higher 9.42% 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%

VE.TO

1D
3.10%
1M
-6.68%
YTD
0.12%
6M
4.21%
1Y
16.44%
3Y*
15.23%
5Y*
10.71%
10Y*
9.42%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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BMO Europe High Dividend Covered Call Hedged to CAD ETF

Vanguard FTSE Developed Europe All Cap Index ETF

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Often compared with VE.TO:
VE.TO vs. VIU.TOVE.TO vs. XEU.TOVE.TO vs. VEAVE.TO vs. VA.TOVE.TO vs. XEF.TOVE.TO vs. QQQVE.TO vs. VXC.TO

ZWE.TO vs. VE.TO - Expense Ratio Comparison

ZWE.TO has a 0.65% expense ratio, which is higher than VE.TO's 0.22% expense ratio.

ZWE.TO
BMO Europe High Dividend Covered Call Hedged to CAD ETF
VE.TO
Vanguard FTSE Developed Europe All Cap Index ETF

Return for Risk

ZWE.TO vs. VE.TO — 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: 2727
Overall Rank
ZWE.TO Sharpe Ratio Rank: 2929
Sharpe Ratio Rank
ZWE.TO Sortino Ratio Rank: 2626
Sortino Ratio Rank
ZWE.TO Omega Ratio Rank: 2828
Omega Ratio Rank
ZWE.TO Calmar Ratio Rank: 2626
Calmar Ratio Rank
ZWE.TO Martin Ratio Rank: 2525
Martin Ratio Rank
VE.TO
VE.TO Risk / Return Rank: 5555
Overall Rank
VE.TO Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
VE.TO Sortino Ratio Rank: 5757
Sortino Ratio Rank
VE.TO Omega Ratio Rank: 5656
Omega Ratio Rank
VE.TO Calmar Ratio Rank: 5252
Calmar Ratio Rank
VE.TO Martin Ratio Rank: 5252
Martin Ratio Rank
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. VE.TO - 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 Vanguard FTSE Developed Europe All Cap Index ETF (VE.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.

ZWE.TOVE.TODifference

Sharpe ratio

Return per unit of total volatility

0.52

1.01

-0.49

Sortino ratio

Return per unit of downside risk

0.77

1.43

-0.66

Omega ratio

Gain probability vs. loss probability

1.11

1.20

-0.09

Calmar ratio

Return relative to maximum drawdown

0.59

1.25

-0.66

Martin ratio

Return relative to average drawdown

1.98

4.86

-2.88

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. VE.TO - Sharpe Ratio Comparison

The current ZWE.TO Sharpe Ratio is 0.52, which is lower than the VE.TO Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of ZWE.TO and VE.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

ZWE.TOVE.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.52

1.01

-0.49

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.74

0.73

+0.01

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.54

0.59

-0.05

Sharpe Ratio (All Time)

Calculated using the full available price history

0.47

0.52

-0.05

Correlation

The correlation between ZWE.TO and VE.TO is 0.65, 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. VE.TO - Dividend Comparison

ZWE.TO's dividend yield for the trailing twelve months is around 6.97%, more than VE.TO's 2.58% yield.

TTM20252024202320222021202020192018201720162015
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%
VE.TO
Vanguard FTSE Developed Europe All Cap Index ETF		2.58%2.58%2.97%2.97%3.20%2.97%2.41%3.79%3.57%2.22%2.33%2.47%

Drawdowns

ZWE.TO vs. VE.TO - Drawdown Comparison

The maximum ZWE.TO drawdown since its inception was -35.38%, which is greater than VE.TO's maximum drawdown of -31.66%. Use the drawdown chart below to compare losses from any high point for ZWE.TO and VE.TO.

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Drawdown Indicators

ZWE.TOVE.TODifference

Max Drawdown

Largest peak-to-trough decline

-35.38%

-31.66%

-3.72%

Max Drawdown (1Y)

Largest decline over 1 year

-9.65%

-12.68%

+3.03%

Max Drawdown (5Y)

Largest decline over 5 years

-13.60%

-27.26%

+13.66%

Max Drawdown (10Y)

Largest decline over 10 years

-35.38%

-31.66%

-3.72%

Current Drawdown

Current decline from peak

-6.20%

-7.46%

+1.26%

Average Drawdown

Average peak-to-trough decline

-4.16%

-5.63%

+1.47%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.90%

3.26%

-0.36%

Volatility

ZWE.TO vs. VE.TO - Volatility Comparison

The current volatility for BMO Europe High Dividend Covered Call Hedged to CAD ETF (ZWE.TO) is 6.28%, while Vanguard FTSE Developed Europe All Cap Index ETF (VE.TO) has a volatility of 7.86%. This indicates that ZWE.TO experiences smaller price fluctuations and is considered to be less risky than VE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ZWE.TOVE.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.28%

7.86%

-1.58%

Volatility (6M)

Calculated over the trailing 6-month period

8.53%

10.66%

-2.13%

Volatility (1Y)

Calculated over the trailing 1-year period

14.64%

16.35%

-1.71%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.48%

14.78%

-2.30%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.47%

16.05%

-0.58%