ZWE.TO vs. ZSP.TO
Compare and contrast key facts about BMO Europe High Dividend Covered Call Hedged to CAD ETF (ZWE.TO) and BMO S&P 500 Index ETF (ZSP.TO).
ZWE.TO and ZSP.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. ZSP.TO is a passively managed fund by BMO that tracks the performance of the S&P 500 Index. It was launched on Nov 14, 2012.
Performance
ZWE.TO vs. ZSP.TO - Performance Comparison
Loading graphics...
ZWE.TO vs. ZSP.TO - 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% |
ZSP.TO BMO S&P 500 Index ETF | -3.17% | 12.02% | 35.07% | 23.30% | -12.68% | 27.53% | 15.61% | 24.69% | 3.24% | 13.54% |
Returns By Period
In the year-to-date period, ZWE.TO achieves a -0.59% return, which is significantly higher than ZSP.TO's -3.17% return. Over the past 10 years, ZWE.TO has underperformed ZSP.TO with an annualized return of 8.24%, while ZSP.TO has yielded a comparatively higher 14.40% 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%
ZSP.TO
- 1D
- 2.73%
- 1M
- -3.14%
- YTD
- -3.17%
- 6M
- -2.25%
- 1Y
- 13.31%
- 3Y*
- 18.98%
- 5Y*
- 13.70%
- 10Y*
- 14.40%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
ZWE.TO vs. ZSP.TO - Expense Ratio Comparison
ZWE.TO has a 0.65% expense ratio, which is higher than ZSP.TO's 0.09% expense ratio.
Return for Risk
ZWE.TO vs. ZSP.TO — Risk / Return Rank
ZWE.TO
ZSP.TO
ZWE.TO vs. ZSP.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 BMO S&P 500 Index ETF (ZSP.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.TO | ZSP.TO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.52 | 0.73 | -0.21 |
Sortino ratioReturn per unit of downside risk | 0.77 | 1.10 | -0.34 |
Omega ratioGain probability vs. loss probability | 1.11 | 1.17 | -0.06 |
Calmar ratioReturn relative to maximum drawdown | 0.59 | 1.17 | -0.57 |
Martin ratioReturn relative to average drawdown | 1.98 | 4.37 | -2.39 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| ZWE.TO | ZSP.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.52 | 0.73 | -0.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.74 | 0.92 | -0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.88 | -0.35 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 1.08 | -0.61 |
Correlation
The correlation between ZWE.TO and ZSP.TO is 0.53, 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. ZSP.TO - Dividend Comparison
ZWE.TO's dividend yield for the trailing twelve months is around 6.97%, more than ZSP.TO's 0.87% 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% |
ZSP.TO BMO S&P 500 Index ETF | 0.87% | 0.82% | 0.94% | 1.33% | 1.44% | 1.15% | 1.44% | 1.47% | 1.63% | 1.63% | 2.20% | 1.53% |
Drawdowns
ZWE.TO vs. ZSP.TO - Drawdown Comparison
The maximum ZWE.TO drawdown since its inception was -35.38%, which is greater than ZSP.TO's maximum drawdown of -26.94%. Use the drawdown chart below to compare losses from any high point for ZWE.TO and ZSP.TO.
Loading graphics...
Drawdown Indicators
| ZWE.TO | ZSP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.38% | -26.94% | -8.44% |
Max Drawdown (1Y)Largest decline over 1 year | -9.65% | -12.43% | +2.78% |
Max Drawdown (5Y)Largest decline over 5 years | -13.60% | -22.25% | +8.65% |
Max Drawdown (10Y)Largest decline over 10 years | -35.38% | -26.94% | -8.44% |
Current DrawdownCurrent decline from peak | -6.20% | -6.12% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -4.16% | -3.37% | -0.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.90% | 3.33% | -0.43% |
Volatility
ZWE.TO vs. ZSP.TO - Volatility Comparison
BMO Europe High Dividend Covered Call Hedged to CAD ETF (ZWE.TO) has a higher volatility of 6.28% compared to BMO S&P 500 Index ETF (ZSP.TO) at 5.16%. This indicates that ZWE.TO's price experiences larger fluctuations and is considered to be riskier than ZSP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| ZWE.TO | ZSP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.28% | 5.16% | +1.12% |
Volatility (6M)Calculated over the trailing 6-month period | 8.53% | 9.35% | -0.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.64% | 18.36% | -3.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.48% | 14.97% | -2.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.47% | 16.37% | -0.90% |