ZWEN.TO vs. PPLN.TO
ZWEN.TO (BMO Covered Call Energy ETF) and PPLN.TO (Global X Equal Weight Canadian Pipelines Index ETF) are both Energy Equities funds. ZWEN.TO is actively managed, while PPLN.TO is passively managed. Over the past 3 years, ZWEN.TO returned 19.60%/yr vs 18.78%/yr for PPLN.TO. At a 0.41 correlation, their price movements are largely independent. ZWEN.TO charges 0.88%/yr vs 0.31%/yr for PPLN.TO.
Performance
ZWEN.TO vs. PPLN.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with ZWEN.TO having a 30.35% return and PPLN.TO slightly lower at 29.04%.
ZWEN.TO
- 1D
- 1.16%
- 1M
- 0.91%
- YTD
- 30.35%
- 6M
- 25.89%
- 1Y
- 41.26%
- 3Y*
- 19.60%
- 5Y*
- —
- 10Y*
- —
PPLN.TO
- 1D
- -0.24%
- 1M
- 6.16%
- YTD
- 29.04%
- 6M
- 28.59%
- 1Y
- 39.15%
- 3Y*
- 18.78%
- 5Y*
- 14.07%
- 10Y*
- 10.87%
ZWEN.TO vs. PPLN.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ZWEN.TO BMO Covered Call Energy ETF | 30.35% | 6.74% | 10.43% | 2.68% |
PPLN.TO Global X Equal Weight Canadian Pipelines Index ETF | 29.04% | 4.14% | 17.18% | 3.51% |
Correlation
The correlation between ZWEN.TO and PPLN.TO is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2023 | 0.41 |
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Return for Risk
ZWEN.TO vs. PPLN.TO — Risk / Return Rank
ZWEN.TO
PPLN.TO
ZWEN.TO vs. PPLN.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Covered Call Energy ETF (ZWEN.TO) and Global X Equal Weight Canadian Pipelines Index ETF (PPLN.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.
| ZWEN.TO | PPLN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.25 | ||
| Sortino ratioReturn per unit of downside risk | -0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.47 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 4.37 | 3.85 | +0.52 |
| Martin ratioReturn relative to average drawdown | 14.22 | 10.25 | +3.97 |
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
| ZWEN.TO | PPLN.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.49 | 2.73 | -0.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.81 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.47 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.81 | 0.33 | +0.47 |
Drawdowns
ZWEN.TO vs. PPLN.TO - Drawdown Comparison
The maximum ZWEN.TO drawdown since its inception was -18.75%, smaller than the maximum PPLN.TO drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for ZWEN.TO and PPLN.TO.
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Drawdown Indicators
| ZWEN.TO | PPLN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.75% | -59.05% | +40.30% |
Max Drawdown (1Y)Largest decline over 1 year | -9.50% | -10.22% | +0.72% |
Max Drawdown (3Y)Largest decline over 3 years | -18.75% | -15.31% | -3.44% |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.54% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -59.05% | — |
Current DrawdownCurrent decline from peak | -2.09% | -2.93% | +0.84% |
Average DrawdownAverage peak-to-trough decline | -4.38% | -9.47% | +5.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.91% | 3.84% | -0.93% |
Volatility
ZWEN.TO vs. PPLN.TO - Volatility Comparison
BMO Covered Call Energy ETF (ZWEN.TO) has a higher volatility of 7.08% compared to Global X Equal Weight Canadian Pipelines Index ETF (PPLN.TO) at 5.77%. This indicates that ZWEN.TO's price experiences larger fluctuations and is considered to be riskier than PPLN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZWEN.TO | PPLN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.08% | 5.77% | +1.31% |
Volatility (6M)Calculated over the trailing 6-month period | 13.73% | 11.56% | +2.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.69% | 14.40% | +2.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.11% | 17.40% | +0.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.11% | 23.20% | -5.09% |
ZWEN.TO vs. PPLN.TO - Expense Ratio Comparison
ZWEN.TO has a 0.88% expense ratio, which is higher than PPLN.TO's 0.31% expense ratio.
Dividends
ZWEN.TO vs. PPLN.TO - Dividend Comparison
ZWEN.TO's dividend yield for the trailing twelve months is around 7.56%, more than PPLN.TO's 4.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PPLN.TO Global X Equal Weight Canadian Pipelines Index ETF | 4.26% | 4.35% | 2.94% | 3.77% | 3.23% | 3.47% | 5.76% | 4.40% | 5.21% | 4.31% | 3.99% | 4.41% |
ZWEN.TO BMO Covered Call Energy ETF | 7.56% | 9.53% | 9.09% | 8.27% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZWEN.TO and PPLN.TO have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PPLN.TO is cheaper at 0.31% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PPLN.TO is cheaper with a 0.31% expense ratio, compared with 0.88% for ZWEN.TO.
They also come from different issuers: BMO and Global X. Their fees differ too: 0.88% for ZWEN.TO and 0.31% for PPLN.TO.
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