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ZWEN.TO vs. ZCN.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

ZWEN.TO vs. ZCN.TO

Last updated Apr 2, 2026

Compare and contrast key facts about BMO Covered Call Energy ETF (ZWEN.TO) and BMO S&P/TSX Capped Composite Index ETF (ZCN.TO).

ZWEN.TO and ZCN.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZWEN.TO is an actively managed fund by BMO. It was launched on Jan 23, 2023. ZCN.TO is a passively managed fund by BMO that tracks the performance of the S&P/TSX Capped Composite Index. It was launched on May 29, 2009.

Performance

ZWEN.TO vs. ZCN.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Covered Call Energy ETF (ZWEN.TO) and BMO S&P/TSX Capped Composite Index ETF (ZCN.TO). The values are adjusted to include any dividend payments, if applicable.

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ZWEN.TO vs. ZCN.TO - Yearly Performance Comparison

2026 (YTD)202520242023
ZWEN.TO
BMO Covered Call Energy ETF		28.82%6.74%10.43%2.68%
ZCN.TO
BMO S&P/TSX Capped Composite Index ETF		4.54%31.51%21.64%4.39%

Returns By Period

In the year-to-date period, ZWEN.TO achieves a 28.82% return, which is significantly higher than ZCN.TO's 4.54% return.

ZWEN.TO

1D
-2.24%
1M
6.94%
YTD
28.82%
6M
27.65%
1Y
26.85%
3Y*
17.80%
5Y*
—
10Y*
—

ZCN.TO

1D
0.64%
1M
-4.29%
YTD
4.54%
6M
10.66%
1Y
34.87%
3Y*
21.33%
5Y*
14.92%
10Y*
12.66%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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BMO Covered Call Energy ETF

BMO S&P/TSX Capped Composite Index ETF

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Often compared with ZCN.TO:
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ZWEN.TO vs. ZCN.TO - Expense Ratio Comparison

ZWEN.TO has a 0.88% expense ratio, which is higher than ZCN.TO's 0.06% expense ratio.

ZWEN.TO
BMO Covered Call Energy ETF
ZCN.TO
BMO S&P/TSX Capped Composite Index ETF

Return for Risk

ZWEN.TO vs. ZCN.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZWEN.TO
ZWEN.TO Risk / Return Rank: 5656
Overall Rank
ZWEN.TO Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
ZWEN.TO Sortino Ratio Rank: 6060
Sortino Ratio Rank
ZWEN.TO Omega Ratio Rank: 6666
Omega Ratio Rank
ZWEN.TO Calmar Ratio Rank: 4848
Calmar Ratio Rank
ZWEN.TO Martin Ratio Rank: 3838
Martin Ratio Rank
ZCN.TO
ZCN.TO Risk / Return Rank: 9393
Overall Rank
ZCN.TO Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
ZCN.TO Sortino Ratio Rank: 9393
Sortino Ratio Rank
ZCN.TO Omega Ratio Rank: 9494
Omega Ratio Rank
ZCN.TO Calmar Ratio Rank: 9191
Calmar Ratio Rank
ZCN.TO Martin Ratio Rank: 9494
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.

ZWEN.TO vs. ZCN.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Covered Call Energy ETF (ZWEN.TO) and BMO S&P/TSX Capped Composite Index ETF (ZCN.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.TOZCN.TODifference

Sharpe ratio

Return per unit of total volatility

1.28

2.29

-1.02

Sortino ratio

Return per unit of downside risk

1.64

2.89

-1.26

Omega ratio

Gain probability vs. loss probability

1.26

1.46

-0.20

Calmar ratio

Return relative to maximum drawdown

1.42

3.22

-1.80

Martin ratio

Return relative to average drawdown

4.07

14.47

-10.40

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZWEN.TO vs. ZCN.TO - Sharpe Ratio Comparison

The current ZWEN.TO Sharpe Ratio is 1.28, which is lower than the ZCN.TO Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of ZWEN.TO and ZCN.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

ZWEN.TOZCN.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.28

2.29

-1.02

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

1.15

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.85

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.85

0.66

+0.19

Correlation

The correlation between ZWEN.TO and ZCN.TO is 0.36, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

ZWEN.TO vs. ZCN.TO - Dividend Comparison

ZWEN.TO's dividend yield for the trailing twelve months is around 7.55%, more than ZCN.TO's 2.15% yield.

TTM20252024202320222021202020192018201720162015
ZWEN.TO
BMO Covered Call Energy ETF		7.55%9.53%9.09%8.27%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
ZCN.TO
BMO S&P/TSX Capped Composite Index ETF		2.15%2.22%2.78%3.29%3.27%2.74%3.24%3.13%3.16%2.71%2.84%3.33%

Drawdowns

ZWEN.TO vs. ZCN.TO - Drawdown Comparison

The maximum ZWEN.TO drawdown since its inception was -18.75%, smaller than the maximum ZCN.TO drawdown of -37.18%. Use the drawdown chart below to compare losses from any high point for ZWEN.TO and ZCN.TO.

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Drawdown Indicators

ZWEN.TOZCN.TODifference

Max Drawdown

Largest peak-to-trough decline

-18.75%

-37.18%

+18.43%

Max Drawdown (1Y)

Largest decline over 1 year

-18.75%

-11.02%

-7.73%

Max Drawdown (5Y)

Largest decline over 5 years

—

-16.25%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-37.18%

—

Current Drawdown

Current decline from peak

-3.24%

-4.29%

+1.05%

Average Drawdown

Average peak-to-trough decline

-4.37%

-4.80%

+0.43%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.54%

2.46%

+4.08%

Volatility

ZWEN.TO vs. ZCN.TO - Volatility Comparison

The current volatility for BMO Covered Call Energy ETF (ZWEN.TO) is 4.77%, while BMO S&P/TSX Capped Composite Index ETF (ZCN.TO) has a volatility of 5.62%. This indicates that ZWEN.TO experiences smaller price fluctuations and is considered to be less risky than ZCN.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.TOZCN.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.77%

5.62%

-0.85%

Volatility (6M)

Calculated over the trailing 6-month period

11.06%

10.90%

+0.16%

Volatility (1Y)

Calculated over the trailing 1-year period

21.15%

15.29%

+5.86%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.79%

13.01%

+4.78%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.79%

14.96%

+2.83%