ZWEN.TO vs. ZWT.TO
ZWEN.TO (BMO Covered Call Energy ETF) and ZWT.TO (BMO Covered Call Technology ETF) are both exchange-traded funds - ZWEN.TO is a Energy Equities fund actively managed by BMO, while ZWT.TO is a Technology Equities fund actively managed by BMO. Both are actively managed. Over the past 3 years, ZWEN.TO returned 19.60%/yr vs 36.02%/yr for ZWT.TO. At a correlation of -0.03, they often move in opposite directions. ZWEN.TO charges 0.88%/yr vs 0.71%/yr for ZWT.TO.
Performance
ZWEN.TO vs. ZWT.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZWEN.TO achieves a 30.35% return, which is significantly higher than ZWT.TO's 20.37% return.
ZWEN.TO
- 1D
- 1.16%
- 1M
- 0.91%
- YTD
- 30.35%
- 6M
- 25.89%
- 1Y
- 41.26%
- 3Y*
- 19.60%
- 5Y*
- —
- 10Y*
- —
ZWT.TO
- 1D
- -0.06%
- 1M
- 12.28%
- YTD
- 20.37%
- 6M
- 17.59%
- 1Y
- 47.17%
- 3Y*
- 36.02%
- 5Y*
- 23.64%
- 10Y*
- —
ZWEN.TO vs. ZWT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ZWEN.TO BMO Covered Call Energy ETF | 30.35% | 6.74% | 10.43% | 2.68% |
ZWT.TO BMO Covered Call Technology ETF | 20.37% | 18.15% | 49.78% | 49.73% |
Correlation
The correlation between ZWEN.TO and ZWT.TO is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2023 | -0.03 |
The correlation between ZWEN.TO and ZWT.TO shifts across timeframes, from -0.17 (1 year) to -0.02 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
ZWEN.TO vs. ZWT.TO — Risk / Return Rank
ZWEN.TO
ZWT.TO
ZWEN.TO vs. ZWT.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 Covered Call Technology ETF (ZWT.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 | ZWT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.45 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 4.37 | 2.98 | +1.39 |
| Martin ratioReturn relative to average drawdown | 14.22 | 9.56 | +4.66 |
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 | ZWT.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.49 | 2.66 | -0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.02 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.81 | 0.99 | -0.18 |
Drawdowns
ZWEN.TO vs. ZWT.TO - Drawdown Comparison
The maximum ZWEN.TO drawdown since its inception was -18.75%, smaller than the maximum ZWT.TO drawdown of -35.84%. Use the drawdown chart below to compare losses from any high point for ZWEN.TO and ZWT.TO.
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Drawdown Indicators
| ZWEN.TO | ZWT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.75% | -35.84% | +17.09% |
Max Drawdown (1Y)Largest decline over 1 year | -9.50% | -15.93% | +6.43% |
Max Drawdown (3Y)Largest decline over 3 years | -18.75% | -26.27% | +7.52% |
Max Drawdown (5Y)Largest decline over 5 years | — | -35.84% | — |
Current DrawdownCurrent decline from peak | -2.09% | -0.06% | -2.03% |
Average DrawdownAverage peak-to-trough decline | -4.38% | -8.84% | +4.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.91% | 4.95% | -2.04% |
Volatility
ZWEN.TO vs. ZWT.TO - Volatility Comparison
BMO Covered Call Energy ETF (ZWEN.TO) has a higher volatility of 7.08% compared to BMO Covered Call Technology ETF (ZWT.TO) at 4.19%. This indicates that ZWEN.TO's price experiences larger fluctuations and is considered to be riskier than ZWT.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 | ZWT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.08% | 4.19% | +2.89% |
Volatility (6M)Calculated over the trailing 6-month period | 13.73% | 13.67% | +0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.69% | 17.81% | -1.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.11% | 23.23% | -5.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.11% | 22.98% | -4.87% |
ZWEN.TO vs. ZWT.TO - Expense Ratio Comparison
ZWEN.TO has a 0.88% expense ratio, which is higher than ZWT.TO's 0.71% expense ratio.
Dividends
ZWEN.TO vs. ZWT.TO - Dividend Comparison
ZWEN.TO's dividend yield for the trailing twelve months is around 7.56%, more than ZWT.TO's 4.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
ZWEN.TO BMO Covered Call Energy ETF | 7.56% | 9.53% | 9.09% | 8.27% | 0.00% | 0.00% |
ZWT.TO BMO Covered Call Technology ETF | 4.22% | 4.46% | 3.34% | 3.83% | 6.54% | 4.00% |
Frequently Asked Questions
ZWEN.TO and ZWT.TO have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZWT.TO is cheaper at 0.71% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZWT.TO is cheaper with a 0.71% expense ratio, compared with 0.88% for ZWEN.TO.
ZWEN.TO is categorized as Energy Equities, while ZWT.TO is Technology Equities. Their fees differ too: 0.88% for ZWEN.TO and 0.71% for ZWT.TO.
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