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ZWG.TO vs. IDVO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZWG.TO vs. IDVO

Last updated Jun 4, 2026

ZWG.TO (BMO Global High Dividend Covered Call ETF) and IDVO (Amplify CWP International Enhanced Dividend Income ETF) are both Derivative Income funds. Both are actively managed. Over the past 3 years, ZWG.TO returned 16.14%/yr vs 25.26%/yr for IDVO. A 0.51 correlation means they provide meaningful diversification when combined. Both charge a 0.65% expense ratio.

Performance

ZWG.TO vs. IDVO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Global High Dividend Covered Call ETF (ZWG.TO) and Amplify CWP International Enhanced Dividend Income ETF (IDVO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

ZWG.TO is traded in CAD, while IDVO is traded in USD. To make them comparable, the IDVO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ZWG.TO achieves a 11.46% return, which is significantly lower than IDVO's 15.57% return.

ZWG.TO

1D
-0.41%
1M
7.53%
YTD
11.46%
6M
8.19%
1Y
22.65%
3Y*
16.14%
5Y*
10.76%
10Y*
—

IDVO

1D
-0.84%
1M
4.12%
YTD
15.57%
6M
14.22%
1Y
37.03%
3Y*
25.26%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

ZWG.TO vs. IDVO - Yearly Performance Comparison

2026 (YTD)2025202420232022
ZWG.TO
BMO Global High Dividend Covered Call ETF		11.46%7.31%21.47%9.25%8.06%
IDVO
Amplify CWP International Enhanced Dividend Income ETF		15.57%30.20%19.62%14.94%9.12%

Correlation

The correlation between ZWG.TO and IDVO is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.52

Correlation (3Y)
Calculated over the trailing 3-year period

0.49

Correlation (All Time)
Calculated using the full available price history since Sep 9, 2022

0.51

The correlation between ZWG.TO and IDVO has been stable across timeframes, ranging from 0.49 to 0.52 - a consistent structural relationship.

ZWG.TO vs. IDVO - Sectors Allocation Comparison

Sectors
ZWG.TO
IDVO

Technology

25.3%
8.7%

Financial Services

20.9%
18.3%

Healthcare

11.2%
8.3%

Consumer Defensive

9.1%
7.5%

Energy

8.9%
12.1%

Consumer Cyclical

8.6%
4.2%

Communication Services

6.2%
9.1%

Industrials

5.2%
9.8%

Basic Materials

4.5%
15.7%

Real Estate

-

-

Utilities

-

6.4%

Technology

ZWG.TO
25.3%
IDVO
8.7%

Financial Services

ZWG.TO
20.9%
IDVO
18.3%

Healthcare

ZWG.TO
11.2%
IDVO
8.3%

Consumer Defensive

ZWG.TO
9.1%
IDVO
7.5%

Energy

ZWG.TO
8.9%
IDVO
12.1%

Consumer Cyclical

ZWG.TO
8.6%
IDVO
4.2%

Communication Services

ZWG.TO
6.2%
IDVO
9.1%

Industrials

ZWG.TO
5.2%
IDVO
9.8%

Basic Materials

ZWG.TO
4.5%
IDVO
15.7%

Real Estate

ZWG.TO

-

IDVO

-

Utilities

ZWG.TO

-

IDVO
6.4%

Compare stocks, funds, or ETFs

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BMO Global High Dividend Covered Call ETF

Amplify CWP International Enhanced Dividend Income ETF

Often compared with ZWG.TO:
ZWG.TO vs. JEPI.TOZWG.TO vs. HMAX.TOZWG.TO vs. ZWC.TOZWG.TO vs. ZWB.TOZWG.TO vs. ZDJ.TOZWG.TO vs. ZDI.TOZWG.TO vs. ZGLD.TO
Often compared with IDVO:
IDVO vs. DIVOIDVO vs. SCHYIDVO vs. VXUSIDVO vs. NIHIIDVO vs. DIVIIDVO vs. AVDVIDVO vs. JEPQ

Return for Risk

ZWG.TO vs. IDVO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZWG.TO
ZWG.TO Risk / Return Rank: 6464
Overall Rank
ZWG.TO Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
ZWG.TO Sortino Ratio Rank: 6464
Sortino Ratio Rank
ZWG.TO Omega Ratio Rank: 6060
Omega Ratio Rank
ZWG.TO Calmar Ratio Rank: 6767
Calmar Ratio Rank
ZWG.TO Martin Ratio Rank: 6969
Martin Ratio Rank
IDVO
IDVO Risk / Return Rank: 6767
Overall Rank
IDVO Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
IDVO Sortino Ratio Rank: 6464
Sortino Ratio Rank
IDVO Omega Ratio Rank: 6767
Omega Ratio Rank
IDVO Calmar Ratio Rank: 6767
Calmar Ratio Rank
IDVO Martin Ratio Rank: 7070
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.

ZWG.TO vs. IDVO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Global High Dividend Covered Call ETF (ZWG.TO) and Amplify CWP International Enhanced Dividend Income ETF (IDVO). 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.

ZWG.TOIDVODifference
Sharpe ratioReturn per unit of total volatility
2.08
2.52

-0.44

Sortino ratioReturn per unit of downside risk
2.98
3.38

-0.40

Omega ratioGain probability vs. loss probability

1.37

1.46

-0.09

Calmar ratioReturn relative to maximum drawdown

3.31

3.69

-0.39

Martin ratioReturn relative to average drawdown

12.68

15.10

-2.42

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

ZWG.TO vs. IDVO - Sharpe Ratio Comparison

The current ZWG.TO Sharpe Ratio is 2.08, which is comparable to the IDVO Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of ZWG.TO and IDVO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

ZWG.TOIDVODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.08

2.52

-0.44

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.92

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.21

1.75

-1.54

Drawdowns

ZWG.TO vs. IDVO - Drawdown Comparison

The maximum ZWG.TO drawdown since its inception was -25.55%, which is greater than IDVO's maximum drawdown of -15.82%. Use the drawdown chart below to compare losses from any high point for ZWG.TO and IDVO.

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Drawdown Indicators

ZWG.TOIDVODifference

Max Drawdown

Largest peak-to-trough decline

-25.55%

-15.82%

-9.73%

Max Drawdown (1Y)

Largest decline over 1 year

-6.88%

-10.07%

+3.19%

Max Drawdown (3Y)

Largest decline over 3 years

-14.87%

-15.82%

+0.95%

Max Drawdown (5Y)

Largest decline over 5 years

-15.62%

—

—

Current Drawdown

Current decline from peak

-0.56%

-0.84%

+0.28%

Average Drawdown

Average peak-to-trough decline

-3.46%

-1.72%

-1.74%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.79%

2.46%

-0.67%

Volatility

ZWG.TO vs. IDVO - Volatility Comparison

The current volatility for BMO Global High Dividend Covered Call ETF (ZWG.TO) is 4.16%, while Amplify CWP International Enhanced Dividend Income ETF (IDVO) has a volatility of 5.12%. This indicates that ZWG.TO experiences smaller price fluctuations and is considered to be less risky than IDVO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ZWG.TOIDVODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.16%

5.12%

-0.96%

Volatility (6M)

Calculated over the trailing 6-month period

8.75%

12.36%

-3.61%

Volatility (1Y)

Calculated over the trailing 1-year period

10.95%

14.79%

-3.84%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.71%

14.03%

-2.32%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

239.97%

14.03%

+225.94%

ZWG.TO vs. IDVO - Expense Ratio Comparison

Both ZWG.TO and IDVO have an expense ratio of 0.65%.

Dividends

ZWG.TO vs. IDVO - Dividend Comparison

ZWG.TO's dividend yield for the trailing twelve months is around 5.88%, more than IDVO's 5.48% yield.

PositionTTM202520242023202220212020
IDVO
Amplify CWP International Enhanced Dividend Income ETF		5.48%5.42%6.14%5.72%1.96%0.00%0.00%
ZWG.TO
BMO Global High Dividend Covered Call ETF		5.88%6.41%6.48%7.42%7.23%6.40%6.09%

Frequently Asked Questions

ZWG.TO and IDVO have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Both ETFs have the same 0.65% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

ZWG.TO and IDVO have the same expense ratio: 0.65% per year.

They also come from different issuers: BMO and Amplify.

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