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

ZWG.TO vs. ZWC.TO

Last updated Apr 1, 2026

Compare and contrast key facts about BMO Global High Dividend Covered Call ETF (ZWG.TO) and BMO CA High Dividend Covered Call ETF (ZWC.TO).

ZWG.TO and ZWC.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZWG.TO is an actively managed fund by BMO. It was launched on Jan 15, 2020. ZWC.TO is an actively managed fund by BMO. It was launched on Feb 3, 2017.

Performance

ZWG.TO vs. ZWC.TO - 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 BMO CA High Dividend Covered Call ETF (ZWC.TO). The values are adjusted to include any dividend payments, if applicable.

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ZWG.TO vs. ZWC.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
ZWG.TO
BMO Global High Dividend Covered Call ETF		2.31%7.31%21.47%9.25%-4.38%17.19%92.09%
ZWC.TO
BMO CA High Dividend Covered Call ETF		6.38%22.79%12.00%7.54%-3.54%25.39%-8.99%

Returns By Period

In the year-to-date period, ZWG.TO achieves a 2.31% return, which is significantly lower than ZWC.TO's 6.38% return.

ZWG.TO

1D
1.75%
1M
-2.81%
YTD
2.31%
6M
3.79%
1Y
8.49%
3Y*
12.43%
5Y*
8.95%
10Y*
—

ZWC.TO

1D
1.51%
1M
-1.96%
YTD
6.38%
6M
12.84%
1Y
27.26%
3Y*
15.07%
5Y*
11.59%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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BMO Global High Dividend Covered Call ETF

BMO CA High Dividend Covered Call ETF

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Often compared with ZWC.TO:
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ZWG.TO vs. ZWC.TO - Expense Ratio Comparison

ZWG.TO has a 0.65% expense ratio, which is lower than ZWC.TO's 0.91% expense ratio.

ZWC.TO
BMO CA High Dividend Covered Call ETF
ZWG.TO
BMO Global High Dividend Covered Call ETF

Return for Risk

ZWG.TO vs. ZWC.TO — 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: 3030
Overall Rank
ZWG.TO Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
ZWG.TO Sortino Ratio Rank: 2828
Sortino Ratio Rank
ZWG.TO Omega Ratio Rank: 2929
Omega Ratio Rank
ZWG.TO Calmar Ratio Rank: 3131
Calmar Ratio Rank
ZWG.TO Martin Ratio Rank: 3232
Martin Ratio Rank
ZWC.TO
ZWC.TO Risk / Return Rank: 9696
Overall Rank
ZWC.TO Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
ZWC.TO Sortino Ratio Rank: 9797
Sortino Ratio Rank
ZWC.TO Omega Ratio Rank: 9797
Omega Ratio Rank
ZWC.TO Calmar Ratio Rank: 9292
Calmar Ratio Rank
ZWC.TO Martin Ratio Rank: 9696
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. ZWC.TO - 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 BMO CA High Dividend Covered Call ETF (ZWC.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.

ZWG.TOZWC.TODifference

Sharpe ratio

Return per unit of total volatility

0.56

2.70

-2.14

Sortino ratio

Return per unit of downside risk

0.84

3.45

-2.61

Omega ratio

Gain probability vs. loss probability

1.12

1.58

-0.46

Calmar ratio

Return relative to maximum drawdown

0.76

3.15

-2.39

Martin ratio

Return relative to average drawdown

2.83

16.47

-13.64

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. ZWC.TO - Sharpe Ratio Comparison

The current ZWG.TO Sharpe Ratio is 0.56, which is lower than the ZWC.TO Sharpe Ratio of 2.70. The chart below compares the historical Sharpe Ratios of ZWG.TO and ZWC.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

ZWG.TOZWC.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.56

2.70

-2.14

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.78

1.16

-0.38

Sharpe Ratio (All Time)

Calculated using the full available price history

0.53

0.53

0.00

Correlation

The correlation between ZWG.TO and ZWC.TO is 0.57, 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

ZWG.TO vs. ZWC.TO - Dividend Comparison

ZWG.TO's dividend yield for the trailing twelve months is around 6.32%, more than ZWC.TO's 5.72% yield.

TTM202520242023202220212020201920182017
ZWG.TO
BMO Global High Dividend Covered Call ETF		6.32%6.41%6.48%7.42%7.23%6.40%6.09%0.00%0.00%0.00%
ZWC.TO
BMO CA High Dividend Covered Call ETF		5.72%5.92%6.73%7.62%7.01%6.60%8.15%6.92%7.11%5.46%

Drawdowns

ZWG.TO vs. ZWC.TO - Drawdown Comparison

The maximum ZWG.TO drawdown since its inception was -25.55%, smaller than the maximum ZWC.TO drawdown of -40.57%. Use the drawdown chart below to compare losses from any high point for ZWG.TO and ZWC.TO.

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Drawdown Indicators

ZWG.TOZWC.TODifference

Max Drawdown

Largest peak-to-trough decline

-25.55%

-40.57%

+15.02%

Max Drawdown (1Y)

Largest decline over 1 year

-12.36%

-8.93%

-3.43%

Max Drawdown (5Y)

Largest decline over 5 years

-15.62%

-16.43%

+0.81%

Current Drawdown

Current decline from peak

-3.30%

-2.63%

-0.67%

Average Drawdown

Average peak-to-trough decline

-3.52%

-4.76%

+1.24%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.36%

1.71%

+1.65%

Volatility

ZWG.TO vs. ZWC.TO - Volatility Comparison

BMO Global High Dividend Covered Call ETF (ZWG.TO) and BMO CA High Dividend Covered Call ETF (ZWC.TO) have volatilities of 4.06% and 3.93%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ZWG.TOZWC.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.06%

3.93%

+0.13%

Volatility (6M)

Calculated over the trailing 6-month period

8.41%

6.60%

+1.81%

Volatility (1Y)

Calculated over the trailing 1-year period

15.25%

10.17%

+5.08%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.61%

10.09%

+1.52%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

38.51%

15.04%

+23.47%