ZWP.TO vs. CRCY.TO

Last updated Apr 1, 2026

Compare and contrast key facts about BMO Covered Call Europe High Dividend ETF (ZWP.TO) and Harvest Circle Enhanced High Income Shares ETF Class A Units (CRCY.TO).

ZWP.TO and CRCY.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZWP.TO is an actively managed fund by BMO. It was launched on Mar 1, 2018. CRCY.TO is an actively managed fund by Harvest. It was launched on Sep 26, 2025.

Performance

ZWP.TO vs. CRCY.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Covered Call Europe High Dividend ETF (ZWP.TO) and Harvest Circle Enhanced High Income Shares ETF Class A Units (CRCY.TO). The values are adjusted to include any dividend payments, if applicable.

ZWP.TO vs. CRCY.TO - Yearly Performance Comparison

	2026 (YTD)	2025
ZWP.TO BMO Covered Call Europe High Dividend ETF	-1.05%	3.00%
CRCY.TO Harvest Circle Enhanced High Income Shares ETF Class A Units	1.83%	-45.43%

Returns By Period

In the year-to-date period, ZWP.TO achieves a -1.05% return, which is significantly lower than CRCY.TO's 1.83% return.

ZWP.TO

• 1D: 3.08%
• 1M: -6.60%
• YTD: -1.05%
• 6M: 3.22%
• 1Y: 10.36%
• 3Y*: 11.96%
• 5Y*: 10.64%
• 10Y*: —

CRCY.TO

• 1D: -0.55%
• 1M: 4.02%
• YTD: 1.83%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ZWP.TO vs. CRCY.TO - Expense Ratio Comparison

ZWP.TO

BMO Covered Call Europe High Dividend ETF

Return for Risk

ZWP.TO vs. CRCY.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ZWP.TO

ZWP.TO Risk / Return Rank: 34
ZWP.TO Sharpe Ratio Rank: 35
ZWP.TO Sortino Ratio Rank: 35
ZWP.TO Omega Ratio Rank: 34
ZWP.TO Calmar Ratio Rank: 34
ZWP.TO Martin Ratio Rank: 33

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.

ZWP.TO vs. CRCY.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Covered Call Europe High Dividend ETF (ZWP.TO) and Harvest Circle Enhanced High Income Shares ETF Class A Units (CRCY.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.

	ZWP.TO	CRCY.TO	Difference
Sharpe ratio Return per unit of total volatility	0.67	—	—
Sortino ratio Return per unit of downside risk	1.01	—	—
Omega ratio Gain probability vs. loss probability	1.14	—	—
Calmar ratio Return relative to maximum drawdown	0.86	—	—
Martin ratio Return relative to average drawdown	3.00	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	ZWP.TO	CRCY.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.67	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	-0.63	+1.06

Correlation

The correlation between ZWP.TO and CRCY.TO is 0.26, 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

ZWP.TO vs. CRCY.TO - Dividend Comparison

ZWP.TO's dividend yield for the trailing twelve months is around 6.39%, less than CRCY.TO's 26.84% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
ZWP.TO BMO Covered Call Europe High Dividend ETF	6.39%	6.22%	7.13%	7.23%	7.04%	6.45%	7.28%	6.92%	6.45%
CRCY.TO Harvest Circle Enhanced High Income Shares ETF Class A Units	26.84%	17.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

ZWP.TO vs. CRCY.TO - Drawdown Comparison

The maximum ZWP.TO drawdown since its inception was -30.71%, smaller than the maximum CRCY.TO drawdown of -73.84%. Use the drawdown chart below to compare losses from any high point for ZWP.TO and CRCY.TO.

Drawdown Indicators

	ZWP.TO	CRCY.TO	Difference
Max Drawdown Largest peak-to-trough decline	-30.71%	-73.84%	+43.13%
Max Drawdown (1Y) Largest decline over 1 year	-10.68%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.30%	—	—
Current Drawdown Current decline from peak	-7.08%	-53.95%	+46.87%
Average Drawdown Average peak-to-trough decline	-4.76%	-45.89%	+41.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.05%	—	—

Volatility

Volatility by Period

	ZWP.TO	CRCY.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.11%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.13%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.59%	111.28%	-95.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.95%	111.28%	-97.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.76%	111.28%	-95.52%