ZWP.TO vs. RPDH.TO
ZWP.TO (BMO Covered Call Europe High Dividend ETF) and RPDH.TO (RBC Quant European Dividend Leaders CAD Hedged ETF) are both Europe Equities funds. Both are actively managed. Over the past 5 years, ZWP.TO returned 10.71%/yr vs 13.55%/yr for RPDH.TO. At a 0.32 correlation, their price movements are largely independent.
Performance
ZWP.TO vs. RPDH.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZWP.TO achieves a 5.68% return, which is significantly lower than RPDH.TO's 16.11% return.
ZWP.TO
- 1D
- -0.72%
- 1M
- -0.67%
- 6M
- 2.79%
- YTD
- 5.68%
- 1Y
- 15.91%
- 3Y*
- 13.58%
- 5Y*
- 10.71%
- 10Y*
- —
RPDH.TO
- 1D
- -0.11%
- 1M
- -0.22%
- 6M
- 11.22%
- YTD
- 16.11%
- 1Y
- 32.10%
- 3Y*
- 21.26%
- 5Y*
- 13.55%
- 10Y*
- 9.97%
ZWP.TO vs. RPDH.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ZWP.TO BMO Covered Call Europe High Dividend ETF | 5.68% | 22.37% | 8.60% | 16.33% | -0.97% | 12.69% | -3.55% | 13.15% | -8.57% |
RPDH.TO RBC Quant European Dividend Leaders CAD Hedged ETF | 16.11% | 30.87% | 7.58% | 17.83% | -6.14% | 23.21% | -7.43% | 17.35% | -5.59% |
Correlation
The correlation between ZWP.TO and RPDH.TO is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2018 | 0.32 |
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Return for Risk
ZWP.TO vs. RPDH.TO — Risk / Return Rank
ZWP.TO
RPDH.TO
ZWP.TO vs. RPDH.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 RBC Quant European Dividend Leaders CAD Hedged ETF (RPDH.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ZWP.TO | RPDH.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.62 | ||
| Sortino ratioReturn per unit of downside risk | -2.39 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.59 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | 4.13 | -2.63 |
| Martin ratioReturn relative to average drawdown | 5.07 | 16.20 | -11.13 |
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Drawdowns
ZWP.TO vs. RPDH.TO - Drawdown Comparison
The maximum ZWP.TO drawdown since its inception was -30.71%, smaller than the maximum RPDH.TO drawdown of -36.38%. Use the drawdown chart below to compare losses from any high point for ZWP.TO and RPDH.TO.
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Drawdown Indicators
| ZWP.TO | RPDH.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.71% | -36.38% | +5.67% |
Max Drawdown (1Y)Largest decline over 1 year | -10.68% | -7.81% | -2.87% |
Max Drawdown (3Y)Largest decline over 3 years | -14.04% | -13.56% | -0.48% |
Max Drawdown (5Y)Largest decline over 5 years | -19.30% | -19.22% | -0.08% |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.38% | — |
Current DrawdownCurrent decline from peak | -2.63% | -1.27% | -1.36% |
Average DrawdownAverage peak-to-trough decline | -4.69% | -5.09% | +0.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.15% | 1.99% | +1.16% |
Volatility
ZWP.TO vs. RPDH.TO - Volatility Comparison
BMO Covered Call Europe High Dividend ETF (ZWP.TO) and RBC Quant European Dividend Leaders CAD Hedged ETF (RPDH.TO) have volatilities of 2.85% and 2.85%, 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
| ZWP.TO | RPDH.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.85% | 2.85% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 10.92% | 9.14% | +1.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.13% | 11.38% | +1.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.13% | 13.86% | +0.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.68% | 16.12% | -0.44% |
Dividends
ZWP.TO vs. RPDH.TO - Dividend Comparison
ZWP.TO's dividend yield for the trailing twelve months is around 6.12%, more than RPDH.TO's 3.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RPDH.TO RBC Quant European Dividend Leaders CAD Hedged ETF | 3.01% | 3.08% | 3.71% | 3.42% | 4.00% | 2.38% | 3.27% | 5.42% | 5.06% | 2.91% | 3.80% | 3.08% |
ZWP.TO BMO Covered Call Europe High Dividend ETF | 6.12% | 6.22% | 7.13% | 7.23% | 7.04% | 6.45% | 7.28% | 6.92% | 6.45% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZWP.TO and RPDH.TO have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: BMO and RBC.
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