ZWQT.TO vs. DGRO
ZWQT.TO (BMO Global Enhanced Income Fund Series ETF) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - ZWQT.TO is a Global Allocation fund actively managed by BMO, while DGRO is a Large Cap Growth Equities fund tracking the Morningstar US Dividend Growth Index. ZWQT.TO is actively managed, while DGRO is passively managed. Over the past 3 years, ZWQT.TO returned 18.53%/yr vs 20.06%/yr for DGRO. At a 0.47 correlation, their price movements are largely independent. ZWQT.TO charges 0.87%/yr vs 0.08%/yr for DGRO.
Performance
ZWQT.TO vs. DGRO - Performance Comparison
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Different Trading Currencies
ZWQT.TO is traded in CAD, while DGRO is traded in USD. To make them comparable, the DGRO values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, ZWQT.TO achieves a 14.52% return, which is significantly higher than DGRO's 13.48% return.
ZWQT.TO
- 1D
- -0.15%
- 1M
- 1.06%
- YTD
- 14.52%
- 6M
- 14.99%
- 1Y
- 30.31%
- 3Y*
- 18.53%
- 5Y*
- —
- 10Y*
- —
DGRO
- 1D
- 0.52%
- 1M
- 4.14%
- YTD
- 13.48%
- 6M
- 12.33%
- 1Y
- 25.76%
- 3Y*
- 20.06%
- 5Y*
- 14.09%
- 10Y*
- 14.80%
ZWQT.TO vs. DGRO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ZWQT.TO BMO Global Enhanced Income Fund Series ETF | 14.52% | 14.08% | 17.82% | 6.60% |
DGRO iShares Core Dividend Growth ETF | 13.48% | 10.41% | 26.49% | 8.12% |
Correlation
The correlation between ZWQT.TO and DGRO is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2023 | 0.47 |
The correlation between ZWQT.TO and DGRO has been stable across timeframes, ranging from 0.47 to 0.53 - a consistent structural relationship.
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Return for Risk
ZWQT.TO vs. DGRO — Risk / Return Rank
ZWQT.TO
DGRO
ZWQT.TO vs. DGRO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Global Enhanced Income Fund Series ETF (ZWQT.TO) and iShares Core Dividend Growth ETF (DGRO). 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.
| ZWQT.TO | DGRO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.61 | ||
| Sortino ratioReturn per unit of downside risk | +0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.61 | 1.45 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 5.57 | 4.20 | +1.37 |
| Martin ratioReturn relative to average drawdown | 22.94 | 15.62 | +7.32 |
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Drawdowns
ZWQT.TO vs. DGRO - Drawdown Comparison
The maximum ZWQT.TO drawdown since its inception was -14.93%, smaller than the maximum DGRO drawdown of -29.39%. Use the drawdown chart below to compare losses from any high point for ZWQT.TO and DGRO.
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Drawdown Indicators
| ZWQT.TO | DGRO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.93% | -29.39% | +14.46% |
Max Drawdown (1Y)Largest decline over 1 year | -5.47% | -6.16% | +0.69% |
Max Drawdown (3Y)Largest decline over 3 years | -14.93% | -15.15% | +0.22% |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.54% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -29.39% | — |
Current DrawdownCurrent decline from peak | -0.91% | 0.00% | -0.91% |
Average DrawdownAverage peak-to-trough decline | -1.47% | -3.05% | +1.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.32% | 1.65% | -0.33% |
Volatility
ZWQT.TO vs. DGRO - Volatility Comparison
BMO Global Enhanced Income Fund Series ETF (ZWQT.TO) has a higher volatility of 3.66% compared to iShares Core Dividend Growth ETF (DGRO) at 2.75%. This indicates that ZWQT.TO's price experiences larger fluctuations and is considered to be riskier than DGRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZWQT.TO | DGRO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.66% | 2.75% | +0.91% |
Volatility (6M)Calculated over the trailing 6-month period | 7.66% | 7.82% | -0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.71% | 10.27% | -0.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.04% | 15.02% | -3.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.04% | 17.73% | -6.69% |
ZWQT.TO vs. DGRO - Expense Ratio Comparison
ZWQT.TO has a 0.87% expense ratio, which is higher than DGRO's 0.08% expense ratio.
Dividends
ZWQT.TO vs. DGRO - Dividend Comparison
ZWQT.TO's dividend yield for the trailing twelve months is around 4.94%, more than DGRO's 1.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DGRO iShares Core Dividend Growth ETF | 1.96% | 2.09% | 2.26% | 2.45% | 2.34% | 1.93% | 2.30% | 2.21% | 2.44% | 2.03% | 2.27% | 2.52% |
ZWQT.TO BMO Global Enhanced Income Fund Series ETF | 4.94% | 5.54% | 5.96% | 3.30% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZWQT.TO and DGRO have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DGRO is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DGRO is cheaper with a 0.08% expense ratio, compared with 0.87% for ZWQT.TO.
ZWQT.TO is categorized as Global Allocation, while DGRO is Large Cap Growth Equities. They also come from different issuers: BMO and iShares. Their fees differ too: 0.87% for ZWQT.TO and 0.08% for DGRO.
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