ZWQT.TO vs. XDG.TO
ZWQT.TO (BMO Global Enhanced Income Fund Series ETF) and XDG.TO (iShares Core MSCI Global Quality Dividend Index ETF) are both exchange-traded funds - ZWQT.TO is a Global Allocation fund actively managed by BMO, while XDG.TO is a Global Equities fund tracking the Morningstar Gbl GR CAD. ZWQT.TO is actively managed, while XDG.TO is passively managed. Over the past 3 years, ZWQT.TO returned 18.53%/yr vs 15.76%/yr for XDG.TO. A 0.56 correlation means they provide meaningful diversification when combined. ZWQT.TO charges 0.87%/yr vs 0.22%/yr for XDG.TO.
Performance
ZWQT.TO vs. XDG.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZWQT.TO achieves a 14.52% return, which is significantly higher than XDG.TO's 12.19% return.
ZWQT.TO
- 1D
- -0.15%
- 1M
- 1.06%
- YTD
- 14.52%
- 6M
- 14.99%
- 1Y
- 30.31%
- 3Y*
- 18.53%
- 5Y*
- —
- 10Y*
- —
XDG.TO
- 1D
- 0.64%
- 1M
- 0.85%
- YTD
- 12.19%
- 6M
- 10.60%
- 1Y
- 20.71%
- 3Y*
- 15.76%
- 5Y*
- 11.08%
- 10Y*
- —
ZWQT.TO vs. XDG.TO - 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% |
XDG.TO iShares Core MSCI Global Quality Dividend Index ETF | 12.19% | 12.26% | 14.74% | 6.59% |
Correlation
The correlation between ZWQT.TO and XDG.TO 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 | 0.56 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2023 | 0.56 |
The correlation between ZWQT.TO and XDG.TO has been stable across timeframes, ranging from 0.53 to 0.56 - a consistent structural relationship.
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Return for Risk
ZWQT.TO vs. XDG.TO — Risk / Return Rank
ZWQT.TO
XDG.TO
ZWQT.TO vs. XDG.TO - 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 MSCI Global Quality Dividend Index ETF (XDG.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.
| ZWQT.TO | XDG.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.14 | ||
| Sortino ratioReturn per unit of downside risk | +1.57 | ||
| Omega ratioGain probability vs. loss probability | 1.61 | 1.34 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 5.57 | 2.64 | +2.92 |
| Martin ratioReturn relative to average drawdown | 22.94 | 9.37 | +13.56 |
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Drawdowns
ZWQT.TO vs. XDG.TO - Drawdown Comparison
The maximum ZWQT.TO drawdown since its inception was -14.93%, smaller than the maximum XDG.TO drawdown of -27.08%. Use the drawdown chart below to compare losses from any high point for ZWQT.TO and XDG.TO.
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Drawdown Indicators
| ZWQT.TO | XDG.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.93% | -27.08% | +12.15% |
Max Drawdown (1Y)Largest decline over 1 year | -5.47% | -7.87% | +2.40% |
Max Drawdown (3Y)Largest decline over 3 years | -14.93% | -12.33% | -2.60% |
Max Drawdown (5Y)Largest decline over 5 years | — | -12.33% | — |
Current DrawdownCurrent decline from peak | -0.91% | 0.00% | -0.91% |
Average DrawdownAverage peak-to-trough decline | -1.47% | -3.12% | +1.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.32% | 2.21% | -0.89% |
Volatility
ZWQT.TO vs. XDG.TO - Volatility Comparison
BMO Global Enhanced Income Fund Series ETF (ZWQT.TO) has a higher volatility of 3.66% compared to iShares Core MSCI Global Quality Dividend Index ETF (XDG.TO) at 2.62%. This indicates that ZWQT.TO's price experiences larger fluctuations and is considered to be riskier than XDG.TO 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 | XDG.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.66% | 2.62% | +1.04% |
Volatility (6M)Calculated over the trailing 6-month period | 7.66% | 8.24% | -0.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.71% | 10.46% | -0.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.04% | 11.10% | -0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.04% | 13.86% | -2.82% |
ZWQT.TO vs. XDG.TO - Expense Ratio Comparison
ZWQT.TO has a 0.87% expense ratio, which is higher than XDG.TO's 0.22% expense ratio.
Dividends
ZWQT.TO vs. XDG.TO - Dividend Comparison
ZWQT.TO's dividend yield for the trailing twelve months is around 4.94%, more than XDG.TO's 2.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
XDG.TO iShares Core MSCI Global Quality Dividend Index ETF | 2.75% | 2.92% | 2.96% | 3.13% | 3.27% | 2.97% | 3.27% | 3.18% | 3.47% | 1.67% |
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% |
Frequently Asked Questions
ZWQT.TO and XDG.TO 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, XDG.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XDG.TO is cheaper with a 0.22% expense ratio, compared with 0.87% for ZWQT.TO.
ZWQT.TO is categorized as Global Allocation, while XDG.TO is Global Equities. They also come from different issuers: BMO and iShares. Their fees differ too: 0.87% for ZWQT.TO and 0.22% for XDG.TO.
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