ZWQT.TO vs. XEI.TO
ZWQT.TO (BMO Global Enhanced Income Fund Series ETF) and XEI.TO (iShares S&P/TSX Composite High Dividend Index ETF) are both exchange-traded funds - ZWQT.TO is a Global Allocation fund actively managed by BMO, while XEI.TO is a Canada Equities fund tracking the S&P/TSX Composite High Dividend Index. ZWQT.TO is actively managed, while XEI.TO is passively managed. Over the past 3 years, ZWQT.TO returned 18.53%/yr vs 22.55%/yr for XEI.TO. At a 0.44 correlation, their price movements are largely independent. ZWQT.TO charges 0.87%/yr vs 0.22%/yr for XEI.TO.
Performance
ZWQT.TO vs. XEI.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 lower than XEI.TO's 23.00% return.
ZWQT.TO
- 1D
- -0.15%
- 1M
- 1.06%
- YTD
- 14.52%
- 6M
- 14.99%
- 1Y
- 30.31%
- 3Y*
- 18.53%
- 5Y*
- —
- 10Y*
- —
XEI.TO
- 1D
- -0.66%
- 1M
- 0.20%
- YTD
- 23.00%
- 6M
- 21.19%
- 1Y
- 38.28%
- 3Y*
- 22.55%
- 5Y*
- 14.58%
- 10Y*
- 12.00%
ZWQT.TO vs. XEI.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% |
XEI.TO iShares S&P/TSX Composite High Dividend Index ETF | 23.00% | 20.86% | 15.26% | 6.24% |
Correlation
The correlation between ZWQT.TO and XEI.TO is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2023 | 0.44 |
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Return for Risk
ZWQT.TO vs. XEI.TO — Risk / Return Rank
ZWQT.TO
XEI.TO
ZWQT.TO vs. XEI.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 S&P/TSX Composite High Dividend Index ETF (XEI.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 | XEI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.73 | ||
| Sortino ratioReturn per unit of downside risk | -2.24 | ||
| Omega ratioGain probability vs. loss probability | 1.61 | 1.96 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 5.57 | 9.12 | -3.55 |
| Martin ratioReturn relative to average drawdown | 22.94 | 40.65 | -17.71 |
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Drawdowns
ZWQT.TO vs. XEI.TO - Drawdown Comparison
The maximum ZWQT.TO drawdown since its inception was -14.93%, smaller than the maximum XEI.TO drawdown of -45.52%. Use the drawdown chart below to compare losses from any high point for ZWQT.TO and XEI.TO.
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Drawdown Indicators
| ZWQT.TO | XEI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.93% | -45.52% | +30.59% |
Max Drawdown (1Y)Largest decline over 1 year | -5.47% | -4.22% | -1.25% |
Max Drawdown (3Y)Largest decline over 3 years | -14.93% | -9.96% | -4.97% |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.35% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.52% | — |
Current DrawdownCurrent decline from peak | -0.91% | -1.06% | +0.15% |
Average DrawdownAverage peak-to-trough decline | -1.47% | -5.09% | +3.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.32% | 0.94% | +0.38% |
Volatility
ZWQT.TO vs. XEI.TO - Volatility Comparison
BMO Global Enhanced Income Fund Series ETF (ZWQT.TO) has a higher volatility of 3.66% compared to iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) at 2.56%. This indicates that ZWQT.TO's price experiences larger fluctuations and is considered to be riskier than XEI.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 | XEI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.66% | 2.56% | +1.10% |
Volatility (6M)Calculated over the trailing 6-month period | 7.66% | 6.70% | +0.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.71% | 7.91% | +1.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.04% | 11.29% | -0.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.04% | 16.01% | -4.97% |
ZWQT.TO vs. XEI.TO - Expense Ratio Comparison
ZWQT.TO has a 0.87% expense ratio, which is higher than XEI.TO's 0.22% expense ratio.
Dividends
ZWQT.TO vs. XEI.TO - Dividend Comparison
ZWQT.TO's dividend yield for the trailing twelve months is around 4.94%, more than XEI.TO's 3.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XEI.TO iShares S&P/TSX Composite High Dividend Index ETF | 3.57% | 4.47% | 5.45% | 4.97% | 4.68% | 3.58% | 5.03% | 4.62% | 5.42% | 4.29% | 4.41% | 5.64% |
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 XEI.TO have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XEI.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XEI.TO is cheaper with a 0.22% expense ratio, compared with 0.87% for ZWQT.TO.
ZWQT.TO is categorized as Global Allocation, while XEI.TO is Canada Equities. They also come from different issuers: BMO and iShares. Their fees differ too: 0.87% for ZWQT.TO and 0.22% for XEI.TO.
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