ZWQT.TO vs. XEQT.TO
ZWQT.TO (BMO Global Enhanced Income Fund Series ETF) and XEQT.TO (iShares Core Equity ETF Portfolio) are both exchange-traded funds - ZWQT.TO is a Global Allocation fund actively managed by BMO, while XEQT.TO is a Global Equities fund actively managed by iShares. Both are actively managed. Over the past 3 years, ZWQT.TO returned 18.53%/yr vs 22.95%/yr for XEQT.TO. A 0.62 correlation means they provide meaningful diversification when combined. ZWQT.TO charges 0.87%/yr vs 0.20%/yr for XEQT.TO.
Performance
ZWQT.TO vs. XEQT.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 XEQT.TO's 12.77% return.
ZWQT.TO
- 1D
- -0.15%
- 1M
- 1.06%
- YTD
- 14.52%
- 6M
- 14.99%
- 1Y
- 30.31%
- 3Y*
- 18.53%
- 5Y*
- —
- 10Y*
- —
XEQT.TO
- 1D
- -0.13%
- 1M
- 0.27%
- YTD
- 12.77%
- 6M
- 12.14%
- 1Y
- 28.80%
- 3Y*
- 22.95%
- 5Y*
- 13.55%
- 10Y*
- —
ZWQT.TO vs. XEQT.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% |
XEQT.TO iShares Core Equity ETF Portfolio | 12.77% | 20.57% | 24.38% | 9.04% |
Correlation
The correlation between ZWQT.TO and XEQT.TO is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2023 | 0.62 |
The correlation between ZWQT.TO and XEQT.TO has been stable across timeframes, ranging from 0.62 to 0.69 - a consistent structural relationship.
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Return for Risk
ZWQT.TO vs. XEQT.TO — Risk / Return Rank
ZWQT.TO
XEQT.TO
ZWQT.TO vs. XEQT.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 Equity ETF Portfolio (XEQT.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 | XEQT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.76 | ||
| Sortino ratioReturn per unit of downside risk | +1.19 | ||
| Omega ratioGain probability vs. loss probability | 1.61 | 1.44 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 5.57 | 3.51 | +2.06 |
| Martin ratioReturn relative to average drawdown | 22.94 | 15.04 | +7.90 |
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Drawdowns
ZWQT.TO vs. XEQT.TO - Drawdown Comparison
The maximum ZWQT.TO drawdown since its inception was -14.93%, smaller than the maximum XEQT.TO drawdown of -29.74%. Use the drawdown chart below to compare losses from any high point for ZWQT.TO and XEQT.TO.
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Drawdown Indicators
| ZWQT.TO | XEQT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.93% | -29.74% | +14.81% |
Max Drawdown (1Y)Largest decline over 1 year | -5.47% | -8.25% | +2.78% |
Max Drawdown (3Y)Largest decline over 3 years | -14.93% | -15.08% | +0.15% |
Max Drawdown (5Y)Largest decline over 5 years | — | -19.55% | — |
Current DrawdownCurrent decline from peak | -0.91% | -1.32% | +0.41% |
Average DrawdownAverage peak-to-trough decline | -1.47% | -4.07% | +2.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.32% | 1.92% | -0.60% |
Volatility
ZWQT.TO vs. XEQT.TO - Volatility Comparison
The current volatility for BMO Global Enhanced Income Fund Series ETF (ZWQT.TO) is 3.66%, while iShares Core Equity ETF Portfolio (XEQT.TO) has a volatility of 4.55%. This indicates that ZWQT.TO experiences smaller price fluctuations and is considered to be less risky than XEQT.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 | XEQT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.66% | 4.55% | -0.89% |
Volatility (6M)Calculated over the trailing 6-month period | 7.66% | 10.11% | -2.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.71% | 12.22% | -2.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.04% | 13.24% | -2.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.04% | 15.56% | -4.52% |
ZWQT.TO vs. XEQT.TO - Expense Ratio Comparison
ZWQT.TO has a 0.87% expense ratio, which is higher than XEQT.TO's 0.20% expense ratio.
Dividends
ZWQT.TO vs. XEQT.TO - Dividend Comparison
ZWQT.TO's dividend yield for the trailing twelve months is around 4.94%, more than XEQT.TO's 1.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
XEQT.TO iShares Core Equity ETF Portfolio | 1.48% | 1.66% | 2.03% | 2.09% | 2.14% | 1.66% | 1.69% | 1.21% |
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% |
Frequently Asked Questions
ZWQT.TO and XEQT.TO have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XEQT.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XEQT.TO is cheaper with a 0.20% expense ratio, compared with 0.87% for ZWQT.TO.
ZWQT.TO is categorized as Global Allocation, while XEQT.TO is Global Equities. They also come from different issuers: BMO and iShares. Their fees differ too: 0.87% for ZWQT.TO and 0.20% for XEQT.TO.
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