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ZWQT.TO vs. ZAG.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

ZWQT.TO vs. ZAG.TO

Last updated Apr 2, 2026

Compare and contrast key facts about BMO Global Enhanced Income Fund Series ETF (ZWQT.TO) and BMO Aggregate Bond Index ETF (ZAG.TO).

ZWQT.TO and ZAG.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZWQT.TO is an actively managed fund by BMO. It was launched on Jun 19, 2023. ZAG.TO is a passively managed fund by BMO that tracks the performance of the FTSE Canada Universe Bond Index. It was launched on Jan 19, 2010.

Performance

ZWQT.TO vs. ZAG.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Global Enhanced Income Fund Series ETF (ZWQT.TO) and BMO Aggregate Bond Index ETF (ZAG.TO). The values are adjusted to include any dividend payments, if applicable.

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ZWQT.TO vs. ZAG.TO - Yearly Performance Comparison

2026 (YTD)202520242023
ZWQT.TO
BMO Global Enhanced Income Fund Series ETF		2.75%14.08%17.82%8.19%
ZAG.TO
BMO Aggregate Bond Index ETF		-0.11%2.25%4.48%5.10%

Returns By Period

In the year-to-date period, ZWQT.TO achieves a 2.75% return, which is significantly higher than ZAG.TO's -0.11% return.

ZWQT.TO

1D
2.02%
1M
-1.80%
YTD
2.75%
6M
6.56%
1Y
16.40%
3Y*
—
5Y*
—
10Y*
—

ZAG.TO

1D
-0.15%
1M
-1.81%
YTD
-0.11%
6M
-0.19%
1Y
0.05%
3Y*
3.29%
5Y*
0.55%
10Y*
1.65%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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BMO Global Enhanced Income Fund Series ETF

BMO Aggregate Bond Index ETF

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Often compared with ZAG.TO:
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ZWQT.TO vs. ZAG.TO - Expense Ratio Comparison

ZWQT.TO has a 0.87% expense ratio, which is higher than ZAG.TO's 0.09% expense ratio.

ZWQT.TO
BMO Global Enhanced Income Fund Series ETF
ZAG.TO
BMO Aggregate Bond Index ETF

Return for Risk

ZWQT.TO vs. ZAG.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZWQT.TO
ZWQT.TO Risk / Return Rank: 5757
Overall Rank
ZWQT.TO Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
ZWQT.TO Sortino Ratio Rank: 5858
Sortino Ratio Rank
ZWQT.TO Omega Ratio Rank: 6767
Omega Ratio Rank
ZWQT.TO Calmar Ratio Rank: 4545
Calmar Ratio Rank
ZWQT.TO Martin Ratio Rank: 5555
Martin Ratio Rank
ZAG.TO
ZAG.TO Risk / Return Rank: 1212
Overall Rank
ZAG.TO Sharpe Ratio Rank: 1212
Sharpe Ratio Rank
ZAG.TO Sortino Ratio Rank: 1010
Sortino Ratio Rank
ZAG.TO Omega Ratio Rank: 1010
Omega Ratio Rank
ZAG.TO Calmar Ratio Rank: 1515
Calmar Ratio Rank
ZAG.TO Martin Ratio Rank: 1414
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ZWQT.TO vs. ZAG.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 BMO Aggregate Bond Index ETF (ZAG.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.

ZWQT.TOZAG.TODifference

Sharpe ratio

Return per unit of total volatility

1.13

0.01

+1.12

Sortino ratio

Return per unit of downside risk

1.59

0.05

+1.54

Omega ratio

Gain probability vs. loss probability

1.26

1.01

+0.26

Calmar ratio

Return relative to maximum drawdown

1.37

0.14

+1.22

Martin ratio

Return relative to average drawdown

6.16

0.29

+5.87

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZWQT.TO vs. ZAG.TO - Sharpe Ratio Comparison

The current ZWQT.TO Sharpe Ratio is 1.13, which is higher than the ZAG.TO Sharpe Ratio of 0.01. The chart below compares the historical Sharpe Ratios of ZWQT.TO and ZAG.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

ZWQT.TOZAG.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.13

0.01

+1.12

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.08

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.23

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.43

0.44

+0.99

Correlation

The correlation between ZWQT.TO and ZAG.TO is 0.15, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

ZWQT.TO vs. ZAG.TO - Dividend Comparison

ZWQT.TO's dividend yield for the trailing twelve months is around 5.46%, more than ZAG.TO's 3.49% yield.

TTM20252024202320222021202020192018201720162015
ZWQT.TO
BMO Global Enhanced Income Fund Series ETF		5.46%5.54%5.96%3.30%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
ZAG.TO
BMO Aggregate Bond Index ETF		3.49%3.48%3.44%3.47%3.56%3.04%2.88%3.03%2.92%2.95%3.07%3.13%

Drawdowns

ZWQT.TO vs. ZAG.TO - Drawdown Comparison

The maximum ZWQT.TO drawdown since its inception was -14.93%, smaller than the maximum ZAG.TO drawdown of -18.03%. Use the drawdown chart below to compare losses from any high point for ZWQT.TO and ZAG.TO.

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Drawdown Indicators

ZWQT.TOZAG.TODifference

Max Drawdown

Largest peak-to-trough decline

-14.93%

-18.03%

+3.10%

Max Drawdown (1Y)

Largest decline over 1 year

-11.71%

-2.79%

-8.92%

Max Drawdown (5Y)

Largest decline over 5 years

—

-15.77%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-18.03%

—

Current Drawdown

Current decline from peak

-2.31%

-2.85%

+0.54%

Average Drawdown

Average peak-to-trough decline

-1.54%

-3.56%

+2.02%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.60%

1.41%

+1.19%

Volatility

ZWQT.TO vs. ZAG.TO - Volatility Comparison

BMO Global Enhanced Income Fund Series ETF (ZWQT.TO) has a higher volatility of 3.95% compared to BMO Aggregate Bond Index ETF (ZAG.TO) at 1.91%. This indicates that ZWQT.TO's price experiences larger fluctuations and is considered to be riskier than ZAG.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.TOZAG.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.95%

1.91%

+2.04%

Volatility (6M)

Calculated over the trailing 6-month period

7.05%

2.97%

+4.08%

Volatility (1Y)

Calculated over the trailing 1-year period

14.52%

4.65%

+9.87%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.00%

6.53%

+4.47%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.00%

7.09%

+3.91%