ZWQT.TO vs. ZGRO.TO
ZWQT.TO (BMO Global Enhanced Income Fund Series ETF) and ZGRO.TO (BMO Growth ETF) are both Global Allocation funds from BMO. Both are actively managed. Over the past 3 years, ZWQT.TO returned 18.53%/yr vs 23.01%/yr for ZGRO.TO. A 0.61 correlation means they provide meaningful diversification when combined. ZWQT.TO charges 0.87%/yr vs 0.18%/yr for ZGRO.TO.
Performance
ZWQT.TO vs. ZGRO.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 ZGRO.TO's 10.93% return.
ZWQT.TO
- 1D
- -0.15%
- 1M
- 1.06%
- YTD
- 14.52%
- 6M
- 14.99%
- 1Y
- 30.31%
- 3Y*
- 18.53%
- 5Y*
- —
- 10Y*
- —
ZGRO.TO
- 1D
- 0.00%
- 1M
- 0.16%
- YTD
- 10.93%
- 6M
- 10.40%
- 1Y
- 25.31%
- 3Y*
- 23.01%
- 5Y*
- 15.61%
- 10Y*
- —
ZWQT.TO vs. ZGRO.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% |
ZGRO.TO BMO Growth ETF | 10.93% | 18.65% | 25.70% | 11.94% |
Correlation
The correlation between ZWQT.TO and ZGRO.TO is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2023 | 0.61 |
The correlation between ZWQT.TO and ZGRO.TO has been stable across timeframes, ranging from 0.61 to 0.62 - a consistent structural relationship.
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Return for Risk
ZWQT.TO vs. ZGRO.TO — Risk / Return Rank
ZWQT.TO
ZGRO.TO
ZWQT.TO vs. ZGRO.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 Growth ETF (ZGRO.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 | ZGRO.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.98 | ||
| Sortino ratioReturn per unit of downside risk | +1.41 | ||
| Omega ratioGain probability vs. loss probability | 1.61 | 1.40 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 5.57 | 3.70 | +1.87 |
| Martin ratioReturn relative to average drawdown | 22.94 | 14.49 | +8.45 |
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Drawdowns
ZWQT.TO vs. ZGRO.TO - Drawdown Comparison
The maximum ZWQT.TO drawdown since its inception was -14.93%, smaller than the maximum ZGRO.TO drawdown of -24.67%. Use the drawdown chart below to compare losses from any high point for ZWQT.TO and ZGRO.TO.
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Drawdown Indicators
| ZWQT.TO | ZGRO.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.93% | -24.67% | +9.74% |
Max Drawdown (1Y)Largest decline over 1 year | -5.47% | -6.87% | +1.40% |
Max Drawdown (3Y)Largest decline over 3 years | -14.93% | -11.60% | -3.33% |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.21% | — |
Current DrawdownCurrent decline from peak | -0.91% | -2.43% | +1.52% |
Average DrawdownAverage peak-to-trough decline | -1.47% | -2.49% | +1.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.32% | 1.75% | -0.43% |
Volatility
ZWQT.TO vs. ZGRO.TO - Volatility Comparison
The current volatility for BMO Global Enhanced Income Fund Series ETF (ZWQT.TO) is 3.66%, while BMO Growth ETF (ZGRO.TO) has a volatility of 5.05%. This indicates that ZWQT.TO experiences smaller price fluctuations and is considered to be less risky than ZGRO.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 | ZGRO.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.66% | 5.05% | -1.39% |
Volatility (6M)Calculated over the trailing 6-month period | 7.66% | 9.91% | -2.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.71% | 11.83% | -2.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.04% | 11.18% | -0.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.04% | 13.19% | -2.15% |
ZWQT.TO vs. ZGRO.TO - Expense Ratio Comparison
ZWQT.TO has a 0.87% expense ratio, which is higher than ZGRO.TO's 0.18% expense ratio.
Dividends
ZWQT.TO vs. ZGRO.TO - Dividend Comparison
ZWQT.TO's dividend yield for the trailing twelve months is around 4.94%, more than ZGRO.TO's 2.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
ZGRO.TO BMO Growth ETF | 2.24% | 3.38% | 5.76% | 6.81% | 7.63% | 6.65% | 7.47% | 6.95% |
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 ZGRO.TO have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZGRO.TO is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZGRO.TO is cheaper with a 0.18% expense ratio, compared with 0.87% for ZWQT.TO.
Their fees differ too: 0.87% for ZWQT.TO and 0.18% for ZGRO.TO.
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