ZWQT.TO vs. ZWC.TO
ZWQT.TO (BMO Global Enhanced Income Fund Series ETF) and ZWC.TO (BMO CA High Dividend Covered Call ETF) are both exchange-traded funds - ZWQT.TO is a Global Allocation fund actively managed by BMO, while ZWC.TO is a Derivative Income fund actively managed by BMO. Both are actively managed. Over the past year, ZWQT.TO returned 30.83% vs 29.76% for ZWC.TO. A 0.52 correlation means they provide meaningful diversification when combined. ZWQT.TO charges 0.87%/yr vs 0.91%/yr for ZWC.TO.
Performance
ZWQT.TO vs. ZWC.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZWQT.TO achieves a 13.46% return, which is significantly higher than ZWC.TO's 12.26% return.
ZWQT.TO
- 1D
- -0.20%
- 1M
- 6.80%
- YTD
- 13.46%
- 6M
- 14.11%
- 1Y
- 30.83%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZWC.TO
- 1D
- 1.03%
- 1M
- 3.11%
- YTD
- 12.26%
- 6M
- 13.20%
- 1Y
- 29.76%
- 3Y*
- 17.80%
- 5Y*
- 11.31%
- 10Y*
- —
ZWQT.TO vs. ZWC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ZWQT.TO BMO Global Enhanced Income Fund Series ETF | 13.46% | 14.08% | 17.82% | 8.19% |
ZWC.TO BMO CA High Dividend Covered Call ETF | 12.26% | 22.79% | 12.00% | 8.01% |
Correlation
The correlation between ZWQT.TO and ZWC.TO is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2023 | 0.52 |
The correlation between ZWQT.TO and ZWC.TO has been stable across timeframes, ranging from 0.49 to 0.52 - a consistent structural relationship.
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Return for Risk
ZWQT.TO vs. ZWC.TO — Risk / Return Rank
ZWQT.TO
ZWC.TO
ZWQT.TO vs. ZWC.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 CA High Dividend Covered Call ETF (ZWC.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.TO | ZWC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.51 | ||
| Sortino ratioReturn per unit of downside risk | -0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.65 | 1.73 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 5.66 | 4.99 | +0.67 |
| Martin ratioReturn relative to average drawdown | 23.85 | 24.65 | -0.80 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ZWQT.TO | ZWC.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.30 | 3.81 | -0.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.12 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.71 | 0.56 | +1.14 |
Drawdowns
ZWQT.TO vs. ZWC.TO - Drawdown Comparison
The maximum ZWQT.TO drawdown since its inception was -14.93%, smaller than the maximum ZWC.TO drawdown of -40.57%. Use the drawdown chart below to compare losses from any high point for ZWQT.TO and ZWC.TO.
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Drawdown Indicators
| ZWQT.TO | ZWC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.93% | -40.57% | +25.64% |
Max Drawdown (1Y)Largest decline over 1 year | -5.47% | -5.99% | +0.52% |
Max Drawdown (3Y)Largest decline over 3 years | — | -9.09% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.43% | — |
Current DrawdownCurrent decline from peak | -0.20% | 0.00% | -0.20% |
Average DrawdownAverage peak-to-trough decline | -1.47% | -4.69% | +3.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.30% | 1.21% | +0.09% |
Volatility
ZWQT.TO vs. ZWC.TO - Volatility Comparison
BMO Global Enhanced Income Fund Series ETF (ZWQT.TO) has a higher volatility of 3.22% compared to BMO CA High Dividend Covered Call ETF (ZWC.TO) at 2.51%. This indicates that ZWQT.TO's price experiences larger fluctuations and is considered to be riskier than ZWC.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 | ZWC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.22% | 2.51% | +0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 7.02% | 6.83% | +0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.40% | 7.86% | +1.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.92% | 10.14% | +0.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.92% | 14.94% | -4.02% |
ZWQT.TO vs. ZWC.TO - Expense Ratio Comparison
ZWQT.TO has a 0.87% expense ratio, which is lower than ZWC.TO's 0.91% expense ratio.
Dividends
ZWQT.TO vs. ZWC.TO - Dividend Comparison
ZWQT.TO's dividend yield for the trailing twelve months is around 4.99%, less than ZWC.TO's 5.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
ZWC.TO BMO CA High Dividend Covered Call ETF | 5.58% | 5.92% | 6.73% | 7.62% | 7.01% | 6.60% | 8.15% | 6.92% | 7.11% | 5.46% |
ZWQT.TO BMO Global Enhanced Income Fund Series ETF | 4.99% | 5.54% | 5.96% | 3.30% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZWQT.TO and ZWC.TO have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZWQT.TO is cheaper at 0.87% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZWQT.TO is cheaper with a 0.87% expense ratio, compared with 0.91% for ZWC.TO.
ZWQT.TO is categorized as Global Allocation, while ZWC.TO is Derivative Income. Their fees differ too: 0.87% for ZWQT.TO and 0.91% for ZWC.TO.
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