ZWT.TO vs. INAI.TO
ZWT.TO (BMO Covered Call Technology ETF) and INAI.TO (Invesco Morningstar Global Next Gen AI Index ETF) are both Technology Equities funds. ZWT.TO is actively managed, while INAI.TO is passively managed. Over the past year, ZWT.TO returned 30.88% vs 39.33% for INAI.TO. A 0.65 correlation means they provide meaningful diversification when combined. ZWT.TO charges 0.71%/yr vs 0.60%/yr for INAI.TO.
Performance
ZWT.TO vs. INAI.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ZWT.TO achieves a 16.20% return, which is significantly lower than INAI.TO's 27.50% return.
ZWT.TO
- 1D
- -0.80%
- 1M
- -1.69%
- 6M
- 14.81%
- YTD
- 16.20%
- 1Y
- 30.88%
- 3Y*
- 32.15%
- 5Y*
- 20.18%
- 10Y*
- —
INAI.TO
- 1D
- -1.15%
- 1M
- -5.79%
- 6M
- 21.81%
- YTD
- 27.50%
- 1Y
- 39.33%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZWT.TO vs. INAI.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ZWT.TO BMO Covered Call Technology ETF | 16.20% | 18.15% | 40.41% |
INAI.TO Invesco Morningstar Global Next Gen AI Index ETF | 27.50% | 24.92% | 36.26% |
Correlation
The correlation between ZWT.TO and INAI.TO is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Jan 22, 2024 | 0.65 |
The correlation between ZWT.TO and INAI.TO shifts across timeframes, from 0.65 (all time) to 0.83 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ZWT.TO vs. INAI.TO — Risk / Return Rank
ZWT.TO
INAI.TO
ZWT.TO vs. INAI.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Covered Call Technology ETF (ZWT.TO) and Invesco Morningstar Global Next Gen AI Index ETF (INAI.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.
| ZWT.TO | INAI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.24 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.95 | 1.56 | +0.39 |
| Martin ratioReturn relative to average drawdown | 6.04 | 4.02 | +2.02 |
Loading charts...
Drawdowns
ZWT.TO vs. INAI.TO - Drawdown Comparison
The maximum ZWT.TO drawdown since its inception was -35.84%, which is greater than INAI.TO's maximum drawdown of -26.78%. Use the drawdown chart below to compare losses from any high point for ZWT.TO and INAI.TO.
Loading charts...
Drawdown Indicators
| ZWT.TO | INAI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.84% | -26.78% | -9.06% |
Max Drawdown (1Y)Largest decline over 1 year | -15.93% | -25.34% | +9.41% |
Max Drawdown (3Y)Largest decline over 3 years | -26.27% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -35.84% | — | — |
Current DrawdownCurrent decline from peak | -3.51% | -9.12% | +5.61% |
Average DrawdownAverage peak-to-trough decline | -8.72% | -5.69% | -3.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.12% | 9.81% | -4.69% |
Volatility
ZWT.TO vs. INAI.TO - Volatility Comparison
The current volatility for BMO Covered Call Technology ETF (ZWT.TO) is 7.69%, while Invesco Morningstar Global Next Gen AI Index ETF (INAI.TO) has a volatility of 9.38%. This indicates that ZWT.TO experiences smaller price fluctuations and is considered to be less risky than INAI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ZWT.TO | INAI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.69% | 9.38% | -1.69% |
Volatility (6M)Calculated over the trailing 6-month period | 16.48% | 23.47% | -6.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.25% | 29.45% | -9.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.64% | 27.98% | -4.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.16% | 27.98% | -4.82% |
ZWT.TO vs. INAI.TO - Expense Ratio Comparison
ZWT.TO has a 0.71% expense ratio, which is higher than INAI.TO's 0.60% expense ratio.
Dividends
ZWT.TO vs. INAI.TO - Dividend Comparison
ZWT.TO's dividend yield for the trailing twelve months is around 4.59%, more than INAI.TO's 0.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
INAI.TO Invesco Morningstar Global Next Gen AI Index ETF | 0.02% | 0.07% | 0.14% | 0.00% | 0.00% | 0.00% |
ZWT.TO BMO Covered Call Technology ETF | 4.59% | 4.46% | 3.34% | 3.83% | 6.54% | 4.00% |
Frequently Asked Questions
ZWT.TO and INAI.TO have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, INAI.TO is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.
INAI.TO is cheaper with a 0.60% expense ratio, compared with 0.71% for ZWT.TO.
They also come from different issuers: BMO and Invesco. Their fees differ too: 0.71% for ZWT.TO and 0.60% for INAI.TO.
Find the right allocation for ZWT.TO and INAI.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer