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ZWT.TO vs. XEXP.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZWT.TO vs. XEXP.TO

Last updated Jun 4, 2026

ZWT.TO (BMO Covered Call Technology ETF) and XEXP.TO (iShares Exponential Technologies Index ETF) are both Technology Equities funds. ZWT.TO is actively managed, while XEXP.TO is passively managed. Over the past 3 years, ZWT.TO returned 36.02%/yr vs 17.73%/yr for XEXP.TO. At a 0.34 correlation, their price movements are largely independent. ZWT.TO charges 0.71%/yr vs 0.44%/yr for XEXP.TO.

Performance

ZWT.TO vs. XEXP.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Covered Call Technology ETF (ZWT.TO) and iShares Exponential Technologies Index ETF (XEXP.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, ZWT.TO achieves a 20.37% return, which is significantly lower than XEXP.TO's 21.53% return.

ZWT.TO

1D
-0.06%
1M
12.28%
YTD
20.37%
6M
17.59%
1Y
47.17%
3Y*
36.02%
5Y*
23.64%
10Y*
—

XEXP.TO

1D
0.25%
1M
11.43%
YTD
21.53%
6M
13.91%
1Y
41.18%
3Y*
17.73%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

ZWT.TO vs. XEXP.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022
ZWT.TO
BMO Covered Call Technology ETF		20.37%18.15%49.78%65.75%-11.98%
XEXP.TO
iShares Exponential Technologies Index ETF		21.53%13.97%9.27%24.40%1.69%

Correlation

The correlation between ZWT.TO and XEXP.TO is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.36

Correlation (3Y)
Calculated over the trailing 3-year period

0.38

Correlation (All Time)
Calculated using the full available price history since May 4, 2022

0.34

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

BMO Covered Call Technology ETF

iShares Exponential Technologies Index ETF

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Often compared with XEXP.TO:
XEXP.TO vs. ZXLK.TOXEXP.TO vs. INAI.TOXEXP.TO vs. TEC.TOXEXP.TO vs. QMAX.TOXEXP.TO vs. MTRX.TOXEXP.TO vs. QMVP.TOXEXP.TO vs. HTA.TO

Return for Risk

ZWT.TO vs. XEXP.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZWT.TO
ZWT.TO Risk / Return Rank: 6868
Overall Rank
ZWT.TO Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
ZWT.TO Sortino Ratio Rank: 7373
Sortino Ratio Rank
ZWT.TO Omega Ratio Rank: 7474
Omega Ratio Rank
ZWT.TO Calmar Ratio Rank: 6060
Calmar Ratio Rank
ZWT.TO Martin Ratio Rank: 5555
Martin Ratio Rank
XEXP.TO
XEXP.TO Risk / Return Rank: 7373
Overall Rank
XEXP.TO Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
XEXP.TO Sortino Ratio Rank: 7575
Sortino Ratio Rank
XEXP.TO Omega Ratio Rank: 8181
Omega Ratio Rank
XEXP.TO Calmar Ratio Rank: 6969
Calmar Ratio Rank
XEXP.TO Martin Ratio Rank: 6060
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.

ZWT.TO vs. XEXP.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Covered Call Technology ETF (ZWT.TO) and iShares Exponential Technologies Index ETF (XEXP.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.

ZWT.TOXEXP.TODifference
Sharpe ratioReturn per unit of total volatility
2.66
2.51

+0.15

Sortino ratioReturn per unit of downside risk
3.34
3.36

-0.02

Omega ratioGain probability vs. loss probability

1.45

1.48

-0.03

Calmar ratioReturn relative to maximum drawdown

2.98

3.42

-0.44

Martin ratioReturn relative to average drawdown

9.56

10.64

-1.08

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

ZWT.TO vs. XEXP.TO - Sharpe Ratio Comparison

The current ZWT.TO Sharpe Ratio is 2.66, which is comparable to the XEXP.TO Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of ZWT.TO and XEXP.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

ZWT.TOXEXP.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.66

2.51

+0.15

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.02

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.99

0.92

+0.07

Drawdowns

ZWT.TO vs. XEXP.TO - Drawdown Comparison

The maximum ZWT.TO drawdown since its inception was -35.84%, which is greater than XEXP.TO's maximum drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for ZWT.TO and XEXP.TO.

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Drawdown Indicators

ZWT.TOXEXP.TODifference

Max Drawdown

Largest peak-to-trough decline

-35.84%

-22.44%

-13.40%

Max Drawdown (1Y)

Largest decline over 1 year

-15.93%

-12.10%

-3.83%

Max Drawdown (3Y)

Largest decline over 3 years

-26.27%

-22.44%

-3.83%

Max Drawdown (5Y)

Largest decline over 5 years

-35.84%

—

—

Current Drawdown

Current decline from peak

-0.06%

0.00%

-0.06%

Average Drawdown

Average peak-to-trough decline

-8.84%

-3.99%

-4.85%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.95%

3.88%

+1.07%

Volatility

ZWT.TO vs. XEXP.TO - Volatility Comparison

The current volatility for BMO Covered Call Technology ETF (ZWT.TO) is 4.19%, while iShares Exponential Technologies Index ETF (XEXP.TO) has a volatility of 5.54%. This indicates that ZWT.TO experiences smaller price fluctuations and is considered to be less risky than XEXP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ZWT.TOXEXP.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.19%

5.54%

-1.35%

Volatility (6M)

Calculated over the trailing 6-month period

13.67%

12.89%

+0.78%

Volatility (1Y)

Calculated over the trailing 1-year period

17.81%

16.48%

+1.33%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.23%

18.92%

+4.31%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.98%

18.92%

+4.06%

ZWT.TO vs. XEXP.TO - Expense Ratio Comparison

ZWT.TO has a 0.71% expense ratio, which is higher than XEXP.TO's 0.44% expense ratio.

Dividends

ZWT.TO vs. XEXP.TO - Dividend Comparison

ZWT.TO's dividend yield for the trailing twelve months is around 4.22%, more than XEXP.TO's 0.54% yield.

PositionTTM20252024202320222021
XEXP.TO
iShares Exponential Technologies Index ETF		0.54%0.65%0.80%0.63%0.21%0.00%
ZWT.TO
BMO Covered Call Technology ETF		4.22%4.46%3.34%3.83%6.54%4.00%

Frequently Asked Questions

ZWT.TO and XEXP.TO have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XEXP.TO is cheaper at 0.44% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XEXP.TO is cheaper with a 0.44% expense ratio, compared with 0.71% for ZWT.TO.

They also come from different issuers: BMO and iShares. Their fees differ too: 0.71% for ZWT.TO and 0.44% for XEXP.TO.

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