ZWT.TO vs. ZDV.TO
ZWT.TO (BMO Covered Call Technology ETF) and ZDV.TO (BMO Canadian Dividend ETF) are both exchange-traded funds - ZWT.TO is a Technology Equities fund actively managed by BMO, while ZDV.TO is a Canada Equities fund actively managed by BMO. Both are actively managed. Over the past 5 years, ZWT.TO returned 23.64%/yr vs 13.72%/yr for ZDV.TO. At a 0.30 correlation, their price movements are largely independent. ZWT.TO charges 0.71%/yr vs 0.39%/yr for ZDV.TO.
Performance
ZWT.TO vs. ZDV.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZWT.TO achieves a 20.37% return, which is significantly higher than ZDV.TO's 18.56% 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*
- —
ZDV.TO
- 1D
- -0.22%
- 1M
- 4.61%
- YTD
- 18.56%
- 6M
- 13.14%
- 1Y
- 31.08%
- 3Y*
- 20.39%
- 5Y*
- 13.72%
- 10Y*
- 10.97%
ZWT.TO vs. ZDV.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ZWT.TO BMO Covered Call Technology ETF | 20.37% | 18.15% | 49.78% | 65.75% | -31.60% | 22.78% |
ZDV.TO BMO Canadian Dividend ETF | 18.56% | 20.17% | 16.52% | 7.83% | -1.93% | 23.91% |
Correlation
The correlation between ZWT.TO and ZDV.TO is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2021 | 0.30 |
The correlation between ZWT.TO and ZDV.TO shifts across timeframes, from 0.19 (1 year) to 0.31 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
ZWT.TO vs. ZDV.TO — Risk / Return Rank
ZWT.TO
ZDV.TO
ZWT.TO vs. ZDV.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Covered Call Technology ETF (ZWT.TO) and BMO Canadian Dividend ETF (ZDV.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.TO | ZDV.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.66 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.98 | 4.69 | -1.72 |
| Martin ratioReturn relative to average drawdown | 9.56 | 18.24 | -8.69 |
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
| ZWT.TO | ZDV.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.66 | 2.95 | -0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.02 | 1.26 | -0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.73 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.99 | 0.68 | +0.31 |
Drawdowns
ZWT.TO vs. ZDV.TO - Drawdown Comparison
The maximum ZWT.TO drawdown since its inception was -35.84%, smaller than the maximum ZDV.TO drawdown of -43.21%. Use the drawdown chart below to compare losses from any high point for ZWT.TO and ZDV.TO.
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Drawdown Indicators
| ZWT.TO | ZDV.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.84% | -43.21% | +7.37% |
Max Drawdown (1Y)Largest decline over 1 year | -15.93% | -6.65% | -9.28% |
Max Drawdown (3Y)Largest decline over 3 years | -26.27% | -9.04% | -17.23% |
Max Drawdown (5Y)Largest decline over 5 years | -35.84% | -16.72% | -19.12% |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.21% | — |
Current DrawdownCurrent decline from peak | -0.06% | -0.22% | +0.16% |
Average DrawdownAverage peak-to-trough decline | -8.84% | -5.12% | -3.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.95% | 1.71% | +3.24% |
Volatility
ZWT.TO vs. ZDV.TO - Volatility Comparison
BMO Covered Call Technology ETF (ZWT.TO) has a higher volatility of 4.19% compared to BMO Canadian Dividend ETF (ZDV.TO) at 2.49%. This indicates that ZWT.TO's price experiences larger fluctuations and is considered to be riskier than ZDV.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.TO | ZDV.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.19% | 2.49% | +1.70% |
Volatility (6M)Calculated over the trailing 6-month period | 13.67% | 9.69% | +3.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.81% | 10.57% | +7.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.23% | 10.94% | +12.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.98% | 15.11% | +7.87% |
ZWT.TO vs. ZDV.TO - Expense Ratio Comparison
ZWT.TO has a 0.71% expense ratio, which is higher than ZDV.TO's 0.39% expense ratio.
Dividends
ZWT.TO vs. ZDV.TO - Dividend Comparison
ZWT.TO's dividend yield for the trailing twelve months is around 4.22%, more than ZDV.TO's 2.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ZDV.TO BMO Canadian Dividend ETF | 2.68% | 3.07% | 3.57% | 4.10% | 4.10% | 3.63% | 4.48% | 4.11% | 5.06% | 3.96% | 3.84% | 4.63% |
ZWT.TO BMO Covered Call Technology ETF | 4.22% | 4.46% | 3.34% | 3.83% | 6.54% | 4.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZWT.TO and ZDV.TO have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZDV.TO is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZDV.TO is cheaper with a 0.39% expense ratio, compared with 0.71% for ZWT.TO.
ZWT.TO is categorized as Technology Equities, while ZDV.TO is Canada Equities. Their fees differ too: 0.71% for ZWT.TO and 0.39% for ZDV.TO.
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