ZWT.TO vs. ZSP.TO
Compare and contrast key facts about BMO Covered Call Technology ETF (ZWT.TO) and BMO S&P 500 Index ETF (ZSP.TO).
ZWT.TO and ZSP.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZWT.TO is an actively managed fund by BMO. It was launched on Jan 19, 2021. ZSP.TO is a passively managed fund by BMO that tracks the performance of the S&P 500 Index. It was launched on Nov 14, 2012.
Performance
ZWT.TO vs. ZSP.TO - Performance Comparison
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ZWT.TO vs. ZSP.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ZWT.TO BMO Covered Call Technology ETF | -7.50% | 18.15% | 49.78% | 65.75% | -31.60% | 22.78% |
ZSP.TO BMO S&P 500 Index ETF | -3.17% | 12.02% | 35.07% | 23.30% | -12.68% | 24.66% |
Returns By Period
In the year-to-date period, ZWT.TO achieves a -7.50% return, which is significantly lower than ZSP.TO's -3.17% return.
ZWT.TO
- 1D
- 4.54%
- 1M
- -1.99%
- YTD
- -7.50%
- 6M
- -5.12%
- 1Y
- 23.02%
- 3Y*
- 29.71%
- 5Y*
- 17.49%
- 10Y*
- —
ZSP.TO
- 1D
- 2.73%
- 1M
- -3.14%
- YTD
- -3.17%
- 6M
- -2.25%
- 1Y
- 13.31%
- 3Y*
- 18.98%
- 5Y*
- 13.70%
- 10Y*
- 14.40%
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ZWT.TO vs. ZSP.TO - Expense Ratio Comparison
ZWT.TO has a 0.71% expense ratio, which is higher than ZSP.TO's 0.09% expense ratio.
Return for Risk
ZWT.TO vs. ZSP.TO — Risk / Return Rank
ZWT.TO
ZSP.TO
ZWT.TO vs. ZSP.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 S&P 500 Index ETF (ZSP.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 | ZSP.TO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.87 | 0.73 | +0.14 |
Sortino ratioReturn per unit of downside risk | 1.37 | 1.10 | +0.27 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.17 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.45 | 1.17 | +0.28 |
Martin ratioReturn relative to average drawdown | 4.35 | 4.37 | -0.02 |
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 | ZSP.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.87 | 0.73 | +0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.76 | 0.92 | -0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.88 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.75 | 1.08 | -0.33 |
Correlation
The correlation between ZWT.TO and ZSP.TO is 0.84, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
ZWT.TO vs. ZSP.TO - Dividend Comparison
ZWT.TO's dividend yield for the trailing twelve months is around 5.16%, more than ZSP.TO's 0.87% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ZWT.TO BMO Covered Call Technology ETF | 5.16% | 4.46% | 3.34% | 3.83% | 6.54% | 4.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZSP.TO BMO S&P 500 Index ETF | 0.87% | 0.82% | 0.94% | 1.33% | 1.44% | 1.15% | 1.44% | 1.47% | 1.63% | 1.63% | 2.20% | 1.53% |
Drawdowns
ZWT.TO vs. ZSP.TO - Drawdown Comparison
The maximum ZWT.TO drawdown since its inception was -35.84%, which is greater than ZSP.TO's maximum drawdown of -26.94%. Use the drawdown chart below to compare losses from any high point for ZWT.TO and ZSP.TO.
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Drawdown Indicators
| ZWT.TO | ZSP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.84% | -26.94% | -8.90% |
Max Drawdown (1Y)Largest decline over 1 year | -15.93% | -12.43% | -3.50% |
Max Drawdown (5Y)Largest decline over 5 years | -35.84% | -22.25% | -13.59% |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.94% | — |
Current DrawdownCurrent decline from peak | -12.11% | -6.12% | -5.99% |
Average DrawdownAverage peak-to-trough decline | -9.07% | -3.37% | -5.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.32% | 3.33% | +1.99% |
Volatility
ZWT.TO vs. ZSP.TO - Volatility Comparison
BMO Covered Call Technology ETF (ZWT.TO) has a higher volatility of 7.83% compared to BMO S&P 500 Index ETF (ZSP.TO) at 5.16%. This indicates that ZWT.TO's price experiences larger fluctuations and is considered to be riskier than ZSP.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 | ZSP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.83% | 5.16% | +2.67% |
Volatility (6M)Calculated over the trailing 6-month period | 14.60% | 9.35% | +5.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.70% | 18.36% | +8.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.25% | 14.97% | +8.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.17% | 16.37% | +6.80% |