ZWU.TO vs. SLJY

Last updated Jul 21, 2026

ZWU.TO (BMO Covered Call Utilities ETF) and SLJY (Amplify SILJ Covered Call ETF) are both exchange-traded funds - ZWU.TO is a Utilities Equities fund actively managed by BMO, while SLJY is a Derivative Income fund actively managed by Amplify. Both are actively managed. At a 0.05 correlation, their price movements are largely independent. ZWU.TO charges 0.65%/yr vs 0.75%/yr for SLJY.

Performance

ZWU.TO vs. SLJY - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Covered Call Utilities ETF (ZWU.TO) and Amplify SILJ Covered Call ETF (SLJY). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ZWU.TO is traded in CAD, while SLJY is traded in USD. To make them comparable, the SLJY values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ZWU.TO achieves a 11.54% return, which is significantly higher than SLJY's -8.80% return.

ZWU.TO

• 1D: -0.25%
• 1M: 0.33%
• 6M: 10.74%
• YTD: 11.54%
• 1Y: 15.14%
• 3Y*: 11.18%
• 5Y*: 6.29%
• 10Y*: 5.74%
• ALL TIME*: 5.49%

SLJY

• 1D: -0.38%
• 1M: -11.91%
• 6M: -23.24%
• YTD: -8.80%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ZWU.TO vs. SLJY - Yearly Performance Comparison

	2026 (YTD)	2025
ZWU.TO BMO Covered Call Utilities ETF	11.54%	0.69%
SLJY Amplify SILJ Covered Call ETF	-8.80%	41.00%

Correlation

The correlation between ZWU.TO and SLJY is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 19, 2025	0.05

Return for Risk

ZWU.TO vs. SLJY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ZWU.TO

ZWU.TO Risk / Return Rank: 75
ZWU.TO Sharpe Ratio Rank: 78
ZWU.TO Sortino Ratio Rank: 79
ZWU.TO Omega Ratio Rank: 75
ZWU.TO Calmar Ratio Rank: 80
ZWU.TO Martin Ratio Rank: 64

SLJY

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

ZWU.TO vs. SLJY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Covered Call Utilities ETF (ZWU.TO) and Amplify SILJ Covered Call ETF (SLJY). 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.

	ZWU.TO	SLJY	Difference
Sharpe ratio: Return per unit of total volatility	1.86	—	—
Sortino ratio: Return per unit of downside risk	2.69	—	—
Omega ratio: Gain probability vs. loss probability	1.33	—	—
Calmar ratio: Return relative to maximum drawdown	3.13	—	—
Martin ratio: Return relative to average drawdown	8.34	—	—

Drawdowns

ZWU.TO vs. SLJY - Drawdown Comparison

The maximum ZWU.TO drawdown since its inception was -37.41%, which is greater than SLJY's maximum drawdown of -33.57%. Use the drawdown chart below to compare losses from any high point for ZWU.TO and SLJY.

Drawdown Indicators

	ZWU.TO	SLJY	Difference
Max Drawdown Largest peak-to-trough decline	-37.41%	-33.57%	-3.84%
Max Drawdown (1Y) Largest decline over 1 year	-4.86%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-12.23%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-23.36%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-37.41%	—	—
Current Drawdown Current decline from peak	-1.41%	-33.57%	+32.16%
Average Drawdown Average peak-to-trough decline	-5.34%	-11.96%	+6.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.82%	—	—

Volatility

Volatility by Period

	ZWU.TO	SLJY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.38%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.74%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	8.18%	49.38%	-41.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.56%	49.38%	-38.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.20%	49.38%	-35.18%

ZWU.TO vs. SLJY - Expense Ratio Comparison

ZWU.TO has a 0.65% expense ratio, which is lower than SLJY's 0.75% expense ratio.

Dividends

ZWU.TO vs. SLJY - Dividend Comparison

ZWU.TO's dividend yield for the trailing twelve months is around 7.05%, less than SLJY's 22.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SLJY Amplify SILJ Covered Call ETF	22.85%	6.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ZWU.TO BMO Covered Call Utilities ETF	7.05%	7.59%	7.96%	8.54%	8.35%	7.43%	7.94%	6.29%	6.84%	6.46%	6.77%	7.57%

Frequently Asked Questions

Can I hold both ZWU.TO and SLJY in my portfolio?

ZWU.TO and SLJY have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZWU.TO or SLJY?

On fees, ZWU.TO is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZWU.TO or SLJY?

ZWU.TO is cheaper with a 0.65% expense ratio, compared with 0.75% for SLJY.

What is the main difference between ZWU.TO and SLJY?

ZWU.TO is categorized as Utilities Equities, while SLJY is Derivative Income. They also come from different issuers: BMO and Amplify. Their fees differ too: 0.65% for ZWU.TO and 0.75% for SLJY.