ZWU.TO vs. ZSP.TO
Compare and contrast key facts about BMO Covered Call Utilities ETF (ZWU.TO) and BMO S&P 500 Index ETF (ZSP.TO).
ZWU.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. ZWU.TO is an actively managed fund by BMO. It was launched on Oct 20, 2011. 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
ZWU.TO vs. ZSP.TO - Performance Comparison
Loading graphics...
ZWU.TO vs. ZSP.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZWU.TO BMO Covered Call Utilities ETF | 11.36% | 13.18% | 10.97% | -2.79% | -3.89% | 15.80% | -7.09% | 23.48% | -5.73% | 5.63% |
ZSP.TO BMO S&P 500 Index ETF | -2.67% | 12.02% | 35.07% | 23.30% | -12.68% | 27.53% | 15.61% | 24.69% | 3.24% | 13.54% |
Returns By Period
In the year-to-date period, ZWU.TO achieves a 11.36% return, which is significantly higher than ZSP.TO's -2.67% return. Over the past 10 years, ZWU.TO has underperformed ZSP.TO with an annualized return of 6.47%, while ZSP.TO has yielded a comparatively higher 14.46% annualized return.
ZWU.TO
- 1D
- -0.33%
- 1M
- 0.08%
- YTD
- 11.36%
- 6M
- 9.50%
- 1Y
- 16.65%
- 3Y*
- 10.49%
- 5Y*
- 7.10%
- 10Y*
- 6.47%
ZSP.TO
- 1D
- 0.51%
- 1M
- -2.86%
- YTD
- -2.67%
- 6M
- -2.34%
- 1Y
- 14.06%
- 3Y*
- 19.19%
- 5Y*
- 13.82%
- 10Y*
- 14.46%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
ZWU.TO vs. ZSP.TO - Expense Ratio Comparison
ZWU.TO has a 0.65% expense ratio, which is higher than ZSP.TO's 0.09% expense ratio.
Return for Risk
ZWU.TO vs. ZSP.TO — Risk / Return Rank
ZWU.TO
ZSP.TO
ZWU.TO vs. ZSP.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Covered Call Utilities ETF (ZWU.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.
| ZWU.TO | ZSP.TO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.84 | 0.77 | +1.07 |
Sortino ratioReturn per unit of downside risk | 2.37 | 1.15 | +1.22 |
Omega ratioGain probability vs. loss probability | 1.36 | 1.18 | +0.18 |
Calmar ratioReturn relative to maximum drawdown | 2.50 | 1.12 | +1.38 |
Martin ratioReturn relative to average drawdown | 9.31 | 4.16 | +5.15 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| ZWU.TO | ZSP.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.84 | 0.77 | +1.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.69 | 0.93 | -0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.46 | 0.89 | -0.43 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 1.08 | -0.66 |
Correlation
The correlation between ZWU.TO and ZSP.TO is 0.36, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
ZWU.TO vs. ZSP.TO - Dividend Comparison
ZWU.TO's dividend yield for the trailing twelve months is around 6.94%, more than ZSP.TO's 0.86% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ZWU.TO BMO Covered Call Utilities ETF | 6.94% | 7.59% | 7.96% | 8.54% | 8.35% | 7.43% | 7.94% | 6.29% | 6.84% | 6.46% | 6.77% | 7.57% |
ZSP.TO BMO S&P 500 Index ETF | 0.86% | 0.82% | 0.94% | 1.33% | 1.44% | 1.15% | 1.44% | 1.47% | 1.63% | 1.63% | 2.20% | 1.53% |
Drawdowns
ZWU.TO vs. ZSP.TO - Drawdown Comparison
The maximum ZWU.TO drawdown since its inception was -37.41%, 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 ZWU.TO and ZSP.TO.
Loading graphics...
Drawdown Indicators
| ZWU.TO | ZSP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.41% | -26.94% | -10.47% |
Max Drawdown (1Y)Largest decline over 1 year | -6.71% | -12.43% | +5.72% |
Max Drawdown (5Y)Largest decline over 5 years | -23.36% | -22.25% | -1.11% |
Max Drawdown (10Y)Largest decline over 10 years | -37.41% | -26.94% | -10.47% |
Current DrawdownCurrent decline from peak | -0.65% | -5.64% | +4.99% |
Average DrawdownAverage peak-to-trough decline | -5.42% | -3.37% | -2.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.80% | 3.34% | -1.54% |
Volatility
ZWU.TO vs. ZSP.TO - Volatility Comparison
The current volatility for BMO Covered Call Utilities ETF (ZWU.TO) is 2.44%, while BMO S&P 500 Index ETF (ZSP.TO) has a volatility of 5.13%. This indicates that ZWU.TO experiences smaller price fluctuations and is considered to be less risky than ZSP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| ZWU.TO | ZSP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.44% | 5.13% | -2.69% |
Volatility (6M)Calculated over the trailing 6-month period | 5.27% | 9.36% | -4.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.11% | 18.34% | -9.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.34% | 14.97% | -4.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.15% | 16.37% | -2.22% |