VS
BMO MSCI Canada Value Index ETF (ZVC) and BMO Canadian High Dividend Covered Call ETF (ZWC) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZVC focuses its top 3 sector exposures on Finance, Energy, and Non-Energy Materials, while ZWC leans towards Finance, Energy, and Non-Energy Materials. When evaluating costs, ZVC features a management fee (MER) of 0.35%, compared to 0.65% for ZWC. Performance-wise, ZVC has returned 21.14% year-to-date with +$7 M in net flows, whereas ZWC is at 14.67% with +$321 M. Use the comparison tool below to benchmark these funds across top 10 holdings, yield, sector weights and historical returns.
NAV Performance and Flows
Key Data
Compare
ZVC
ZWC
| AuM | $57.41 M | $2,465.72 M |
| Management Fees | 0.35% | 0.65% |
| Exp. ratio | 0.40% | 0.72% |
| Tracking Difference | -0.61% | - |
Historical performance and flows
As of September 10, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZVC | +0.04% | +6.23% | +21.14% | +35.40% | +88.51% |
ZWC | -0.08% | +3.42% | +14.67% | +24.21% | +66.56% | |
| Flows | ZVC | +$2 M | +$2 M | +$7 M | +$9 M | +$16 M |
ZWC | +$23 M | +$113 M | +$321 M | +$369 M | +$289 M |
ZVC vs ZWC exposure
Countries
ZVC
Canada
99.59%
ZWC
Canada
98.15%
Sectors
ZVC
Finance
41.53%
Energy
18.27%
Non-Energy Materials
13.84%
Industrials
8.49%
Technology
7.81%
Other
10.05%
ZWC
Finance
40.64%
Energy
22.76%
Non-Energy Materials
11.23%
Other
25.37%
As of September 10, 2026
Top 10 Holdings
ZVC
The Toronto-Dominion Bank
7.89%
The Bank of Nova Scotia
7.14%
Bank of Montreal
6.25%
Manulife Financial Corp.
6.15%
Suncor Energy, Inc.
5.81%
CGI, Inc.
4.98%
Barrick Mining Corp.
4.78%
Canadian Natural Resources Ltd.
4.44%
Canadian Pacific Kansas City Ltd.
4.26%
Canadian Imperial Bank of Commerce
3.87%
ZWC
Royal Bank of Canada
8.06%
The Toronto-Dominion Bank
6.27%
Canadian Imperial Bank of Commerce
5.85%
Canadian Natural Resources Ltd.
5.74%
The Bank of Nova Scotia
5.62%
Enbridge, Inc.
4.71%
Suncor Energy, Inc.
4.66%
TC Energy Corp.
4.03%
Bank of Montreal
3.82%
Nutrien Ltd.
3.17%
Diversification
ZVC
Total weight of top 10 holdings out of 50 total
55.56%
ZWC
Total weight of top 10 holdings out of 39 total
51.92%
Characteristics
Compare
ZVC
ZWC
| Provider | BMO | BMO |
| Management | Passively managed | Actively managed |
| Benchmark | MSCI Canada Enhanced Value Capped Index - CAD | - |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.89% | 5.82% |
| Meets ESG criteria | No | No |
| Inception Date | October 4, 2017 | February 9, 2017 |
Frequently asked questions about ZVC and ZWC
Which ETF has performed better year to date: ZVC or ZWC?
As of September 10, 2026, ZVC has returned 21.14% year to date, while ZWC has returned 14.67%. ZVC is ahead on YTD performance.
Which ETF is larger by assets under management: ZVC or ZWC?
As of September 10, 2026, ZVC manages $57.41 M in assets, while ZWC manages $2.47 B. ZWC is the larger fund by AUM.
How are ZVC and ZWC managed?
ZVC is passively managed by BMO. It tracks the MSCI Canada Enhanced Value Capped Index - CAD benchmark. ZWC is actively managed by BMO. It does not track an index.
What sectors do ZVC and ZWC emphasize?
ZVC is most exposed to Finance, Energy, and Non-Energy Materials. ZWC is most exposed to Finance, Energy, and Non-Energy Materials.
Which ETF is attracting more investor flows: ZVC or ZWC?
Year to date, ZVC has seen +$6.53 M in net flows, compared with +$320.80 M for ZWC. ZWC has attracted more net investor money so far.
How do the fees of ZVC and ZWC compare?
ZVC has an expense ratio of 0.40%, while ZWC has an expense ratio of 0.72%.
What are the top holdings of ZVC and ZWC?
ZVC's largest holdings include The Toronto-Dominion Bank, The Bank of Nova Scotia, and Bank of Montreal. ZWC's top holdings include Royal Bank of Canada, The Toronto-Dominion Bank, and Canadian Imperial Bank of Commerce.
Which ETF is more diversified: ZVC or ZWC?
ZVC holds 50 securities, while ZWC holds 39. On holdings count, ZVC is the more diversified portfolio.
Recent articles about ZVC and ZWC
The ETF Market Canada is brought to you by Cboe in partnership with Trackinsight SA who is providing all the data, analysis and editorial content on this site. Unless explicitly stated as such, any information that you receive is not real-time.
All content on the ETF Market Canada is for your general information use only, Cboe is not responsible for any use of content by you outside this scope. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by Cboe and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions.
All content on the ETF Market Canada is for your general information use only, Cboe is not responsible for any use of content by you outside this scope. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by Cboe and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions.