VS
BMO Canadian High Dividend Covered Call ETF (ZWC) and Invesco RAFI Canadian Index ETF (PXC) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZWC focuses its top 3 sector exposures on Financials, Energy, and Materials, while PXC leans towards Financials, Energy, and Materials. When evaluating costs, ZWC features a management fee (MER) of 0.65%, compared to 0.45% for PXC. Performance-wise, ZWC has returned 10.88% year-to-date with +$208 M in net flows, whereas PXC is at 16.76% with +$34 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
ZWC
PXC
| AuM | $2,311.21 M | $250.56 M |
| Management Fees | 0.65% | 0.45% |
| Exp. ratio | 0.72% | 0.49% |
| Tracking Difference | - | 0.14% |
Historical performance and flows
As of June 10, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZWC | +1.23% | +4.53% | +10.88% | +28.02% | +61.44% |
PXC | +2.35% | +8.49% | +16.76% | +43.01% | +102.74% | |
| Flows | ZWC | +$40 M | +$129 M | +$208 M | +$282 M | +$219 M |
PXC | +$3 M | +$3 M | +$34 M | +$34 M | -$39 M |
ZWC vs PXC exposure
Countries
ZWC
Canada
98.39%
PXC
Canada
99.76%
Sectors
ZWC
Financials
37.04%
Energy
23.02%
Materials
10.11%
Utilities
8.89%
Other
7.10%
Other
13.85%
PXC
Financials
31.84%
Energy
27.37%
Materials
10.69%
Other
9.34%
Other
20.77%
As of June 10, 2026
Top 10 Holdings
ZWC
ROYAL BK CANADA
7.17%
CDN IMPERIAL BK
5.89%
TORONTO DOMINION
5.89%
CDN NATURAL RESOURCE
5.70%
BNS
5.13%
SUNCOR ENERGY
5.00%
ENBRIDGE
4.93%
TC ENERGY CORP
3.99%
BANK OF MONTREAL
3.55%
FORTIS
3.36%
PXC
ROYAL BK CANADA
6.02%
TORONTO DOMINION
5.95%
SUNCOR ENERGY
5.81%
CDN NATURAL RESOURCE
4.97%
ENBRIDGE
4.51%
BNS
4.18%
CENOVUS ENERGY
3.58%
NUTRIEN LTD
3.40%
BANK OF MONTREAL
3.20%
CDN IMPERIAL BK
2.98%
Diversification
ZWC
Total weight of top 10 holdings out of 39 total
50.60%
PXC
Total weight of top 10 holdings out of 101 total
44.60%
Characteristics
Compare
ZWC
PXC
| Provider | BMO | Invesco |
| Management | Actively managed | Passively managed |
| Benchmark | - | RAFI Fundamental Select Canada 100 Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 5.65% | 2.23% |
| Meets ESG criteria | No | No |
| Inception Date | February 9, 2017 | January 26, 2012 |
Frequently asked questions about ZWC and PXC
Which ETF has performed better year to date: ZWC or PXC?
As of June 10, 2026, ZWC has returned 10.88% year to date, while PXC has returned 16.76%. PXC is ahead on YTD performance.
Which ETF is larger by assets under management: ZWC or PXC?
As of June 10, 2026, ZWC manages $2.31 B in assets, while PXC manages $250.56 M. ZWC is the larger fund by AUM.
How are ZWC and PXC managed?
ZWC is actively managed by BMO. It does not track an index. PXC is passively managed by Invesco. It tracks the RAFI Fundamental Select Canada 100 Index - CAD benchmark.
What sectors do ZWC and PXC emphasize?
ZWC is most exposed to Financials, Energy, and Materials. PXC is most exposed to Financials, Energy, and Materials.
Which ETF is attracting more investor flows: ZWC or PXC?
Year to date, ZWC has seen +$207.58 M in net flows, compared with +$33.96 M for PXC. ZWC has attracted more net investor money so far.
How do the fees of ZWC and PXC compare?
ZWC has an expense ratio of 0.72%, while PXC has an expense ratio of 0.49%.
What are the top holdings of ZWC and PXC?
ZWC's largest holdings include ROYAL BK CANADA and CDN IMPERIAL BK. PXC's top holdings include ROYAL BK CANADA and TORONTO DOMINION.
Which ETF is more diversified: ZWC or PXC?
ZWC holds 34 securities, while PXC holds 92. On holdings count, PXC is the more diversified portfolio.
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