VS
BMO Canadian High Dividend Covered Call ETF (ZWC) and CI 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 Finance, Energy, and Non-Energy Materials, while PXC leans towards Finance, Energy, and Non-Energy Materials. When evaluating costs, ZWC features a management fee (MER) of 0.65%, compared to 0.45% for PXC. Performance-wise, ZWC has returned 14.99% year-to-date with +$321 M in net flows, whereas PXC is at 22.55% with +$37 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 | $2,472.55 M | $264.75 M |
| Management Fees | 0.65% | 0.45% |
| Exp. ratio | 0.72% | 0.51% |
| Tracking Difference | - | 0.11% |
Historical performance and flows
As of September 8, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZWC | -0.15% | +2.78% | +14.99% | +23.86% | +67.02% |
PXC | +0.34% | +4.53% | +22.55% | +36.70% | +108.50% | |
| Flows | ZWC | +$23 M | +$113 M | +$321 M | +$367 M | +$289 M |
PXC | +$3 M | +$3 M | +$37 M | +$37 M | -$43 M |
ZWC vs PXC exposure
Countries
ZWC
Canada
98.15%
PXC
Canada
98.14%
Sectors
ZWC
Finance
40.64%
Energy
22.76%
Non-Energy Materials
11.23%
Other
25.37%
PXC
Finance
48.70%
Energy
23.07%
Non-Energy Materials
8.63%
Other
19.61%
As of September 8, 2026
Top 10 Holdings
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%
PXC
Royal Bank of Canada
8.88%
The Toronto-Dominion Bank
8.09%
The Bank of Nova Scotia
5.76%
Enbridge, Inc.
5.48%
Bank of Montreal
4.93%
Suncor Energy, Inc.
3.90%
Canadian Natural Resources Ltd.
3.86%
Canadian Imperial Bank of Commerce
3.85%
Manulife Financial Corp.
3.46%
Brookfield Corp.
2.82%
Diversification
ZWC
Total weight of top 10 holdings out of 39 total
51.92%
PXC
Total weight of top 10 holdings out of 101 total
51.03%
Characteristics
Compare
ZWC
PXC
| Provider | BMO | CI |
| 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 | 5.80% | 2.14% |
| 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 September 8, 2026, ZWC has returned 14.99% year to date, while PXC has returned 22.55%. PXC is ahead on YTD performance.
Which ETF is larger by assets under management: ZWC or PXC?
As of September 8, 2026, ZWC manages $2.47 B in assets, while PXC manages $264.75 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 CI. It tracks the RAFI Fundamental Select Canada 100 Index - CAD benchmark.
What sectors do ZWC and PXC emphasize?
ZWC is most exposed to Finance, Energy, and Non-Energy Materials. PXC is most exposed to Finance, Energy, and Non-Energy Materials.
Which ETF is attracting more investor flows: ZWC or PXC?
Year to date, ZWC has seen +$320.80 M in net flows, compared with +$37.20 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 0.51%.
What are the top holdings of ZWC and PXC?
ZWC's largest holdings include Royal Bank of Canada, The Toronto-Dominion Bank, and Canadian Imperial Bank of Commerce. PXC's top holdings include Royal Bank of Canada, The Toronto-Dominion Bank, and The Bank of Nova Scotia.
Which ETF is more diversified: ZWC or PXC?
ZWC holds 39 securities, while PXC holds 100. On holdings count, PXC is the more diversified portfolio.
Recent articles about ZWC and PXC
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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.