VS
BMO Canadian High Dividend Covered Call ETF (ZWC) and Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY) 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 VDY leans towards Financials, Energy, and Utilities. When evaluating costs, ZWC features a management fee (MER) of 0.65%, compared to 0.2% for VDY. Performance-wise, ZWC has returned 7.81% year-to-date with +$148 M in net flows, whereas VDY is at 12.94% with +$940 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
VDY
| AuM | $2,211.61 M | $7,212.31 M |
| Management Fees | 0.65% | 0.20% |
| Exp. ratio | 0.72% | 0.22% |
| Tracking Difference | - | -0.02% |
Historical performance and flows
As of April 24, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZWC | +3.34% | +4.91% | +7.81% | +30.78% | +49.39% |
VDY | +4.55% | +10.29% | +12.94% | +49.09% | +88.92% | |
| Flows | ZWC | +$61 M | +$127 M | +$148 M | +$233 M | +$193 M |
VDY | +$284 M | +$740 M | +$940 M | +$1,968 M | +$2,977 M |
ZWC vs VDY exposure
Countries
ZWC
Canada
98.30%
VDY
Canada
99.51%
Sectors
ZWC
Financials
34.20%
Energy
24.08%
Materials
10.84%
Utilities
9.26%
Other
7.17%
Communication Services
7.14%
Other
7.30%
VDY
Financials
52.27%
Energy
31.07%
Other
16.66%
As of April 24, 2026
Top 10 Holdings
ZWC
ROYAL BK CANADA
6.76%
CDN NATURAL RESOURCE
6.22%
TORONTO DOMINION
5.41%
CDN IMPERIAL BK
5.31%
ENBRIDGE
5.23%
SUNCOR ENERGY
5.13%
BNS
4.81%
TC ENERGY CORP
4.10%
AGNICO EAGLE MINES LTD
3.63%
NUTRIEN LTD
3.57%
VDY
ROYAL BK CANADA
14.07%
TORONTO DOMINION
9.76%
ENBRIDGE
7.35%
CDN NATURAL RESOURCE
6.20%
BANK OF MONTREAL
5.97%
CDN IMPERIAL BK
5.54%
BNS
5.38%
SUNCOR ENERGY
4.95%
TC ENERGY CORP
4.04%
MANULIFE-S
3.60%
Diversification
ZWC
Total weight of top 10 holdings out of 39 total
50.18%
VDY
Total weight of top 10 holdings out of 61 total
66.86%
Characteristics
Compare
ZWC
VDY
| Provider | BMO | Vanguard |
| Management | Actively managed | Passively managed |
| Benchmark | - | FTSE Canada High Dividend Yield Net Tax Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 5.64% | 3.60% |
| Meets ESG criteria | No | No |
| Inception Date | February 9, 2017 | November 2, 2012 |
Frequently asked questions about ZWC and VDY
Which ETF has performed better year to date: ZWC or VDY?
As of April 24, 2026, ZWC has returned 7.81% year to date, while VDY has returned 12.94%. VDY is ahead on YTD performance.
Which ETF is larger by assets under management: ZWC or VDY?
As of April 24, 2026, ZWC manages $2.21 B in assets, while VDY manages $7.21 B. VDY is the larger fund by AUM.
How are ZWC and VDY managed?
ZWC is actively managed by BMO. It does not track an index. VDY is passively managed by Vanguard. It tracks the FTSE Canada High Dividend Yield Net Tax Index - CAD benchmark.
What sectors do ZWC and VDY emphasize?
ZWC is most exposed to Financials, Energy, and Materials. VDY is most exposed to Financials, Energy, and Utilities.
Which ETF is attracting more investor flows: ZWC or VDY?
Year to date, ZWC has seen +$147.89 M in net flows, compared with +$940.34 M for VDY. VDY has attracted more net investor money so far.
How do the fees of ZWC and VDY compare?
ZWC has an expense ratio of 0.72%, while VDY has an expense ratio of 0.22%.
What are the top holdings of ZWC and VDY?
ZWC's largest holdings include ROYAL BK CANADA and CDN NATURAL RESOURCE. VDY's top holdings include ROYAL BK CANADA, TORONTO DOMINION, and ENBRIDGE.
Which ETF is more diversified: ZWC or VDY?
ZWC holds 34 securities, while VDY holds 58. On holdings count, VDY is the more diversified portfolio.
Recent articles about ZWC and VDY
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