VS
BMO Canadian High Dividend Covered Call ETF (ZWC) and iShares Core S&P/TSX Composite High Dividend Index ETF (XEI) 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 XEI leans towards Finance, Energy, and Utilities. When evaluating costs, ZWC features a management fee (MER) of 0.65%, compared to 0.2% for XEI. Performance-wise, ZWC has returned 15.59% year-to-date with +$325 M in net flows, whereas XEI is at 25.94% with +$823 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
XEI
| AuM | $2,489.85 M | $4,382.29 M |
| Management Fees | 0.65% | 0.20% |
| Exp. ratio | 0.72% | 0.22% |
| Tracking Difference | - | -0.44% |
Historical performance and flows
As of September 18, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZWC | -0.77% | +3.13% | +15.59% | +24.89% | +64.55% |
XEI | -1.42% | +2.53% | +25.94% | +34.96% | +87.00% | |
| Flows | ZWC | +$23 M | +$109 M | +$325 M | +$371 M | +$296 M |
XEI | +$40 M | +$207 M | +$823 M | +$1,124 M | +$1,668 M |
ZWC vs XEI exposure
Countries
ZWC
Canada
98.15%
XEI
Canada
92.89%
Other
7.11%
Sectors
ZWC
Finance
40.64%
Energy
22.76%
Non-Energy Materials
11.23%
Other
25.37%
XEI
Finance
36.75%
Energy
30.32%
Utilities
9.44%
Telecommunications
7.05%
Other
16.44%
As of September 18, 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%
XEI
Royal Bank of Canada
5.12%
Suncor Energy, Inc.
5.05%
The Toronto-Dominion Bank
5.04%
Canadian Natural Resources Ltd.
4.99%
Enbridge, Inc.
4.72%
TC Energy Corp.
4.54%
Bank of Montreal
4.37%
Nutrien Ltd.
4.09%
Canadian Imperial Bank of Commerce
3.80%
The Bank of Nova Scotia
3.77%
Diversification
ZWC
Total weight of top 10 holdings out of 39 total
51.92%
XEI
Total weight of top 10 holdings out of 75 total
45.49%
Characteristics
Compare
ZWC
XEI
| Provider | BMO | iShares |
| Management | Actively managed | Passively managed |
| Benchmark | - | S&P/TSX Composite High Dividend Total Return Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 5.77% | 3.44% |
| Meets ESG criteria | No | No |
| Inception Date | February 9, 2017 | April 12, 2011 |
Frequently asked questions about ZWC and XEI
Which ETF has performed better year to date: ZWC or XEI?
As of September 18, 2026, ZWC has returned 15.59% year to date, while XEI has returned 25.94%. XEI is ahead on YTD performance.
Which ETF is larger by assets under management: ZWC or XEI?
As of September 18, 2026, ZWC manages $2.49 B in assets, while XEI manages $4.38 B. XEI is the larger fund by AUM.
How are ZWC and XEI managed?
ZWC is actively managed by BMO. It does not track an index. XEI is passively managed by iShares. It tracks the S&P/TSX Composite High Dividend Total Return Index - CAD benchmark.
What sectors do ZWC and XEI emphasize?
ZWC is most exposed to Finance, Energy, and Non-Energy Materials. XEI is most exposed to Finance, Energy, and Utilities.
Which ETF is attracting more investor flows: ZWC or XEI?
Year to date, ZWC has seen +$325.33 M in net flows, compared with +$822.63 M for XEI. XEI has attracted more net investor money so far.
How do the fees of ZWC and XEI compare?
ZWC has an expense ratio of 0.72%, while XEI has an expense ratio of 0.22%.
What are the top holdings of ZWC and XEI?
ZWC's largest holdings include Royal Bank of Canada, The Toronto-Dominion Bank, and Canadian Imperial Bank of Commerce. XEI's top holdings include Royal Bank of Canada, Suncor Energy, Inc., and The Toronto-Dominion Bank.
Which ETF is more diversified: ZWC or XEI?
ZWC holds 39 securities, while XEI holds 75. On holdings count, XEI is the more diversified portfolio.
Recent articles about ZWC and XEI
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