A side-by-side comparison of iShares S&P/TSX Composite High Dividend Index ETF (XEI) and BMO Canadian High Dividend Covered Call (ZWC) to help Canadian investors make an informed decision.
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1-Year Performance
Normalised to 100 at the start — shows relative return over the trailing 12 months.
Head-to-Head Comparison
| Metric | XEI | ZWC |
|---|---|---|
| YTD Return | +23.48%✓ | +9.90% |
| 1-Day Change | -0.84%✓ | -0.98% |
| 1-Week Change | +0.27%✓ | +0.02% |
| 1-Month Change | +2.94%✓ | +1.18% |
| Current Price | $40.26 | $22.70 |
| AUM | $4.35B✓ | $2.45B |
| MER (Expense Ratio) | 22% | 0.65%✓ |
| Dividend Yield | 3.50% | 5.73%✓ |
| Distribution Frequency | Monthly | Monthly |
| Inception Date | 2011-04-12 | 2017-02-03 |
| Holdings Count | 10 | 10 |
| MorningStar Rating | ★★★★ | ★★ |
| Category | Canadian Dividend and Income Equity | Canadian Dividend and Income Equity |
| Beta | 0.76 | 0.79 |
| 52-Week High | $40.80 | $22.99 |
| 52-Week Low | $27.68 | $17.47 |
| 50-Day MA | $39.08 | $22.39 |
| 200-Day MA | $35.32 | $21.25 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | XEI | ZWC |
|---|---|---|
| YTD | +23.48%✓ | +9.90% |
| 1 Year | +45.81%✓ | +29.93% |
| 3 Year | +24.59%✓ | +18.37% |
| 5 Year | +16.83%✓ | +12.04% |
| 10 Year | +12.59% | — |
| 1Y Volatility | 6.83% | 7.83% |
| Sharpe Ratio (3Y) | 1.82 | 1.38 |
Past performance is not a guarantee of future results.
Top 10 Holdings
| 1 | TD | Toronto Dominion Bank | 5.41% |
| 2 | RY | Royal Bank of Canada | 5.33% |
| 3 | ENB | Enbridge Inc | 4.88% |
| 4 | TRP | TC Energy Corp | 4.67% |
| 5 | BMO | Bank of Montreal | 4.58% |
| 6 | CNQ | Canadian Natural Resources Ltd | 4.42% |
| 7 | SU | Suncor Energy Inc | 4.30% |
| 8 | BNS | Bank of Nova Scotia | 3.95% |
| 9 | CM | Canadian Imperial Bank Of Commerce | 3.92% |
| 10 | NTR | Nutrien Ltd | 3.85% |
| 1 | RY | Royal Bank of Canada | 7.71% |
| 2 | TD | Toronto Dominion Bank | 6.56% |
| 3 | CM | Canadian Imperial Bank Of Commerce | 5.98% |
| 4 | BNS | Bank of Nova Scotia | 5.87% |
| 5 | ENB | Enbridge Inc | 5.07% |
| 6 | CNQ | Canadian Natural Resources Ltd | 5.01% |
| 7 | TRP | TC Energy Corp | 4.25% |
| 8 | SU | Suncor Energy Inc | 4.04% |
| 9 | BMO | Bank of Montreal | 3.88% |
| 10 | FTS | Fortis Inc | 3.34% |
Sector Weights
| Sector | XEI | ZWC |
|---|---|---|
| Basic Materials | 4.06% | 11.63% |
| Communication Services | 7.12% | 6.41% |
| Consumer Cyclicals | 6.06% | 4.16% |
| Consumer Defensive | 0.55% | 1.50% |
| Energy | 30.45% | 21.36% |
| Financial Services | 31.94% | 41.35% |
| Healthcare | 0.22% | 0.00% |
| Industrials | 2.05% | 4.52% |
| Real Estate | 5.07% | 0.00% |
| Technology | 0.68% | 0.00% |
| Utilities | 11.80% | 9.07% |
About XEI
Seeks long-term capital growth by replicating the performance of the S&P/TSX Composite High Dividend Index, net of expenses.
About ZWC
NA
Which ETF is Right for You?
Both XEI and ZWC are listed on Canadian exchanges and accessible through most Canadian brokerages including Questrade, Wealthsimple Trade, TD Direct, and Interactive Brokers.
Based on the available data, XEI scores higher across our tracked metrics including YTD performance, dividend yield, and AUM — though both ETFs warrant individual research before investing.
- Consider your account type (TFSA, RRSP, non-registered) as it can affect dividend taxation.
- Compare management expense ratios (MER) directly on each provider's website.
- Look at average daily trading volume to assess liquidity.
- Review the fund's underlying index and holdings to ensure the exposure matches your goals.
This is not financial advice. Always do your own research or consult a licensed financial advisor before investing.
Frequently Asked Questions
What is the difference between XEI and ZWC?
XEI (iShares S&P/TSX Composite High Dividend Index ETF) and ZWC (BMO Canadian High Dividend Covered Call) are both Canadian-listed ETFs. Key differences include their AUM ($4.35B vs $2.45B), dividend yield (3.50% vs 5.73%), and year-to-date performance (+23.48% vs +9.90%).
Is XEI better than ZWC?
There is no single "better" ETF — it depends on your investment goals. If you prioritise recent performance, XEI has outperformed year-to-date. Always review the fund's prospectus and consider your tax situation.
Can I buy XEI and ZWC on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both XEI and ZWC should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
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