A side-by-side comparison of iShares MSCI Europe IMI Index ETF (XEU) and BMO Europe High Dividend Covered Call ETF (ZWP) 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 | XEU | ZWP |
|---|---|---|
| YTD Return | +6.34%✓ | +1.08% |
| 1-Day Change | -0.74% | -0.72%✓ |
| 1-Week Change | -0.96% | -0.34%✓ |
| 1-Month Change | -2.87% | -2.19%✓ |
| Current Price | $40.24 | $20.59 |
| AUM | $675M | $1.08B✓ |
| MER (Expense Ratio) | 0%✓ | 0.65% |
| Dividend Yield | 2.65% | 6.12%✓ |
| Distribution Frequency | Half-yearly | Monthly |
| Inception Date | 2014-04-15 | 2018-03-01 |
| Holdings Count | 10 | 10 |
| MorningStar Rating | ★★★★ | ★★★★ |
| Category | European Equity | European Equity |
| Beta | 1.01 | 0.77 |
| 52-Week High | $41.83 | $21.30 |
| 52-Week Low | $32.79 | $17.42 |
| 50-Day MA | $40.49 | $20.71 |
| 200-Day MA | $38.62 | $20.36 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | XEU | ZWP |
|---|---|---|
| YTD | +6.34%✓ | +1.08% |
| 1 Year | +20.07%✓ | +15.91% |
| 3 Year | +17.37%✓ | +13.79% |
| 5 Year | +11.15%✓ | +10.70% |
| 10 Year | +10.43% | — |
| 1Y Volatility | 11.62% | 10.26% |
| Sharpe Ratio (3Y) | 1.33 | 1.14 |
Past performance is not a guarantee of future results.
Top 10 Holdings
| 1 | ASML | ASML Holding N.V. | 4.81% |
| 2 | HSBA | HSBC Holdings PLC | 2.05% |
| 3 | ROP | Roche Holding AG | 1.83% |
| 4 | NOVN | Novartis AG | 1.81% |
| 5 | AZN | AstraZeneca PLC | 1.79% |
| 6 | NESN | Nestle S.A. | 1.67% |
| 7 | SIE | Siemens Aktiengesellschaft | 1.51% |
| 8 | SHEL | Shell plc | 1.38% |
| 9 | SAN | Banco Santander S.A. | 1.25% |
| 10 | IEUR | iShares Core MSCI Europe ETF | 1.18% |
| 1 | HSBA | HSBC Holdings PLC | 5.59% |
| 2 | ASML | ASML Holding N.V. | 5.52% |
| 3 | SIE | Siemens Aktiengesellschaft | 5.22% |
| 4 | ISP | Intesa Sanpaolo SpA | 5.18% |
| 5 | ROP | Roche Holding AG | 4.85% |
| 6 | TTE | TotalEnergies SE | 4.67% |
| 7 | RIO | Rio Tinto PLC | 4.67% |
| 8 | ENEL | Enel SpA | 4.31% |
| 9 | NOVN | Novartis AG | 3.95% |
| 10 | DTE | Deutsche Telekom AG | 3.94% |
Sector Weights
| Sector | XEU | ZWP |
|---|---|---|
| Basic Materials | 5.44% | 5.66% |
| Communication Services | 3.60% | 6.04% |
| Consumer Cyclicals | 6.96% | 3.79% |
| Consumer Defensive | 8.35% | 7.85% |
| Energy | 4.81% | 8.49% |
| Financial Services | 23.74% | 24.93% |
| Healthcare | 12.56% | 12.61% |
| Industrials | 19.67% | 14.85% |
| Real Estate | 1.50% | 0.00% |
| Technology | 8.85% | 6.63% |
| Utilities | 4.50% | 9.15% |
About XEU
iShares MSCI Europe IMI Index ETF (XEU.TO) is a Canadian-listed ETF traded on the Toronto Stock Exchange. More detailed information will be available soon.
About ZWP
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Which ETF is Right for You?
Both XEU and ZWP 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, ZWP 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 XEU and ZWP?
XEU (iShares MSCI Europe IMI Index ETF) and ZWP (BMO Europe High Dividend Covered Call ETF) are both Canadian-listed ETFs. Key differences include their AUM ($675M vs $1.08B), dividend yield (2.65% vs 6.12%), and year-to-date performance (+6.34% vs +1.08%).
Is XEU better than ZWP?
There is no single "better" ETF — it depends on your investment goals. If you prioritise recent performance, XEU has outperformed year-to-date. Always review the fund's prospectus and consider your tax situation.
Can I buy XEU and ZWP on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both XEU and ZWP should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
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