A side-by-side comparison of BMO Covered Call Dow Jones Industrial Average Hedged to CAD ETF (ZWA) and Invesco QQQ Trust (QQQ) to help Canadian investors make an informed decision.
1-Year Performance
Normalised to 100 at the start — shows relative return over the trailing 12 months.
Head-to-Head Comparison
| Metric | ZWA | QQQ |
|---|---|---|
| YTD Return | -0.32%✓ | -0.88% |
| 1-Day Change | -1.00%✓ | -1.42% |
| 1-Week Change | -1.60% | +1.54%✓ |
| 1-Month Change | +0.87% | -3.30%✓ |
| Current Price | $27.67 | $715.34 |
| AUM | $214M | $482.97B✓ |
| MER (Expense Ratio) | 0.67% | 0.17%✓ |
| Dividend Yield | 6.03%✓ | 0.42% |
| Distribution Frequency | Monthly | Quarterly |
| Inception Date | 2011-10-20 | 1999-03-10 |
| Holdings Count | 10 | 101 |
| MorningStar Rating | — | — |
| Category | US Equity | US Equity |
| Beta | 0.73 | 1.26 |
| 52-Week High | $29.34 | $762.86 |
| 52-Week Low | $24.44 | $554.41 |
| 50-Day MA | $28.06 | $725.42 |
| 200-Day MA | $27.84 | $678.72 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | ZWA | QQQ |
|---|---|---|
| YTD | -0.32%✓ | -0.88% |
| 1 Year | +7.58% | +16.04%✓ |
| 3 Year | +14.37% | +27.86%✓ |
| 5 Year | +6.90% | +15.02%✓ |
| 10 Year | +9.51% | +20.78%✓ |
| 1Y Volatility | 10.14% | 21.91% |
| Sharpe Ratio (3Y) | 0.84 | 1.21 |
Past performance is not a guarantee of future results.
Top 10 Holdings
| 1 | GS | Goldman Sachs Group Inc | 10.20% |
| 2 | CAT | Caterpillar Inc | 9.11% |
| 3 | MSFT | Microsoft Corporation | 5.94% |
| 4 | AMGN | Amgen Inc | 4.91% |
| 5 | UNH | UnitedHealth Group Incorporated | 4.41% |
| 6 | V | Visa Inc. Class A | 4.25% |
| 7 | TRV | The Travelers Companies Inc | 4.00% |
| 8 | GOOGL | Alphabet Inc Class A | 4.03% |
| 9 | AAPL | Apple Inc. | 3.90% |
| 10 | JPM | JPMorgan Chase & Co | 3.74% |
| 1 | NVDA | NVIDIA Corporation | 7.85% |
| 2 | AAPL | Apple Inc. | 7.64% |
| 3 | MSFT | Microsoft Corporation | 6.31% |
| 4 | MU | Micron Technology Inc | 4.42% |
| 5 | AMZN | Amazon.com Inc | 4.43% |
| 6 | AMD | Advanced Micro Devices Inc | 4.01% |
| 7 | TSLA | Tesla Inc | 3.40% |
| 8 | GOOGL | Alphabet Inc Class A | 2.86% |
| 9 | META | Meta Platforms Inc. | 2.87% |
| 10 | SPCX | Space Exploration Technologies Corp. Class A Common Stock | 2.67% |
Sector Weights
| Sector | ZWA | QQQ |
|---|---|---|
| Basic Materials | 3.87% | 1.00% |
| Communication Services | 5.00% | 11.49% |
| Consumer Cyclicals | 9.32% | 10.40% |
| Consumer Defensive | 4.04% | 6.78% |
| Energy | 2.30% | 0.51% |
| Financial Services | 26.11% | 0.21% |
| Healthcare | 14.14% | 4.40% |
| Industrials | 15.86% | 5.51% |
| Real Estate | 0.00% | 0.00% |
| Technology | 19.39% | 60.25% |
| Utilities | 0.00% | 1.15% |
About ZWA
BMO Covered Call Dow Jones Industrial Average Hedged to CAD ETF (ZWA.TO) is a Canadian-listed ETF traded on the Toronto Stock Exchange. More detailed information will be available soon.
About QQQ
To maintain the correspondence between the composition and weights of the securities in the trust (the securities) and the stocks in the NASDAQ-100 Index®, the adviser adjusts the securities from time to time to conform to periodic changes in the identity and/or relative weights of index securities. The composition and weighting of the securities portion of a portfolio deposit are also adjusted to conform to changes in the index.
Which ETF is Right for You?
Both ZWA and QQQ 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, ZWA 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 ZWA and QQQ?
ZWA (BMO Covered Call Dow Jones Industrial Average Hedged to CAD ETF) and QQQ (Invesco QQQ Trust) are both Canadian-listed ETFs. Key differences include their AUM ($214M vs $482.97B), dividend yield (6.03% vs 0.42%), and year-to-date performance (-0.32% vs -0.88%).
Is ZWA better than QQQ?
There is no single "better" ETF — it depends on your investment goals. If you prioritise recent performance, ZWA has outperformed year-to-date. Always review the fund's prospectus and consider your tax situation.
Can I buy ZWA and QQQ on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both ZWA and QQQ should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
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