A side-by-side comparison of BMO Canadian High Dividend Covered Call (ZWC) and iShares Canadian Financial Monthly Income Common Class (FIE) 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 | ZWC | FIE |
|---|---|---|
| YTD Return | +9.90% | +14.41%✓ |
| 1-Day Change | -0.98%✓ | -1.21% |
| 1-Week Change | +0.02% | +0.18%✓ |
| 1-Month Change | +1.18%✓ | +2.14% |
| Current Price | $22.70 | $11.43 |
| AUM | $2.45B✓ | $1.45B |
| MER (Expense Ratio) | 0.65% | 0%✓ |
| Dividend Yield | 5.73%✓ | 4.25% |
| Distribution Frequency | Monthly | Monthly |
| Inception Date | 2017-02-03 | 2010-04-16 |
| Holdings Count | 10 | 10 |
| MorningStar Rating | ★★ | ★★★★★ |
| Category | Canadian Dividend and Income Equity | Canadian Equity Balanced |
| Beta | 0.79 | 1.09 |
| 52-Week High | $22.99 | $11.63 |
| 52-Week Low | $17.47 | $8.34 |
| 50-Day MA | $22.39 | $10.97 |
| 200-Day MA | $21.25 | $10.19 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | ZWC | FIE |
|---|---|---|
| YTD | +9.90% | +14.41%✓ |
| 1 Year | +29.93% | +37.17%✓ |
| 3 Year | +18.37% | +27.31%✓ |
| 5 Year | +12.04% | +14.95%✓ |
| 10 Year | — | +12.92% |
| 1Y Volatility | 7.83% | 10.01% |
| Sharpe Ratio (3Y) | 1.38 | 1.90 |
Past performance is not a guarantee of future results.
Top 10 Holdings
| 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% |
| 1 | CPD | iShares S&P/TSX Canadian Preferred Share Index ETF Common Class | 17.66% |
| 2 | RY | Royal Bank of Canada | 8.79% |
| 3 | XCB | iShares Core Canadian Corporate Bond Index ETF | 8.69% |
| 4 | CM | Canadian Imperial Bank Of Commerce | 8.64% |
| 5 | TD | Toronto Dominion Bank | 8.56% |
| 6 | MFC | Manulife Financial Corp | 6.73% |
| 7 | NA | National Bank of Canada | 6.61% |
| 8 | BMO | Bank of Montreal | 6.09% |
| 9 | GWO | Great-West Lifeco Inc. | 4.54% |
| 10 | POW | Power Corporation Of Canada | 4.09% |
Sector Weights
| Sector | ZWC | FIE |
|---|---|---|
| Basic Materials | 11.63% | 0.00% |
| Communication Services | 6.41% | 0.00% |
| Consumer Cyclicals | 4.16% | 0.00% |
| Consumer Defensive | 1.50% | 0.00% |
| Energy | 21.36% | 0.00% |
| Financial Services | 41.35% | 96.04% |
| Healthcare | 0.00% | 0.00% |
| Industrials | 4.52% | 0.00% |
| Real Estate | 0.00% | 3.96% |
| Technology | 0.00% | 0.00% |
| Utilities | 9.07% | 0.00% |
About ZWC
NA
About FIE
iShares Canadian Financial Monthly Income Common Class (FIE.TO) is a Canadian-listed ETF traded on the Toronto Stock Exchange. More detailed information will be available soon.
Which ETF is Right for You?
Both ZWC and FIE 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, ZWC 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 ZWC and FIE?
ZWC (BMO Canadian High Dividend Covered Call) and FIE (iShares Canadian Financial Monthly Income Common Class) are both Canadian-listed ETFs. Key differences include their AUM ($2.45B vs $1.45B), dividend yield (5.73% vs 4.25%), and year-to-date performance (+9.90% vs +14.41%).
Is ZWC better than FIE?
There is no single "better" ETF — it depends on your investment goals. If you prioritise dividends, compare both yields and choose based on your income needs. Always review the fund's prospectus and consider your tax situation.
Can I buy ZWC and FIE on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both ZWC and FIE should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
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