A side-by-side comparison of BMO Clean Energy Index ETF (ZCLN) and Invesco RAFI Global Small-Mid ETF CAD (PZW) 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 | ZCLN | PZW |
|---|---|---|
| YTD Return | +12.59% | +16.29%✓ |
| 1-Day Change | -3.00% | -0.04%✓ |
| 1-Week Change | -7.53% | -1.13%✓ |
| 1-Month Change | -8.40% | +4.43%✓ |
| Current Price | $20.39 | $48.32 |
| AUM | $89M✓ | $26M |
| MER (Expense Ratio) | 0% | 0% |
| Dividend Yield | 1.34% | 1.64%✓ |
| Distribution Frequency | Annually | Quarterly |
| Inception Date | 2021-01-26 | 2015-05-06 |
| Holdings Count | 10 | 2 |
| MorningStar Rating | ★★ | ★★★★ |
| Category | Global Small/Mid Cap Equity | Global Small/Mid Cap Equity |
| Beta | 1.02 | 1.03 |
| 52-Week High | $25.30 | $49.05 |
| 52-Week Low | $14.14 | $36.48 |
| 50-Day MA | $22.76 | $46.82 |
| 200-Day MA | $19.88 | $43.69 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | ZCLN | PZW |
|---|---|---|
| YTD | +12.59% | +16.29%✓ |
| 1 Year | +66.45%✓ | +31.25% |
| 3 Year | +6.81% | +19.00%✓ |
| 5 Year | +2.96% | +10.30%✓ |
| 10 Year | — | +11.13% |
| 1Y Volatility | 21.50% | 10.28% |
| Sharpe Ratio (3Y) | 0.39 | 1.22 |
Past performance is not a guarantee of future results.
Top 10 Holdings
| 1 | BE | Bloom Energy Corp | 12.62% |
| 2 | FSLR | First Solar Inc | 9.32% |
| 3 | NXT | Nextracker Inc. Class A Common Stock | 7.31% |
| 4 | 600900 | China Yangtze Power Co Ltd | 6.03% |
| 5 | ENPH | Enphase Energy Inc | 5.29% |
| 6 | PLUG | Plug Power Inc | 3.06% |
| 7 | VWS | Vestas Wind Systems A/S | 2.87% |
| 8 | SEDG | SolarEdge Technologies Inc | 2.61% |
| 9 | EQTL3 | Equatorial Energia S.A | 2.54% |
| 10 | SUZLON | Suzlon Energy Limited | 2.33% |
| 1 | PDN | Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF | 50.17% |
| 2 | PRFZ | Invesco FTSE RAFI US 1500 Small-Mid ETF | 49.36% |
Sector Weights
| Sector | ZCLN | PZW |
|---|---|---|
| Basic Materials | 1.59% | 6.98% |
| Communication Services | 0.00% | 3.75% |
| Consumer Cyclicals | 0.00% | 11.25% |
| Consumer Defensive | 0.00% | 4.04% |
| Energy | 0.00% | 4.98% |
| Financial Services | 0.00% | 12.90% |
| Healthcare | 0.00% | 11.16% |
| Industrials | 31.59% | 19.83% |
| Real Estate | 0.00% | 7.90% |
| Technology | 32.99% | 15.16% |
| Utilities | 33.83% | 2.07% |
About ZCLN
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About PZW
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Which ETF is Right for You?
Both ZCLN and PZW 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, PZW 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 ZCLN and PZW?
ZCLN (BMO Clean Energy Index ETF) and PZW (Invesco RAFI Global Small-Mid ETF CAD) are both Canadian-listed ETFs. Key differences include their AUM ($89M vs $26M), dividend yield (1.34% vs 1.64%), and year-to-date performance (+12.59% vs +16.29%).
Is ZCLN better than PZW?
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 ZCLN and PZW on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both ZCLN and PZW should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
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