A side-by-side comparison of BMO Canadian High Dividend Covered Call (ZWC) and Vanguard FTSE Canadian High Dividend Yield (VDY) 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 | ZWC | VDY |
|---|---|---|
| YTD Return | +8.23% | +23.18%✓ |
| 1-Day Change | 0.00%✓ | -0.16% |
| 1-Week Change | +0.86% | +1.36%✓ |
| 1-Month Change | -1.41% | -0.25%✓ |
| Current Price | $22.35 | $76.72 |
| AUM | $2.44B | $8.98B✓ |
| MER (Expense Ratio) | 0.67% | 0%✓ |
| Dividend Yield | 5.83%✓ | 3.18% |
| Distribution Frequency | Monthly | Monthly |
| Inception Date | 2017-02-03 | 2012-11-02 |
| Holdings Count | 10 | 10 |
| MorningStar Rating | — | — |
| Category | — | — |
| Beta | 0.77 | 0.80 |
| 52-Week High | $22.97 | $78.88 |
| 52-Week Low | $18.43 | $55.51 |
| 50-Day MA | $22.66 | $76.83 |
| 200-Day MA | $22.04 | $71.47 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | ZWC | VDY |
|---|---|---|
| YTD | +8.23% | +23.18%✓ |
| 1 Year | +18.59% | +32.96%✓ |
| 3 Year | +17.81% | +28.57%✓ |
| 5 Year | +10.38% | +16.82%✓ |
| 10 Year | — | +14.71% |
| 1Y Volatility | 9.22% | 10.17% |
| Sharpe Ratio (3Y) | 1.58 | 2.36 |
Past performance is not a guarantee of future results.
Top 10 Holdings
| 1 | RY | Royal Bank of Canada | 7.83% |
| 2 | TD | Toronto Dominion Bank | 6.11% |
| 3 | CNQ | Canadian Natural Resources Ltd | 6.07% |
| 4 | BNS | Bank of Nova Scotia | 5.80% |
| 5 | CM | Canadian Imperial Bank Of Commerce | 5.89% |
| 6 | SU | Suncor Energy Inc | 4.83% |
| 7 | ENB | Enbridge Inc | 4.19% |
| 8 | BMO | Bank of Montreal | 3.89% |
| 9 | TRP | TC Energy Corp | 3.53% |
| 10 | AEM | Agnico Eagle Mines Limited | 3.33% |
| 1 | RY | Royal Bank of Canada | 16.41% |
| 2 | TD | Toronto Dominion Bank | 11.31% |
| 3 | BMO | Bank of Montreal | 6.87% |
| 4 | BNS | Bank of Nova Scotia | 6.14% |
| 5 | ENB | Enbridge Inc | 6.25% |
| 6 | CM | Canadian Imperial Bank Of Commerce | 5.68% |
| 7 | CNQ | Canadian Natural Resources Ltd | 5.74% |
| 8 | SU | Suncor Energy Inc | 4.16% |
| 9 | MFC | Manulife Financial Corp | 3.97% |
| 10 | TRP | TC Energy Corp | 3.52% |
Sector Weights
| Sector | ZWC | VDY |
|---|---|---|
| Basic Materials | 13.21% | 2.15% |
| Communication Services | 5.45% | 2.49% |
| Consumer Cyclicals | 3.98% | 2.80% |
| Consumer Defensive | 1.93% | 0.32% |
| Energy | 21.07% | 28.80% |
| Financial Services | 40.13% | 59.53% |
| Healthcare | 0.00% | 0.08% |
| Industrials | 5.60% | 0.23% |
| Real Estate | 0.00% | 0.00% |
| Technology | 0.00% | 0.38% |
| Utilities | 7.92% | 3.58% |
About ZWC
NA
About VDY
Vanguard FTSE Canadian High Dividend Yield Index ETF seeks to track, to the extent reasonably possible and before fees and expenses, the performance of a broad Canadian equity index that measures the investment return of common stocks of Canadian companies that are characterized by high dividend yield. Currently, this Vanguard ETF seeks to track the FTSE Canada High Dividend Yield Index (or any successor thereto). It invests primarily in common stocks of Canadian companies that pay dividends.
Which ETF is Right for You?
Both ZWC and VDY 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, VDY 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 VDY?
ZWC (BMO Canadian High Dividend Covered Call) and VDY (Vanguard FTSE Canadian High Dividend Yield) are both Canadian-listed ETFs. Key differences include their AUM ($2.44B vs $8.98B), dividend yield (5.83% vs 3.18%), and year-to-date performance (+8.23% vs +23.18%).
Is ZWC better than VDY?
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 VDY on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both ZWC and VDY should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
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