A side-by-side comparison of BMO Covered Call Utilities ETF (ZWU) and Hamilton Technology Yield Maximizer ETF (QMAX) 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 | ZWU | QMAX |
|---|---|---|
| YTD Return | +7.39% | +13.78%✓ |
| 1-Day Change | +0.63%✓ | -2.25% |
| 1-Week Change | +2.06%✓ | -2.48% |
| 1-Month Change | -0.46%✓ | +0.20% |
| Current Price | $11.91 | $25.60 |
| AUM | $2.21B✓ | $958M |
| MER (Expense Ratio) | 0.65% | — |
| Dividend Yield | 7.15% | 9.19%✓ |
| Distribution Frequency | Monthly | Monthly |
| Inception Date | 2011-10-20 | 2023-10-25 |
| Holdings Count | 10 | 10 |
| MorningStar Rating | — | — |
| Category | Sector Equity | Sector Equity |
| Beta | 0.24 | 0.00 |
| 52-Week High | $12.13 | $27.33 |
| 52-Week Low | $10.28 | $17.53 |
| 50-Day MA | $11.94 | $25.51 |
| 200-Day MA | $11.65 | $22.86 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | ZWU | QMAX |
|---|---|---|
| YTD | +7.39% | +13.78%✓ |
| 1 Year | +16.92% | +39.41%✓ |
| 3 Year | +11.28% | — |
| 5 Year | +6.37% | — |
| 10 Year | +6.21% | — |
| 1Y Volatility | 8.53% | 29.58% |
| Sharpe Ratio (3Y) | 0.76 | — |
Past performance is not a guarantee of future results.
Top 10 Holdings
| 1 | TRP | TC Energy Corp | 5.50% |
| 2 | ENB | Enbridge Inc | 5.27% |
| 3 | FTS | Fortis Inc | 5.16% |
| 4 | ZUT | BMO Equal Weight Utilities Index ETF | 5.09% |
| 5 | H | Hydro One Ltd | 4.97% |
| 6 | VZ | Verizon Communications Inc | 4.85% |
| 7 | PPL | Pembina Pipeline Corp | 4.81% |
| 8 | WMB | Williams Companies Inc | 4.49% |
| 9 | BCE | BCE Inc | 4.31% |
| 10 | RCI-B | Rogers Communications Inc | 4.31% |
| 1 | AMAT | Applied Materials Inc | 9.86% |
| 2 | INTC | Intel Corporation | 9.46% |
| 3 | AMD | Advanced Micro Devices Inc | 9.37% |
| 4 | LRCX | Lam Research Corp | 9.17% |
| 5 | MU | Micron Technology Inc | 9.05% |
| 6 | AAPL | Apple Inc. | 5.89% |
| 7 | GOOGL | Alphabet Inc Class A | 5.88% |
| 8 | TSLA | Tesla Inc | 5.73% |
| 9 | NVDA | NVIDIA Corporation | 5.65% |
| 10 | AVGO | Broadcom Inc | 5.63% |
Sector Weights
| Sector | ZWU | QMAX |
|---|---|---|
| Basic Materials | 0.00% | 0.00% |
| Communication Services | 21.16% | 18.01% |
| Consumer Cyclicals | 0.00% | 11.80% |
| Consumer Defensive | 0.00% | 0.00% |
| Energy | 27.89% | 0.00% |
| Financial Services | 0.00% | 0.00% |
| Healthcare | 0.00% | 0.00% |
| Industrials | 0.00% | 0.00% |
| Real Estate | 0.00% | 0.00% |
| Technology | 0.00% | 70.19% |
| Utilities | 50.95% | 0.00% |
About ZWU
BMO Covered Call Utilities ETF (ZWU.TO) is a Canadian-listed ETF traded on the Toronto Stock Exchange. More detailed information will be available soon.
About QMAX
Hamilton Technology Yield Maximizer ETF (QMAX.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 ZWU and QMAX 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, QMAX 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 ZWU and QMAX?
ZWU (BMO Covered Call Utilities ETF) and QMAX (Hamilton Technology Yield Maximizer ETF) are both Canadian-listed ETFs. Key differences include their AUM ($2.21B vs $958M), dividend yield (7.15% vs 9.19%), and year-to-date performance (+7.39% vs +13.78%).
Is ZWU better than QMAX?
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 ZWU and QMAX on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both ZWU and QMAX should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
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