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TSX · CAD · ETF

BMO Covered Call Canadian Banks ETF (ZWB.TO) ETF Analysis

ZWB.TO
Expense ratio 0.65% Yield 5.54% Since January 24, 2022 Family BMO Asset Management Inc

Last Updated: October 21, 2026

CA$30.48
+CA$0.46 (+1.53%)

October 21, 2026 · Market close

Compare

Price History

Hover for the daily close. The dotted line marks the period open.

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ZWB.TO Annualized Returns

PeriodAnnualizedCA$100 becomes
1 year+40.64%CA$140.64
3 years+33.39%CA$237.35
5 years+14.68%CA$198.34
10 years+12.54%CA$325.75

Returns are total returns computed from daily closes, with dividends reinvested. As of October 21, 2026.

ZWB.TO Return by Calendar Year

2016 and 2026 are partial years

View as table ↓View as chart ↑
YearReturn
2026 (partial year)+27.02%
2025+34.91%
2024+19.41%
2023+6.67%
2022−11.00%
2021+30.81%
2020+1.68%
2019+14.32%
2018−8.08%
2017+11.52%
2016 (partial year)+11.21%

ZWB.TO Monthly Returns

−22%+12%
YearJanFebMarAprMayJunJulAugSepOctNovDec
2026−0.5+5.7−3.5+10.2+3.5+10.2+0.7−3.0−0.3+2.3——
2025+2.1−1.8−4.1+2.2+6.3+3.3+1.7+5.4+4.4+2.7+3.9+4.7
2024−1.3+1.7+4.5−3.4+2.5−3.1+5.6+3.3+4.3+0.6+4.7−1.0
2023+8.1−1.0−5.5+2.4−4.9+3.6+3.3−5.7−1.8−5.8+7.9+7.5
2022+4.8−0.4−1.8−6.5+3.1−10.0+3.0−3.4−1.2+3.7+4.6−6.1
2021+0.2+7.0+4.2+3.2+4.8−0.1+0.2+1.2−0.6+5.0−2.0+4.4
2020+1.3−3.3−21.2+2.7+1.9+3.7+1.4+9.3−4.1+0.1+11.8+2.0
2019+8.4+1.5−2.7+5.6−5.7+2.7+1.6−3.4+5.6+1.2+2.2−2.5
2018+1.5−2.7−1.1−0.2+1.7+0.5+2.9+1.7+0.4−6.5+0.7−6.7
2017+2.7+1.6−0.6−2.8−1.5+2.4+0.8−0.3+4.0+3.2+0.6+1.2

Monthly total returns with dividends reinvested; each cell prints its signed value.

ZWB.TO Volatility & Risk

Volatility: 10 yrs · Beta: 3 yrs
Annualized volatility
15.95%
Beta (3y)
0.88
Best year
+34.91%

2025

Worst year
−11.00%

2022

Volatility is the annualized standard deviation of daily returns. As of October 21, 2026.

Top Holdings

# Symbol Name Weight
1 ZEB.TO BMO Equal Weight Banks ETF 19.35%
2 BNS.TO Bank of Nova Scotia 14.43%
3 TD The Toronto-Dominion Bank 13.91%
4 BMO.TO Bank of Montreal 13.67%
5 RY Royal Bank of Canada 13.45%
6 CM.TO Canadian Imperial Bank of Commerce 12.69%
7 NA.TO National Bank of Canada 12.45%

Analysis

Data-derived

Fund Overview

BMO Covered Call Canadian Banks ETF (ZWB.TO) is an exchange-traded fund. The expense ratio is 0.65%. On a CA$10,000 position that is CA$65.00 a year. The fund is issued by BMO Asset Management Inc. The inception date on file is January 24, 2022.

The largest positions on file are BMO Equal Weight Banks ETF (ZEB.TO), Bank of Nova Scotia (BNS.TO), and The Toronto-Dominion Bank (TD). BMO Equal Weight Banks ETF alone accounts for 19.35% of the portfolio.

Performance Analysis

The most recent close on file for ZWB.TO is CA$30.48, dated October 21, 2026. Over the trailing twelve months the total return is +40.64%. Measured over 10 years, that is +12.54% a year compounded. The fund distributes at a trailing yield of 5.54%.

The strongest complete calendar year on file is 2025 at +34.91%; the weakest is 2022 at −11.00%. Of the 9 complete calendar years on file, 7 finished higher. So far in 2026 the total return is +27.02%.

Price & Risk Profile

Annualized volatility over the trailing 10 years is 15.95%. Beta against the wider market is reported at 0.88. Over the past 52 weeks the price has ranged from CA$22.86 to CA$32.24. The latest close sits 33.33% above that 52-week low. The volatility figure is calculated from the stored daily closes, the same series the charts on this page use.

Every figure above is read from this page's own data on each daily rebuild. Informational only, not financial advice. As of October 21, 2026.

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