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BMO CA High Dividend Covered Call ETF (ZWC.TO) ETF Analysis

ZWC.TO

Expense ratio 0.65% Yield 6.06% Assets CA$2.42B Since February 12, 2026 Family BMO Asset Management Inc

Last Updated: October 21, 2026

CA$22.81

+CA$0.13 (+0.57%)

October 21, 2026 · Market close

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Price History

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

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ZWC.TO Annualized Returns

With dividends reinvested · as of October 21, 2026

Period	Total return	Annualized	CA$100 becomes	CA$300 becomes
1 year	+23.36%	+23.36%	CA$123.36	CA$370.07
3 years	+77.00%	+20.97%	CA$177.00	CA$531.01
5 years	+69.55%	+11.14%	CA$169.55	CA$508.64
Since February 14, 2017	+119.01%	+8.43%	CA$219.01	CA$657.02

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

ZWC.TO Return by Calendar Year

2017 and 2026 are partial years

−10.05%+25.39%+16.36%

2017*201820192020202120222023202420252026*

View as table ↓View as chart ↑

Year	Return
2026 (partial year)	+16.36%
2025	+22.79%
2024	+12.00%
2023	+7.54%
2022	−3.54%
2021	+25.39%
2020	−6.92%
2019	+17.32%
2018	−10.05%
2017 (partial year)	+7.12%

ZWC.TO Monthly Returns

−19%+10%

Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2026	+1.3	+7.1	−2.0	+2.6	+1.2	+1.1	+3.1	+0.1	−2.3	+3.4	—	—
2025	+2.6	+0.4	−0.4	−0.3	+3.6	+1.2	+1.3	+3.3	+3.0	+0.5	+4.4	+1.2
2024	−0.3	+1.6	+2.9	−2.7	+3.3	−2.7	+5.1	+2.0	+2.3	+0.1	+3.4	−3.3
2023	+6.8	−2.1	−1.3	+3.4	−6.4	+3.2	+1.1	−2.1	−2.5	−2.5	+6.9	+3.7
2022	+2.1	+1.3	+3.7	−3.3	+0.5	−7.8	+3.0	−1.7	−4.5	+4.8	+3.9	−4.7
2021	+0.4	+3.2	+5.4	+2.4	+4.1	+0.2	+0.6	+1.9	−1.0	+3.2	−1.6	+4.4
2020	+0.7	−6.8	−18.9	+5.5	+1.8	−0.1	+2.3	+3.8	−1.4	−1.3	+9.7	+0.6
2019	+7.7	+2.9	+1.5	+2.8	−3.3	+1.2	+0.2	−0.5	+2.9	−1.9	+3.2	−0.2
2018	−2.3	−3.0	−0.8	+1.4	+1.4	+1.8	+1.6	−1.5	−1.6	−4.3	+3.1	−5.9
2017	—	—	+1.5	+0.9	−1.0	−0.0	+0.4	−0.0	+2.9	+2.1	+1.0	+0.2

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

ZWC.TO Volatility & Risk

Volatility: 9 yrs · Beta: 3 yrs

Annualized volatility: 15.15%
Beta (3y): 0.77
Best year: +25.39%
Worst year: −10.05%

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

Top Holdings

#	Symbol	Name	Weight
1	RY	Royal Bank of Canada	7.77%
2	TD	The Toronto-Dominion Bank	6.29%
3	BNS.TO	Bank of Nova Scotia	5.71%
4	CM.TO	Canadian Imperial Bank of Commerce	5.37%
5	CNQ.TO	Canadian Natural Resources Ltd	5.36%
6	SU.TO	Suncor Energy Inc	4.82%
7	ENB.TO	Enbridge Inc	4.13%
8	BMO.TO	Bank of Montreal	3.7%
9	TRP.TO	TC Energy Corp	3.64%
10	NTR.TO	Nutrien Ltd	3.5%

Analysis

Data-derived

Fund Overview

BMO CA High Dividend Covered Call ETF (ZWC.TO) is an exchange-traded fund. The fund is issued by BMO Asset Management Inc. It has been trading since February 12, 2026. Total net assets stand at CA$2.42B. Annual costs run at an expense ratio of 0.65%. On a CA$10,000 position that is CA$65.00 a year.

The largest positions on file are Royal Bank of Canada (RY), The Toronto-Dominion Bank (TD), and Bank of Nova Scotia (BNS.TO). Royal Bank of Canada alone accounts for 7.77% of the portfolio. The ten largest positions together make up 50.32% of the fund.

Performance Analysis

The most recent close on file for ZWC.TO is CA$22.81, dated October 21, 2026. The trailing one-year total return is +23.36%. Measured over 5 years, that is +11.14% a year compounded. The trailing distribution yield is 6.06%.

2026 is still running; the total return is +16.36% year to date. Across the complete calendar years on file, 2021 returned +25.39% and 2018 returned −10.05%. Of the 8 complete calendar years on file, 5 finished higher.

Price & Risk Profile

The 52-week range on file runs from CA$19.53 to CA$23.22. The latest close sits 16.79% above that 52-week low. Annualized volatility over the trailing 9 years is 15.15%. Beta against the wider market is reported at 0.77. 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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