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BMO Covered Call Utilities ETF (ZWU.TO) ETF Analysis

ZWU.TO

Expense ratio 0.65% Yield 7.82% Assets CA$2.10B Since February 12, 2026 Family BMO Asset Management Inc

Last Updated: October 21, 2026

CA$11.07

+CA$0.01 (+0.09%)

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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ZWU.TO Annualized Returns

With dividends reinvested · as of October 21, 2026

Period	Total return	Annualized	CA$100 becomes	CA$300 becomes
1 year	+2.77%	+2.77%	CA$102.77	CA$308.31
3 years	+46.58%	+13.59%	CA$146.58	CA$439.74
5 years	+26.05%	+4.74%	CA$126.05	CA$378.16
10 years	+66.12%	+5.21%	CA$166.12	CA$498.36

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

ZWU.TO Return by Calendar Year

2016 and 2026 are partial years

+23.48%−7.09%+5.52%

2016*2017201820192020202120222023202420252026*

View as table ↓View as chart ↑

Year	Return
2026 (partial year)	+5.52%
2025	+13.18%
2024	+10.97%
2023	−2.79%
2022	−3.89%
2021	+15.80%
2020	−7.09%
2019	+23.48%
2018	−5.73%
2017	+5.63%
2016 (partial year)	−0.79%

ZWU.TO Monthly Returns

−16%+8%

Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2026	+3.6	+7.1	+0.7	−0.9	−0.1	−0.4	+0.3	−2.6	−4.8	+3.0	—	—
2025	+1.1	+4.0	+2.7	−0.3	+0.4	+0.4	+2.2	+1.6	+2.4	−1.0	+1.6	−2.4
2024	+0.2	−1.3	+2.0	−1.4	+4.8	−2.0	+6.0	+2.5	+3.8	−0.9	+1.4	−4.2
2023	+2.4	−4.1	+2.6	+2.9	−5.5	+0.6	−1.4	−2.5	−5.2	−0.2	+6.2	+2.1
2022	+0.9	−0.2	+5.1	−2.0	+3.4	−5.2	+2.9	−1.9	−9.1	+2.1	+3.3	−2.2
2021	+1.8	−2.0	+7.0	+1.7	+0.4	+1.1	+2.4	+0.6	−2.2	+1.7	−2.6	+5.3
2020	+3.6	−6.4	−15.3	+6.0	+2.2	−2.8	+3.1	+0.1	−0.4	−0.9	+6.3	−0.8
2019	+6.5	+3.5	+2.7	+0.1	+0.3	+1.2	−0.1	+2.9	+2.2	−1.1	+1.7	+1.6
2018	−3.8	−4.4	+0.3	+0.5	+0.2	+3.4	+1.5	−0.5	−1.5	−1.0	+4.7	−5.0
2017	−0.0	+1.1	+2.1	+0.6	+1.1	−1.0	+0.3	+0.3	+0.8	+1.1	+1.0	−1.7

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

ZWU.TO Volatility & Risk

Volatility: 10 yrs · Beta: 3 yrs

Annualized volatility: 14.24%
Beta (3y): 0.14
Best year: +23.48%
Worst year: −7.09%

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

Top Holdings

#	Symbol	Name	Weight
1	VZ	Verizon Communications Inc	5.42%
2	FTS.TO	Fortis Inc	5.13%
3	ZUT.TO	BMO Equal Weight Utilities ETF	5.09%
4	TRP.TO	TC Energy Corp	4.99%
5	T	AT&T Inc	4.99%
6	PPL.TO	Pembina Pipeline Corp	4.96%
7	H.TO	Hydro One Ltd	4.81%
8	ENB.TO	Enbridge Inc	4.76%
9	WMB	Williams Companies Inc	4.66%
10	RCI-B.TO	Rogers Communications Inc Shs -B- Non-Voting	4.34%

Analysis

Data-derived

Fund Overview

BMO Covered Call Utilities ETF (ZWU.TO) is an exchange-traded fund. The fund holds CA$2.10B in total net assets. Annual costs run at an expense ratio of 0.65%. On a CA$10,000 position that is CA$65.00 a year. BMO Asset Management Inc is the fund family on file. It has been trading since February 12, 2026.

The largest positions on file are Verizon Communications Inc (VZ), Fortis Inc (FTS.TO), and BMO Equal Weight Utilities ETF (ZUT.TO). Verizon Communications Inc alone accounts for 5.42% of the portfolio. The ten largest positions together make up 49.14% of the fund.

Performance Analysis

ZWU.TO last closed at CA$11.07 on October 21, 2026. The trailing one-year total return is +2.77%. Measured over 10 years, that is +5.21% a year compounded. The fund distributes at a trailing yield of 7.82%.

So far in 2026 the total return is +5.52%. Across the complete calendar years on file, 2019 returned +23.48% and 2020 returned −7.09%. Of the 9 complete calendar years on file, 5 finished higher.

Price & Risk Profile

Over the past 52 weeks the price has ranged from CA$10.67 to CA$12.32. The latest close sits 3.75% above that 52-week low. Annualized volatility over the trailing 10 years is 14.24%. The reported beta is 0.14. 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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