Evolve Canadian Banks and Lifecos Yield Index Fund (BANK-T)

Holds both banks and lifecos, so a broader basket than ZEB. Light leverage at 1.25x (adds risk), so it amplifies the upside as well as the downside. Gives you a bit of a long-term chance of outperforming a bit, especially if markets go up in the very long term. 

Good if you want to make a macro call on rising rates, which is like the bread and butter of financial markets. His strategists are calling for rates to go the other way if there's a recession, and this ETF will participate in that.

Disclosure: Includes National Bank, which is where he works.

BANK includes an option overlay to enhance the yield. CEW is equal weight. Compare the two to determine what you're looking for. BANK is probably the safer choice at this point. But if markets go down rapidly, there's no protection anywhere.

If you want more income, and you're cautious on the market, then BANK will probably do better than CEW. If you're defensive to neutral on the outlook, then a covered call overlay will add value to your portfolio. Though there will be less total return in the long run.

If you're bullish on the underlying equities, then just buy them at either equal weight or market-cap weight. In that case, the CEW would do better.

Leveraged product, can be risky.
Active strategy that results in 14% yield.
.68% MER.
Would be hesitant given high yield.