Hamilton Enhanced Canadian Equity DayMAX ETF (CDAY-NE)

At his firm they can do their own, so he wouldn't use it. That said, the zero-day strategies (where they write options every day) have their pluses and minuses. Generate lots of capital gains by way of distributions, but give up a lot of upside potential. Specifically for income seekers and those wanting tax-efficient income.

If that's who you are, then they're probably appropriate for some part of your income portfolio. If you're a long-term capital gains investor, these aren't for you -- you'll likely underperform in the long run.

Be cautious with covered call strategies. Look instead to the ishares TSX High Dividend ETF and the Vangard High Dividend Index ETF for better returns. As mentioned before he prefers buying the underlying securities for more upside. This could work though, if you are looking just for income.