Stock price when the opinion was issued
Likes it. A little more restricted than the ZWH, and the yield is about 1.5% lower than that one. Might be better for growth instead of income.
His least favourite BMO ETF, terrible way to get exposure to US equities. Not because it's BMO or because of the structure, but because it's the Dow. DJIA is weighted by the size of a company's stock, so higher prices get more weight than lower. Terrible index.
He'd much prefer an ETF that's in the S&P 500 or an equal-weight US market exposure.
He likes covered call strategies during the summer. If we are expecting a flat to negative print on the broad market tape, then really you want to be in some of these covered call names. In a higher trending market, you are going to be called away from these positions, which is detrimental to the price of these covered call ETFS. In a flat to negative trending market, you are benefiting from the covered call overlay, which is 2% above the benchmark yield of about 2.7%.