BMO Covered Call Canadian Banks ETF (ZWB.TO)…

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BMO Covered Call Canadian Banks ETF (ZWB.TO)

28.91

+0.02 (0.07%)

as of Jun 5, 2026, 7:58:02 pm Market Open.

328 watching

Investor Insights

Jun 6, 2026, 12:00 am

This summary was created by AI, based on 9 opinions in the last 12 months.

The BMO Covered Call Canadian Banks ETF (ZWB) has received a mix of reviews from various experts, highlighting both its benefits and drawbacks. The ETF, which is concentrated in Canadian banks and designed to generate income through a covered call strategy, has seen a notable increase of approximately 52% over the last year, albeit less than the equal-weighted counterpart, ZEB, which rose by 63%. While many experts appreciate the extra layer of yield that the covered call provides, they also caution against investing heavily at this stage in the economic cycle due to potential downturns affecting bank performance. Concerns about underperformance relative to the underlying banks, and the inherent trade-offs of call writing, such as capping upside potential, were also articulated. Overall, ZWB is seen as a long-term holding for those looking for income, but caution is advised regarding new investments given current market conditions.

Consensus

Cautious

Valuation

Fair Value

Similar

ZEB-T

DON'T BUY

Covered Call Cdn Banks ETF. 9.7% yield is a big number. Not a huge fan of complex ETF’s like this one. If you like covered calls, you are far better to do them yourself. If you want to stay in the ETF space, look at the S&P Financial (XFN-T) has a very active options market so you can do this yourself.

BUY

Covered Call Cdn Banks ETF. Yield of around 9.5%. Yield will depend on volatility of bank stocks. Great way to pick up some good yield.

BUY

Covered Call Cdn Banks ETF. On this one you are long the big banks and you get covered call writing as a strategy and you don't have to rely on an adviser to do it.

COMMENT

As a conservative equity position it is actually pretty good. If it’s a long term hold, such as 10 years, you could be even more aggressive by using small caps and value stocks as opposed to banks.

BUY

Very interesting. Came out in mid-Feb. Earns call option premiums by investing in Canadian banks and then writing the calls. If you think the banks will go slightly up then this is a great one to own. Don’t if you think banks are coming down.

BUY

Covered call Canadian portfolio. Very new product. Mot something he would use because he does his own covered calls. This gives people the opportunity to buy a packaged deal, making it a very good thing. They do one-month expiries and he prefers 6 months as you get better protection on the downside. Shorter-term option gives you a greater rate of return but at a higher risk.

COMMENT

Covered Call Cdn Banks ETF. Basically a Covered Call Write on bank stocks so you are buying bank stocks and getting cash flow from covered writing. Downside is if you think banks will do reasonably well, you are capping your upside. Could use this as an alternative to bonds or preferred shares. Good in your portfolio if you are looking for an income component.

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BMO Covered Call Canadian Banks ETF (ZWB.TO)