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

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BMO Covered Call Canadian Banks ETF (ZWB.TO)

31.25

+0.20 (0.64%)

as of Jul 24, 2026, 7:54:39 pm Market Open.

328 watching

Investor Insights

Jul 26, 2026, 12:00 am

This summary was created by AI, based on 8 opinions in the last 12 months.

The BMO Covered Call Canadian Banks ETF (ZWB) has received mixed reviews from experts, emphasizing its appeal for those seeking income through covered call strategies. With a management expense ratio (MER) of 71 basis points and a yield around 5.6%, it has performed well over the past year, though it has underperformed compared to its equal-weight counterpart, ZEB. Experts caution against adding new funds at this stage given potential economic headwinds, stating that while the ETF provides defensive qualities through covered calls, it sacrifices some upside potential. The concentration in the Canadian banking sector and exposure to broader market fluctuations are significant considerations for investors. Additionally, comparisons with U.S. banks suggest a possible advantage for more innovative and diversified investments in that sector.

Consensus

Cautious

Valuation

Fair Value

Similar

ZEB

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)