BMO Europe High Dividend Covered Call Hedged…

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BMO Europe High Dividend Covered Call Hedged to CAD ET (ZWE.TO)

21.75

+0.01 (0.05%)

as of Jul 24, 2026, 7:59:33 pm Market Open.

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Investor Insights

Jul 26, 2026, 12:00 am

This summary was created by AI, based on 10 opinions in the last 12 months.

Experts are generally optimistic about the BMO Europe High Dividend Covered Call Hedged to CAD ETF (ZWE-T), citing potential opportunities in European markets. They argue that with increasing budgets and fiscal spending in Europe, alongside historically higher dividend payouts compared to U.S. stocks, ZWE offers an appealing combination of income and moderate growth. While many acknowledge the advantages of utilizing covered call strategies for added income, they caution that investors seeking more capital appreciation may benefit from direct equity ownership. Some experts emphasize the utility of ZWE in registered accounts due to the favorable tax treatment of foreign dividends, reinforcing the fund's attractiveness for income-focused investors. Overall, the sentiment leans toward a preference for a balanced approach, suggesting a pair of ETFs such as ZWE and ZWP may serve as complementary investments.

Consensus

Positive

Valuation

Fair Value

Similar

ZWP

DON'T BUY

Fairly high dividend yield of 7.5%, however he's underweight Europe at this point almost to the point of having nothing in Europe. He owns only an energy name or two. Energy crisis plus the Ukraine-Russia situation. Europe is a bit closer to a more severe downturn than we are on this side of the pond.

DON'T BUY

It has a yield of about 6%. You are investing in the European market through covered call writing. There is uncertainty in oil and gas due to the conflict and he is less bullish on Europe. The world economy is not growing especially in Europe. This is a time when you should take less risk. We are in a 'return of your capital' market, not a 'return on your capital' market

BUY

If looking for dividends this ETF is a good buy. Provides good international exposure for portfolio. No taxable benefit, but helps diversify portfolio.

DON'T BUY

Problem with European business is government politics get in the way. Quality business names but difficult to make high returns in Europe. Would prefer US or Canadian banking ETFs.

BUY ON WEAKNESS

If you want to extract yield from the best companies in Europe, it is a great way to do it. There could be volatility. When there is volatility, it is when you want to put money to work.

PARTIAL BUY

Owns ZWP instead, which is un-hedged. Looking at the next 2-4 years, where is the value in the world? The value is most likely in Europe. They have a better yield. Likes this for international exposure.

BUY

ZWE vs. ZWU ZWU includes telecoms, pipelines, and electric companies as well as utilities. ZWU is good for the conservative investor, who wants a nice yield of tax-efficient income, with a very good yield about 7.5%. Longer term, you might have more growth in ZWE if you can look beyond the next 6-12 months.

BUY

ZWE is a high dividend covered call exposure to the best European payers. Good for those looking for exposure in the space. It hedges the currencies, so you don't have to worry about foreign currency volatility. Likely be able to maintain a good distribution unit. Good long term holding.

BUY

ZWE has a currency hedge. If there is a global downtown and it is meaningful, then you would be concerned. Doesn't think we will see this. It will be a normal 5-10%. When you get the big sell-offs, you don't want to hold covered calls because you don't get the upside capture. Right now, both of these would work. Would fall less than the other names.

COMMENT

ZPAY is his favourite way to play the US market. European ZWE is for Europe and if you need Canadian exposure. ZPAY is designed to yield around 6%. Will have some volatility but will have half of what the S&P will see.

COMMENT

For yield seekers, ZWU is a great domestic play. Yield is currently around 7%. It is interest rate sensitive and to energy. If you want European dividend plays, he would recommend ZWE and ZWP.

BUY

Both are good. If you want to extract yield form Europe, it is the better way to invest. Still owns them in his portfolios and strategies. One is currency hedged while the other is not.

COMMENT

Likes Europe better. When not investing in Canada, you don't get the dividend tax credit. In a taxable account, would focus on ZWU since it has favourable tax treatment. In a registered account, he has been allocating to international companies since dividend is better.

COMMENT

They are both identical. ZWP is not currency hedged. ZWE will hedge those currencies. Right now, he would want more exposure to a strengthening Euro than the CAD.

COMMENT

Fee is 72 basis points. Europe is a value space, which has started to outperform growth. He'd rather own the underlying securities, as you get a better return without the covered call overlay.

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BMO Europe High Dividend Covered Call Hedged to CAD ET (ZWE.TO)