BMO Dow Jones Indus. Avg. Hedge ETF (ZWA-T) Stock Predictions - Stockchase
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BMO Dow Jones Indus. Avg. Hedge ETF (ZWA-T)

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BMO Dow Jones Indus. Avg....

ZWA-T

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BMO Dow Jones Indus. Avg. Hedge ETF (ZWA-T) SAVE Apr, 19, 2019, 9:22 am

23.36 0.11 (0.47%)

What the experts are saying about ZWA-T



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WEAK BUY
ZWA-T vs. ZWS-T. ZWA-T is the Dow 30 with a covered call overlay. ZWS-T is a broader ETF with 50 holdings, much more diversified and just the DOW index and it also has a covered call overlay. He would prefer ZWS-T. He is looking at buying a lot more of this one.
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ZWA-T vs. ZWS-T. ZWA-T is the Dow 30 with a covered call overlay. ZWS-T is a broader ETF with 50 holdings, much more diversified and just the DOW index and it also has a covered call overlay. He would prefer ZWS-T. He is looking at buying a lot more of this one.
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Larry Berman CF

Chief Inve, ETF Capital Manageme...

Price Price
$23.160
Owned Owned
Unknown

PAST TOP PICK

(A Top Pick May 18/18, Up 5%) Covered call adds yield when the market goes sideways, as it usually does in the summer. You don’t have to time the market, you just participate and take down portfolio risk.

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(A Top Pick May 18/18, Up 5%) Covered call adds yield when the market goes sideways, as it usually does in the summer. You don’t have to time the market, you just participate and take down portfolio risk.

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Jon Vialoux

Research A, CastleMoore Inc....

Price Price
$23.640
Owned Owned
Yes

TOP PICK

Extra 2% return on the Dow. A way to mitigate volatility. Play on the broad market in a good economy. 

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Extra 2% return on the Dow. A way to mitigate volatility. Play on the broad market in a good economy. 

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Jon Vialoux

Research A, CastleMoore Inc....

Price Price
$22.870
Owned Owned
No

PAST TOP PICK

(Top Pick Jun 28/17, Up 0.73%)  The Dow has been the place to be.  It has been a great hold.  He likes the covered call aspect for the summer.  You can collect the extra yield in that time. 

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(Top Pick Jun 28/17, Up 0.73%)  The Dow has been the place to be.  It has been a great hold.  He likes the covered call aspect for the summer.  You can collect the extra yield in that time. 

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Jon Vialoux

Research A, CastleMoore Inc....

Price Price
$21.220
Owned Owned
No

BUY

Increasing US exposure in the TSX ETF? There are a couple he would look at. BMO Dow Jones Indus. Avg. Hedge (ZWA-T), which is a covered call on the Dow stocks, as well as BMO US High Dividend Covered Call (ZWH-T) which is based on the higher dividend paying S&P. He likes both of these. They are more expensive because they are Covered Calls, but is quite impressed with the value added. He has a lot of these.

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Increasing US exposure in the TSX ETF? There are a couple he would look at. BMO Dow Jones Indus. Avg. Hedge (ZWA-T), which is a covered call on the Dow stocks, as well as BMO US High Dividend Covered Call (ZWH-T) which is based on the higher dividend paying S&P. He likes both of these. They are more expensive because they are Covered Calls, but is quite impressed with the value added. He has a lot of these.

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John Hood

President , J. C Hood Investment...

Price Price
$21.130
Owned Owned
Yes

TOP PICK

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%.

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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%.

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Jon Vialoux

Research A, CastleMoore Inc....

Price Price
$21.145
Owned Owned
No

COMMENT

DOW mature blue chip companies with a covered call overlay.  ZPW-T or a hedged version, which is even better, would be better going forward.

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DOW mature blue chip companies with a covered call overlay.  ZPW-T or a hedged version, which is even better, would be better going forward.

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Larry Berman CF

Chief Inve, ETF Capital Manageme...

Price Price
$20.150
Owned Owned
Unknown

WAIT

ZWH-T vs. ZWA-T.  ZWH-T is high dividend exposure split across all economic sectors, but you have exposure to the US$.  ZWA-T is narrower and has a currency hedge.  For new money he would not put it into these as he is raising cash as he thinks another pullback is coming.

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ZWH-T vs. ZWA-T.  ZWH-T is high dividend exposure split across all economic sectors, but you have exposure to the US$.  ZWA-T is narrower and has a currency hedge.  For new money he would not put it into these as he is raising cash as he thinks another pullback is coming.

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Larry Berman CF

Chief Inve, ETF Capital Manageme...

Price Price
$18.410
Owned Owned
Unknown

BUY

Dow with a covered call overlay and a currency hedge.  He prefers this to a basket of blue chips in the US.  ZUD-T is top dividend payers in the US with a currency hedge.

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Dow with a covered call overlay and a currency hedge.  He prefers this to a basket of blue chips in the US.  ZUD-T is top dividend payers in the US with a currency hedge.

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Larry Berman CF

Chief Inve, ETF Capital Manageme...

Price Price
$18.230
Owned Owned
Unknown

COMMENT

A covered call on the Dow. He still likes it. A core covered call holding for him. They take all 30 Dow stocks and sell calls against each of them individually. When you are selling calls on individual stocks “in” a basket, you are doing better than if you were just selling calls “on” the basket.

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A covered call on the Dow. He still likes it. A core covered call holding for him. They take all 30 Dow stocks and sell calls against each of them individually. When you are selling calls on individual stocks “in” a basket, you are doing better than if you were just selling calls “on” the basket.

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John Hood

President , J. C Hood Investment...

Price Price
$19.160
Owned Owned
Yes

COMMENT

How does hedging work?  Every month they look at the assets and write a forward contract on the currency.  The cost of hedging between US and Canadian $ is relatively low.  It costs 25-50 basis points and is part of the tracking error, rather than the MER.

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How does hedging work?  Every month they look at the assets and write a forward contract on the currency.  The cost of hedging between US and Canadian $ is relatively low.  It costs 25-50 basis points and is part of the tracking error, rather than the MER.

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Larry Berman CF

Chief Inve, ETF Capital Manageme...

Price Price
$19.170
Owned Owned
Unknown

COMMENT

We have to remember what a Covered Call is. Money comes into this ETF and there is an obligation to Sell stock at a particular price. Covered Calls can limit your upside. Covered calls look great in a trendless market. You don’t want markets way up and you don’t want markets way down. It definitely adds income to your portfolio. When looking at this, you have to look at the marketplace and get some idea where you think the markets are going.

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We have to remember what a Covered Call is. Money comes into this ETF and there is an obligation to Sell stock at a particular price. Covered Calls can limit your upside. Covered calls look great in a trendless market. You don’t want markets way up and you don’t want markets way down. It definitely adds income to your portfolio. When looking at this, you have to look at the marketplace and get some idea where you think the markets are going.

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Michael Bowman

Portfolio , Wickham Investment M...

Price Price
$18.170
Owned Owned
Unknown

TOP PICK

This gives you some actual capital gains income from the US market, instead of always being in terms of income, because the covered calls are treated as capital gain. He likes it because he can be in the US market with a little bit of a hedge on, and he likes the income component of it. Also, BMO doesn’t sell the calls against the index; they sell them against all the stocks in the DOW, which gives you a better bang for the buck. You have to remember that this is a little expensive at around 70-75 basis points.

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This gives you some actual capital gains income from the US market, instead of always being in terms of income, because the covered calls are treated as capital gain. He likes it because he can be in the US market with a little bit of a hedge on, and he likes the income component of it. Also, BMO doesn’t sell the calls against the index; they sell them against all the stocks in the DOW, which gives you a better bang for the buck. You have to remember that this is a little expensive at around 70-75 basis points.

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John Hood

President , J. C Hood Investment...

Price Price
$19.870
Owned Owned
Yes

BUY

His biggest holding is ZWA-T because he wants US exposure, but not the currency risk.  It has a nicer yield.

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His biggest holding is ZWA-T because he wants US exposure, but not the currency risk.  It has a nicer yield.

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Larry Berman CF

Chief Inve, ETF Capital Manageme...

Price Price
$19.900
Owned Owned
Yes

COMMENT

He likes this. They sell the Calls on each of the 30 Dow stocks, which is why you get a better yield than if you are just selling it against the Dow or selling it against the equal weight bank index. However, the MER's are too high.

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He likes this. They sell the Calls on each of the 30 Dow stocks, which is why you get a better yield than if you are just selling it against the Dow or selling it against the equal weight bank index. However, the MER's are too high.

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John Hood

President , J. C Hood Investment...

Price Price
$19.600
Owned Owned
Unknown

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