Question 1

What is ZWB?

Accepted Answer

ZWB (BMO Covered Call Canadian Banks ETF) is a Canadian-listed ETF trading on the TSX in the Financial Services Equity category. It tracks the Morningstar Gbl Fin Svc GR CAD.

Question 2

What is the ZWB ETF price today?

Accepted Answer

ZWB last traded at $29.65 CAD on the TSX. See the price chart above for recent performance.

Question 3

What is the ZWB MER (management expense ratio)?

Accepted Answer

ZWB has a management expense ratio (MER) of 0% per year. This fee is automatically deducted from the fund's assets, so you never pay it directly — but it does reduce your net returns over time. At 0%, ZWB is considered a low-cost ETF.

Question 4

What are ZWB annualised returns?

Accepted Answer

ZWB historical returns: YTD: +17.24%, 1-year: +42.21%, 3-year annualised: +30.30%, 5-year annualised: +15.70%, 10-year annualised: +12.70%. Past performance is not a guarantee of future results. The 3-year Sharpe ratio is 1.68, which measures risk-adjusted return.

Question 5

Does ZWB pay dividends or distributions?

Accepted Answer

Yes, ZWB distributes income to unitholders. The current distribution yield is approximately 5.29%, paid monthly. Distributions may include dividends, interest, capital gains, or return of capital depending on the fund's holdings. In a TFSA or RRSP, distributions are sheltered from tax.

Question 6

What does ZWB invest in?

Accepted Answer

ZWB's top holdings include BMO S&P/TSX Equal Weight Banks (ZEB, 19.7%), Bank of Nova Scotia (BNS, 14.2%), Toronto Dominion Bank (TD, 13.8%), Bank of Montreal (BMO, 13.4%), Royal Bank of Canada (RY, 13.4%) — and 2 more positions. See the full Top 10 Holdings table above for a complete breakdown. The fund tracks the Morningstar Gbl Fin Svc GR CAD.

Question 7

What sectors does ZWB invest in?

Accepted Answer

ZWB's largest sector exposures are Financial Services (100.0%), Energy (0.0%), Utilities (0.0%). The full sector breakdown is shown in the Sector Weights table on this page.

Question 8

How large is ZWB? (Assets under management)

Accepted Answer

ZWB has approximately $4.67B in assets under management (AUM). Larger AUM generally means better liquidity, tighter bid-ask spreads, and a lower risk of the fund being wound down.

Question 9

When was ZWB launched?

Accepted Answer

ZWB was launched on January 28, 2011, giving it a 15-year track record. A longer history makes it easier to evaluate how the ETF performs across different market cycles.

Question 10

How do I buy ZWB in Canada?

Accepted Answer

ZWB trades on the TSX under the ticker ZWB. You can buy it through any Canadian brokerage, including Wealthsimple Trade (commission-free), Questrade, TD Direct Investing, RBC Direct, and CIBC Investor's Edge. It can be held in a TFSA, RRSP, FHSA, or taxable account.

Question 11

How risky is ZWB?

Accepted Answer

ZWB has a 1-year volatility of 14.96% and a beta of 0.90 (roughly in line with the broad market). Its 3-year Sharpe ratio of 1.68 indicates solid risk-adjusted returns. As with all market-linked investments, past volatility does not predict future risk.

Date	Open	High	Low	Close	Adj Close	Volume
2026-10-01	$29.82	$29.82	$29.17	$29.65	$29.65	230,177
2026-09-30	$30.09	$30.15	$29.76	$29.79	$29.79	108,898
2026-09-29	$30.32	$30.32	$30.01	$30.16	$30.16	73,658
2026-09-28	$30.55	$30.74	$30.45	$30.52	$30.52	118,452
2026-09-25	$30.33	$30.68	$30.33	$30.66	$30.66	185,437
2026-09-24	$30.25	$30.32	$30.00	$30.25	$30.25	132,085
2026-09-23	$30.75	$30.81	$30.18	$30.18	$30.18	146,914
2026-09-22	$31.19	$31.19	$30.69	$30.85	$30.85	171,166
2026-09-21	$30.67	$31.14	$30.67	$31.12	$31.12	155,722
2026-09-18	$30.37	$30.65	$30.36	$30.64	$30.64	87,256

#	Ticker	Name	Weight
1	ZEB	BMO S&P/TSX Equal Weight Banks	19.67%
2	BNS	Bank of Nova Scotia	14.15%
3	TD	Toronto Dominion Bank	13.80%
4	BMO	Bank of Montreal	13.45%
5	RY	Royal Bank of Canada	13.42%
6	CM	Canadian Imperial Bank Of Commerce	12.68%
7	NA	National Bank of Canada	12.60%

Sector	Weight
Financial Services	100.00%
Energy	0.00%
Utilities	0.00%
Healthcare	0.00%
Technology	0.00%
Industrials	0.00%
Real Estate	0.00%
Basic Materials	0.00%
Consumer Cyclicals	0.00%
Consumer Defensive	0.00%
Communication Services	0.00%

Ticker	Name	Price	1D
MSTU		$43.77	+9.62%
OILU		$59.51	+6.19%
HOU	BetaPro Crude Oil Daily Bull ETF	$26.42	+5.98%
MUU		$19.42	+5.72%
RDDY	Harvest Reddit Enhanced High Income Shares ETF	$4.63	+5.71%
MSTE	Harvest MicroStrategy Enhanced High Income Shares ETF - Class A Units	$2.85	+4.40%
CSHI	Ninepoint Constellation Software HighShares ETF	$12.40	+4.11%
HND	BetaPro Natural Gas 2x Daily Bear	$24.40	+4.01%

CIBC Investor's Edge

BMO Covered Call Canadian Banks ETF (ZWB : TSX)

Price Chart (30 Days)

Key Statistics

Recent Price History

Annualised Returns

Top 10 Holdings

Sector Weights

ETF Details

7 stocks to buy and hold forever

Compare ZWB

Explore More

Compare ZWB vs Similar ETFs

Frequently Asked Questions — ZWB

What is ZWB?

What is the ZWB ETF price today?

What is the ZWB MER (management expense ratio)?

What are ZWB annualised returns?

Does ZWB pay dividends or distributions?

What does ZWB invest in?

What sectors does ZWB invest in?

How large is ZWB? (Assets under management)

When was ZWB launched?

How do I buy ZWB in Canada?

How risky is ZWB?

Recent ETF movers

ZWB.TO news timeline

Understanding Target Cash Flow ETFs: A New Approach to Cash Flow Investing

July 2024

July 2023

Period	Return
YTD	+17.24%
1 Year	+42.21%
3 Year (Ann.)	+30.30%
5 Year (Ann.)	+15.70%
10 Year (Ann.)	+12.70%
1Y Volatility	14.96%
Sharpe Ratio (3Y)	1.68