Question 1

What is ZWU?

Accepted Answer

ZWU (BMO Covered Call Utilities ETF) is a Canadian-listed ETF trading on the TSX in the Sector Equity category. It tracks the Morningstar Global Markets GR CAD.

Question 2

What is the ZWU ETF price today?

Accepted Answer

ZWU last traded at $10.77 CAD on the TSX. See the price chart above for recent performance.

Question 3

What is the ZWU MER (management expense ratio)?

Accepted Answer

ZWU has a management expense ratio (MER) of 0.65% 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.

Question 4

What are ZWU annualised returns?

Accepted Answer

ZWU historical returns: YTD: -2.89%, 1-year: +2.02%, 3-year annualised: +10.14%, 5-year annualised: +4.42%, 10-year annualised: +4.86%. Past performance is not a guarantee of future results. The 3-year Sharpe ratio is 0.82, which measures risk-adjusted return.

Question 5

Does ZWU pay dividends or distributions?

Accepted Answer

Yes, ZWU distributes income to unitholders. The current distribution yield is approximately 7.39%, 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 ZWU invest in?

Accepted Answer

ZWU's top holdings include Verizon Communications Inc (VZ, 5.3%), BMO Equal Weight Utilities Index ETF (ZUT, 5.1%), Fortis Inc (FTS, 5.1%), TC Energy Corp (TRP, 4.9%), Pembina Pipeline Corp (PPL, 4.9%) — and 5 more positions. See the full Top 10 Holdings table above for a complete breakdown. The fund tracks the Morningstar Global Markets GR CAD.

Question 7

What sectors does ZWU invest in?

Accepted Answer

ZWU's largest sector exposures are Utilities (51.0%), Energy (26.7%), Communication Services (22.3%). The full sector breakdown is shown in the Sector Weights table on this page.

Question 8

How large is ZWU? (Assets under management)

Accepted Answer

ZWU has approximately $2.10B 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 ZWU launched?

Accepted Answer

ZWU was launched on October 20, 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 ZWU in Canada?

Accepted Answer

ZWU trades on the TSX under the ticker ZWU. 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 ZWU?

Accepted Answer

ZWU has a 1-year volatility of 9.30% and a beta of 0.23 (less volatile than the broad market). Its 3-year Sharpe ratio of 0.82 indicates moderate 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	$10.71	$10.78	$10.67	$10.77	$10.77	481,416
2026-09-30	$10.74	$10.79	$10.72	$10.75	$10.75	155,438
2026-09-29	$10.79	$10.79	$10.69	$10.75	$10.75	426,774
2026-09-28	$10.85	$10.86	$10.78	$10.84	$10.84	374,489
2026-09-25	$10.97	$10.97	$10.81	$10.85	$10.85	493,772
2026-09-24	$10.95	$11.02	$10.91	$10.91	$10.91	360,304
2026-09-23	$11.03	$11.05	$10.96	$10.99	$10.99	395,546
2026-09-22	$11.08	$11.14	$11.04	$11.04	$11.04	365,624
2026-09-21	$11.12	$11.17	$11.09	$11.10	$11.10	452,934
2026-09-18	$11.17	$11.18	$11.11	$11.14	$11.14	226,160

#	Ticker	Name	Weight
1	VZ	Verizon Communications Inc	5.32%
2	ZUT	BMO Equal Weight Utilities Index ETF	5.12%
3	FTS	Fortis Inc	5.07%
4	TRP	TC Energy Corp	4.92%
5	PPL	Pembina Pipeline Corp	4.92%
6	T	AT&T Inc.	4.89%
7	H	Hydro One Ltd	4.86%
8	ENB	Enbridge Inc	4.81%
9	WMB	Williams Companies Inc	4.73%
10	BCE	BCE Inc	4.33%

Sector	Weight
Utilities	50.98%
Energy	26.70%
Communication Services	22.31%
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%
Financial Services	0.00%

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MSTE	Harvest MicroStrategy Enhanced High Income Shares ETF - Class A Units	$2.85	+4.40%
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CIBC Investor's Edge

BMO Covered Call Utilities ETF (ZWU : TSX)

Price Chart (30 Days)

Key Statistics

Recent Price History

Annualised Returns

Top 10 Holdings

Sector Weights

ETF Details

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Frequently Asked Questions — ZWU