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 $11.57 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: +4.33%, 1-year: +6.17%, 3-year annualised: +11.63%, 5-year annualised: +5.04%, 10-year annualised: +5.35%. Past performance is not a guarantee of future results. The 3-year Sharpe ratio is 0.80, 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 7.17%, 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 TC Energy Corp (TRP, 5.3%), BMO Equal Weight Utilities Index ETF (ZUT, 5.2%), Fortis Inc (FTS, 5.2%), Enbridge Inc (ENB, 5.2%), Hydro One Ltd (H, 5.2%) — 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 (53.0%), Energy (27.3%), Communication Services (19.7%). 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 $2.17B 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 8.69% and a beta of 0.25 (less volatile than the broad market). Its 3-year Sharpe ratio of 0.80 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
2026-08-20	$11.53	$11.64	$11.53	$11.57	$11.57	163,871
2026-08-19	$11.67	$11.67	$11.52	$11.57	$11.57	193,294
2026-08-18	$11.58	$11.69	$11.58	$11.63	$11.63	125,670
2026-08-17	$11.66	$11.66	$11.58	$11.58	$11.58	282,555
2026-08-14	$11.60	$11.68	$11.59	$11.66	$11.66	157,545
2026-08-13	$11.57	$11.61	$11.55	$11.61	$11.61	198,829
2026-08-12	$11.59	$11.59	$11.52	$11.54	$11.54	273,184
2026-08-11	$11.37	$11.54	$11.37	$11.52	$11.52	160,579
2026-08-10	$11.41	$11.41	$11.32	$11.38	$11.38	444,171
2026-08-07	$11.50	$11.50	$11.37	$11.45	$11.45	561,953

#	Ticker	Name	Weight
1	TRP	TC Energy Corp	5.34%
2	ZUT	BMO Equal Weight Utilities Index ETF	5.24%
3	FTS	Fortis Inc	5.19%
4	ENB	Enbridge Inc	5.18%
5	H	Hydro One Ltd	5.16%
6	PPL	Pembina Pipeline Corp	5.01%
7	WMB	Williams Companies Inc	4.59%
8	VZ	Verizon Communications Inc	4.52%
9	EMA	Emera Inc.	4.17%
10	T	AT&T Inc.	4.16%

Sector	Weight
Utilities	52.97%
Energy	27.32%
Communication Services	19.71%
Basic Materials	0.00%
Consumer Cyclicals	0.00%
Financial Services	0.00%
Real Estate	0.00%
Industrials	0.00%
Technology	0.00%
Consumer Defensive	0.00%
Healthcare	0.00%

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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