Question 1

What is ZWU?

Accepted Answer

ZWU (BMO Covered Call Utilities ETF) is a Canadian-listed ETF trading on the TSX in the Other 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 $11.13 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 0.61% 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: +0.36%, 1-year: +4.13%, 3-year annualised: +13.45%, 5-year annualised: +5.05%, 10-year annualised: +5.47%. Past performance is not a guarantee of future results. The 3-year Sharpe ratio is 0.86, 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 7.75%, 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, 5.2%), Fortis Inc (FTS, 5.0%), BMO Equal Weight Utilities Index ETF (ZUT, 5.3%), AT&T Inc. (T, 4.9%), TC Energy Corp (TRP, 4.8%) — 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 (50.4%), Energy (26.9%), Communication Services (22.7%). 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 $2.18B 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 10.84% and a beta of 0.14 (less volatile than the broad market). Its 3-year Sharpe ratio of 0.86 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
2026-10-29	$11.02	$11.15	$11.02	$11.13	$11.13	252,500
2026-10-28	$11.16	$11.18	$11.08	$11.08	$11.08	516,259
2026-10-27	$11.12	$11.16	$11.09	$11.16	$11.16	161,900
2026-10-26	$11.15	$11.16	$11.07	$11.10	$11.10	247,064
2026-10-23	$11.15	$11.16	$11.09	$11.12	$11.12	93,315
2026-10-22	$11.05	$11.19	$11.05	$11.17	$11.17	406,693
2026-10-21	$11.07	$11.10	$11.05	$11.07	$11.07	296,897
2026-10-20	$11.00	$11.08	$11.00	$11.06	$11.06	169,064
2026-10-19	$11.14	$11.14	$10.98	$11.00	$11.00	389,336
2026-10-16	$11.06	$11.15	$11.03	$11.14	$11.14	285,271

#	Ticker	Name	Weight
1	VZ	Verizon Communications Inc	5.15%
2	FTS	Fortis Inc	5.04%
3	ZUT	BMO Equal Weight Utilities Index ETF	5.30%
4	T	AT&T Inc.	4.94%
5	TRP	TC Energy Corp	4.85%
6	PPL	Pembina Pipeline Corp	4.88%
7	H	Hydro One Ltd	4.85%
8	ENB	Enbridge Inc	4.62%
9	WMB	Williams Companies Inc	4.84%
10	KMI	Kinder Morgan Inc	4.13%

Sector	Weight
Utilities	50.38%
Energy	26.86%
Communication Services	22.68%
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%

Ticker	Name	Price	1D
CGMD		$7.10	+11.64%
LLHE-U	Harvest Eli Lilly Enhanced High Income Shares ETF	$11.25	+9.22%
GASD		$6.29	+8.45%
GDXD	BetaPro Canadian Gold Miners -2x Daily Bear ETF	$9.91	+7.89%
SLVD	BetaPro Silver -2x Daily Bear ETF	$45.86	+7.83%
HND	BetaPro Natural Gas 2x Daily Bear	$29.33	+6.97%
LLHE	Harvest Eli Lilly Enhanced High Income Shares ETF - Class A Units	$11.55	+6.06%
QQQD		$6.98	+4.96%

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