A side-by-side comparison of BMO Canadian High Dividend Covered Call (ZWC) and BMO US High Dividend Covered Call ETF (ZWH) to help Canadian investors make an informed decision.
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1-Year Performance
Normalised to 100 at the start — shows relative return over the trailing 12 months.
Head-to-Head Comparison
| Metric | ZWC | ZWH |
|---|---|---|
| YTD Return | +9.90%✓ | +7.77% |
| 1-Day Change | -0.98% | +0.19%✓ |
| 1-Week Change | +0.02%✓ | -1.66% |
| 1-Month Change | +1.18%✓ | -1.41% |
| Current Price | $22.70 | $26.62 |
| AUM | $2.45B✓ | $1.13B |
| MER (Expense Ratio) | 0.65% | 0.65% |
| Dividend Yield | 5.73% | 5.89%✓ |
| Distribution Frequency | Monthly | Monthly |
| Inception Date | 2017-02-03 | 2014-02-10 |
| Holdings Count | 10 | 10 |
| MorningStar Rating | ★★ | ★★★ |
| Category | Canadian Dividend and Income Equity | U.S. Dividend & Income Equity |
| Beta | 0.79 | 0.61 |
| 52-Week High | $22.99 | $27.20 |
| 52-Week Low | $17.47 | $21.93 |
| 50-Day MA | $22.39 | $26.75 |
| 200-Day MA | $21.25 | $25.52 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | ZWC | ZWH |
|---|---|---|
| YTD | +9.90%✓ | +7.77% |
| 1 Year | +29.93%✓ | +18.24% |
| 3 Year | +18.37%✓ | +13.80% |
| 5 Year | +12.04%✓ | +10.02% |
| 10 Year | — | +9.24% |
| 1Y Volatility | 7.83% | 6.82% |
| Sharpe Ratio (3Y) | 1.38 | 1.08 |
Past performance is not a guarantee of future results.
Top 10 Holdings
| 1 | RY | Royal Bank of Canada | 7.71% |
| 2 | TD | Toronto Dominion Bank | 6.56% |
| 3 | CM | Canadian Imperial Bank Of Commerce | 5.98% |
| 4 | BNS | Bank of Nova Scotia | 5.87% |
| 5 | ENB | Enbridge Inc | 5.07% |
| 6 | CNQ | Canadian Natural Resources Ltd | 5.01% |
| 7 | TRP | TC Energy Corp | 4.25% |
| 8 | SU | Suncor Energy Inc | 4.04% |
| 9 | BMO | Bank of Montreal | 3.88% |
| 10 | FTS | Fortis Inc | 3.34% |
| 1 | ABBV | AbbVie Inc | 4.62% |
| 2 | CSCO | Cisco Systems Inc | 4.25% |
| 3 | AVGO | Broadcom Inc | 4.19% |
| 4 | JPM | JPMorgan Chase & Co | 4.09% |
| 5 | MRK | Merck & Company Inc | 3.88% |
| 6 | BAC | Bank of America Corp | 3.79% |
| 7 | IBM | International Business Machines | 3.76% |
| 8 | QCOM | Qualcomm Incorporated | 3.70% |
| 9 | AAPL | Apple Inc. | 3.47% |
| 10 | XOM | Exxon Mobil Corp | 3.45% |
Sector Weights
| Sector | ZWC | ZWH |
|---|---|---|
| Basic Materials | 11.63% | 1.71% |
| Communication Services | 6.41% | 5.49% |
| Consumer Cyclicals | 4.16% | 4.94% |
| Consumer Defensive | 1.50% | 9.05% |
| Energy | 21.36% | 8.35% |
| Financial Services | 41.35% | 12.62% |
| Healthcare | 0.00% | 13.37% |
| Industrials | 4.52% | 4.80% |
| Real Estate | 0.00% | 3.95% |
| Technology | 0.00% | 29.63% |
| Utilities | 9.07% | 6.08% |
About ZWC
NA
About ZWH
The BMO US High Dividend Covered Call ETF has been designed to provide exposure to a dividend focused portfolio, while earning call option premiums. The underlying portfolio is yield-weighted and broadly diversified across sectors. The Fund screens for securities for dividend growth, sustainability, and option liquidity. The Fund also dynamically writes covered call options. The call options are written out of the money and selected based on analyzing the option's implied volatility. The option …
Which ETF is Right for You?
Both ZWC and ZWH are listed on Canadian exchanges and accessible through most Canadian brokerages including Questrade, Wealthsimple Trade, TD Direct, and Interactive Brokers.
Based on the available data, ZWC scores higher across our tracked metrics including YTD performance, dividend yield, and AUM — though both ETFs warrant individual research before investing.
- Consider your account type (TFSA, RRSP, non-registered) as it can affect dividend taxation.
- Compare management expense ratios (MER) directly on each provider's website.
- Look at average daily trading volume to assess liquidity.
- Review the fund's underlying index and holdings to ensure the exposure matches your goals.
This is not financial advice. Always do your own research or consult a licensed financial advisor before investing.
Frequently Asked Questions
What is the difference between ZWC and ZWH?
ZWC (BMO Canadian High Dividend Covered Call) and ZWH (BMO US High Dividend Covered Call ETF) are both Canadian-listed ETFs. Key differences include their AUM ($2.45B vs $1.13B), dividend yield (5.73% vs 5.89%), and year-to-date performance (+9.90% vs +7.77%).
Is ZWC better than ZWH?
There is no single "better" ETF — it depends on your investment goals. If you prioritise recent performance, ZWC has outperformed year-to-date. Always review the fund's prospectus and consider your tax situation.
Can I buy ZWC and ZWH on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both ZWC and ZWH should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
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