A side-by-side comparison of BMO Europe High Dividend Covered Call ETF (ZWP) and BMO Europe High Dividend Covered Call CAD Hedged (ZWE) to help Canadian investors make an informed decision.
CIBC Investor's Edge
Transfer your investments to CIBC Investor's Edge and get rewarded with an offer of up to $3,000.
- ✓$6.95 flat-rate commissions
- ✓Backed by Big Five bank security
- ✓Transfer bonus offer up to $3,000
1-Year Performance
Normalised to 100 at the start — shows relative return over the trailing 12 months.
Head-to-Head Comparison
| Metric | ZWP | ZWE |
|---|---|---|
| YTD Return | +0.88%✓ | +0.66% |
| 1-Day Change | +0.15% | +0.19%✓ |
| 1-Week Change | -0.87%✓ | -1.70% |
| 1-Month Change | +2.29%✓ | +1.18% |
| Current Price | $20.55 | $21.42 |
| AUM | $1.10B✓ | $762M |
| MER (Expense Ratio) | 0.65% | 0.65% |
| Dividend Yield | 6.28% | 6.83%✓ |
| Distribution Frequency | Monthly | Monthly |
| Inception Date | 2018-03-01 | 2015-09-02 |
| Holdings Count | 10 | 1 |
| MorningStar Rating | ★★★★ | ★★★ |
| Category | European Equity | European Equity |
| Beta | 0.79 | 0.64 |
| 52-Week High | $21.01 | $21.80 |
| 52-Week Low | $17.36 | $18.46 |
| 50-Day MA | $20.15 | $21.11 |
| 200-Day MA | $20.16 | $21.04 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | ZWP | ZWE |
|---|---|---|
| YTD | +0.88%✓ | +0.66% |
| 1 Year | +15.80%✓ | +13.04% |
| 3 Year | +14.16%✓ | +10.79% |
| 5 Year | +10.91%✓ | +9.39% |
| 10 Year | — | +8.39% |
| 1Y Volatility | 10.25% | 9.07% |
| Sharpe Ratio (3Y) | 1.12 | 0.81 |
Past performance is not a guarantee of future results.
Top 10 Holdings
| 1 | HSBA | HSBC Holdings PLC | 5.76% |
| 2 | RIO | Rio Tinto PLC | 5.76% |
| 3 | ROP | Roche Holding AG | 5.46% |
| 4 | TTE | TotalEnergies SE | 5.42% |
| 5 | SHEL | Shell plc | 4.58% |
| 6 | ISP | Intesa Sanpaolo SpA | 4.53% |
| 7 | SIE | Siemens Aktiengesellschaft | 4.37% |
| 8 | ENGI | Engie S.A. | 4.33% |
| 9 | ENEL | Enel SpA | 4.29% |
| 10 | NOVN | Novartis AG | 4.26% |
| 1 | ZWP | BMO Europe High Dividend Covered Call ETF | 99.95% |
Sector Weights
| Sector | ZWP | ZWE |
|---|---|---|
| Basic Materials | 7.02% | 8.48% |
| Communication Services | 6.41% | 5.58% |
| Consumer Cyclicals | 3.26% | 10.88% |
| Consumer Defensive | 8.33% | 8.34% |
| Energy | 9.81% | 10.11% |
| Financial Services | 24.22% | 23.05% |
| Healthcare | 12.48% | 10.71% |
| Industrials | 13.49% | 10.81% |
| Real Estate | 0.00% | 0.00% |
| Technology | 5.20% | 6.10% |
| Utilities | 9.78% | 5.94% |
About ZWP
NA
About ZWE
The BMO Europe High Dividend Covered Call Hedged to CAD 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 available pre…
Which ETF is Right for You?
Both ZWP and ZWE 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, ZWP 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 ZWP and ZWE?
ZWP (BMO Europe High Dividend Covered Call ETF) and ZWE (BMO Europe High Dividend Covered Call CAD Hedged) are both Canadian-listed ETFs. Key differences include their AUM ($1.10B vs $762M), dividend yield (6.28% vs 6.83%), and year-to-date performance (+0.88% vs +0.66%).
Is ZWP better than ZWE?
There is no single "better" ETF — it depends on your investment goals. If you prioritise recent performance, ZWP has outperformed year-to-date. Always review the fund's prospectus and consider your tax situation.
Can I buy ZWP and ZWE on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both ZWP and ZWE should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
7 stocks to buy and hold forever
Complement your ETF portfolio with these proven long-term individual stocks.
Get the FREE Report