Question 1

What is ZWA?

Accepted Answer

ZWA (BMO Covered Call Dow Jones Industrial Average Hedged to CAD ETF) is a Canadian-listed ETF trading on the TSX in the US Equity category. It tracks the Morningstar US Market TR CAD.

Question 2

What is the ZWA ETF price today?

Accepted Answer

ZWA last traded at $27.67 CAD on the TSX. See the price chart above for recent performance.

Question 3

What is the ZWA MER (management expense ratio)?

Accepted Answer

ZWA has a management expense ratio (MER) of 0.67% 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 ZWA annualised returns?

Accepted Answer

ZWA historical returns: YTD: -0.32%, 1-year: +7.58%, 3-year annualised: +14.37%, 5-year annualised: +6.90%, 10-year annualised: +9.51%. Past performance is not a guarantee of future results. The 3-year Sharpe ratio is 0.84, which measures risk-adjusted return.

Question 5

Does ZWA pay dividends or distributions?

Accepted Answer

Yes, ZWA distributes income to unitholders. The current distribution yield is approximately 6.03%, 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 ZWA invest in?

Accepted Answer

ZWA's top holdings include Goldman Sachs Group Inc (GS, 10.2%), Caterpillar Inc (CAT, 9.1%), Microsoft Corporation (MSFT, 5.9%), Amgen Inc (AMGN, 4.9%), UnitedHealth Group Incorporated (UNH, 4.4%) — and 5 more positions. See the full Top 10 Holdings table above for a complete breakdown. The fund tracks the Morningstar US Market TR CAD.

Question 7

What sectors does ZWA invest in?

Accepted Answer

ZWA's largest sector exposures are Financial Services (26.1%), Technology (19.4%), Industrials (15.9%). The full sector breakdown is shown in the Sector Weights table on this page.

Question 8

How large is ZWA? (Assets under management)

Accepted Answer

ZWA has approximately $214M 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 ZWA launched?

Accepted Answer

ZWA 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 ZWA in Canada?

Accepted Answer

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

Accepted Answer

ZWA has a 1-year volatility of 10.14% and a beta of 0.73 (less volatile than the broad market). Its 3-year Sharpe ratio of 0.84 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	$27.71	$27.71	$27.67	$27.67	$27.67	900
2026-10-28	$27.88	$28.03	$27.88	$27.95	$27.95	1,567
2026-10-27	$28.00	$28.00	$28.00	$28.00	$28.00	1,100
2026-10-26	$27.90	$27.90	$27.90	$27.90	$27.90	0
2026-10-23	$28.00	$28.00	$27.90	$27.90	$27.90	2,507
2026-10-22	$28.11	$28.20	$28.11	$28.12	$28.12	1,984
2026-10-21	$28.18	$28.18	$28.11	$28.11	$28.11	1,560
2026-10-20	$27.80	$28.01	$27.80	$28.01	$28.01	1,188
2026-10-19	$27.83	$27.83	$27.83	$27.83	$27.83	520
2026-10-16	$27.94	$27.94	$27.80	$27.80	$27.80	1,473

#	Ticker	Name	Weight
1	GS	Goldman Sachs Group Inc	10.20%
2	CAT	Caterpillar Inc	9.11%
3	MSFT	Microsoft Corporation	5.94%
4	AMGN	Amgen Inc	4.91%
5	UNH	UnitedHealth Group Incorporated	4.41%
6	V	Visa Inc. Class A	4.25%
7	TRV	The Travelers Companies Inc	4.00%
8	GOOGL	Alphabet Inc Class A	4.03%
9	AAPL	Apple Inc.	3.90%
10	JPM	JPMorgan Chase & Co	3.74%

Sector	Weight
Financial Services	26.11%
Technology	19.39%
Industrials	15.86%
Healthcare	14.14%
Consumer Cyclicals	9.32%
Communication Services	5.00%
Consumer Defensive	4.04%
Basic Materials	3.87%
Energy	2.30%
Utilities	0.00%
Real Estate	0.00%

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LLHE	Harvest Eli Lilly Enhanced High Income Shares ETF - Class A Units	$11.55	+6.06%
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BMO Covered Call Dow Jones Industrial Average Hedged to CAD ETF (ZWA : TSX)

Price Chart (30 Days)

Key Statistics

Recent Price History

Annualised Returns

Top 10 Holdings

Sector Weights

ETF Details

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