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 $11.21 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: +1.08%, 1-year: +8.15%, 3-year annualised: +11.85%, 5-year annualised: +5.10%, 10-year annualised: +5.34%. Past performance is not a guarantee of future results. The 3-year Sharpe ratio is 0.82, 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 7.39%, 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 BMO Equal Weight Utilities Index ETF (ZUT, 5.3%), TC Energy Corp (TRP, 5.2%), Hydro One Ltd (H, 5.2%), Fortis Inc (FTS, 5.2%), Enbridge Inc (ENB, 5.1%) — 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 (52.4%), Energy (26.5%), Communication Services (21.1%). 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 $2.19B 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 9.30% and a beta of 0.23 (less volatile than the broad market). Its 3-year Sharpe ratio of 0.82 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
2026-09-10	$11.36	$11.36	$11.21	$11.21	$11.21	296,622
2026-09-09	$11.45	$11.46	$11.33	$11.36	$11.36	197,026
2026-09-08	$11.35	$11.45	$11.34	$11.43	$11.43	133,879
2026-09-04	$11.38	$11.39	$11.33	$11.34	$11.34	120,900
2026-09-03	$11.39	$11.39	$11.32	$11.36	$11.36	156,494
2026-09-02	$11.38	$11.39	$11.30	$11.32	$11.32	215,274
2026-09-01	$11.36	$11.45	$11.32	$11.36	$11.36	237,571
2026-08-31	$11.30	$11.37	$11.28	$11.37	$11.37	178,258
2026-08-28	$11.41	$11.41	$11.31	$11.34	$11.34	302,871
2026-08-27	$11.48	$11.48	$11.38	$11.44	$11.44	327,584

#	Ticker	Name	Weight
1	ZUT	BMO Equal Weight Utilities Index ETF	5.26%
2	TRP	TC Energy Corp	5.24%
3	H	Hydro One Ltd	5.17%
4	FTS	Fortis Inc	5.16%
5	ENB	Enbridge Inc	5.10%
6	PPL	Pembina Pipeline Corp	4.90%
7	VZ	Verizon Communications Inc	4.86%
8	WMB	Williams Companies Inc	4.48%
9	T	AT&T Inc.	4.27%
10	EMA	Emera Inc.	4.18%

Sector	Weight
Utilities	52.40%
Energy	26.46%
Communication Services	21.14%
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%

Ticker	Name	Price	1D
OILU		$65.56	+11.27%
HOU	BetaPro Crude Oil Daily Bull ETF	$29.03	+11.14%
SLVD	BetaPro Silver -2x Daily Bear ETF	$31.94	+10.98%
CGMD		$5.11	+10.61%
SOXD		$15.41	+7.69%
AAPU		$43.36	+7.33%
MSTZ		$3.24	+7.28%
GASD		$5.46	+6.64%

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