BMO US Put Write ETF (ZPW.TO)

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BMO US Put Write ETF (ZPW.TO) is up 4.3% since the beginning of the year. ZPW.TO is currently trading at CA$16 per share. Investors who bought CA$1,000 worth of ZPW.TO shares 5 years ago would now be looking at an investment worth CA$1,554.

BMO US Put Write ETF (ZPW.TO) has returned 4.29% so far this year and 12.08% over the past 12 months. Over the last ten years, ZPW.TO has returned 6.04% per year, falling short of the S&P 500 Index benchmark, which averaged 14.61% annually.

Based on dividend-adjusted daily data since Sep 9, 2015, ZPW.TO's average daily return is +0.02%, while the average monthly return is +0.48%. At this rate, an investment would double in approximately 12.1 years.

Historically, 62% of months were positive and 38% were negative. The best month was May 2016 with a return of +5.8%, while the worst month was Mar 2020 at -5.4%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 4 months.

On a daily basis, ZPW.TO closed higher 49% of trading days. The best single day was Mar 17, 2020 with a return of +7.3%, while the worst single day was Mar 16, 2020 at -10.1%.

BMO US Put Write ETF has an annualized alpha of 1.16%, beta of 0.34, and R2 of 0.31 versus S&P 500 Index. Calculated based on daily prices since September 09, 2015.

• This ETF participated in 43.27% of S&P 500 Index downside but only 36.03% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.34 may look defensive, but with R2 of 0.31 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
• R2 of 0.31 means the benchmark explains less than half of this ETF's behavior - treat beta with caution or consider switching to a more representative benchmark.

ZPW.TO has an expense ratio of 0.65%, placing it in the medium range.

ZPW.TO ranks 53 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.

BMO US Put Write ETF provided a 9.62% dividend yield over the last twelve months, with an annual payout of CA$1.50 per share. The fund has been increasing its distributions for 7 consecutive years.

The table displays the monthly dividend distributions for BMO US Put Write ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the BMO US Put Write ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the BMO US Put Write ETF was 23.77%, occurring on Mar 16, 2020. Recovery took 315 trading sessions.

The current BMO US Put Write ETF drawdown is 0.53%.

The chart below shows the rolling one-month volatility.