BMO Europe High Dividend Covered Call Hedged to CAD ETF (ZWE.TO)

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

The chart shows the growth of an initial investment of CA$10,000 in BMO Europe High Dividend Covered Call Hedged to CAD ETF, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

BMO Europe High Dividend Covered Call Hedged to CAD ETF (ZWE.TO) has returned -0.59% so far this year and 7.56% over the past 12 months. Over the last ten years, ZWE.TO has returned 8.24% per year, falling short of the S&P 500 Index benchmark, which averaged 12.91% annually.

Based on dividend-adjusted daily data since Sep 11, 2015, ZWE.TO's average daily return is +0.03%, while the average monthly return is +0.66%. At this rate, your investment would double in approximately 8.8 years.

Historically, 61% of months were positive and 39% were negative. The best month was Nov 2020 with a return of +13.4%, while the worst month was Mar 2020 at -19.8%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 5 months.

On a daily basis, ZWE.TO closed higher 52% of trading days. The best single day was Mar 24, 2020 with a return of +8.0%, while the worst single day was Mar 12, 2020 at -11.4%.

BMO Europe High Dividend Covered Call Hedged to CAD ETF has an annualized alpha of 0.53%, beta of 0.63, and R² of 0.42 versus S&P 500 Index. Calculated based on daily prices since September 14, 2015.

• This ETF participated in 65.16% of S&P 500 Index downside but only 57.86% of its upside — more exposed to losses than it benefited from rallies.
• Beta of 0.63 may look defensive, but with R² of 0.42 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 0.42 means the benchmark explains less than half of this ETF's behavior — treat beta with caution or consider switching to a more representative benchmark.

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

ZWE.TO ranks 26 for risk / return — below 26% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.

The table below present risk-adjusted performance metrics for BMO Europe High Dividend Covered Call Hedged to CAD ETF (ZWE.TO) and compare them to a chosen benchmark (S&P 500 Index).

BMO Europe High Dividend Covered Call Hedged to CAD ETF provided a 6.97% dividend yield over the last twelve months, with an annual payout of CA$1.44 per share. The fund has been increasing its distributions for 4 consecutive years.

The table displays the monthly dividend distributions for BMO Europe High Dividend Covered Call Hedged to CAD 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 Europe High Dividend Covered Call Hedged to CAD 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 Europe High Dividend Covered Call Hedged to CAD ETF was 35.38%, occurring on Mar 18, 2020. Recovery took 292 trading sessions.

The current BMO Europe High Dividend Covered Call Hedged to CAD ETF drawdown is 6.20%.

The chart below shows the rolling one-month volatility.