BMO Covered Call Energy ETF (ZWEN.TO)

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The chart shows the growth of an initial investment of CA$10,000 in BMO Covered Call Energy 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 Covered Call Energy ETF (ZWEN.TO) has returned 31.77% so far this year and 29.50% over the past 12 months.

Based on dividend-adjusted daily data since Jan 26, 2023, ZWEN.TO's average daily return is +0.06%, while the average monthly return is +1.31%. At this rate, your investment would double in approximately 4.4 years.

Historically, 62% of months were positive and 38% were negative. The best month was Mar 2026 with a return of +12.2%, while the worst month was Apr 2025 at -14.3%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 3 months.

On a daily basis, ZWEN.TO closed higher 55% of trading days. The best single day was Apr 9, 2025 with a return of +6.2%, while the worst single day was Apr 3, 2025 at -7.5%.

BMO Covered Call Energy ETF has an annualized alpha of 8.94%, beta of 0.45, and R² of 0.13 versus S&P 500 Index. Calculated based on daily prices since January 27, 2023.

• This ETF captured 36.50% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -60.77%) — a profile typical of hedging or uncorrelated assets.
• Beta of 0.45 may look defensive, but with R² of 0.13 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 0.13 means this ETF moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

ZWEN.TO has an expense ratio of 0.88%, placing it in the medium range.

ZWEN.TO ranks 66 for risk / return — better than 66% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.

The table below present risk-adjusted performance metrics for BMO Covered Call Energy ETF (ZWEN.TO) and compare them to a chosen benchmark (S&P 500 Index).

BMO Covered Call Energy ETF provided a 7.38% dividend yield over the last twelve months, with an annual payout of CA$2.64 per share. The fund has been increasing its distributions for 2 consecutive years.

The table displays the monthly dividend distributions for BMO Covered Call Energy 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 Covered Call Energy 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 Covered Call Energy ETF was 18.75%, occurring on Apr 10, 2025. Recovery took 115 trading sessions.

The current BMO Covered Call Energy ETF drawdown is 1.02%.

The chart below shows the rolling one-month volatility.