BMO Global High Dividend Covered Call ETF (ZWG.TO)

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The chart shows the growth of an initial investment of CA$10,000 in BMO Global High Dividend Covered Call 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 Global High Dividend Covered Call ETF (ZWG.TO) has returned 2.31% so far this year and 8.49% over the past 12 months.

Based on dividend-adjusted daily data since Jan 21, 2020, ZWG.TO's average daily return is +0.09%, while the average monthly return is +1.90%. At this rate, your investment would double in approximately 3.1 years.

Historically, 71% of months were positive and 29% were negative. The best month was Jan 2020 with a return of +86.3%, while the worst month was Feb 2020 at -8.5%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 2 months.

On a daily basis, ZWG.TO closed higher 51% of trading days. The best single day was Jan 22, 2020 with a return of +89.1%, while the worst single day was Mar 23, 2020 at -6.8%.

BMO Global High Dividend Covered Call ETF has an annualized alpha of 17.64%, beta of 0.55, and R² of 0.07 versus S&P 500 Index. Calculated based on daily prices since January 22, 2020.

• This ETF captured 59.52% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -7.25%) — a profile typical of hedging or uncorrelated assets.
• Beta of 0.55 may look defensive, but with R² of 0.07 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 0.07 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.

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

ZWG.TO ranks 29 for risk / return — below 29% 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 Global High Dividend Covered Call ETF (ZWG.TO) and compare them to a chosen benchmark (S&P 500 Index).

BMO Global High Dividend Covered Call ETF provided a 6.32% dividend yield over the last twelve months, with an annual payout of CA$2.13 per share.

The table displays the monthly dividend distributions for BMO Global High Dividend Covered Call 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 Global High Dividend Covered Call 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 Global High Dividend Covered Call ETF was 25.55%, occurring on Mar 23, 2020. Recovery took 198 trading sessions.

The current BMO Global High Dividend Covered Call ETF drawdown is 3.30%.

The chart below shows the rolling one-month volatility.