ZWB
BMO Covered Call Canadian Banks ETF

Full ZWB fund page
VS
ZWU
BMO Covered Call Utilities ETF

Full ZWU fund page

Compare BMO Covered Call Canadian Banks ETF (ZWB) vs BMO Covered Call Utilities ETF (ZWU) to find the best fit for your portfolio. ZWB provides Finance exposures, while ZWU is primarily weighted in Utilities, Energy, and Telecommunications. When evaluating costs, ZWB features a management fee (MER) of 0.65%, compared to 0.65% for ZWU. Performance-wise, ZWB has returned 28.23% year-to-date with +$53 M in net flows, whereas ZWU is at 13.8% with +$128 M. Use the comparison tool below to benchmark these funds across top 10 holdings, yield, sector weights and historical returns.

NAV Performance and Flows

-2.00.02.04.06.0%Jun 24Jul 2Jul 9Jul 16Jul 23

Key Data

Historical performance and flows

As of July 24, 2026
1M3MYTD1Y3Y
Perf.
ZWB
+1.91%+15.99%+28.23%+56.28%+109.47%
ZWU
+1.31%+4.31%+13.80%+16.55%+40.34%
Flows
ZWB
+$47 M+$43 M+$53 M+$40 M-$206 M
ZWU
+$33 M+$94 M+$128 M+$254 M+$276 M

ZWB vs ZWU exposure

Countries

ZWB
Canada
100.22%
ZWU
Canada
56.93%
USA
40.53%

Sectors

ZWB
Finance
100.22%
ZWU
Utilities
50.22%
Energy
27.21%
Telecommunications
20.46%
As of July 24, 2026

Top 10 Holdings

ZWB
Bank of Montreal
17.32%
The Toronto-Dominion Bank
17.30%
Royal Bank of Canada
17.03%
The Bank of Nova Scotia
16.71%
National Bank of Canada
15.99%
Canadian Imperial Bank of Commerce
15.86%
ZWU
Fortis, Inc.
5.68%
Hydro One Ltd.
5.58%
TC Energy Corp.
5.39%
Enbridge, Inc.
5.24%
The Williams Cos., Inc.
4.76%
Pembina Pipeline Corp.
4.73%
Verizon Communications, Inc.
4.62%
Emera, Inc.
4.61%
The Southern Co.
4.13%
BCE, Inc.
4.07%

Diversification

ZWB
Total weight of top 10 holdings out of 6 total
100.22%
ZWU
Total weight of top 10 holdings out of 30 total
48.81%

Characteristics

Compare
ZWB
ZWU
ProviderBMOBMO
ManagementActively managedActively managed
Benchmark--
Replication Method
Asset ClassEquityEquity
Dividend PolicyDistributingDistributing
Trailing 12m distribution yield4.70%6.91%
Meets ESG criteriaNoNo
Inception DateJanuary 28, 2011October 27, 2011

Frequently asked questions about ZWB and ZWU

Which ETF has performed better year to date: ZWB or ZWU?
As of July 24, 2026, ZWB has returned 28.23% year to date, while ZWU has returned 13.80%. ZWB is ahead on YTD performance.
Which ETF is larger by assets under management: ZWB or ZWU?
As of July 24, 2026, ZWB manages $4.79 B in assets, while ZWU manages $2.28 B. ZWB is the larger fund by AUM.
How are ZWB and ZWU managed?
ZWB is actively managed by BMO. It does not track an index. ZWU is actively managed by BMO. It does not track an index.
What sectors do ZWB and ZWU emphasize?
ZWB is most exposed to Finance. ZWU is most exposed to Utilities, Energy, and Telecommunications.
Which ETF is attracting more investor flows: ZWB or ZWU?
Year to date, ZWB has seen +$53.30 M in net flows, compared with +$128.00 M for ZWU. ZWU has attracted more net investor money so far.
How do the fees of ZWB and ZWU compare?
ZWB has an expense ratio of 0.72%, while ZWU has an expense ratio of 0.71%.
What are the top holdings of ZWB and ZWU?
ZWB's largest holdings include Bank of Montreal, The Toronto-Dominion Bank, and Royal Bank of Canada. ZWU's top holdings include Fortis, Inc., Hydro One Ltd., and TC Energy Corp..
Which ETF is more diversified: ZWB or ZWU?
ZWB holds 6 securities, while ZWU holds 30. On holdings count, ZWU is the more diversified portfolio.

Recent articles about ZWB and ZWU

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