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Overview

Fund Profile

Key Facts

Fund Ticker ZWK
Net Assets (Mn)
(Feb 25, 2020)
$ 20.33
Base Currency CAD
Closing Market Price $ 29.08
12-Month Low/High (Market Price) $ 27.30 / $ 33.11
Closing NAV Price
(Feb 25, 2020)
$ 29.0490
12-Month Low/High (Price (NAV)) $ 27.2783 / $ 33.0180
Annualized Distribution Yield
(Feb 21, 2020)

Annualized Distribution Yield: The most recent regular distribution, or expected distribution, (excluding additional year end distributions) annualized for frequency, divided by current NAV.

5.93%
Swap Fee -
Counterparty Exposure  -
Maximum Annual Management Fee 0.65%
Management Expense Ratio 0.73%

Estimate only. Audited MER is unavailable since the ETF has not yet completed a financial year.

Market Volume 29,949
Distribution Frequency Monthly
Options Available No
Inception Date Feb 15, 2019
Fiscal Year-End December 31
Units Outstanding (000's) 700
Index -
Market Cap ($Bn)
(Jan 31, 2020)
1,931.54
Exchange Toronto Stock Exchange
CUSIP 05586H103
Eligibility RRSP/RRIF/RESP/DPSP/TFSA

Portfolio Strategy

BMO Covered Call U.S. Banks ETF has been designed to provide exposure to a portfolio of U.S. banks while earning call option premiums. The Fund invests in securities of U.S. banks in addition to writing covered call options. The call options are written out of the money and selected based on analyzing the option's implied volatility. The option premium provides some downside protection. The underlying portfolio is re-balanced and reconstituted semi-annually in June and December, and options are rolled forward upon expiry.

Fund Benefits

  • Designed for investors looking for higher income from equity portfolios
  • Invested in a diversified portfolio of U.S. banks
  • Call option writing reduces volatility
  • Professionally managed by BMO Global Asset Management

Risk Rating

  • Low
  • Low to Medium
  • Medium
  • Medium to High
  • High

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Price & Performance

Performance Chart

Growth of 10,000

Performance Details

Fund Total Assets ($Mn)
(Feb 25, 2020)
$ 20.33
Market Price $ 29.08
12-Month Low/High (Market Price) $ 27.30 / $ 33.11
Price (NAV) $ 29.0490
12-Month Low/High (Price (NAV)) $ 27.2783 / $ 33.0180
Distribution Frequency Monthly

Daily Prices

Unit Price as of
(Feb 25, 2020)
1 Day Change 1 Day % Change
Market Price $ 29.08 $ -1.38 -4.53%
Price (NAV) $ 29.0490 $ -1.3788 -4.53%

Performance

Annualized Performance

Annualized Performance (%) for period ending: -

1 Year 2 Year 3 Year 5 Year 10 Year Since Inception
NAV - - - - - -
Index - - - - - -
Calendar Performance

Calendar Year Performance (%) for period ending: -

YTD 2019
NAV - -
Index - -
Cumulative Performance

Cumulative Performance (%) for period ending: -

YTD 1 mo 3 Mo 6 Mo 1 Year 2 Year 3 Year 5 Year 10 Year Since Inception
NAV - - - - - - - - - -
Index - - - - - - - - - -

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Past performance data for ETFs with less than one year of history may not be disclosed for any period until the fund has exceeded one year of history.

Tax & Distributions

Distribution History

Each BMO ETF will distribute net taxable income to investors at least once a year. A BMO ETF will have taxable income if the income generated (for example interest, dividend, capital gains, etc.) by the securities within the BMO ETF is greater than the expenses of the BMO ETF. The distributions will either be paid in cash or reinvested in the BMO ETF at the discretion of the manager. The future distribution dates for BMO ETFs may change at any time and whether or not a distribution occurs will depend on the tax characteristics of the underlying investments.

BMO CMS

The following table lists historical distributions and includes information about the frequency dollar value and tax composition of the distribution. The tax composition of the BMO ETF distribution will be determined on a yearly basis and will only be available after the BMO ETFs tax year. This information will be reported in an official tax receipt provided to investors by their broker.

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Distribution Period

Future distribution dates may change without any prior notice.

Ex-Dividend Date Record Date Pay Date Cash Distribution Per Unit Reinvested Distribution Per Unit

Distributions by the BMO ETF that are not paid in cash should be accounted for by investors for tax purposes by adding the distribution amount to the adjusted cost base of the units held.

Total Distribution Per Unit
Jan, 2020 Jan 29, 2020 Jan 30, 2020 Feb 04, 2020 0.180000 0.000000 0.180000
Feb, 2020 Feb 26, 2020 Feb 27, 2020 Mar 03, 2020 0.160000 0.000000 0.160000
Mar, 2020 Mar 27, 2020 Mar 30, 2020 Apr 02, 2020 - - -
Apr, 2020 Apr 28, 2020 Apr 29, 2020 May 04, 2020 - - -
May, 2020 May 27, 2020 May 28, 2020 Jun 02, 2020 - - -
Jun, 2020 Jun 26, 2020 Jun 29, 2020 Jul 06, 2020 - - -
Jul, 2020 Jul 29, 2020 Jul 30, 2020 Aug 05, 2020 - - -
Aug, 2020 Aug 27, 2020 Aug 28, 2020 Sep 02, 2020 - - -
Sep, 2020 Sep 28, 2020 Sep 29, 2020 Oct 02, 2020 - - -
Oct, 2020 Oct 28, 2020 Oct 29, 2020 Nov 03, 2020 - - -
Nov, 2020 Nov 26, 2020 Nov 30, 2020 Dec 02, 2020 - - -
Dec, 2020 Dec 29, 2020 Dec 30, 2020 Jan 05, 2021 - - -
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Distribution Period Eligible Dividends Non Eligible Dividends Other Income Capital Gains Return of Capital Foreign Income Foreign Tax Paid Total Distribution per Unit for Tax Purpose

The exact tax treatment of the distributions for a calendar year is calculated after the BMO ETF's tax year-end. As a result investors will receive an official tax statement from their broker detailing the type of income they have to report for tax purposes for the entire year and not for each distribution.

- - - - - - - - -

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Holdings & Allocations

Daily Holdings

As of Feb 25, 2020

Stock

99.79%

Cash and Cash Equivalents

0.21%

Number of Holdings

43

Total Net Assets

$ 20,334,343.00


Download Holdings (Excel)
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Weight (%) Name ISIN Bloomberg Ticker Number of Shares Currency Base Market Value Sector Asset Class
7.14% AMERIPRISE FINANCIAL INC US03076C1062 AMP 6,988 USD 1,451,298 Financials Stock
7.08% JPMORGAN CHASE & CO US46625H1005 JPM 8,573 USD 1,438,924 Financials Stock
6.91% KEYCORP US4932671088 KEY 58,617 USD 1,405,722 Financials Stock
6.91% M&T BANK CORP US55261F1049 MTB 6,778 USD 1,405,162 Financials Stock
6.82% TRUIST FINANCIAL CORP US89832Q1094 TFC 20,319 USD 1,385,938 Financials Stock
6.81% PNC FINANCIAL SERVICES GROUP INC/THE US6934751057 PNC 7,374 USD 1,385,503 Financials Stock
6.79% FIFTH THIRD BANCORP US3167731005 FITB 38,379 USD 1,381,088 Financials Stock
6.77% CITIGROUP INC US1729674242 C 14,920 USD 1,377,068 Financials Stock
6.74% BANK OF AMERICA CORP US0605051046 BAC 33,173 USD 1,370,582 Financials Stock
6.63% REGIONS FINANCIAL CORP US7591EP1005 RF 68,529 USD 1,347,355 Financials Stock
6.37% US BANCORP US9029733048 USB 19,220 USD 1,295,901 Financials Stock
6.34% ZIONS BANCORP NA US9897011071 ZION 22,891 USD 1,289,630 Financials Stock
6.23% WELLS FARGO & CO US9497461015 WFC 21,120 USD 1,266,783 Financials Stock
6.22% HUNTINGTON BANCSHARES INC/OH US4461501045 HBAN 74,137 USD 1,264,448 Financials Stock
6.04% COMERICA INC US2003401070 CMA 16,256 USD 1,227,227 Financials Stock
0.00% HUNTINGTON BANCSHARES INC/OH 21Feb2020 16 CALL - HBAN 2 C16 -350 USD -931 - Cash and Cash Equivalents
0.00% AMERIPRISE FINANCIAL INC 21Feb2020 180 CALL - AMP 2 C180 -33 USD -439 - Cash and Cash Equivalents
0.00% COMERICA INC 21Feb2020 72.5 CALL - CMA 2 C72.5 -77 USD -307 - Cash and Cash Equivalents
0.00% FIFTH THIRD BANCORP 21Feb2020 31 CALL - FITB 2 C31 -181 USD -241 - Cash and Cash Equivalents
0.00% M&T BANK CORP 21Feb2020 175 CALL - MTB 2 C175 -32 USD -553 - Cash and Cash Equivalents
0.00% PNC FINANCIAL SERVICES GROUP I 28Feb2020 160 CALL - PNC 2 C160 -35 USD -140 - Cash and Cash Equivalents
0.00% REGIONS FINANCIAL CORP 21Feb2020 17 CALL - RF 2 C17 -323 USD -429 - Cash and Cash Equivalents
0.00% ZIONS BANCORP NA 21Feb2020 52.5 CALL - ZION 2 C52.5 -108 USD -144 - Cash and Cash Equivalents
0.00% BANK OF AMERICA CORP 06Mar2020 36 CALL - BAC 3 C36 -136 USD -362 - Cash and Cash Equivalents
0.00% JPMORGAN CHASE & CO 06Mar2020 142 CALL - JPM 3 C142 -40 USD -425 - Cash and Cash Equivalents
0.00% US BANCORP 06Mar2020 56.5 CALL - USB 3 C56.5 -91 USD -484 - Cash and Cash Equivalents
0.00% BANK OF AMERICA CORP 13Mar2020 36 CALL - BAC 3 C36 -46 USD -61 - Cash and Cash Equivalents
0.00% CITIGROUP INC 13Mar2020 81.5 CALL - C 3 C81.5 -82 USD -436 - Cash and Cash Equivalents
0.00% COMERICA INC 20Mar2020 67.5 CALL - CMA 3 C67.5 -12 USD -96 - Cash and Cash Equivalents
0.00% JPMORGAN CHASE & CO 13Mar2020 141 CALL - JPM 3 C141 -7 USD -130 - Cash and Cash Equivalents
0.00% PNC FINANCIAL SERVICES GROUP I 13Mar2020 160 CALL - PNC 3 C160 -6 USD -52 - Cash and Cash Equivalents
0.00% TRUIST FINANCIAL CORP 20Mar2020 57.5 CALL - TFC 3 C57.5 -112 USD -744 - Cash and Cash Equivalents
0.00% US BANCORP 13Mar2020 57 CALL - USB 3 C57 -15 USD -100 - Cash and Cash Equivalents
0.00% WELLS FARGO & CO 13Mar2020 50 CALL - WFC 3 C50 -116 USD -771 - Cash and Cash Equivalents
0.00% ZIONS BANCORP NA 20Mar2020 49 CALL - ZION 3 C49 -18 USD -96 - Cash and Cash Equivalents
0.00% ZIONS BANCORP NA 20Mar2020 48 CALL - ZION 3 C48 -108 USD -1,005 - Cash and Cash Equivalents
-0.01% AMERIPRISE FINANCIAL INC 20Mar2020 185 CALL - AMP 3 C185 -38 USD -1,162 - Cash and Cash Equivalents
-0.01% FIFTH THIRD BANCORP 20Mar2020 31 CALL - FITB 3 C31 -211 USD -1,963 - Cash and Cash Equivalents
-0.01% KEYCORP 13Mar2020 20.5 CALL - KEY 3 C20.5 -322 USD -1,712 - Cash and Cash Equivalents
-0.01% M&T BANK CORP 20Mar2020 175 CALL - MTB 3 C175 -37 USD -1,230 - Cash and Cash Equivalents
-0.01% REGIONS FINANCIAL CORP 20Mar2020 17 CALL - RF 3 C17 -377 USD -1,503 - Cash and Cash Equivalents
-0.01% COMERICA INC 20Mar2020 65 CALL - CMA 3 C65 -77 USD -1,535 - Cash and Cash Equivalents
0.29% CASH - - 1 CAD 58,762 - Cash and Cash Equivalents

Holdings Breakdown

Sector Allocation

Geographic Allocation

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