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 ($Bn) (Jan 31, 2020) |
1,931.54 |
| Exchange | Toronto Stock Exchange |
| CUSIP | 05586H103 |
| Eligibility | RRSP/RRIF/RESP/DPSP/TFSA |
Portfolio Strategy
BMO Covered Call U.S. Banks ETF has been designed to provide exposure to a portfolio of U.S. banks while earning call option premiums. The Fund invests in securities of U.S. banks in addition to writing covered call options. The call options are written out of the money and selected based on analyzing the option's implied volatility. The option premium provides some downside protection. The underlying portfolio is re-balanced and reconstituted semi-annually in June and December, and options are rolled forward upon expiry.
Fund Benefits
- Designed for investors looking for higher income from equity portfolios
- Invested in a diversified portfolio of U.S. banks
- Call option writing reduces volatility
- Professionally managed by BMO Global Asset Management
Risk Rating
- Low
- Low to Medium
- Medium
- Medium to High
- High
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Performance Chart
Performance Details
| Fund Total Assets ($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 (%) for period ending: -
| 1 Year | 2 Year | 3 Year | 5 Year | 10 Year | Since Inception | |
|---|---|---|---|---|---|---|
| NAV | - | - | - | - | - | - |
| Index | - | - | - | - | - | - |
| - |
Calendar Year Performance (%) for period ending: -
| YTD | 2019 | |
|---|---|---|
| NAV | - | - |
| Index | - | - |
| - |
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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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.
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.
| 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 | - | - | - |
| Year to Date | 0.340000 | 0.000000 | 0.340000 |
| 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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Daily Holdings
As of Feb 25, 2020
99.79%
0.21%
43
$ 20,334,343.00
Download Holdings (Excel)
| 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 |
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.