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Overview

Fund Profile

Key Facts

Fund Ticker ZWK
Net Assets (Mn)
(Sep 18, 2019)
$ 18.38
Base Currency CAD
Closing Market Price $ 30.58
12-Month Low/High (Market Price) $ 27.30 / $ 31.54
Closing NAV Price
(Sep 18, 2019)
$ 30.6358
12-Month Low/High (Price (NAV)) $ 27.2783 / $ 31.4340
Annualized Distribution Yield
(Sep 13, 2019)

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

6.09%
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 3,225
Distribution Frequency Monthly
Options Available No
Inception Date Feb 15, 2019
Fiscal Year-End December 31
Units Outstanding (000's) 600
Index -
Market Cap ($Bn)
(Aug 30, 2019)
1,652.93
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)
(Sep 18, 2019)
$ 18.38
Market Price $ 30.58
12-Month Low/High (Market Price) $ 27.30 / $ 31.54
Price (NAV) $ 30.6358
12-Month Low/High (Price (NAV)) $ 27.2783 / $ 31.4340
Distribution Frequency Monthly

Daily Prices

Unit Price as of
(Sep 18, 2019)
1 Day Change 1 Day % Change
Market Price $ 30.58 $ 0.19 0.63%
Price (NAV) $ 30.6358 $ 0.2657 0.87%

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
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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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
Feb, 2019 Feb 26, 2019 Feb 27, 2019 Mar 04, 2019 0.130000 0.000000 0.130000
Mar, 2019 Mar 27, 2019 Mar 28, 2019 Apr 02, 2019 0.145000 0.000000 0.145000
Apr, 2019 Apr 26, 2019 Apr 29, 2019 May 02, 2019 0.145000 0.000000 0.145000
May, 2019 May 29, 2019 May 30, 2019 Jun 04, 2019 0.155000 0.000000 0.155000
Jun, 2019 Jun 26, 2019 Jun 27, 2019 Jul 03, 2019 0.155000 0.000000 0.155000
Jul, 2019 Jul 29, 2019 Jul 30, 2019 Aug 02, 2019 0.155000 0.000000 0.155000
Aug, 2019 Aug 28, 2019 Aug 29, 2019 Sep 04, 2019 0.155000 0.000000 0.155000
Sep, 2019 Sep 26, 2019 Sep 27, 2019 Oct 02, 2019 - - -
Oct, 2019 Oct 29, 2019 Oct 30, 2019 Nov 04, 2019 - - -
Nov, 2019 Nov 27, 2019 Nov 28, 2019 Dec 03, 2019 - - -
Dec, 2019 Dec 27, 2019 Dec 30, 2019 Jan 03, 2020 - - -
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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 Sep 18, 2019

Stock

101.17%

Cash and Cash Equivalents

-1.17%

Number of Holdings

31

Total Net Assets

$ 18,381,535.00


Download Holdings (Excel)
No column selected.
Weight (%) Name ISIN Bloomberg Ticker Number of Shares Currency Base Market Value Sector Asset Class
7.55% JPMORGAN CHASE & CO US46625H1005 JPM 8,718 USD 1,387,148 Financials Stock
7.45% AMERIPRISE FINANCIAL INC US03076C1062 AMP 6,990 USD 1,370,191 Financials Stock
7.42% PNC FINANCIAL SERVICES GROUP INC/THE US6934751057 PNC 7,271 USD 1,364,027 Financials Stock
7.23% CITIGROUP INC US1729674242 C 14,279 USD 1,329,683 Financials Stock
7.07% US BANCORP US9029733048 USB 17,504 USD 1,300,233 Financials Stock
6.86% KEYCORP US4932671088 KEY 52,103 USD 1,260,570 Financials Stock
6.84% REGIONS FINANCIAL CORP US7591EP1005 RF 57,859 USD 1,256,848 Financials Stock
6.80% HUNTINGTON BANCSHARES INC/OH US4461501045 HBAN 64,506 USD 1,250,402 Financials Stock
6.79% BANK OF AMERICA CORP US0605051046 BAC 31,334 USD 1,248,911 Financials Stock
6.78% FIFTH THIRD BANCORP US3167731005 FITB 33,176 USD 1,246,956 Financials Stock
6.77% BB&T CORP US0549371070 BBT 17,646 USD 1,245,136 Financials Stock
6.49% WELLS FARGO & CO US9497461015 WFC 18,353 USD 1,193,099 Financials Stock
6.08% M&T BANK CORP US55261F1049 MTB 5,280 USD 1,118,473 Financials Stock
5.87% ZIONS BANCORP NA US9897011071 ZION 18,001 USD 1,078,139 Financials Stock
5.15% COMERICA INC US2003401070 CMA 10,644 USD 946,357 Financials Stock
0.00% AMERIPRISE FINANCIAL INC 20Sep2019 160 CALL - AMP 9 C -32 USD -340 - Cash and Cash Equivalents
0.00% WELLS FARGO & CO 20Sep2019 50 CALL - WFC 9 C -85 USD -452 - Cash and Cash Equivalents
-0.05% FIFTH THIRD BANCORP 20Sep2019 28 CALL - FITB 9 -152 USD -8,280 - Cash and Cash Equivalents
-0.07% COMERICA INC 20Sep2019 65 CALL - CMA 9 C -49 USD -13,769 - Cash and Cash Equivalents
-0.07% M&T BANK CORP 20Sep2019 155 CALL - MTB 9 C -24 USD -12,659 - Cash and Cash Equivalents
-0.07% CITIGROUP INC 20Sep2019 69 CALL - C 9 C69 -65 USD -12,522 - Cash and Cash Equivalents
-0.08% US BANCORP 13Sep2019 54.5 CALL - USB 9 C -80 USD -14,987 - Cash and Cash Equivalents
-0.11% BANK OF AMERICA CORP 04Oct2019 29.5 CALL - BAC 10 -144 USD -19,323 - Cash and Cash Equivalents
-0.13% PNC FINANCIAL SERVICES GROUP I 20Sep2019 135 CALL - PNC 9 C -33 USD -24,333 - Cash and Cash Equivalents
-0.14% ZIONS BANCORP NA 20Sep2019 43 CALL - ZION 9 -83 USD -26,466 - Cash and Cash Equivalents
-0.14% JPMORGAN CHASE & CO 27Sep2019 115 CALL - JPM 9 C -40 USD -24,978 - Cash and Cash Equivalents
-0.15% KEYCORP 27Sep2019 17.5 CALL - KEY 9 C -240 USD -27,103 - Cash and Cash Equivalents
-0.19% HUNTINGTON BANCSHARES INC/OH 18Oct2019 14 CALL - HBAN 10 -300 USD -34,676 - Cash and Cash Equivalents
-0.20% BB&T CORP 20Sep2019 49 CALL - BBT 9 C -81 USD -36,267 - Cash and Cash Equivalents
-0.23% REGIONS FINANCIAL CORP 20Sep2019 15 CALL - RF 9 C1 -262 USD -42,467 - Cash and Cash Equivalents
0.46% CASH - - 1 CAD 83,981 - Cash and Cash Equivalents

Holdings Breakdown

Sector Allocation

Geographic Allocation

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