Market dataIncome framework read
Covered-Call / Enhanced-IncomeTSXCanada

ZWC.TO

BMO Canadian High Dividend Covered Call ETF

Multi-Sector (ETF / Fund)Covered-call structureMonthly

Market Snapshot

$22.56

+$0.06 (26.67%)

Toronto

Yield

N/A

Rate $1.26

Next Payment

Next pay N/A

Ex-date N/A

52wk Position

96.07%

-0.75% below high

Updated just now

Income Intelligence Summary

Deterministic interpretation from Prospyr's income framework and available market data.

Framework readout
1

Income reliability

Derived from payout history

Monthly income profile is visible

ZWC.TO has an income profile aligned with its covered-call / enhanced-income role. Provider data shows 12 recent payout records.

2

DRIP defense

Editorial framework

Default DRIP test is not defended

ZWC.TO does not cover one full share per payment at the default 100-share test. Coverage is 0.53.

3

Main watch item

Editorial framework

Distribution composition can drive tax friction

ZWC.TO sits in the covered-call or enhanced-income bucket. Review how much of the distribution comes from option income, return of capital, dividends, or other sources.

Decision Area

Distribution and DRIP Defense

Payout history, default DRIP coverage, and price creep pressure using market data where available.

Distribution Chart

Last 12 payments

Confirmed Expected

Coverage Ratio Test

DRIP defense check

Failed
Cash
$12.00
APR
0.532
Coverage
0.532

Rung failed. Restore immediately or rebalance the holding.

Price Creep

Defended price ceiling

Max defended
$12.00
Cushion
-$10.56
Cushion %
-46.81%
Current $22.56Break $12.00

Smart Recommendation

ZWC.TO is not defended at these inputs; top up shares, lower TPR, or test alternatives.

Research Signals

Payout sustainability

Moderate

1mo ago

DRIP availability

Plan-only

1mo ago

Tax character

Mixed

1mo ago

Distribution history

5–10 yr track

1mo ago

Structure complexity

Complex

1mo ago

Income trend

Stable

1mo ago

Account suitability

Non-reg: caution

1mo ago

Structure Overview

BMO Canadian High Dividend Covered Call ETF (ZWC) holds a portfolio of high-yielding Canadian equities and writes covered calls to generate additional premium income. ZWC offers broader sector coverage than ZWB (which is bank-only), including energy and telecom alongside financials. The covered-call overlay caps upside in strong rallies.

Canadian Planning Notes

  • 1ZWC's broader sector coverage relative to ZWB means the distribution character varies more across sectors; verify the T3 annually for eligible-dividend versus other-income proportions.
  • 2Compare ZWC's total return against a plain Canadian high-dividend ETF (e.g., ZDV) over a 5-year period to assess the opportunity cost of the option overlay.
  • 3TFSA or RRSP placement simplifies the mixed-distribution tax reporting.

Market Facts

Market Data

A factual market, distribution, valuation, and financial snapshot for this holding.

Market Data

Market data

Updated facts where available

Price

$22.56

Previous close

$22.50

Day range

$22.35 - $22.59

52wk range

$18.40 - $22.73

Market cap

N/A

Volume

76.5K

Avg volume

114.2K

Exchange

Toronto

Dividend and distribution

Forward rate

N/A

Trailing rate

$1.26

Forward yield

N/A

Trailing yield

0.00%

Per payment

$0.12

Cadence

Monthly

Next ex-date

N/A

Next pay

N/A

Last dividend

$0.12

Last dividend date

May 28, 2026

Performance

Daily change

$0.06

Daily change %

26.67%

52wk position

96.07%

Below 52wk high

-0.75%

Above 52wk low

22.61%

Open

$22.37

Earnings and financials

Trailing EPS

N/A

Forward EPS

N/A

Revenue

N/A

Revenue growth

N/A

Profit margin

N/A

Operating margin

N/A

Payout ratio

N/A

Free cash flow

N/A

Total cash

N/A

ROE

N/A

ROA

N/A

Debt/equity

N/A

Beta

N/A

Valuation

Trailing P/E

N/A

Forward P/E

N/A

Price/sales

N/A

Price/book

N/A

Enterprise value

N/A

EV/EBITDA

N/A

Analyst facts

Target mean

N/A

Target high

N/A

Target low

N/A

Recommendation mean

N/A

Recommendation key

N/A

Analysts

N/A

Canadian Context

Account placement

TFSA

Covered-call distributions often include return of capital, which can require cost-basis tracking in taxable accounts.

RRSP: Also avoids annual return-of-capital tracking.

Eligible dividend tax credit

Total credit
$345.27
Effective rate
34.53%

Broker DRIP status

Questrade

Available

Wealthsimple

Available

RBC Direct Investing

Available

TD Direct Investing

Available

Run Your Numbers

Carry this holding into a calculator

Use a planning tool that matches this holding's structure, payout timing, and income use case.

Compare this holdingTest DRIP durability

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This profile is informational only and does not constitute licensed financial advice. Signal values, planning notes, market data, and structure summaries may not reflect the most current issuer disclosures. Always verify current payout policy, ex-dividend dates, financial statements, and issuer communications before making any investment decision.