BMO EQUAL WEIGHT BANKS INDEX ETF (ZEB.TO)…

BMO EQUAL WEIGHT BANKS INDEX ETF (ZEB.TO)

74.66

+0.42 (0.57%)

as of Jun 19, 2026, 7:59:59 pm Market Open.

141 watching

COMMENT

The rule of thumb is, if you are bullish, then you don't want the headwind of the covered call overlay. If you are concerned about sideways or downside risk, then you want the additional yield from the covered call.

COMMENT

ZWB-T vs. ZEB-T. If your view on the banks is sideways to down a little bit, then ZWB-T is the better holding but if you are bullish on the banks then you don’t want the covered calls. He prefers ZEB-T right now because he wants all the price capture upside when the banks recover.

DON'T BUY

Banks are relatively benign. Not good, not bad. There is a lid on banks. It's a good dividend play for the long term but there is a real up and down in the stock price. He wouldn't expect much growth.

DON'T BUY

Canada has a branding problem now--money isn't flowing into Canada. Look at Teck Resources yesterday withdrawing a massive project. We have no catalyst to turn things around, though he hopes things do turn around. The yield of this is alright though, so you are paid to wait. Look abroad for better returns like South Korea, which should bounce back.

BUY

A bank ETF He owns banks, not ETFs, but this is good, a blend of banks that pays a fine 4% dividend.

HOLD

If you own this, you might as well hang onto this. However, watch your total Canadian exposure. The banks are 30% of the TSX composite and the management expense ratio is high. You're paying a premium, especially if it's taxable. He would diversify out of this. If you don't own it, don't buy it.

BUY

A Canadian bank or a bank ETF? What's the seasonality? Seasonality is fall into spring. BNS is a contrarian play, but which banks depends on what you want. ZEB is the ETF to play.

COMMENT

He's tended to own banks individually. He's not particularly excited by some of the banks in this ETF. Would go with a covered call rather than the equal weight.

DON'T BUY

It holds 10 securities in a plain, vanilla basket of bank stocks. But this has been flat year to date. Caveat: banks aren't as safe you think as the recession approaches.

BUY

The banks have always done well and have a great track record. Likes this in particular because there is US exposure. The only problem is that the MER is too high at 66 basis points.

TOP PICK

It's consolidating. You can hold all the Canadian banks and reduce risk on individual banks, which have been deeply oversold in Canada. This can gain $2-3 before year-end, and it pays a 4% dividend. Sell below $26.80.

PAST TOP PICK

(A Top Pick Jul 03/18, Up 2%) He bought then expecting higher interest rates, but that didn't happen, so banks are getting squeezed. ZEB has good dividends from quality companies. The Canadian banks are misunderstood. Their fees come from fees and investment banking, not only mortages. ZEB is worth holding.

WEAK BUY

The banks are very inexpensive. His stance has been to focus on the US banks. He would like KBE-N preferably. This has long secular growth trails and you might do better in US banks.

WAIT

ZEB or ZWB? He has lightened up on the banks and is less than market weight now. He looks at the mortgage and housing markets, and right now it is not the best environment for the banks. Probably should be in the ETF with the covered call, ZWB. Tariffs are causing concerns and may wait till these issues are resolved. He would wait before committing to either of these ETF's.

DON'T BUY

As a registered investment We're late in the cycle and yield curves are starting to invert, so he doesn't like the banks. The banks won't break out, so he's underweight banks in Canada or America. That said, don't sell them all, because the dividends are good.

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