BMO Europe High Dividend Covered Call Hedged…

BMO Europe High Dividend Covered Call Hedged to CAD ET (ZWE.TO)

21.86

-0.01 (0.05%)

as of Jun 19, 2026, 7:59:29 pm Market Open.

113 watching

DON'T BUY

Problem with European business is government politics get in the way. Quality business names but difficult to make high returns in Europe. Would prefer US or Canadian banking ETFs.

BUY ON WEAKNESS

If you want to extract yield from the best companies in Europe, it is a great way to do it. There could be volatility. When there is volatility, it is when you want to put money to work.

PARTIAL BUY

Owns ZWP instead, which is un-hedged. Looking at the next 2-4 years, where is the value in the world? The value is most likely in Europe. They have a better yield. Likes this for international exposure.

BUY

ZWE vs. ZWU ZWU includes telecoms, pipelines, and electric companies as well as utilities. ZWU is good for the conservative investor, who wants a nice yield of tax-efficient income, with a very good yield about 7.5%. Longer term, you might have more growth in ZWE if you can look beyond the next 6-12 months.

BUY

ZWE is a high dividend covered call exposure to the best European payers. Good for those looking for exposure in the space. It hedges the currencies, so you don't have to worry about foreign currency volatility. Likely be able to maintain a good distribution unit. Good long term holding.

BUY

ZWE has a currency hedge. If there is a global downtown and it is meaningful, then you would be concerned. Doesn't think we will see this. It will be a normal 5-10%. When you get the big sell-offs, you don't want to hold covered calls because you don't get the upside capture. Right now, both of these would work. Would fall less than the other names.

COMMENT

ZPAY is his favourite way to play the US market. European ZWE is for Europe and if you need Canadian exposure. ZPAY is designed to yield around 6%. Will have some volatility but will have half of what the S&P will see.

COMMENT

For yield seekers, ZWU is a great domestic play. Yield is currently around 7%. It is interest rate sensitive and to energy. If you want European dividend plays, he would recommend ZWE and ZWP.

BUY

Both are good. If you want to extract yield form Europe, it is the better way to invest. Still owns them in his portfolios and strategies. One is currency hedged while the other is not.

COMMENT

Likes Europe better. When not investing in Canada, you don't get the dividend tax credit. In a taxable account, would focus on ZWU since it has favourable tax treatment. In a registered account, he has been allocating to international companies since dividend is better.

COMMENT

They are both identical. ZWP is not currency hedged. ZWE will hedge those currencies. Right now, he would want more exposure to a strengthening Euro than the CAD.

COMMENT

Fee is 72 basis points. Europe is a value space, which has started to outperform growth. He'd rather own the underlying securities, as you get a better return without the covered call overlay.

BUY

For yield seekers, this is a good way to get exposure to some of the best dividend payers in Europe. There is no reason there will be reason to change. During covid, dividend stocks did get crushed so it is not a proxy for bonds. Nothing wrong with using it to get exposure to yield.

BUY

He would prefer to have more exposure to the Euro so he would go with ZWP. However, both are good choices right now.

COMMENT

There is space for these ETFs for yield seekers. One of the challenges in 2020 was that dividend paying stocks did terrible relative to technology that does not pay dividends. Still likes them for conservative investors.

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BMO Europe High Dividend Covered Call Hedged to CAD ET (ZWE.TO)