ZWHC.TO Review: BMO Covered Call Health Care ETF - Canada
BMO Covered Call Health Care ETF - Canada (ZWHC.TO) is a sector based fund - health care listed on the TSX. Below is our independent review using the Dependable Income Investing 13-factor scoring system, covering Fund Attributes, Risk, and Return — designed specifically for income-focused investors.
Fund Attributes 20% of overall score
Fund Attributes cover the foundational characteristics of ZWHC.TO: cost, company backing, track record, and size. These factors reflect the fund's stability and cost-efficiency.
Expense Ratio (25%)
MER 0.73% per factsheet (Feb 2026) - barely in 0.50-0.74% range
Fund Company Size (5%)
BMO Asset Management Inc. - major Canadian bank with $1.5 trillion in total assets - one of Canada's largest ETF providers
Fund History (40%)
Inception Jan 23 2023 - approximately 3.15 years as of review date - rounds up to 4 years
Fund AUM (30%)
Net assets $28.08M as of Mar 13 2026 per fund page - in 100M+ range (below 200M threshold)
Risk 35% of overall score
Risk factors evaluate how ZWHC.TO manages volatility, diversification, and the nature of its underlying assets. These are critical for income investors who prioritise capital preservation.
Volatility
Lower volatility may indicate more stability — important for investors living off their income.
Calculation result: beta 0.3240 vs SPY (Feb 2023 to Mar 2026) - covered call writing significantly reduces correlation to market
Sector Diversification
Holding across more sectors reduces the impact of any single industry downturn.
Geographic Diversification
Exposure across geographies can reduce risk from any single country's economic conditions.
Fund Risk
The fund's overall risk profile, based on self-reported classifications where available.
Underlying Assets
What the fund actually holds — stocks, bonds, synthetics, or other funds — affects risk profile significantly.
See our full Risk analysis for ZWHC.TO — including analyst notes on volatility, diversification, and underlying assets.
View Plans →Return 45% of overall score
Return factors assess the income generation quality of ZWHC.TO: current yield, distribution consistency, price history, and payment frequency. This is the most heavily weighted category for income investors.
Yield
The current dividend yield, reflecting the annual income generated relative to fund price.
Yield Stability
How consistent the distribution amounts have been over time — critical for income investors who budget around payments.
Capital History
The fund's track record of price appreciation or depreciation, reflecting total return alongside income.
Distribution Frequency
How often the fund pays distributions — monthly payments are generally preferred by income investors.
Monthly distributions per fund page and ETF Facts PDF
See our full Return analysis for ZWHC.TO — yield rating, distribution consistency score, and capital history.
View Plans →Our Review Methodology
Every fund reviewed on Dependable Income Investing is scored using our 13-factor Fund Report Card, organised into three weighted categories: Fund Attributes (20%), Risk (35%), and Return (45%). Each criterion is rated 1–5 by our analysts based on publicly available fund data.
We also calculate a Dependability Score — a weighted composite of six income-specific factors ranked by importance for retirement income investors: Yield Stability, Yield, Volatility, Capital History, Fund Risk, and Underlying Assets. This score is designed to answer the question income investors care about most: can I depend on this fund to pay me reliably?
Full scores, ratings, and analyst notes are available in the Dependable Income Investing app.
See our full scoring methodology →
Frequently Asked Questions About ZWHC.TO
What is ZWHC.TO's expense ratio?
MER 0.73% per factsheet (Feb 2026) - barely in 0.50-0.74% range
How long has ZWHC.TO been trading?
Inception Jan 23 2023 - approximately 3.15 years as of review date - rounds up to 4 years
How large is ZWHC.TO by assets under management?
Net assets $28.08M as of Mar 13 2026 per fund page - in 100M+ range (below 200M threshold)
Who manages ZWHC.TO?
BMO Asset Management Inc. - major Canadian bank with $1.5 trillion in total assets - one of Canada's largest ETF providers
Where can I see the full ZWHC.TO review?
The complete 13-factor review — including all Risk and Return scores, analyst notes, and your Dependability Score — is available in the Dependable Income Investing app.
Does ZWHC.TO pay monthly dividends?
Monthly distributions per fund page and ETF Facts PDF. Full distribution history and yield stability score are available in the Dependable Income Investing app.
Is ZWHC.TO a high-volatility fund?
Calculation result: beta 0.3240 vs SPY (Feb 2023 to Mar 2026) - covered call writing significantly reduces correlation to market. See the full volatility score and risk analysis in the Dependable Income Investing app.
How often does ZWHC.TO pay distributions?
Monthly distributions per fund page and ETF Facts PDF. Distribution consistency and yield stability ratings are available in the app.
See the Full ZWHC.TO Review
The Dependable Income Investing app gives you the complete picture: all 13 scoring factors, analyst notes, Dependability Score, and tools to compare ZWHC.TO against other income funds side by side.
View Plans →Also available: free fund comparison tools in the app.