BMO Equal Weight Banks Index ETF — monthly distribution history, current yield, ex-dates and payout calculator. No covered calls. Updated May 2026.
Informational only. Not investment advice.
ZEB (BMO Equal Weight Banks Index ETF) holds Canada's six major banks — TD, RBC, BMO, Scotiabank, CIBC, and National Bank — in equal weights, with no covered-call overlay. This means ZEB participates fully in bank stock gains when markets rise, unlike ZWB which caps some upside. ZEB's lower MER (~0.28% vs ZWB's ~0.72%) makes it more cost-efficient for long-term investors. It trades on the TSX as ZEB.TO.
| Month | Distribution/Unit | Ex-Date | Pay Date |
|---|---|---|---|
| Jan 2025 | $0.14 | 2025-01-30 | 2025-02-04 |
| Feb 2025 | $0.14 | 2025-02-27 | 2025-03-04 |
| Mar 2025 | $0.14 | 2025-03-28 | 2025-04-02 |
| Apr 2025 | $0.14 | 2025-04-29 | 2025-05-02 |
| May 2025 | $0.14 | 2025-05-29 | 2025-06-03 |
| Jun 2025 | $0.14 | 2025-06-27 | 2025-07-03 |
| Jul 2025 | $0.14 | 2025-07-30 | 2025-08-05 |
| Aug 2025 | $0.14 | 2025-08-28 | 2025-09-03 |
| Sep 2025 | $0.14 | 2025-09-29 | 2025-10-02 |
| Oct 2025 | $0.145 | 2025-10-30 | 2025-11-04 |
| Nov 2025 | $0.145 | 2025-11-27 | 2025-12-02 |
| Dec 2025 | $0.145 | 2025-12-30 | 2026-01-05 |
| Jan 2026 | $0.145 | 2026-01-30 | 2026-02-04 |
| Feb 2026 | $0.145 | 2026-02-27 | 2026-03-03 |
| Mar 2026 | $0.145 | 2026-03-28 | 2026-04-02 |
| Apr 2026 ★ | $0.145 | 2026-04-29 | 2026-05-04 |
| May 2026 | TBA | ~Final week May | ~First week Jun |
Estimate only — not investment advice.
| Feature | ZEB | ZWB | ZWC |
|---|---|---|---|
| Covered calls? | No | Yes | Yes |
| Approx. yield (2026) | ~2.6% | ~6.5–7% | ~5.6–5.7% |
| Upside participation | Full | Partially capped | Partially capped |
| MER (approx.) | ~0.28% | ~0.72% | ~0.72% |
In strong bull markets ZEB typically outperforms ZWB on total return due to no covered-call cap. Lower MER also compounds into a meaningful advantage over 10–20 years. Not investment advice.
ZEB trades on TSX as ZEB.TO. See our broker comparison.