BMO Europe High Dividend Covered Call ETF — monthly distribution history, current yield, ex-dates and payout calculator. European income diversification. Updated May 2026.
Informational only. Not investment advice. ZWP holds European equities — currency risk applies. Always verify with the fund provider before investing.
ZWP (BMO Europe High Dividend Covered Call ETF) holds a portfolio of European high-dividend paying stocks — companies from the UK, Germany, France, Switzerland, Netherlands and other European markets — and writes covered call options on a portion of the portfolio to generate monthly income.
European markets are known for their high dividend-paying companies, particularly in sectors like financials, utilities, telecoms, consumer staples, and energy. By layering a covered-call strategy on top, ZWP aims to boost income further.
For Canadian investors, ZWP offers a convenient way to add international geographic diversification to an income portfolio without leaving the TSX. It trades as ZWP.TO in Canadian dollars.
Currency note: ZWP's underlying holdings are in European currencies (EUR, GBP, CHF etc.). Currency movements between the CAD and European currencies can affect both the unit price and distributions.
If the chart doesn't load, refresh or disable content blockers.
| Month | Distribution/Unit (CAD) | Ex-Date | Pay Date |
|---|---|---|---|
| Jan 2025 | ~$0.11 | 2025-01-30 | 2025-02-05 |
| Feb 2025 | ~$0.11 | 2025-02-27 | 2025-03-05 |
| Mar 2025 | ~$0.11 | 2025-03-28 | 2025-04-03 |
| Apr 2025 | ~$0.11 | 2025-04-29 | 2025-05-05 |
| May 2025 | ~$0.11 | 2025-05-29 | 2025-06-04 |
| Jun 2025 | ~$0.11 | 2025-06-27 | 2025-07-03 |
| Jul 2025 | ~$0.12 | 2025-07-30 | 2025-08-05 |
| Aug 2025 | ~$0.12 | 2025-08-28 | 2025-09-04 |
| Sep 2025 | ~$0.12 | 2025-09-29 | 2025-10-03 |
| Oct 2025 | ~$0.12 | 2025-10-30 | 2025-11-05 |
| Nov 2025 | ~$0.12 | 2025-11-27 | 2025-12-03 |
| Dec 2025 | ~$0.12 | 2025-12-30 | 2026-01-06 |
| Jan 2026 | ~$0.12 | 2026-01-30 | 2026-02-05 |
| Feb 2026 | ~$0.12 | 2026-02-27 | 2026-03-05 |
| Mar 2026 | ~$0.12 | 2026-03-28 | 2026-04-03 |
| Apr 2026 ★ | ~$0.12 | 2026-04-29 | 2026-05-05 |
| May 2026 | TBA | ~Final week May | ~First week Jun |
Estimate your monthly income. Rough estimate only — not investment advice.
| Feature | ZWP | ZWB | ZWC |
|---|---|---|---|
| Geographic focus | Europe (UK, Germany, France etc.) | Canada (banks only) | Canada (multi-sector) |
| Covered calls? | Yes | Yes | Yes |
| Approx. yield (2026) | ~6–7% | ~6.5–7% | ~5.6–5.7% |
| Currency exposure | EUR, GBP, CHF (to CAD) | CAD only | CAD only |
| Best for | Geographic diversification + income | Canadian bank income focus | Canadian multi-sector income |
ZWP gives Canadian investors monthly income from European high-dividend stocks — a way to diversify geographically beyond Canada and the U.S. while staying on the TSX in Canadian dollars. European markets can perform differently from Canadian markets, adding diversification to an income portfolio.
ZWP does not fully hedge currency risk in all versions. Currency movements between the CAD and EUR/GBP can affect both the unit price and distribution amounts. Check BMO's current fund documentation for the exact hedging approach. There may be a hedged version available.
ZWP and ZWB have different risks. ZWP adds currency risk and international market exposure. ZWB has concentrated Canadian bank sector risk. Neither is definitively riskier — they carry different types of risk. Not investment advice.
ZWP trades on the TSX as ZWP.TO. Available at any Canadian brokerage. See our broker comparison for low-fee options.
ETF names and symbols belong to their respective owners. This site is independent and not affiliated with BMO.