Is BMO Covered Call Utilities ETF halal to invest in?

As of September 2026, BMO Covered Call Utilities ETF ZWU.TO is classified as not halal according to Musaffa’s Shariah screening methodology. This classification is based on an assessment of the company’s business activities and financial ratios against Islamic investment guidelines.

Is BMO Covered Call Utilities ETF a Shariah-compliant ETF?

An ETF is considered Shariah-compliant if its underlying assets consist primarily of companies that operate in permissible business activities and meet Islamic financial screening thresholds. Musaffa analyzes BMO Covered Call Utilities ETF using these criteria to determine its compliance status.

How often is the Shariah compliance for BMO Covered Call Utilities ETF updated?

The Shariah compliance status of BMO Covered Call Utilities ETF may be updated periodically when new portfolio disclosures, financial statements of underlying companies, or other relevant information becomes available.

Can a halal ETF like BMO Covered Call Utilities ETF become non-compliant?

Yes. An ETF that is currently Shariah-compliant may become non-compliant if its underlying holdings change or if the financial ratios of the companies within the fund exceed Shariah thresholds.

Where can I check the Shariah status of BMO Covered Call Utilities ETF?

You can check the latest Shariah compliance status of BMO Covered Call Utilities ETF on Musaffa's ETF page, where screening results and key indicators are updated to help Muslim investors make informed decisions.

BMO Covered Call Utilities ETF ZWU.TO

ZWU.TO Shariah Compliance

Screening Methodology: AAOIFI

As of September 2026, BMO Covered Call Utilities ETF is classified as not halal.

NOT HALAL

Is BMO Covered Call Utilities ETF Halal?

Shariah Compliance Analysis of ZWU.TO ETF

CA Equity Utilities

No. As of September 2026, BMO Covered Call Utilities ETF (ZWU.TO) is classified as NOT HALAL by Musaffa under its AAOIFI-based Shariah screening methodology. BMO Covered Call Utilities ETF does not pass Musaffa's business and financial screening criteria.

ZWU.TO was created on 2011-10-20 by BMO. The fund's investment portfolio concentrates primarily on utilities equity. The ETF currently has 2190.28m in AUM and 27 holdings. The fund holds an actively managed portfolio of Canadian utilities firms with an overlay of covered call options.

BMO Covered Call Utilities ETF (ZWU.TO) Chart

Key Statistics of BMO Covered Call Utilities ETF (ZWU.TO)

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FAQ's for BMO Covered Call Utilities ETF (ZWU.TO)

As of September 2026, BMO Covered Call Utilities ETF ZWU.TO is classified as not halal according to Musaffa’s Shariah screening methodology. This classification is based on an assessment of the company’s business activities and financial ratios against Islamic investment guidelines.
An ETF is considered Shariah-compliant if its underlying assets consist primarily of companies that operate in permissible business activities and meet Islamic financial screening thresholds. Musaffa analyzes BMO Covered Call Utilities ETF using these criteria to determine its compliance status.
The Shariah compliance status of BMO Covered Call Utilities ETF may be updated periodically when new portfolio disclosures, financial statements of underlying companies, or other relevant information becomes available.
Yes. An ETF that is currently Shariah-compliant may become non-compliant if its underlying holdings change or if the financial ratios of the companies within the fund exceed Shariah thresholds.
You can check the latest Shariah compliance status of BMO Covered Call Utilities ETF on Musaffa’s ETF page, where screening results and key indicators are updated to help Muslim investors make informed decisions.