BMO ETFs: Views from the Desk

Investing has never been more accessible, yet money anxiety keeps growing. Hosts Zayla Saunders and Hilly Cutler talk with Rob Carrick about how Canadians’ attitudes toward money have changed, the rise of ETFs, rising bond yields and mortgage rates, and what keeps his readers up at night.

Zayla Saunders is Vice President of ETF Online Distribution at BMO Global Asset Management (BMO GAM) and Hilly Cutler is Director of Portfolio Consulting and Senior Portfolio Consultant at BMO GAM. They are joined by Rob Carrick, personal finance expert and former columnist at The Globe and Mail. This episode was recorded live on Monday, October 5, 2026.

ETFs mentioned:

· BMO Asset Allocation ETFs

· BMO Growth ETF (Ticker: ZGRO)

· BMO All-Equity ETF (Ticker: ZEQT) 

Sources:

Rob Carrick’s Personal Finance Substack

FOMC: Federal Open Market Committee

TFSA: Tax-Free Savings Account

RRSP: Registered Retirement Savings Plan

CPP: Canada Pension Plan
OAS: Old Age Security

Emerging markets: Major economies and many smaller countries such as China, India, Brazil, South Korea, Taiwan, and South Africa. 

Duration: A measure of the sensitivity of the price of a fixed incomeinvestment to a change in interest rates. Duration is expressed as number of years. The price of a bond with a longer duration would be expected to rise (fall) more than the price of a bond with lower duration when interest rates fall (rise).

Disclaimers:

Please visit for full disclaimers

This podcast is for information purposes. The viewpoints expressed by the speakers represent their assessment of the markets at the time of recording. Those views are subject to change without notice at any time. The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Investments should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to any circumstance.

Any statement that necessarily depends on future events may be a forward-looking statement. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Although such statements are based on assumptions that are believed to be reasonable, there can be no assurance that actual results will not differ materially from expectations. Investors are cautioned not to rely unduly on any forward-looking statements. In connection with any forward-looking statements, investors should carefully consider the areas of risk described in the most recent prospectus.

Commissions, management fees and expenses all may be associated with investments in exchange-traded funds. Please read the ETF Facts or prospectus of the BMO ETFs before investing. Exchange-traded funds are not guaranteed, their values change frequently and past performance may not be repeated.

For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the BMO ETF’s prospectus. BMO ETFs trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination.

This communication may contain links to other sites that BMO Global Asset Management (BMO GAM) does not own or operate. Any content from or links to a third-party website are not reviewed or endorsed by BMO GAM. Investors use any external websites or third-party content at their own risk. Accordingly, BMO GAM disclaims any responsibility for them. 

BMO ETFs are managed by BMO Asset Management Inc., an investment fund manager, a portfolio manager, and a separate legal entity from Bank of Montreal.

BMO Global Asset Management is a brand name under which BMO Asset Management Inc. and BMO Investments Inc. operate.

“BMO (M-bar roundel symbol)” is a registered trademark of Bank of Montreal, used under licence.

High inflation continues to weigh on Canadian portfolios. In this encore episode, Brock Smusiak joins hosts Zayla Saunders and Hilly Cutler to discuss how ETFs across commodities, gold and inflation-linked bonds can help investors build resilience beyond traditional diversification.

Zayla Saunders is Vice President of ETF Online Distribution at BMO Global Asset Management (BMO GAM) and Hilly Cutler is Director of Portfolio Consulting and Senior Portfolio Consultant at BMO GAM. They are joined by Brock Smusiak, Director, ETF Consultant at BMO GAM. This episode was recorded live on June 22, 2026.

Funds mentioned:

· BMO Short-Term US TIPS Index ETF (Ticker: ZTIP)

· BMO Broad Commodity ETF (Ticker: ZCOM) 

Sources:

· ‘Inflation Toolkit: Five Ways to Protect Your Portfolio from Rising Consumer Prices’ – Brock Smusiak, Director, ETFConsultant, BMO GAM

· ‘Commodities, Reconsidered: From Tactical Trade to Structural Allocation’ | Advisor Analyst – Bipan Rai, Managing Director, Head of ETF & Alternatives Strategy, BMO GAM

Disclaimers:

Please visit for full disclaimers

This podcast is for information purposes. The viewpoints expressed by the speakers represent their assessment of the markets at the time of recording. Those views are subject to change without notice at any time. The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Investments should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to any circumstance.

Any statement that necessarily depends on future events may be a forward-looking statement. Forward-looking statementsare not guarantees of performance. They involve risks, uncertainties and assumptions. Although such statements are based on assumptions that are believed to be reasonable, there can be no assurance that actual results will not differ materially from expectations. Investors are cautioned not to rely unduly on any forward-looking statements. In connection with any forward-looking statements, investors should carefully consider the areas of risk described in the most recent prospectus.

Commissions, management fees and expenses all may be associated with investments in exchange-traded funds. Please read the ETF Facts or prospectus of the BMO ETFsbefore investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all dividends or distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. Exchange-traded funds are not guaranteed, their values change frequently and past performance may not be repeated.

For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the BMO ETF’s prospectus. BMO ETFs trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination.

This communication may contain links to other sites that BMO Global Asset Management does not own or operate. Any content from or links to a third-party website are not reviewed or endorsed by us. You use any external websites or third-party content at your own risk. Accordingly, we disclaim any responsibility for them.

BMO ETFs are managed by BMO Asset Management Inc., an investment fund manager, a portfolio manager, and a separate legal entity from Bank of Montreal.

BMO Global Asset Management is a brand name under which BMO Asset Management Inc. and BMO Investments Inc. operate.“BMO (M-bar roundel symbol)” is a registered trademark of Bank of Montreal, used under licence.

Tech is leading the market—but what if the biggest opportunity is the sector nobody’s talking about? In this episode, host Zayla Saunders and special guest Jeff Elliott unpack why Healthcare could be one of the most undervalued opportunities in today’s market, how it can complement an AI-heavy portfolio, and what names and subsectors deserve a closer look right now. 

Zayla Saunders is Vice President of ETF Online Distribution at BMO Global Asset Management (BMO GAM) and Jeff Elliott is Head of Global Equity & Portfolio Manager (Healthcare) at BMO GAM. This episode was recorded live on Monday, September 21, 2026.

Funds mentioned:

· BMO Asset Allocation ETFs

· BMO Global Health Care Fund (Active ETF Series) (Ticker: ZGHC)

· BMO Global Equity Fund (Active ETF Series) (Ticker: ZGEQ)

Source: Morningstar Direct, BMO Global Asset Management as at September 18, 2026

The Fed: The U.S. Federal Reserve Board

GLP-1 (glucagon-like peptide-1) drugs: Medications that mimic the naturally occurring GLP-1 hormone to help regulate blood sugar, increase feelings of fullness, and reduce appetite.

Disclaimers:

Please visit for full disclaimers

This podcast is for information purposes. The viewpoints expressed by the speakers represent their assessment of the markets at the time of recording. Those views are subject to change without notice at any time. The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Investments should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to any circumstance.

Any statement that necessarily depends on future events may be a forward-looking statement. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Although such statements are based on assumptions that are believed to be reasonable, there can be no assurance that actual results will not differ materially from expectations. Investors are cautioned not to rely unduly on any forward-looking statements. In connection with any forward-looking statements, investors should carefully consider the areas of risk described in the most recent prospectus.

Commissions, management fees and expenses all may be associated with investments in BMO ETFs and ETF Series units of the BMO Mutual Funds. Please read the ETF facts or prospectus of the relevant BMO ETF or ETF Series of BMO Mutual Fund before investing. BMO ETFs and ETF Series units of the BMO Mutual Funds are not guaranteed, their values change frequently and past performance may not be repeated.

For a summary of the risks of an investment in the BMO ETFs or ETF Series units of the BMO Mutual Funds, please see the specific risks set out in the prospectus. BMO ETFs and ETF Series units of the BMO Mutual Funds trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination.

BMO ETFs are managed by BMO Asset Management Inc., an investment fund manager, a portfolio manager, and a separate legal entity from Bank of Montreal. The BMO Mutual Funds are offered by BMO Investments Inc., an investment fund manager and a separate legal entity from Bank of Montreal.

BMO Global Asset Management is a brand name under which BMO Asset Management Inc. and BMO Investments Inc. operate.

“BMO (M-bar roundel symbol)” is a registered trademark of Bank of Montreal, used under licence.

What did markets earn over the summer—and what does the back-to-school season mean for investors? In this episode, host Hilly Cutler sits down with Matt Montemurro to assess how equities, bonds, and commodities performed over the past few months, where ETF flows are heading, and what key themes—from Fed rate decisions to the AI trade and upcoming mega IPOs—could shape the final quarter of 2026.

Hilly Cutler is Director of Portfolio Consulting and Senior Portfolio Consultant at BMO Global Asset Management (BMO GAM) and Matt Montemurro is Head of Fixed Income and Equity Index ETFs at BMO GAM. This episode was recorded live on Monday, September 14, 2026.

Funds mentioned:

· BMO MSCI EAFE Index ETF (ZEA) 

· BMO MSCI Emerging Markets Index ETF (ZEM)

· BMO MSCI EAFE Hedged to CAD Index ETF (ZDM) 

· BMO MSCI EAFE Small-Mid Cap Index ETF (ZESM)

· BMO Broad Commodity ETF (ZCOM) 

· BMO Gold Bullion ETF (ZGLD) 

· BMO Gold Bullion Hedged to CAD ETF (ZGLH)

· BMO AAA CLO ETF (ZAAA)⁠

· BMO Discount Bond Index ETF (ZDB) 

· BMO Short-Term Discount Bond ETF (ZSDB)

· BMO Corporate Discount Bond ETF (ZCDB)

· BMO Asset Allocation ETFs

· BMO All-Equity ETF (ZEQT) 

Source: Morningstar Direct, BMO Global Asset Management as at September 11, 2026

CPI: Consumer Price Index

FOMC: Federal Open Market Committee

EAFE: Developed markets in Europe, Australasia, and the Far East.

Emerging markets: Major economies and many smaller countries such as China, India, Brazil, South Korea, Taiwan, and South Africa. 

Disclaimers:

Please visit for full disclaimers

This podcast is for information purposes. The viewpoints expressed by the speakers represent their assessment of the markets at the time of recording. Those views are subject to change without notice at any time. The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Investments should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to anycircumstance.

Any statement that necessarily depends on future events may be a forward-looking statement. Forward-looking statementsare not guarantees of performance. They involve risks, uncertainties and assumptions. Although such statements are based on assumptions that are believed to be reasonable, there can be no assurance that actual results will not differ materially from expectations. Investors are cautioned not to rely unduly on any forward-looking statements. In connection with any forward-looking statements, investors should carefully consider the areas of risk described in the most recent prospectus.

Commissions, management fees and expenses all may be associated with investments in exchange-traded funds. Please read the ETF Facts or prospectus of the BMO ETFsbefore investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all dividends or distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. Exchange-traded funds are not guaranteed, their values change frequently and past performance may not be repeated.

For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the BMO ETF’s prospectus. BMO ETFs trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination.

BMO ETFs are managed by BMO Asset Management Inc., an investment fund manager, a portfolio manager, and a separate legal entity from Bank of Montreal.

BMO Global Asset Management is a brand name under which BMO Asset Management Inc. and BMO Investments Inc. operate.

“BMO (M-bar roundel symbol)” is a registered trademark of Bank of Montreal, used under licence.

In this encore episode, Darim Abdullah joins hosts Zayla Saunders and Hilly Cutler to examine the differences in U.S. equity exposure—from the concentration risks of market-cap-weighted indices to how equal weighting can broaden a portfolio’s return drivers and reduce reliance on a handful of mega-cap names.

Zayla Saunders is Vice President of ETF Online Distribution at BMO Global Asset Management (BMO GAM) and Hilly Cutler is Director of Portfolio Consulting and Senior Portfolio Consultant at BMO GAM. They are joined by Darim Abdullah,Director of ETFs and Portfolio Consulting at BMO GAM. This episode was recorded live on June 1, 2026.

Funds mentioned:

· BMO MSCI USA Equal Weight Index ETF (Ticker: ZEQL)

Disclaimers:

Please visit for full disclaimers

This podcast is for information purposes. The viewpoints expressed by the speakers represent their assessment of the markets at the time of publication. Those views are subject to change without notice at any time. The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Investments should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to anycircumstance.

The viewpoints expressed by the speakers represent their assessment of the markets at the time of recording. Those views are subject to change without notice at any time. The information provided herein does not constitute a solicitation of an offer to buy, or an offer to sell securities nor should the information be relied upon as investment advice. Past performance is no guarantee of future results. This communication is intended for informational purposes only.

Any statement that necessarily depends on future events may be a forward-looking statement. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Although such statements are based on assumptions that are believed to be reasonable, there can be no assurance that actual results will not differ materially from expectations. Investors are cautioned not to rely unduly on any forward-looking statements. In connection with any forward-looking statements, investors should carefully consider the areas of risk described in the most recent prospectus.

The BMO ETFs or securities referred to herein are not sponsored, endorsed or promoted by MSCI Inc. (“MSCI”), and MSCI bears no liability with respect to any such BMO ETFs orsecurities or any index on which such BMO ETFs or securities are based. The prospectus of the BMO ETFs contains a more detailed description of the limited relationship MSCI has with BMO Asset Management Inc. and any related BMO ETFs. 

For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the BMO ETF’s prospectus. BMO ETFs trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination.

BMO ETFs are managed by BMO Asset Management Inc., an investment fund manager, a portfolio manager, and a separate legal entity from Bank of Montreal.

BMO Global Asset Management is a brand name under which BMO Asset Management Inc. and BMO Investments Inc. operate.

“BMO (M-bar roundel symbol)” is a registered trademark of Bank of Montreal, used under licence.

From chasing last year’s winners to sitting in cash too long, small decisions can work against long-term results. Zayla Saunders, Hilly Cutler and Erika Toth break down common ETF investing mistakes and practical ways to avoid them.

Zayla Saunders is Vice President of ETF Online Distribution at BMO Global Asset Management (BMO GAM). She is joined by Erika Toth, Director and Head of ETF and Portfolio Consulting at BMO GAM, and Hilly Cutler, Director of Portfolio Consulting and Senior Portfolio Consultant at BMO GAM. The episode was recorded live on Monday, August 31, 2026.

Funds mentioned:

BMO Conservative ETF (Ticker: ZCON)

BMO Balanced ETF (Ticker: ZBAL)

BMO Growth ETF (Ticker: ZGRO)

BMO Covered Call Canadian Banks ETF (Ticker: ZWB)

BMO Equal Weight Banks Index ETF (Ticker: ZEB)

Disclaimers:

This podcast is for information purposes. The viewpoints expressed by the speakers represent their assessment of the markets at the time of recording. Those views are subject to change without notice at any time. The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Investments should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to any circumstance.

Any statement that necessarily depends on future events may be a forward-looking statement. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Although such statements are based on assumptions that are believed to be reasonable, there can be no assurance that actual results will not differ materially from expectations. Investors are cautioned not to rely unduly on any forward-looking statements. In connection with any forward-looking statements, investors should carefully consider the areas of risk described in the most recent prospectus.

Commissions, management fees and expenses all may be associated with investments in exchange-traded funds. Please read the ETF Facts or prospectus of the BMO ETFs before investing. Exchange-traded funds are not guaranteed, their values change frequently and past performance may not be repeated.

For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the BMO ETF’s prospectus. BMO ETFs trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination.

BMO ETFs are managed and administered by BMO Asset Management Inc., an investment fund manager and a portfolio manager, and a separate legal entity from Bank of Montreal.

BMO Global Asset Management is a brand name under which BMO Asset Management Inc. and BMO Investments Inc. operate.

“BMO (M-bar roundel symbol)” is a registered trademark of Bank of Montreal, used under licence.

What’s the difference between yield and distribution rate—and why does it matter? In this episode, hosts Zayla Saunders and Hilly Cutler sit down with Kiran Navaratnam to unpack how covered call strategies generate yield, how that yield differs from what a fund actually distributes, and why total return can provide a more complete picture than headline numbers alone.

Zayla Saunders is Vice President of ETF Online Distribution at BMO Global Asset Management (BMO GAM) and Hilly Cutler is Director of Portfolio Consulting and Senior Portfolio Consultant at BMO GAM. They are joined by Kiran Navaratnam, Non-Linear Solutions Vice President & Portfolio Manager at BMO GAM. This episode was recorded live on Monday, August 24, 2026.

ETFs mentioned:

·  BMO Covered Call ETFs

Sources:

Morningstar Direct, BMO Global Asset Management as at July 24, 2026

BMO’s Monthly Covered Call and Enhanced Income Report

Disclaimers:

Please visit for full disclaimers

This podcast is for information purposes. The viewpoints expressed by the speakers represent their assessment of the markets at the time of recording. Those views are subject to change without notice at any time. The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Investments should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to any circumstance.

Any statement that necessarily depends on future events may be a forward-looking statement. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Although such statements are based on assumptions that are believed to be reasonable, there can be no assurance that actual results will not differ materially from expectations. Investors are cautioned not to rely unduly on any forward-looking statements. In connection with any forward-looking statements, investors should carefully consider the areas of risk described in the most recent prospectus.

Commissions, management fees and expenses all may be associated with investments in exchange-traded funds. Please read the ETF Facts or prospectus of the BMO ETFs before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all dividends or distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. Exchange-traded funds are not guaranteed, their values change frequently and past performance may not be repeated.

For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the BMO ETF’s prospectus. BMO ETFs trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination.

BMO ETFs are managed by BMO Asset Management Inc., an investment fund manager, a portfolio manager, and a separate legal entity from Bank of Montreal.

BMO Global Asset Management is a brand name under which BMO Asset Management Inc. and BMO Investments Inc. operate.

“BMO (M-bar roundel symbol)” is a registered trademark of Bank of Montreal, used under licence.

Canadian investors are increasingly turning to passive investing as their portfolio foundation of choice. In this episode, special guest Erin Allen and host Zayla Saunders dig into why this trend continues to gain ground, from the evolving DIY investing landscape and the rise of hybrid advice models to the increasing pull of social media on next-gen investors.

Zayla Saunders is Vice President of ETF Online Distribution at BMO Global Asset Management (BMO GAM) and Erin Allen is Director, Direct Distribution at BMO GAM. This episode was recorded live on Monday, August 17, 2026.

ETFs mentioned:

· BMO Asset Allocation ETFs

· BMO Money Market Fund ETF Series (Ticker: ZMMK) 

Sources:

SPIVA Canada Year-End 2025 Scorecard

SPIVA Canada Persistence Scorecard: Year-End 2025

ETF Markets Insights

KYC: Know Your Client

KYP: Know Your Product

Collateralized Loan Obligation (CLO): A structured financial product where a manager pools together corporate loans and repackages them into tranches, or classes of securities, based on their risk level.

DIY (Do-It-Yourself) Investor: Individual who manages their own investment portfolios directly—typically through an online brokerage platform—rather than working with a financial advisor.

CRM3: Client Relationship Model Phase 3, also known as Total Cost Reporting (TCR), is a Canadian financial regulation built on its predecessor, CRM2, that mandates full transparency around investment fees and costs.

Disclaimers:

Please visit for full disclaimers

This podcast is for information purposes. The viewpoints expressed by the speakers represent their assessment of the markets at the time of recording. Those views are subject to change without notice at any time. The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Investments should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to any circumstance.

Any statement that necessarily depends on future events may be a forward-looking statement. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Although such statements are based on assumptions that are believed to be reasonable, there can be no assurance that actual results will not differ materially from expectations. Investors are cautioned not to rely unduly on any forward-looking statements. In connection with any forward-looking statements, investors should carefully consider the areas of risk described in the most recent prospectus.

Commissions, management fees and expenses all may be associated with investments in exchange-traded funds. Please read the ETF Facts or prospectus of the BMO ETFs before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all dividends or distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. Exchange-traded funds are not guaranteed, their values change frequently and past performance may not be repeated.

For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the BMO ETF’s prospectus. BMO ETFs trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination.

BMO ETFs are managed by BMO Asset Management Inc., an investment fund manager, a portfolio manager, and a separate legal entity from Bank of Montreal.

BMO Global Asset Management is a brand name under which BMO Asset Management Inc. and BMO Investments Inc. operate.

“BMO (M-bar roundel symbol)” is a registered trademark of Bank of Montreal, used under licence.

Two ETFs can track the same asset class and still deliver very different results. In this episode, hosts Hilly Cutler and Zayla Saunders unpack how major indices—from the S&P 500 and Russell to MSCI and FTSE—are actually constructed, the different methodologies at play, and how they shape portfolio construction, from large-cap overlap to overlooked emerging market exposure.

Zayla Saunders is Vice President of ETF Online Distribution at BMO Global Asset Management (BMO GAM) and Hilly Cutler is Director of Portfolio Consulting and Senior Portfolio Consultant at BMO GAM. This episode was recorded live on Monday, August 10, 2026.

ETFs mentioned:

· BMO CLO ETFs

· BMO Aggregate Bond Index ETF (Ticker: ZAG) 

· BMO MSCI EAFE Index ETF (Ticker: ZEA) 

· BMO MSCI USA Equal Weight Index ETF (Ticker: ZEQL)

· BMO Discount Bond Index ETF (Ticker: ZDB) 

Sources:

CIBC | Canadian ETF Weekly Recap – August 10, Jennifer Li

BMO ETF Compare Tool

‘SpaceX and Mega-IPOs: How Indices Are Adapting’ – Views from the Desk E317 with special guest Matt Montemurro

Sortino ratio: A risk-adjusted return metric that measures how much excess return an investment generates per unit of downside risk.

HIPs: TSE 100 Index Participation Fund

TIPs: Toronto 35 Index Participation Units, launched in March 1990, as the world's first ETF. TIPs and HIPs merged in March 2000 into what eventually became the iShares S&P/TSX 60 Index ETF (XIU), which tracks the 60 largest companies on the Toronto Stock Exchange (TSX).

Disclaimers:

Please visit for full disclaimers

This podcast is for information purposes. The viewpoints expressed by the speakers represent their assessment of the markets at the time of recording. Those views are subject to change without notice at any time. The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Investments should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to any circumstance.

Any statement that necessarily depends on future events may be a forward-looking statement. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Although such statements are based on assumptions that are believed to be reasonable, there can be no assurance that actual results will not differ materially from expectations. Investors are cautioned not to rely unduly on any forward-looking statements. In connection with any forward-looking statements, investors should carefully consider the areas of risk described in the most recent prospectus.

Commissions, management fees and expenses all may be associated with investments in exchange-traded funds. Please read the ETF Facts or prospectus of the BMO ETFs before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all dividends or distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. Exchange-traded funds are not guaranteed, their values change frequently and past performance may not be repeated.

For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the BMO ETF’s prospectus. BMO ETFs trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination.

BMO ETFs are managed by BMO Asset Management Inc., an investment fund manager, a portfolio manager, and a separate legal entity from Bank of Montreal.

BMO Global Asset Management is a brand name under which BMO Asset Management Inc. and BMO Investments Inc. operate.

“BMO (M-bar roundel symbol)” is a registered trademark of Bank of Montreal, used under licence.

When it comes to accessing international equity, Canadian investors have options. In this episode, special guest Stephanie Ng joins hosts Zayla Saunders and Hilly Cutler to unpack Canadian Depositary Receipts (CDRs)—what they are, how they work, and why they’re a uniquely Canadian approach to global investing.

Zayla Saunders is Vice President of ETF Online Distribution at BMO Global Asset Management (BMO GAM) and Hilly Cutler is Director of Portfolio Consulting and Senior Portfolio Consultant at BMO GAM. They are joined by Stephanie Ng, Senior Associate, Specialized Sales at BMO GAM. This episode was recorded live on Monday, June 15, 2026.

Source: Canadian Depositary Receipts (CDRs) - Directory 

Bid-ask spread: The difference between the highest price a buyer is willing to pay for a security and the lowest price a seller is willing to accept.

Management Expense Ratio (MER): The percentage of the annual fees plus the annual expenses, divided by the average net assets of the fund. 

Disclaimers:

Please visit for full disclaimers

This podcast is for information purposes. The viewpoints expressed by the speakers represent their assessment of the markets at the time of recording. Those views are subject to change without notice at any time. The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Investments should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to any circumstance.

Any statement that necessarily depends on future events may be a forward-looking statement. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Although such statements are based on assumptions that are believed to be reasonable, there can be no assurance that actual results will not differ materially from expectations. Investors are cautioned not to rely unduly on any forward-looking statements. In connection with any forward-looking statements, investors should carefully consider the areas of risk described in the most recent prospectus.

An investment in Canadian depositary receipts (“CDRs”) issued by Bank of Montreal (“BMO”) may not be suitable for all investors. Important information about these investments is contained in the short form base shelf prospectus and prospectus supplement for each series of CDRs (together, the “Prospectus”). Purchasers are directed to www.sedarplus.ca or to bmogam.com to obtain copies of the Prospectus and related disclosure before purchasing CDRs.

Commissions, management fees and expenses all may be associated with investments in exchange-traded funds. Please read the ETF Facts or prospectus of the BMO ETFs before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all dividends or distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. Exchange-traded funds are not guaranteed, their values change frequently and past performance may not be repeated.

For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the BMO ETF’s prospectus. BMO ETFs trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination.

BMO ETFs are managed by BMO Asset Management Inc., an investment fund manager, a portfolio manager, and a separate legal entity from Bank of Montreal.

BMO Global Asset Management is a brand name under which BMO Asset Management Inc. and BMO Investments Inc. operate.

“BMO (M-bar roundel symbol)” is a registered trademark of Bank of Montreal, used under licence.