In this episode, Bipan Rai and Matt Montemurro join host, Esther Choi to unpack the latest trends in global commodity markets, exploring how broad-based commodity ETFs can streamline access to multiple futures exposures and offer investors a simple, cost-efficient approach to portfolio diversification. 

Esther Choi is Vice President, ETF Specialist, BMO ETFs at BMO Global Asset Management (BMO GAM). She is joined by Bipan Rai, Head of ETF Strategy, Exchange Traded Funds at BMO GAM, and Matt Montemurro, Head of Fixed Income and Equity Index ETFs at BMO GAM. Recorded live on January 29, 2026.

ETFs:

· BMO Gold Bullion ETF (ZGLD) 

· BMO Covered Call Spread Gold Bullion ETF (ZWGD) 

· BMO Broad Commodity ETF (ZCOM) 

· BMO Equal Weight Oil & Gas Index ETF (ZEO)

· BMO SPDR Energy Select Sector Index ETF (ZXLE)

· BMO Equal Weight Global Base Metals Hedged to CAD Index ETF (ZMT)

· BMO Equal Weight Global Gold Index ETF (ZGD)

· BMO Junior Gold Index ETF (ZJG)

Sources:

ETF Flows, according to the National Bank Report, December 2025

Macro Notes - The ‘Oil to Gold’ Rotation in Canada

⁠⁠Bloomberg Commodity Index (BCOM): 2026 AnnualRebalance FAQ⁠⁠

Press Release - January 23, 2026 - BMO Reduces Fees on Select ETFs and Updates Risk Ratings

Register here to join Bipan Rai’s Feb. 9 Reddit ‘AskMe Anything’ event.

Disclaimers:

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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.

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