BMO ETFs: Views from the Desk – Détails, épisodes et analyse

As a shifting economic backdrop fans recession fears in the U.S., is a soft landing still on the table? In this episode, ETF Strategist Bipan Rai, and your host, Erika Toth, analyze the market outlook and discuss our Q3 investment strategy reports.

• Quarterly Fixed Income Strategy  
• Guided Portfolio Strategy Report 

ETFs:

• BMO Low Volatility Canadian Equity ETF (Ticker: ZLB)
• BMO Low Volatility US Equity ETF (Ticker: ZLU)
• BMO MSCI USA High Quality Index ETF (Ticker: ZUQ)
• BMO Equal Weight REITs Index ETF (Ticker: ZRE)
• BMO Low Volatility International Equity Hedged to CAD ETF (Ticker: ZLD)
• BMO Government Bond Index ETF (Ticker: ZGB)
• BMO Short-Term US Treasury Bond Index ETF (Ticker: ZTS)
• BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF (Ticker: ZSU)
• BMO Long Short US Equity ETF (Ticker: ZLSU)
• BMO US Equity Buffer Hedged to CAD ETF – July (Ticker: ZJUL)

Beta: A measure of the volatility of a security or a portfolio in comparison to the market as a whole.

FOMC: The Federal Open Market Committee.

Disclaimers:

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 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 investor that purchases Units of a Structured Outcome ETF other than at starting NAV on the first day of a Target Outcome Period and/or sells Units of a Structured Outcome ETF prior to the end of a Target Outcome Period may experience results that are very different from the target outcomes sought by the Structured Outcome ETF for that Target Outcome Period. Both the cap and, where applicable, the buffer are fixed levels that are calculated in relation to the market price of the applicable Reference ETF and a Structured Outcome ETF’s NAV (as Structured herein) at the start of each Target Outcome Period. As the market price of the applicable Reference ETF and the Structured Outcome ETF’s NAV will change over the Target Outcome Period, an investor acquiring Units of a Structured Outcome ETF after the start of a Target Outcome Period will likely have a different return potential than an investor who purchased Units of a Structured Outcome ETF at the start of the Target Outcome Period. This is because while the cap and, as applicable, the buffer for the Target Outcome Period are fixed levels that remain constant throughout the Target Outcome Period, an investor purchasing Units of a Structured Outcome ETF at market value during the Target Outcome Period likely purchase Units of a Structured Outcome ETF at a market price that is different from the Structured Outcome ETF’s NAV at the start of the Target Outcome Period (i.e., the NAV that the cap and, as applicable, the buffer reference). In addition, the market price of the applicable Reference ETF is likely to be different from the price of that Reference ETF at the start of the Target Outcome Period. To achieve the intended target outcomes sought by a Structured Outcome ETF for a Target Outcome Period, an investor must hold Units of the Structured Outcome ETF for that entire Target Outcome Period.

In this episode, ETF Strategist Bipan Rai, and host, Erika Toth, delve into the latest ETF industry flows and the themes shaping markets amid recent bouts of volatility.

• BMO S&P 500 Index ETF (Ticker: ZSP)
• BMO S&P 500 Hedged to CAD Index ETF (Ticker: ZUE)
• BMO NASDAQ 100 Equity Hedged to CAD Index ETF (Ticker: ZQQ)     
• BMO NASDAQ 100 Equity Index ETF (Ticker: ZNQ)
• BMO Low Volatility US Equity ETF (Ticker: ZLU)
• BMO Equal Weight Banks Index ETF (Ticker: ZEB)
• BMO Ultra Short-Term Bond ETF (Ticker: ZST)
• BMO USD Cash Management ETF (USD Units) (Ticker: ZUCM.U)
• BMO Gold Bullion ETF (Ticker: ZGLD)
• BMO Money Market Fund ETF Series (Ticker: ZMMK)
• BMO Aggregate Bond Index ETF (Ticker: ZAG)
• BMO Long Federal Bond Index ETF (Ticker: ZFL)
• BMO Mid Corporate Bond Index ETF (Ticker: ZCM)
• BMO Long Corporate Bond Index ETF (Ticker: ZLC)
• BMO Equal Weight US Banks Hedged to CAD Index ETF (Ticker: ZUB)
• BMO Equal Weight US Banks Index ETF (Ticker: ZBK)

National Bank Financial Report – Canadian ETF Flows for July 2024

VIX Index, as of 08/21/24

Disclaimers:

The viewpoints expressed by the Portfolio Manager 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 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 investor that purchases Units of a Structured Outcome ETF other than at starting NAV on the first day of a Target Outcome Period and/or sells Units of a Structured Outcome ETF prior to the end of a Target Outcome Period may experience results that are very different from the target outcomes sought by the Structured Outcome ETF for that Target Outcome Period. Both the cap and, where applicable, the buffer are fixed levels that are calculated in relation to the market price of the applicable Reference ETF and a Structured Outcome ETF’s NAV (as Structured herein) at the start of each Target Outcome Period. As the market price of the applicable Reference ETF and the Structured Outcome ETF’s NAV will change over the Target Outcome Period, an investor acquiring Units of a Structured Outcome ETF after the start of a Target Outcome Period will likely have a different return potential than an investor who purchased Units of a Structured Outcome ETF at the start of the Target Outcome Period. This is because while the cap and, as applicable, the buffer for the Target Outcome Period are fixed levels that remain constant throughout the Target Outcome Period, an investor purchasing Units of a Structured Outcome ETF at market value during the Target Outcome Period likely purchase Units of a Structured Outcome ETF at a market price that is different from the Structured Outcome ETF’s NAV at the start of the Target Outcome Period (i.e., the NAV that the cap and, as applicable, the buffer reference). In addition, the market price of the applicable Reference ETF is likely to be different from the price of that Reference ETF at the start of the Target Outcome Period. To achieve the intended target outcomes sought by a Structured Outcome ETF for a Target Outcome Period, an investor must hold Units of the Structured Outcome ETF for that entire Target Outcome Period.

In this deep-dive episode, special guests Paul Riccardella, Richard Ho, and your host, Kevin Prins, provide a careful analysis of factor ETFs—from their early history to how they are constructed. They also discuss MSCI’s unique methodology and several prudent ways to avoid value traps. Kevin Prins is the Managing Director and Head of Distribution for ETFs and Digital Distribution at BMO Global Asset Management. He is joined on the podcast by Paul Riccardella, Executive Director of Client Coverage at MSCI, and Richard Ho, Vice President of ETF Distribution at BMO Global Asset Management. ETFs mentioned in the podcast: BMO MSCI USA High Quality Index ETF (Hedged Units) (Ticker: ZUQ.F) BMO MSCI USA High Quality Index ETF (Ticker: ZUQ) BMO MSCI USA High Quality Index ETF (USD Units) (Ticker: ZUQ.U) BMO MSCI Canada Value Index ETF (Ticker: ZVC) BMO MSCI USA Value Index ETF (Ticker ZVU) BMO MSCI All Country World High Quality Index ETF (Ticker: ZGQ) BMO MSCI India ESG Leaders Index ETF (Ticker: ZID) BMO MSCI China ESG Leaders Index ETF (Ticker: ZCH) Disclaimers:  The viewpoints expressed by the Portfolio Manager 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 any circumstance. Any statement that necessarily depends on future events may be a forward-looking statement. Forward-looking statements are not guarantees of performance.  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 or securities 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. 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 by BMO Asset Management Inc., which is an investment fund manager and a portfolio manager, and a separate legal entity from Bank of Montreal. This podcast is for information purposes. The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Particular investments and/or trading strategies should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to any circumstance. “BMO (M-bar roundel symbol)” is a registered trademark of Bank of Montreal, used under licence.

Persistent inflation has investors looking for positive signs. In today’s episode, portfolio managers Chris McHaney, Chris Heakes, and your host, Mark Raes, examine Canada’s CPI. They also discuss structural tailwinds in the Energy Sector, Canadian banks, staying invested with quality dividend payers, and the taxation benefit of discount bond ETFs. Read the episode summary. Mark Raes is the Head of Product at BMO Global Asset Management. He is joined on the podcast by Chris McHaney and Chris Heakes, Portfolio Managers and ETF Specialists at BMO Global Asset Management. The episode was recorded live on September 21, 2022. ETFs mentioned in the podcast: BMO Equal Weight Utilities Index ETF (Ticker: ZUT) BMO Equal Weight Oil & Gas Index ETF (Ticker: ZEO) BMO Equal Weight REITs Index ETF (Ticker: ZRE) BMO Equal Weight Banks Index ETF (Ticker: ZEB) BMO Covered Call Canadian Banks ETF (Ticker: ZWB) BMO Discount Bond Index ETF (Ticker: ZDB) BMO US Dividend ETF (Ticker: ZDY) BMO Aggregate Bond Index ETF (Ticker: ZAG) BMO Short-Term Discount Bond ETF (Ticker: ZSDB) BMO Corporate Discount Bond ETF (Ticker: ZCDB)   Disclosure: The viewpoints expressed by the Portfolio Manager represent their assessment of the markets at the time of publication. Those views are subject to change without notice at any time without any kind of notice. 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. 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 or securities 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. Commissions, management fees and expenses (if applicable) all may be associated with investments in mutual funds and ETFs. Trailing commissions may be associated with investments in certain series of securities of mutual funds. Please read the ETF facts, fund facts or prospectus of the relevant mutual fund or ETF before investing. The indicated rates of return are the historical annual compounded total returns including changes in share or 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 securityholder that would have reduced returns. Mutual funds and ETFs are not guaranteed, their values change frequently and past performance may not be repeated. For a summary of the risks of an investment in BMO Mutual Funds or BMO ETFs, please see the specific risks set out in the prospectus of the relevant mutual fund or ETF. 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 Mutual Funds are offered by BMO Investments Inc., a financial services firm and separate entity from Bank of Montreal. BMO ETFs are managed and administered by BMO Asset Management Inc., an investment fund manager and portfolio manager and separate legal entity from Bank of Montreal.  BMO Global Asset Management is a brand name that comprises BMO Asset Management Inc. and BMO Investments Inc. ®/™Registered trademarks/trademark of Bank of Montreal, used under licence.

Following a red-hot inflation print earlier this week, many investors opted for an immediate sell-off, creating turbulence in the markets. In today’s episode, portfolio managers Alfred Lee, Matt Montemurro, and your host, Mark Raes, anticipate the Federal Reserve’s response. They also discuss opportunities to hedge outside of gold, positioning equities in a barbell approach, and finding the best bargains. Read the episode summary. Mark Raes is the Head of Product at BMO Global Asset Management. He is joined on the podcast by Alfred Lee and Matt Montemurro, Portfolio Managers and ETF Specialists at BMO Global Asset Management. The episode was recorded live on September 14, 2022. ETFs mentioned in the podcast: BMO High Quality Corporate Bond Index ETF (Ticker: ZQB) BMO Ultra Short-Term Bond ETF (Ticker: ZST) BMO Canadian Bank Income Index ETF (Ticker: ZBI) BMO Low Volatility US Equity ETF (Ticker: ZLU) BMO Global Infrastructure Index ETF (Ticker: ZGI) BMO Short-Term US TIPS Index ETF (Ticker: ZTIP) BMO Short-Term US TIPS Index ETF (Hedged Units) (Ticker: ZTIP.F) BMO Equal Weight Banks Index ETF (Ticker: ZEB) BMO Covered Call Canadian Banks ETF (Ticker: ZWB) BMO Short-Term Discount Bond ETF (Ticker: ZSDB) BMO Corporate Discount Bond ETF (Ticker: ZCDB) Disclosure: The viewpoints expressed by the Portfolio Manager represent their assessment of the markets at the time of publication. Those views are subject to change without notice at any time without any kind of notice. 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. 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 or securities 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. Commissions, management fees and expenses (if applicable) all may be associated with investments in mutual funds and ETFs. Trailing commissions may be associated with investments in certain series of securities of mutual funds. Please read the ETF facts, fund facts or prospectus of the relevant mutual fund or ETF before investing. The indicated rates of return are the historical annual compounded total returns including changes in share or 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 securityholder that would have reduced returns. Mutual funds and ETFs are not guaranteed, their values change frequently and past performance may not be repeated. For a summary of the risks of an investment in BMO Mutual Funds or BMO ETFs, please see the specific risks set out in the prospectus of the relevant mutual fund or ETF. 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 Mutual Funds are offered by BMO Investments Inc., a financial services firm and separate entity from Bank of Montreal. BMO ETFs are managed and administered by BMO Asset Management Inc., an investment fund manager and portfolio manager and separate legal entity from Bank of Montreal.  BMO Global Asset Management is a brand name that comprises BMO Asset Management Inc. and BMO Investments Inc. ®/™Registered trademarks/trademark of Bank of Montreal, used under licence.

In this special episode, Sohrab Movahedi, Chris Heakes and Daniel Stanley dive into third quarter results from Canada’s “Big Six,” discussing recent stock performance, bank yields, the benefits of liquidity, and the impact of falling housing prices. Daniel Stanley is an ETF Specialist at BMO Global Asset Management. He is joined on the podcast by Chris Heakes, Portfolio Manager and ETF Specialist, BMO Global Asset Management and Sohrab Movahedi, Managing Director, Financials Research, BMO Capital Markets. This episode was recorded on September 8, 2022. ETFs mentioned in the podcast: ·       BMO Equal Weight Banks Index ETF (Ticker: ZEB) ·       BMO S&P/TSX Capped Composite Index ETF (Ticker: ZCN) ·       BMO Covered Call Canadian Banks ETF (Ticker: ZWB) ·       BMO Canadian Dividend ETF (Ticker: ZDV) ·       BMO Equal Weight US Banks Hedged to CAD Index ETF (Ticker: ZUB) ·       BMO Equal Weight US Banks Index ETF (Ticker: ZBK) ·       BMO Covered Call US Banks ETF (Ticker: ZWK)   Disclosure: The viewpoints expressed by the Portfolio Manager represent their assessment of the markets at the time of publication. Those views are subject to change without notice at any time without any kind of notice. 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. S&P®, S&P/TSX Capped Composite®, S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”) and “TSX” is a trademark of TSX Inc. These trademarks have been licensed for use by S&P Dow Jones Indices LLC and sublicensed to BMO Asset Management Inc. in connection with the above mentioned BMO ETFs. These BMO ETFs are not sponsored, endorsed, sold or promoted by S&P Dow Jones LLC, S&P, TSX, or their respective affiliates and S&P Dow Jones Indices LLC, S&P, TSX and their affiliates make no representation regarding the advisability of trading or investing in such BMO ETF(s). Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the ETF Facts or prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in share or 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 securityholder 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 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., which is 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 that comprises BMO Asset Management Inc. and BMO Investments Inc.  ®/™Registered trademarks/trademark of Bank of Montreal, used under licence.

As the Bank of Canada once again raises interest rates—and indicates that more hikes are likely on the way—what’s the outlook for fixed income? In today’s episode, portfolio managers Chris Heakes, Chris McHaney, and your host, Kevin Prins, break down the market’s expectations. They also discuss ETF flows, geographic allocation, and currencies. Read the episode summary. Kevin Prins is the Managing Director, Head of ETF & Managed Accounts Distribution at BMO Global Asset Management. He is joined on the podcast by Chris Heakes and Chris McHaney, Portfolio Managers and ETF Specialists at BMO Global Asset Management. The episode was recorded live on September 7, 2022. ETFs mentioned in the podcast: ·       BMO S&P/TSX Capped Composite Index ETF (Ticker: ZCN) ·       BMO Ultra Short-Term Bond ETF (Ticker: ZST) ·       BMO Covered Call Canadian Banks ETF (Ticker: ZWB) ·       BMO Low Volatility Canadian Equity ETF (Ticker: ZLB) ·       BMO Low Volatility US Equity ETF (Ticker: ZLU) Disclosure: The viewpoints expressed by the Portfolio Manager represent their assessment of the markets at the time of publication. Those views are subject to change without notice at any time without any kind of notice. 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. S&P®, S&P/TSX Capped Composite®, S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”) and “TSX” is a trademark of TSX Inc. These trademarks have been licensed for use by S&P Dow Jones Indices LLC and sublicensed to BMO Asset Management Inc. in connection with the above mentioned BMO ETFs. These BMO ETFs are not sponsored, endorsed, sold or promoted by S&P Dow Jones LLC, S&P, TSX, or their respective affiliates and S&P Dow Jones Indices LLC, S&P, TSX and their affiliates make no representation regarding the advisability of trading or investing in such BMO ETF(s). 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 or securities 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. Commissions, management fees and expenses (if applicable) all may be associated with investments ETFs. Please read the ETF facts or prospectus of the relevant mutual fund or ETF before investing. The indicated rates of return are the historical annual compounded total returns including changes in share or 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 securityholder that would have reduced returns. ETFs are not guaranteed, their values change frequently and past performance may not be repeated. For a summary of the risks of an investment in BMO ETFs, please see the specific risks set out in the prospectus of the relevant ETF. 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 portfolio manager and separate legal entity from Bank of Montreal.   BMO Global Asset Management is a brand name that comprises BMO Asset Management Inc. and BMO Investments Inc. ®/™Registered trademarks/trademark of Bank of Montreal, used under licence.

With inflation potentially having peaked, could central banks start to lower interest rates sooner than expected? In today’s episode, portfolio managers Charles Myssie, Matt Montemurro, and your host, Mark Raes, break down the cases for a bullish vs. a bearish outlook. They also discuss market volatility, high yield bonds, and Canadian banks. Read the episode summary.   Mark Raes is the Head of Product at BMO Global Asset Management. He is joined on the podcast by Charles Myssie and Matt Montemurro, Portfolio Managers and ETF Specialists at BMO Global Asset Management. The episode was recorded live on August 24, 2022.   ETFs mentioned in the podcast: BMO Covered Call Utilities ETF (Ticker: ZWU) BMO Canadian High Dividend Covered Call ETF (Ticker: ZWC) BMO US High Dividend Covered Call ETF (Ticker: ZWH) BMO High Yield US Corporate Bond Hedged to CAD Index ETF (Ticker: ZHY) BMO High Yield US Corporate Bond Index ETF (Ticker: ZJK) BMO Floating Rate High Yield ETF (Ticker: ZFH) BMO ESG High Yield US Corporate Bond Index ETF (Ticker: ESGH) BMO ESG High Yield US Corporate Bond Index ETF (Hedged Units) (Ticker: ESGH.F) BMO Short-Term US TIPS Index ETF (Ticker: ZTIP) BMO Equal Weight Banks Index ETF (Ticker: ZEB) BMO Covered Call Canadian Banks ETF (Ticker: ZWB)   Disclosure:   The viewpoints expressed by the Portfolio Manager represent their assessment of the markets at the time of publication. Those views are subject to change without notice at any time without any kind of notice. 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.   Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the ETF Facts or prospectus 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 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., which is 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 that comprises BMO Asset Management Inc. and BMO Investments Inc.   ®/™Registered trademarks/trademark of Bank of Montreal, used under licence.

Despite Canada’s inflation easing slightly in July, investors are not out of the woods yet. In today’s episode, portfolio managers Chris Heakes, Matt Montemurro, and your host, Mark Raes, scrutinize the markets’ mini rally. They also discuss the importance of asset allocation in fixed income investments, the rebalancing process, gold prices, and strategies for preserving capital come the fall. Read the episode summary. Mark Raes is the Head of Product at BMO Global Asset Management. He is joined on the podcast by Chris Heakes and Matt Montemurro, Portfolio Managers and ETF Specialists at BMO Global Asset Management. The episode was recorded live on August 17, 2022. ETFs mentioned in the podcast: BMO S&P 500 Index ETF (Ticker: ZSP) BMO NASDAQ 100 Equity Index ETF (Ticker: ZNQ) BMO Low Volatility US Equity ETF (Ticker: ZLU) BMO US Dividend ETF (Ticker: ZDY) BMO Aggregate Bond Index ETF (Ticker: ZAG) BMO Long Federal Bond Index ETF (Ticker: ZFL) BMO Long Corporate Bond Index ETF (Ticker: ZLC) BMO Growth ETF (Ticker: ZGRO) BMO Equal Weight Global Gold Index ETF (Ticker: ZGD) BMO Low Volatility Canadian Equity ETF (Ticker: ZLB) Disclosure: The viewpoints expressed by the Portfolio Manager represent their assessment of the markets at the time of publication. Those views are subject to change without notice at any time without any kind of notice. 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. Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the ETF Facts or prospectus before investing. Exchange traded funds are not guaranteed, their values change frequently and past performance may not be repeated. NASDAQ®, and NASDAQ-100 Index® or NASDAQ-100 Index® Hedged to CAD, are registered trademarks of Nasdaq, Inc. (which with its affiliates is referred to as the “Corporations”) and are licensed for use by the Manager. The ETF(s) have not been passed on by the Corporations as to their legality or suitability. The ETF(s) are not issued, endorsed, sold, or promoted by the Corporations. The Corporations make no warranties and bear no liability with respect to the ETF(s). “TSX” is a trademark of TSX Inc. These trademarks have been licensed for use by S&P Dow Jones Indices LLC and sublicensed to BMO Asset Management Inc. in connection with the above mentioned BMO ETFs. These BMO ETFs are not sponsored, endorsed, sold or promoted by S&P Dow Jones LLC, S&P, TSX, or their respective affiliates and S&P Dow Jones Indices LLC, S&P, TSX and their affiliates make no representation regarding the advisability of trading or investing in such BMO ETF(s). For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the 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., which is 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 that comprises BMO Asset Management Inc. and BMO Investments Inc. ®/™Registered trademarks/trademark of Bank of Montreal, used under licence.

Earlier this week, the U.S. Senate voted on the Inflation Reduction Act, a historic and significant health care, tax, and climate bill. In today’s episode, portfolio managers Chris McHaney, Chris Heakes, and your host, Kevin Prins, unpack the legislation and gauge the markets’ reactions to the news. They also look at redefining the word “recession,” exposure to tech with a large cap growth strategy, and mega-trend ETFs. Read the episode summary. Kevin Prins is the Managing Director, Head of ETF & Managed Accounts Distribution at BMO Global Asset Management. He is joined on the podcast by Chris McHaney and Chris Heakes, Portfolio Managers and ETF Specialists at BMO Global Asset Management. The episode was recorded live on August 10, 2022. ETFs mentioned in the podcast: BMO Canadian Bank Income Index ETF (Ticker: ZBI) BMO Clean Energy Index ETF (Ticker: ZCLN) BMO Brookfield Global Renewables Infrastructure Fund ETF Series (Ticker: GRNI) BMO Equal Weight US Health Care Hedged to CAD Index ETF (Ticker: ZUH) BMO Equal Weight US Health Care Index ETF (Ticker: ZHU) BMO Covered Call Technology ETF (Ticker: ZWT)   Disclosure: The viewpoints expressed by the Portfolio Manager represent their assessment of the markets at the time of publication. Those views are subject to change without notice at any time without any kind of notice. 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. Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the ETF Facts or prospectus 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 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., which is 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 that comprises BMO Asset Management Inc. and BMO Investments Inc. ®/™Registered trademarks/trademark of Bank of Montreal, used under licence.