BMO expands in fixed-income and covered-call ETFs

Rudy Luukko 7 March, 2018 | 6:00PM

BMO Asset Management Inc. today launched five new exchange-traded funds on the Toronto Stock Exchange, consisting of three bond-index funds and two actively managed equity funds that employ covered-call writing.

BMO Government Bond Index (symbol: ZGB) will invest in Canadian federal, provincial and municipal bonds across all sectors and maturities. BMO Corporate Bond Index (ZCB) will hold Canadian investment-grade corporate bonds, diversified by sectors and maturities. BMO Short-Term Bond Index (ZSB) will provide exposure to Canadian investment-grade bonds with maturities of one to five years.

Each bond ETF has a Bloomberg Barclays index as its benchmark, and will make quarterly distributions. Management fees, which include most expenses, are 0.15% for the government and corporate ETFs, and 0.09% for the short-term ETF.

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About Author

Rudy Luukko

Rudy Luukko  Rudy Luukko is a freelance writer who contributes to Morningstar.ca on topics involving fund industry trends and regulatory issues. He retired in May 2018 from his position as editor, investment and personal finance, at Morningstar Canada, where he had worked since 2004. He has also worked as an editor and writer for various general, specialty and institutional media, and he has co-authored courses for the Canadian Securities Institute. Follow Rudy on Twitter: @RudyLuukko.

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