BMO ETFs: Views from the Desk

Inflation remains an important consideration in portfolio construction, particularly as diversification within traditional financial assets can be less reliable across market environments. In this episode, special guest Brock Smusiak joins hosts Zayla Saunders and Hilly Cutler to discuss how ETFs across commodities, gold and inflation-linked bonds can help address portfolio risks within that broader context.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. ETFs mentioned:· BMO MSCI EAFE Index ETF (Ticker: ZEA) · 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, ETF Consultant, BMO GAM· Morningstar Direct, BMO Global Asset Management as at June 19, 2026· Canadian ETF Weekly Recap | CIBC, Jennifer Li - June 22, 2026· ETF Impact Report 2026–2027, State Street Investment Management· ‘Commodities, Reconsidered: From Tactical Trade to Structural Allocation’ | Advisor Analyst – Bipan Rai, Managing Director, Head of ETF & Alternatives Strategy, BMO GAMAUM: Assets Under Management CPI: Consumer Price Index GFC: Global Financial CrisisTIPS: Treasury Inflation-Protected SecuritiesReal Return Bond (RRB): A government bond whose principal and interest payments are adjusted for inflation, so the return you earn is protected against rising prices.Disclaimers:Please visit for full disclaimersThis 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.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.

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. Recorded live on Monday, June 15, 2026.ETF mentioned:·  BMO Gold Bullion Hedged to CAD ETF (Ticker: ZGLH)Sources:Canadian Depositary Receipts (CDRs) - DirectoryMorningstar Direct, BMO Global Asset Management as at June 12, 2026.FX: Foreign ExchangeIPO: Initial Public OfferingBid-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.FAANG: An acronym for the five most dominant U.S. technology companies: Facebook (now Meta), Amazon, Apple, Netflix, and Google (a subsidiary of Alphabet)Disclaimers:Please visit for full disclaimersThis 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.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.

Oil is high, volatility is low, and the Canadian dollar isn't behaving the way investors might expect. Bipan Rai welcomes Shaun Osborne, Chief Currency Strategist at Scotiabank, to discuss the forces driving USD/CAD, the outlook for global currencies, and why the next big move in foreign exchange may be hiding in plain sight. This podcast was recorded on June 8, 2026.Show link (Spotify): ⁠⁠⁠⁠https://open.spotify.com/show/54bsOfP7M4a6IMujUzRyBK⁠⁠⁠⁠Show link (Apple Podcasts): ⁠⁠⁠https://podcasts.apple.com/us/podcast/the-open-outcry/id1804618898⁠⁠Show link (Amazon Music): ⁠⁠⁠https://music.amazon.ca/podcasts/baf10f04-ec7f-4961-8eba-6a23043f4dd4/the-open-outcry⁠Disclaimers:This podcast is for informational or educational purposes only. No part of this presentation may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, recording or otherwise, without the written permission of BMO Investments Inc. or BMO Asset Management Inc. (collectively, BMO GAM). 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. 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 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. 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 Select Sector SPDR® Trust consists of eleven separate investment portfolios (each a “Select Sector SPDR® ETF” or an “ETF” and collectively the “Select Sector SPDR® ETFs” or the “ETFs”). Each Select Sector SPDR® ETF is an “index fund” that invests in a particular sector or group of industries represented by a specified Select Sector Index. The companies included in each Select Sector Index are selected on the basis of general industry classification from a universe of companies defined by the S&P 500®. The investment objective of each ETF is to provide investment results that, before expenses, correspond generally to the price and yield performance of publicly traded equity securities of companies in a particular sector or group of industries, as represented by a specified market sector index. The S&P 500®, SPDRs®, and Select Sector SPDRs® are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use. The stocks included in each Select Sector Index were selected by the compilation agent. Their composition and weighting can be expected to differ to that in any similar indexes that are published by S&P. The S&P 500 Index is an unmanaged index of 500 common stocks that is generally considered representative of the U.S. stock market. The index is heavily weighted toward stocks with large market capitalizations and represents approximately two-thirds of the total market value of all domestic common stocks. The S&P 500 Index figures do not reflect any fees, expenses or taxes. An investor should consider investment objectives, risks, fees and expenses before investing.

From Nasdaq and FTSE Russell to MSCI, the rules governing index inclusion are being rewritten in real time. In this episode, Matt Montemurro joins hosts Zayla Saunders and Hilly Cutler to unpack where the guardrails are bending, what SpaceX’s landmark IPO means for passive investors—and why the index you own may determine the exposure you get.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 Matt Montemurro, Head of Fixed Income and Equity Index ETFs at BMO GAM. Recorded live on Monday, June 8, 2026. ETFs mentioned:· BMO NASDAQ 100 Equity Hedged to CAD Index ETF (ZQQ)· BMO NASDAQ 100 Equity Index ETF (ZNQ)· BMO MSCI USA Equal Weight Index ETF (ZEQL)· BMO MSCI USA Equal Weight Index ETF (Hedged Units) (ZEQL.F)· BMO MSCI USA Equal Weight Index ETF (USD Units) (ZEQL.U)· BMO Global Communications Index ETF (COMM)· BMO S&P 500 Index ETF (ZSP) · BMO S&P 500 Hedged to CAD Index ETF (ZUE)· BMO SPDR Communication Services Select Sector Index ETF (ZXLC)· BMO SPDR Communication Services Select Sector Index ETF (Hedged Units) (ZXLC.F)Source: Morningstar Direct, as of June 8, 2026IPO: Initial Public OfferingMagnificent 7: A group of seven high‑performing U.S. technology and tech‑adjacent companies—Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla.Parabolic 7: A group of seven semiconductor, chip, and memory stocks riding the AI infrastructure boom. Coined by strategist Ben Emons, the term captures how their steep gains have largely outpaced the established “Magnificent 7” since 2026. The group includes Advanced Micro Devices (AMD), Broadcom (AVGO), Dell Technologies (DELL), Intel (INTC), Marvell (MRVL), Micron Technology (MU), and SanDisk (SNDK).Disclaimers:Please visit for full disclaimersThis 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 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.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 episode, Darim Abdullah joins hosts Zayla Saunders and Hilly Cutler to unpack why not all US equity exposure is created equal—from the mechanics of concentration risk in market cap weighted indices, to how equal weighting canbroaden 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 Monday, June 1, 2026. ETF mentioned:· BMO MSCI USA Equal Weight Index ETF (Ticker: ZEQL)Sources: Morningstar Direct, as of May 29, 2026BMO Capital Markets, ETF Weekly Flows Screener report, covering May 22–28, 2026Cboe Canada (ETF Flow Tracker; Trackinsight data as of June 1, 2026)Disclaimers:Please visit for full disclaimersThis 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. 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.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 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.