BMO ETFs: Views from the Desk

Car loans, credit card balances, even the revenue from a restaurant chain: all of these can be pooled and turned intoinvestments. In this episode, Mark Jarosz joins hosts Zayla Saunders and Hilly Cutler to explain how structured credit brings these together, how CLOs and asset-backed securities differ, and the role both asset classes may play in a diversified fixed income portfolio.Zayla Saunders is Vice President of ETF Online Distribution at BMO Global Asset Management (BMO GAM), Hilly Cutler is Director of Portfolio Consulting and Senior Portfolio Consultant at BMO GAM, and Mark Jarosz is Head of CreditAlternatives at BMO GAM. This episode was recorded live on November 9, 2026. Funds mentioned: · BMO AAA CLO ETF (Ticker: ZAAA)⁠· BMO BBB CLO ETF (Ticker: ZBBZ)⁠· BMO Asset-Backed Securities ETF (Ticker: ZABS) Sources: Morningstar Direct, BMO Global Asset Management as at November 6, 2026 Morgan Stanley: US CLO TRADING COMMENTARY - Sept 2026ABS: Asset-backed securitiesCPI: Consumer Price Index GFC: Global Financial CrisisCollateralized Loan Obligation (CLO): A structured financial product where a manager pools together corporate loans andrepackages them into tranches, or classes of securities, based on their risk level.Sharpe Ratio: A risk-adjusted return measure calculated by using standard deviation and excess return to determine reward per unit of risk. The higher the Sharpe Ratio, the better the portfolio's historical risk-adjusted performance.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.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.

Geopolitics, property slowdowns, and lingering uncertainty—these are reasons some investors may have kept one of the world’s largest economies at arm’s length. But according to Sadiq Adatia and Aaron Ge, the headlines don’t tell the wholestory. In this episode, they join host Zayla Saunders to look beneath the surface, dispel common misconceptions, and explore what on-the-ground insights reveal about China’s evolving equity landscape.Zayla Saunders is Vice President of ETF Online Distribution at BMO Global Asset Management (BMO GAM), Sadiq Adata is Chief Investment Officer (CIO) at BMO GAM, and Aaron Ge is Deputy CIO of Equity Investment at Fullgoal Asset Management (Hong Kong). This episode was recorded live on Tuesday, October 27, 2026. Funds mentioned: BMO Greater China Fund - Series ABMO Greater China Fund - Series FBMO Greater China Fund - Advisor AUM: Assets Under ManagementBeta: A measure of the volatility, or systematic risk, of a security or a portfolio in comparison to the market as a whole. Disclaimers:Please visit for full disclaimersAaron Ge was not paid or otherwise compensated for his appearance. BMO Financial Group holds an ownership stake in Fullgoal Fund Management Company Limited, the parent company of Fullgoal Asset Management (Hong Kong) Limited.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 reference to a particular company is for illustrative purposes only and should not be considered as investment advice or a recommendation to buy or sell nor should it be considered as an indication of how the portfolio of any investment fund managed by BMO Global Asset Management is or will be invested. 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.

Most equity strategies focus on finding winners—but what if you could also benefit when certain stocks decline? In this episode, hosts Zayla Saunders and Hilly Cutler are joined by Sachal Mahajan and Yasser El Boudi, who pull back the curtain on long-short strategies: how they work, and how they’ve held up through some of the biggest market drawdowns of the past three years. Zayla Saunders, Vice President of ETF Online Distribution at BMO Global Asset Management (BMO GAM), and Hilly Cutler, Director of Portfolio Consulting and Senior Portfolio Consultant at BMO GAM, are joined by Sachal Mahajan, Director and Portfolio Manager, Disciplined Equities, and Yasser El Boudi, Associate Client Portfolio Manager, ETFs, both of BMO GAM. This episode was recorded live on Friday, October 23, 2026. Funds mentioned: BMO Long Short Canadian Equity ETF (Ticker: ZLSC)ZLSC total returns as of September 30, 2026: 1 yr: 18.18%, 3yr: 19.66%, SI: 19.67%BMO Long Short US Equity ETF (Ticker: ZLSU) ZLSU total returns as of September 30, 2026: 1 yr: 11.05%, 3yr: 18.98%, SI: 18.96%Inception date for both ZLSC and ZLSU is September 27, 2023.AUM: Assets Under ManagementBeta: A measure of the volatility, or systematic risk, of a security or a portfolio in comparison to the market as a whole. Risk-adjusted Return: A measure of investment performance taking into consideration how much risk/volatility was assumed to generate it. 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.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 one sector dominates the market, diversification isn’t as simple as owning the index—so how do you build a more balanced portfolio? In this episode, special guest Nick Koutsoftas joins host Zayla Saunders to break down how sector ETFs work, how they can be used to reduce concentration risk, and which sectors stand out as the most undervalued opportunities in today’s market.Zayla Saunders is Vice President of ETF Online Distribution at BMO Global Asset Management (BMO GAM) and Nick Koutsoftas is Vice President, Sector ETF Specialist at State Street Investment Management. This episode was recordedlive on Monday, October 19, 2026.Funds mentioned: · BMO SPDR Technology Select Sector Index ETF (Ticker: ZXLK)· BMO SPDR Industrials Select Sector Index ETF (Ticker: ZXLI)· BMO SPDR Health Care Select Sector Index ETF (Ticker: ZXLV) Capex: Capital ExpendituresGICS: The Global Industry Classification Standard (GICS) is a global framework developed by MSCI and S&P Dow Jones Indices that classifies publicly traded companies into one of 11 sectors based on their primary business activity.  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.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 thehistorical 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 (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.

From sticky inflation and rising bond yields to growing questions around AI, the macro backdrop is getting more complex. In this episode, special guest Bipan Rai joins host Zayla Saunders to unpack his Q4 portfolio strategy and what it means to stay invested—and protected—this quarter.Zayla Saunders is Vice President of ETF Online Distribution at BMO Global Asset Management (BMO GAM) and Bipan Rai is Head of ETF & Structured Solutions Strategy at BMO GAM. This episode was recorded live on October 9, 2026. ETFs mentioned: · BMO Broad Commodity ETF (ZCOM) · BMO MSCI USA High Quality Index ETF (ZUQ)· BMO US Equity Buffer Hedged to CAD ETF – October (ZOCT) Sources: ‘Sirens on the horizon’ – Q4 2026 portfolio strategy reportThe Open Outcry podcast with Bipan Rai The Fed: U.S. Federal Reserve Board Gross Domestic Product (GDP): The total monetaryvalue of all final goods and services produced within a country's borders in a specific time period, serving as the main measure of a nation's economic size.Non-Farm Payrolls (NFP): A key U.S. jobs report released monthly that measures how many jobs were added or lost in the economy, excluding farm workers and a few othercategories.Duration: A measure of the sensitivity of the price of a fixed income investment 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 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.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.

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 SubstackFOMC: Federal Open Market CommitteeTFSA: Tax-Free Savings AccountRRSP: Registered Retirement Savings PlanCPP: Canada Pension PlanOAS: 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 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. 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 GAMDisclaimers: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 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 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 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 CommitteeEAFE: 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 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.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 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. 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.