E267 – What Canada’s Election Results Mean for Investors

BMO ETFs: Views from the Desk

In today’s episode, Bipan Rai, Matt Montemurro, and your host, Erika Toth, break down the recent federal election results. They discuss the Liberal government’s priorities, interprovincial trade barriers, the economic outlook—and what it all means for investors.

Erika Toth is a Director of Institutional and Advisory at BMO GAM. She is joined by Bipan Rai, Head of ETF Strategy, Exchange Traded Funds at BMO GAM, and Matt Montemurro, Managing Director and Head of Fixed Income & Equity Index ETFs, Exchange Traded Funds. Recorded live on May 6, 2025.

ETFs:

• BMO Ultra Short-Term Bond ETF (ZST)
• BMO Money Market Fund ETF Series (ZMMK)
• BMO Target 2027 Canadian Corporate Bond ETF (ZXCO)
• BMO AAA CLO ETF (ZAAA)
• BMO AAA CLO ETF (Hedged Units) (ZAAA.F)
• BMO Long Federal Bond Index ETF (ZFL)
• BMO Short Corporate Bond Index ETF (ZCS)
• BMO Mid Federal Bond Index ETF (ZFM)
• BMO Aggregate Bond Index ETF (ZAG
• BMO MSCI EAFE Index ETF (ZEA)
• BMO MSCI EAFE Hedged to CAD Index ETF (ZDM)
• BMO Equal Weight Utilities Index ETF (ZUT)
• BMO Covered Call Utilities ETF (ZWU)
• BMO Equal Weight Industrials Index ETF (ZIN)
• BMO Global Infrastructure Index ETF (ZGI)

Total returns, as of 2025/04/30: ZWU⁠: 1 yr: 19.85%, 3yr: 2.51%, 5 yr 6.67%, 10 yr: 4.05%, SI: 4.86%

Annualized distribution yield, as of 2025/05/06: ZWU⁠: 7.62%

This yield is calculated by taking the most recent regular distribution, or expected distribution, (excluding additional year end distributions) annualized for frequency, divided by current NAV. The yield calculation does not include reinvested distributions.

Disclaimers:The episode is for informational or educational purposes only and does not provide investment advice or recommendations.

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 simplified prospectus.

All investments involve risk. The value of an ETF can go down as well as up and you could lose money. The risk of an ETF is rated based on the volatility of the ETF’s returns using the standardized risk classification methodology mandated by the Canadian Securities Administrators. Historical volatility does not dictate how volatile an ETF will be in the future. An ETF with a risk rating of “low” can still lose money. For more information about the risk rating and specific risks that can affect BMO AAA CLO ETF’s returns, see BMO AAA CLO ETF’s prospectus.

For a summary of the risks of an investment in BMO AAA CLO ETF, please see the specific risks set out in the prospectus.

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.