BMO Launches New Exchange Traded Products on Cboe Canada
Toronto | October 2nd, 2023 – Cboe Canada, the new business name of the NEO Exchange, is pleased to announce BMO has returned for the launch of four new Exchange Traded Products. Three of the new funds managed by BMO Asset Management Inc., and one managed by BMO Investments Inc., begin trading on Cboe Canada today under the symbols ZEBA, ZUEA, ZOCT, and BGDV, respectively.
“We are pleased to launch our new Structured Outcome ETFs on the Cboe Canada Exchange. The new Structured Outcome ETFs include both Buffers and Accelerators, allowing investors to gain exposure to broad equity markets, while differentiating their risk-return profiles,” said Sara Petrcich, Managing Director and Head of Exchange Traded Funds and Structured Solutions, BMO Global Asset Management. “Buffer ETFs provide protection on the downside while Accelerator ETFs can enhance return potential with no additional risk. These innovative solutions combine the familiarity of an ETF with structured solutions that give investors a unique way to tailor their exposure to equity markets and make progress on their financial goals.”
The four new BMO funds include:
BMO Canadian Banks Accelerator ETF (ZEBA) – Aims to provide income and approximately double the price return of an index containing equity securities of Canadian banks up to a cap, with approximately single exposure to downside. The fund’s cap will reset at the end of the Target Outcome Period, approximately every quarter.
BMO US Equity Accelerator Hedged to CAD ETF (ZUEA) – Seeks to provide income and approximately double the price return of an index measuring the large-cap segment of the US equity market, with single exposure to the downside. The fund’s cap will reset at the end of the Target Outcome Period, approximately every quarter.
BMO US Equity Buffer Hedged to CAD ETF – October (ZOCT) – Seeks to match the income and appreciation that matches, to the extent possible, the return of an index measuring the large-cap segment of the US equity market to an upside cap, while providing protection against the first 15% (before fees, taxes and expenses) of a decrease in the market price of the reference index. The fund resets after the end of the Target Outcome Period of approximately a year each October.
BMO Global Dividend Opportunities Fund (BGDV) – Seeks to increase the value of the investment over the long term by investing primarily in equity securities of companies from around the world that pay dividends or that are expected to pay dividends.
Investors can trade units of the funds described above through their usual investment channels, including discount brokerage platforms and full-service dealers. Click here for a complete view of all Cboe-listed securities.
“We are honoured that BMO has chosen once again to partner with Cboe Canada for the launch of their new funds. These listings are yet another example of financial innovation democratizing investment strategies that were previously available to only a few” remarked Jos Schmitt, President and CEO of Cboe Canada. “We look forward to furthering our relationship with BMO and providing them with the excellent service and support we have built our name on.”
Cboe Canada is home to over 250 unique listings, including ETFs from Canada’s largest ETF issuers, Canadian Depositary ReceiptsTM (CDRs), and some of the most innovative Canadian and international growth companies. In Canada, Cboe consistently facilitates more than 20% of all volume traded in Canadian ETFs and over 15% of all volume traded in Canadian-listed companies.
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About Cboe Canada
Cboe Canada, the new business name of the NEO Exchange, is Canada’s Tier 1 stock exchange for the purpose-driven Innovation Economy, providing a best-in-class listing experience for issuers that are shaping the economies of tomorrow. Fully operational since 2015, Cboe Canada lists investment products and companies seeking an internationally recognized stock exchange that enables investor trust, quality liquidity, and broad awareness including unfettered access to market data.
Cboe Canada is part of the Cboe Global Markets network, leveraging deep international expertise, industry-leading market intelligence and technology, and unparalleled service to deliver what stakeholders and the world need now, and for the future. Cboe Canada is an affiliate of Cboe MATCHNow.
Cboe powers ETF Market Canada, a user-friendly platform providing investors and advisors with one-stop access to ETF research and analysis. Real-time, institutional-grade data allows users to compare, contrast, and explore the entire universe of 1,200+ Canadian ETFs, free of charge.
About BMO Exchange Traded Funds (ETFs)
BMO Exchange Traded Funds has been an ETF provider in Canada for more than 12 years, with over 100 strategies, over 25 per cent market share in Canada1, and $87.7 billion in assets under management. BMO ETFs are designed to stay ahead of market trends and provide compelling solutions to help advisors and investors. This includes a comprehensive suite of ETFs developed in Canada for Canadians, such as cost-effective core equity ETFs following market leading indexes, and a broad range of fixed income ETFs; solution-based ETFs responding to client demand; and innovation with smart beta ETFs, as well as combining active and passive investing with ETF series of active mutual funds.
1 Morningstar, December 2022
About BMO Financial Group
BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.25 trillion as of July 31, 2023. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to over 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society.