BMO S&P/TSX Equal Weight Banks Index ETF (ZEB:CA)
BMO S&P/TSX Equal Weight Banks Index ETF has been designed to replicate, to the extent possible, the performance of the S&P/TSX Equal Weight Diversified Banks Index, net of expenses. The Fund invests in and holds the Constituent Securities of the Index in the same proportion as they are reflected in the Index.
The S&P/TSX Equal Weight Diversified Banks Index includes commercial banks whose businesses are derived primarily from commercial lending operations and have significant business activity in retail banking and small and medium enterprise corporate lending. The Index is a subset of the S&P/TSX Composite Index, but each constituent security is allocated a fixed weight rather than a market capitalization weight.
IMF Investment Tip:
This ETF makes monthly distributions to unit holders, a portion of which is a return of the investor's own capital, not earned income. This inflates the ETF's Yield and makes a comparison of its income yield with those of other ETFs difficult.
Also the ETF has an extremely high Portfolio Turnover Ratio (PTR) which indicates that the managers are active traders.
- Fact Sheet
- TMX Money ETF Screener
- Morningstar ETF Screener
- Underlying Index/Commodity
- S&P/TSX Equal Weight Diversified Banks Index
- Asset Category
- Growth Investments
- Average Duration
- Average Maturity
- Date Established
- October 20, 2009
- Annual Management Fee
- 0.55% plus 0.07% in Operating Expenses (2016)
- Trading Expense Ratio (TER)
- 0.00% (2016)
- Management Expense Ratio (MER)
- 0.62% (2016)
- Additional Performance Fee(s)
- Yes - In 2016, the ETF had a yield equal to 3.89% net of Return of Capital (ROC) payments.
- Distribution Dates
- Monthly - toward the beginning of each month.
- Distribution Details
- Dividend Reinvestment Plan (DRIP)
- Yes Visit ETF Website for details
- Rebalancing Frequency
- Index is rebalanced quarterly in March, June, September and December
- Portfolio Turnover Ratio
- Was 114.97% in 2016, 85.19% in 2015, 133.91% in 2014, 85.29% in 2013, 34.53% in 2012, 19.72% in 2011 & 20.72% in 2010
- Simplified Prospectus
- Last Updated