BMO Short Provincial Bond Index ETF (ZPS:CA)
The BMO Short Provincial Bond Index ETF has been designed to replicate, to the extent possible, the performance of the FTSE TMX Canada Short Term Provincial Bond Index, net of expenses. The Fund invests in a variety of debt securities primarily with a term to maturity between one and five years. Securities held in the Index are generally issued or guaranteed by the Provincial Governments in Canada, by various agencies of the Provincial Governments, and by various instrumentalities that have been established or sponsored by Provincial Governments.
The FTSE TMX Canada Short Term Provincial Bond Index consists of semi-annual pay fixed rate provincial bonds denominated in Canadian dollars, with an effective term to maturity less than five years but greater than one year, a credit rating of BBB or higher and minimum size requirement of $50 million per issue. The provincial sector consists of bonds issued by Canadian provinces and provincial or territorial corporations, incorporated under their respective jurisdiction. Each security in the index is weighted by its relative market capitalization and rebalanced on a daily basis.
IFM Investment Tip:
This ETF is a much better BMO option than the BMO Aggregate Bond Index ETF. Distributions include a smaller proportion of Return of Capital and it is not a fund of funds.
- Fact Sheet
- TMX Money ETF Screener
- Morningstar ETF Screener
- Underlying Index/Commodity
- FTSE TMX Canada Short Term Provincial Bond Index
- Asset Category
- Fixed Income Investments
- Average Duration
- 2.90 Years (September 30, 2016)
- Average Maturity
- 3.10 Years (September 30, 2016)
- Date Established
- October 20, 2009
- Annual Management Fee
- 0.25% plus 0.03% Operating Expenses (2016)
- Trading Expense Ratio (TER)
- 0.00% (2016)
- Management Expense Ratio (MER)
- 0.28% (2016)
- Additional Performance Fee(s)
- Yes - In 2016, the ETF had a yield equal to 2.96% 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
- Portfolio Turnover Ratio
- Was 89.79% in 2016, 48.61% in 2015, 51.86% in 2014, 41.08% in 2012, 17.76% in 2011 & 55.42% in 2010.
- Simplified Prospectus
- Last Updated