- For the first time in Canada, investors can access all 11 Global
Industry Classification Standard System sectors of the S&P 500
in both unhedged and hedged units on a Canadian exchange allowing
for greater portfolio customization
TORONTO, Feb. 6, 2025
/CNW/ - BMO Asset Management Inc. ("BMOAM Inc."), the manager of
the BMO ETFs, today announced the launch of the new BMO SPDR Select
Sector Index ETFs.
The new funds simplify sector investing and offer investors more
ways to adjust their strategic asset allocation to take advantage
of tactical opportunities based on their investment objectives. For
the first time in Canada,
investors can access all 11 Global Industry Classification Standard
System sectors of the S&P 500 in both unhedged and hedged units
on a Canadian exchange.
Each of the BMO SPDR Select Sector Index ETFs has closed its
initial offering of series ETF units and series ETFH units. Each
BMO SPDR Select Sector Index ETF is listed and will begin trading
on the Toronto Stock Exchange today. The new ETFs include:
- BMO SPDR Communication Services Select Sector Index ETF
- BMO SPDR Consumer Discretionary Select Sector Index ETF
- BMO SPDR Consumer Staples Select Sector Index ETF
- BMO SPDR Energy Select Sector Index ETF
- BMO SPDR Financials Select Sector Index ETF
- BMO SPDR Health Care Select Sector Index ETF
- BMO SPDR Industrials Select Sector Index ETF
- BMO SPDR Materials Select Sector Index ETF
- BMO SPDR Real Estate Select Sector Index ETF
- BMO SPDR Technology Select Sector Index ETF
- BMO SPDR Utilities Select Sector Index ETF
The new BMO SPDR Select Sector Index ETFs are available in both
hedged and unhedged versions, empowering investors to cost
effectively gain or reduce U.S. dollar exposure.
"We are excited to launch our new BMO SPDR Select Sector Index
ETFs and offer Canadian investors an efficient way to strengthen
their portfolios and access U.S. markets," said Bipan Rai, Head of ETF Strategy, BMO Global
Asset Management. "In addition to offering a way to gain exposure
to some of the most popular names and large-cap companies on the
S&P 500, the hedged version units of the new BMO SPDR Select
Sector Index ETFs offer an effective hedge against currency risk.
These new funds bring the best ideas from the team to create
solutions that meet a variety of investor needs."
Sector-based investment strategies can help investors align and
adjust their portfolios based on economic trends, shifts in company
fundamentals or technical indicators such as
momentum.
For further information on the BMO SPDR Select Sector Index
ETFs, click here.
BMO SPDR Communication Services Select Sector Index ETF seeks to
replicate, to the extent possible before fees and expenses, the
performance of an index that provides exposure to equity securities
of large-capitalization issuers in the U.S. communications services
sector. Currently, the index is the Communication Services Select
Sector Index. Generally, BMO SPDR Communication Services Select
Sector Index ETF will invest substantially all of its assets,
directly or indirectly, in The Communication Services Select Sector
SPDR® Fund. However, BMO SPDR Communication Services Select Sector
Index ETF may invest substantially all of its assets, directly or
indirectly, in the index constituents, in substantially the same
proportions as the index constituents are represented in the
index.
BMO SPDR Consumer Discretionary Select Sector Index ETF seeks to
replicate, to the extent possible before fees and expenses, the
performance of an index that provides exposure to equity
securities of large-capitalization issuers in the U.S consumer
discretionary sector. Currently, the index is the Communication
Discretionary Select Sector Index. Generally, BMO SPDR Consumer
Discretionary Select Sector Index ETF will invest substantially all
of its assets, directly or indirectly, in The Consumer
Discretionary Select Sector SPDR® Fund. However, BMO SPDR
Consumer Discretionary Select Sector Index ETF may invest
substantially all of its assets, directly or indirectly, in the
index constituents, in substantially the same proportions as the
index constituents are represented in the index.
BMO SPDR Consumer Staples Select Sector Index ETF seeks to
replicate, to the extent possible before fees and expenses, the
performance of an index that provides exposure to equity
securities of large-capitalization issuers in the U.S consumer
staples sector. Currently, the index is the Consumer Staples Select
Sector Index. Generally, BMO SPDR Consumer Staples Select Sector
Index ETF will invest substantially all of its assets, directly or
indirectly, in The Consumer Staples Select Sector SPDR® Fund.
However, BMO SPDR Consumer Staples Select Sector Index ETF may
invest substantially all of its assets, directly or indirectly, in
the index constituents, in substantially the same proportions as
the index constituents are represented in the index.
BMO SPDR Energy Select Sector Index ETF seeks to replicate, to
the extent possible before fees and expenses, the performance of an
index that provides exposure to equity securities of
large-capitalization issuers in the U.S energy sector. Currently,
the index is the Energy Select Sector Index. Generally, BMO SPDR
Energy Select Sector Index ETF will invest substantially all of its
assets, directly or indirectly, in The Energy Select Sector
SPDR® Fund. However, BMO SPDR Energy Select Sector Index ETF
may invest substantially all of its assets, directly or indirectly,
in the index constituents, in substantially the same proportions as
the index constituents are represented in the index.
BMO SPDR Financials Select Sector Index ETF seeks to replicate,
to the extent possible before fees and expenses, the performance of
an index that provides exposure to equity securities of
large-capitalization issuers in the U.S financials sector.
Currently, the index is the Financial Select Sector Index.
Generally, BMO SPDR Financial Select Sector Index ETF will invest
substantially all of its assets, directly or indirectly, in The
Financial Select Sector SPDR® Fund. However, BMO SPDR
Financial Select Sector Index ETF may invest substantially all of
its assets, directly or indirectly, in the index constituents, in
substantially the same proportions as the index constituents are
represented in the index.
BMO SPDR Health Care Select Sector Index ETF seeks to replicate,
to the extent possible before fees and expenses, the performance of
an index that provides exposure to equity securities of
large-capitalization issuers in the U.S health care sector.
Currently, the index is the Health Care Select Sector Index.
Generally, BMO SPDR Health Care Select Sector Index ETF will invest
substantially all of its assets, directly or indirectly, in The
Health Care Select Sector SPDR® Fund. However, BMO SPDR Health
Care Select Sector Index ETF may invest substantially all of its
assets, directly or indirectly, in the index constituents, in
substantially the same proportions as the index constituents are
represented in the index.
BMO SPDR Industrials Select Sector Index ETF seeks to replicate,
to the extent possible before fees and expenses, the performance of
an index that provides exposure to equity securities of
large-capitalization issuers in the U.S industrials sector.
Currently, the index is the Industrial Select Sector Index.
Generally, BMO SPDR Industrials Select Sector Index ETF will invest
substantially all of its assets, directly or indirectly, in The
Industrial Select Sector SPDR® Fund. However, BMO SPDR
Industrials Select Sector Index ETF may invest substantially all of
its assets, directly or indirectly, in the index constituents, in
substantially the same proportions as the index constituents are
represented in the index.
BMO SPDR Materials Select Sector Index ETF seeks to replicate,
to the extent possible before fees and expenses, the performance of
an index that provides exposure to equity securities of
large-capitalization issuers in the U.S materials sector.
Currently, the index is the Materials Select Sector Index.
Generally, BMO SPDR Materials Select Sector Index ETF will invest
substantially all of its assets, directly or indirectly, in The
Materials Select Sector SPDR® Fund. However, BMO SPDR
Materials Select Sector Index ETF may invest substantially all of
its assets, directly or indirectly, in the index constituents, in
substantially the same proportions as the index constituents are
represented in the index.
BMO SPDR Real Estate Select Sector Index ETF seeks to replicate,
to the extent possible before fees and expenses, the performance of
an index that provides exposure to equity securities of
large-capitalization issuers in the U.S real estate sector.
Currently, the index is the Real Estate Select Sector Index.
Generally, BMO SPDR Real Estate Select Sector Index ETF will invest
substantially all of its assets, directly or indirectly, in The
Real Estate Select Sector SPDR® Fund. However, BMO SPDR Real
Estate Select Sector Index ETF may invest substantially all of its
assets, directly or indirectly, in the index constituents, in
substantially the same proportions as the index constituents are
represented in the index.
BMO SPDR Technology Select Sector Index ETF seeks to replicate,
to the extent possible before fees and expenses, the performance of
an index that provides exposure to equity securities of
large-capitalization issuers in the U.S information technology
sector. Currently, the index is the Technology Select Sector Index.
Generally, BMO SPDR Technology Select Sector Index ETF will invest
substantially all of its assets, directly or indirectly, in The
Technology Select Sector SPDR® Fund. However, BMO SPDR
Technology Select Sector Index ETF may invest substantially all of
its assets, directly or indirectly, in the index constituents, in
substantially the same proportions as the index constituents are
represented in the index.
BMO SPDR Utilities Select Sector Index ETF seeks to replicate,
to the extent possible before fees and expenses, the performance of
an index that provides exposure to equity securities of
large-capitalization issuers in the U.S utilities sector.
Currently, the index is the Utilities Select Sector Index.
Generally, BMO SPDR Utilities Select Sector Index ETF will invest
substantially all of its assets, directly or indirectly, in The
Utilities Select Sector SPDR® Fund. However, BMO SPDR
Utilities Select Sector Index ETF may invest substantially all of
its assets, directly or indirectly, in the index constituents, in
substantially the same proportions as the index constituents are
represented in the index.
Each index is a product of S&P Dow Jones Indices LLC or its
affiliates ("SPDJI"), and has been licensed for use by the Manager.
S&P®, S&P 500®, Select Sector®, SPDR®, US 500, The 500 are
trademarks of S&P Global, Inc. or its affiliates ("S&P")
and Dow Jones® is a registered trademark of Dow Jones Trademark
Holdings LLC ("Dow Jones"), and these trademarks have been licensed
for use by SPDJI and sublicensed for certain purposes by BMOAM Inc.
Each BMO SPDR Select Sector Index ETF is not sponsored, endorsed,
sold or promoted by SPDJI, Dow Jones, S&P, their respective
affiliates, and none of such parties make any representation
regarding the advisability of investing in such product(s) nor do
they have any liability for any errors, omissions, or interruptions
of the Index.
Commissions, management fees and expenses all may be associated
with investments in exchange traded funds. Please read the ETF
Facts or simplified 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 SPDR
Select Sector Index ETFs, please see the specific risks set out in
the simplified prospectus. Exchange-traded 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., which is an
investment fund manager and a portfolio manager, and a separate
legal entity from Bank of Montreal.
"BMO (M-bar roundel symbol)" is a registered trademark of Bank
of Montreal, used under
licence.
About BMO Financial Group
BMO Financial Group is the eighth largest bank in North America by assets, with total assets
of $1.41 trillion as of October 31, 2024. 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.
SOURCE BMO Financial Group
