Brighten Up Your Cash Flow with ZWGD²

BMO Covered Call Spread Gold Bullion ETF – ZWGD

Management Fee: 0.65%

Risk Rating¹: Medium

Combine the beauty of gold with the benefit of monthly cash flows. ZWGD offers monthly cash flow with the foundational strength of physical gold. With ZWGD investors can get exposure to gold and keep all the traditional benefits of diversification, inflation hedging and return potential, with monthly cash flow.

Key Highlights:

• Cash Flow²: Regular monthly cash flow from a gold bullion ETF.
• Maintain Upside Potential: ZWGD is uniquely designed to generate cash flow while maintaining some potential for upside exposure.
• Diversification: Gold bullion tends to have a lower correlation to traditional asset classes like stocks and bonds historically³.
  
• Shield Against Currency and Inflation Risk: Gold tends to retain its value when currencies weaken, and inflation rises which makes gold a popular asset class for investors.
  
• Return Potential: gold historically shines in volatile times³ – driven by flows, strong momentum and global demand.

BMO Covered Call Spread Gold Bullion ETF – Whitepaper

Leveraging the Strength and Insights of BMO Capital Markets

Brian Belski is the Chief Investment Strategist at BMO Capital Markets, where he leads the firm’s investment strategy group. Known for his accurate market calls and deep macro insight, Brian is a go-to expert for business media. He manages a team overseeing more than $10 billion in AUM.⁴

• Reliable: Brian’s views are regularly sought by CNBC, Fox Business News, Bloomberg and BNN.
• Experience: 35 years of experience investing on both Bay Street and Wall Street.
• Bench Strength: Leverages the research of BMO Capital Markets.

Highlights:

• 2012: US market forecast within 1 basis point⁵
• 2014: US market forecast within 9 basis points⁵
• 2016: Canadian market forecast within 13 basis points⁵
• 2019: Canadian market forecast within 63 basis points⁵

Sector Investing Just Got Easier for Canadians

BMO Asset Management Inc. has expanded its line-up of sector ETFs by adding a full suite of 11 BMO SPDR Select Sector Index ETFs. For the first time Canadian investors can access all 11 Global Industry Classification Standard System (‘GICS’) sectors of the S&P 500 in both unhedged and hedged to CAD (.F).

Key Points:

• Choose Your Currency Exposure: The unhedged and hedged to CAD (.F) ETFs empower investors to either gain or reduce U.S dollar exposure.
• Save on Currency Conversion Costs: Investors with Canadian dollars no longer need to convert to U.S dollars to get access to GICS Sector ETFs.
• Mitigate Tax Friction: Investing in Canadian-listed ETFs allows Canadians to manage the potential impact of U.S. tax issues and filing.¹
• A Powerful Portfolio Construction Tool: Ability to take advantage of tactical opportunities, manage risk, or align a portfolio to an economic viewpoint.
• More Diversification: Reduce single stock concentration and gain exposure to an entire sector in one single trade. 
• Management Fee: 0.19%
• For more information please see our BMO SPDR Select Sector Index ETFs Brochure.

Access the U.S. Market How You Want to Access it
Available in Hedged to CAD (.F) or Unhedged

AAA CLOs - The Top of the Waterfall

As Canada’s largest fixed income ETF provider², BMO Exchange Traded Funds is now offering the BMO AAA CLO ETF! AAA Collateralized Loan Obligation (CLO) tranches are the most stable within the CLO structure because they are entitled to the highest claim on cash flow distributions in the event of default.

The BMO AAA CLO ETF offers investors exposure to a carefully curated portfolio of top-tier, AAA-rated CLO tranches³ - delivering diversified, high-quality credit exposure with a focus on seeking income and capital preservation.

Benefits of Holding the BMO AAA CLO ETF

• Underlying CLOs Provide Attractive Cashflow
  CLOs often provide higher yields compared to traditional high yield bonds.⁴ The BMO AAA CLO ETF has a monthly distribution frequency.*
• Diversification
  CLO ETFs provide exposure to a distinct asset class that is less correlated with traditional fixed-income securities, enhancing portfolio diversification.
  
• Access to Institutional-Grade Investments
  ETFs allow investors access to AAA CLOs, a market historically dominated by institutional investors.
  
• Floating Rate
  CLO tranches have a floating interest rate tied to benchmarks of overnight rates which reset periodically making them an effective hedge against the movement of interest rates.
  
• Low Default Rates
  There have historically been zero defaults on AAA tranches through the 30-year history of CLOs.⁴
  
• Liquidity and Transparency
  ETFs offer a more liquid way to invest in CLOs compared to purchasing individual tranches directly, which can be illiquid and complex. ETFs also provide daily pricing and greater transparency.

Target Your Fixed Income ETFs with Precision

As Canada’s largest fixed income ETF provider¹, BMO Exchange Traded Funds is now offering Target Maturity Bond ETFs! Whether the goal is cashflow generation, education funding, or purchasing a home, BMO’s Target Canadian Corporate Bond ETFs provide more yield to maturity (YTM)² certainty to help investors meet their financial objectives³.

^*Internal Rate of Return Source: BMO GAM as of April 25, 2025.

Get the Precision of a Bond, with the Liquidity and Diversification of an ETF!

Important Key Points:

• ETFs with an Individual Bond Like Experience – These ETFs are designed to act like an individual bond with a defined maturity and the reduction of duration risk² over time.
• Not Your Typical Target Maturity Bond ETF – Unlike traditional target maturity ETFs, the goal of these ETFs is to not transition into cash in the year of maturity to manage performance and YTM outcome expectations.
• Get More YTM Certainty – These ETFs hold a static portfolio and will not rebalance providing greater yield certainty for investors upon maturity.
• Personal Goal Setting – Similar to holding an individual bond, investors can have the ability to match the ETFs’ maturity dates with their investment time horizons.
• Management Fee of Only 0.15% – The consideration of fees in your investment decision making process is important as fees can impact overall performance.
• Risk² Rating – Low
• To learn more about BMO’s New Approach to Target Maturity Bond ETFs please visit our:
  Target Your Fixed Income ETFs with Precision PDF
  FAQs PDF
  Video

Footnotes - Brighten Up Your Cash Flow with ZWGD & Leveraging the Strength and Insights of BMO Capital Markets

¹ 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. Histori- cal volatility doesn’t tell you how volatile an ETF will be in the future. An ETF with a risk rating of ​“low” can still lose money. For more informa- tion about the risk rating and specific risks that can affect an ETF’s returns, see the BMO ETFs’ simplified prospectus.

² Distributions are not guaranteed and are subject to change and/​or elimination.

³ Source: Bloomberg April 30, 2025.

⁴ Source: BMO Global Asset Management, as of April 2025.

⁵ Source: BMO Capital Markets. Past performance is not indicative of future results.

Footnotes - BMO SPDR Select Sector Index ETFs

¹Source: Tax Issues, U.S. Investing and Your Clients. As of January 31^st 2025.

Footnotes - AAA CLOs - The Top of the Waterfall

¹All 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 doesn’t tell you 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 an ETF’s returns, see the BMO ETFs’ simplified prospectus.

²Source: Bloomberg March 31^st 2025.

³AAA herein refers to the order of payments, should there be any defaults, and does not represent the ratings of the underlying loans within the CLO.

⁴Source: Bloomberg, as of December 31, 2024.

Footnotes - Target Your Fixed Income ETFs with Precision

¹ Source: Bloomberg February 28, 2025.

²Yield to maturity (YTM): The total expected return from a bond when it is held until maturity – including all interest, coupon payments, and premium or discount adjustments.

³Duration & Duration Risk: A measure of the sensitivity of the price of a fixed income investment to a change in interest rates. Duration is expressed as number of years. The price of a bond with a longer duration would be expected to rise (fall) more than the price of a bond with lower duration when interest rates fall (rise). Essentially, duration estimates the percentage change in a bond’s price for a change in interest rates. This sensitivity is what constitutes the risk: as interest rates rise, bond prices fall, and vice versa.