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Mutual Funds

BMO Fixed Income ETF Portfolio - Series T6

Overview

Growth of $10,000e

Growth of $10,000 Chart

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Fund Details

Price (NAV) (2025-06-13)
$5.6627
Inception Date
Nov 4, 2013
Management Expense Ratio (MER)
1.01%
Distribution Frequency
Monthly
Category
Global Core Plus Fixed Income
Risk Rating
Low
Portfolio Manager
Steven Shepherd, Sadiq S. Adatia

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Under the Hood

Annual Compound Returns (%)

as of May 31, 2025

Calendar Year Returns (%)

since Dec 31, 2015

Top Holdingsf

as of May 31, 2025

Portfolio Metrics

Portfolio Yielda
0.04%
Average Duration (Yrs)b
7.14

Standard Deviation**

as of May 31, 2025

Distributions

Distribution Date
May 28, 2025
Distribution Amount
$0.0286
Reinvestment Price
$5.6550
Distribution Frequency*
Monthly

Historical Distributions Table

Asset Allocation

Fixed Income99.2%Cash0.8%Equity0%

Geographic Allocation

Canada41.4%United States39.5%United Kingdom1.6%Brazil1.1%Mexico1%China1%Indonesia1%Saudi Arabia0.9%Turkey0.9%Japan0.8%

Industry Type Allocation

Corporate Notes/Bonds65.1%Govt. Agency Notes/Bonds21.3%Municipal Bonds6.5%Fixed Income Other3.5%MBS2.6%ABS0.1%Treasuries0%

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Why Invest?

  • For investors looking for a fixed income portfolio solution
  • Diversified portfolio of ETFs combined in an easy to use, all-in-one solution
  • Professionally managed by BMO's Multi-Asset Solutions Team

PM Commentary

  • The first quarter of 2025 (the “quarter”) has been marked with a radical shifting of global trade policy, international security alignments, and heightened political divide. The market impacts have been profound, with heightened volatility and corrections across most risk assets.
  • The Bank of Canada (“BoC”) delivered 150 basis points in cuts during the quarter amid slowing economic growth and trade uncertainty that could further hurt Canadian economic activity. Yields shifted down and the government yield curve steepened.
  • Canadian equities were volatile during the quarter, reaching all-time highs given optimism around President Trump’s economic agenda but quickly reversing amid tariff uncertainty disproportionately hitting Canada’s export sector. Investors sold equities to pare back risks as they awaited tariff announcements. The S&P/TSX Composite Index, a broad-based index of Canadian stocks was up. Materials was the best-performing sector, while Communication Services was the worst-performing sector.
  • International equities were volatile, with European equities quickly gaining momentum in the first quarter of 2025 as sentiment soured in the U.S. Germany’s newly elected government approved a historic spending plan that would boost its economic growth. As a result, we saw the widest performance gap in U.S. versus European stocks in decades.
  • In the BMO ETF Portfolios, equity exposures have been reduced to neutral, mostly through neutralization of the prior U.S. equity overweight, eliminating our Nasdaq exposure and reducing our core S&P500 holdings.
  • In addition, we have been maintaining protective put options (“puts” allow an investor to sell a security at a predetermined price) on both U.S. and Canadian equities, resulting in an effective underweight of equities.
  • Conversely, we have been increasing our exposure to core Canadian bonds, both through the passive index ETF (BMO Aggregate Bond Index ETF - ZAG) and our active fixed income team’s BMO Core Plus Bond Fund.
  • Performance over the quarter was generally flat to positive, with the Equity Growth profile the only one returning slightly negative performance.

** An annualized statistical measure of risk of a fund’s performance around its average. It is calculated based on a fund’s monthly returns over a specified time period. The greater the standard deviation, the greater the fund’s volatility.

a It is the most recent income received by the fund in the form of dividends, interest and other income annualized based on the payment frequency, divided by the current market value of the fund’s investments. It is gross of any fees or expenses of the fund.

b A measure of sensitivity of bond prices to changes in interest rates. Generally, the higher the duration the more volatile the bond’s price will be when interest rates change.

c Front End = Sales Charge.

d DSC closed to new purchase. As of November 2020, LL no longer available for sale.

e The graph illustrates the impact to an initial investment of $10,000 from the fund's inception date to the as of date indicated. It is not intended to reflect future returns on investments in the fund. The performance is net of fees and assumes the reinvestment of all distributions.

f The portfolio holdings are subject to change without notice and may only represent a small percentage of portfolio holdings. They are not recommendations to buy or sell any particular security.

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Commissions, trailing commissions (if applicable), management fees and expenses all may be associated with mutual fund investments. Please read the ETF facts, fund facts or prospectus of the relevant mutual fund before investing. Mutual 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 Mutual Funds, please see the specific risks set out in the prospectus. ETF Series of the BMO Mutual 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.

Distribution yields are calculated by using the most recent regular distribution, or expected distribution, (which may be based on income, dividends, return of capital, and option premiums, as applicable) and excluding additional year end distributions, and special reinvested distributions annualized for frequency, divided by current net asset value (NAV). Distributions are not guaranteed, may fluctuate and are subject to change and/or elimination. Distribution rates may change without notice (up or down) depending on market conditions and net asset value (NAV) fluctuations. The payment of distributions should not be confused with a BMO Mutual Fund’s performance, rate of return or yield. If distributions paid by a BMO Mutual Fund are greater than the performance of the investment fund, your original investment will shrink. Distributions paid as a result of capital gains realized by a BMO Mutual Fund, and income and dividends earned by a BMO Mutual Fund, are taxable in your hands in the year they are paid. Your adjusted cost base will be reduced by the amount of any returns of capital. If your adjusted cost base goes below zero, you will have to pay capital gains tax on the amount below zero.

Distributions, if any, for all series of securities of a BMO Mutual Fund (other than ETF Series) are automatically reinvested in additional securities of the same series of the applicable BMO Mutual Fund, unless the securityholder elects in writing that they prefer to receive cash distributions. For further information, see the distribution policy for the applicable BMO Mutual Fund in the simplified prospectus.

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