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Overview

Fund Profile

Key Facts

Fund Ticker ZFH
Net Assets (Mn)
(Feb 25, 2020)
$ 208.58
Base Currency CAD
Closing Market Price $ 15.51
12-Month Low/High (Market Price) $ 15.14 / $ 15.89
Closing NAV Price
(Feb 25, 2020)
$ 15.4807
12-Month Low/High (Price (NAV)) $ 15.1830 / $ 15.8453
Weighted Average Term (Years) 4.68
Weighted Average Coupon (%) 4.84%
Annualized Distribution Yield
(Feb 21, 2020)

Annualized Distribution Yield: The most recent regular distribution, or expected distribution, (excluding additional year end distributions) annualized for frequency, divided by current NAV.

4.42%
Weighted Average Yield to Maturity (%)

Weighted Average Yield to Maturity: The market value weighted average yield to maturity includes the coupon payments and any capital gain or loss that the investor will realize by holding the bonds to maturity.

4.42%
Weighted Average Duration (Years) 0.24
Maximum Annual Management Fee 0.40%
Management Expense Ratio 0.45%
Market Volume 119,417
Distribution Frequency Monthly
Options Available No
Inception Date Feb 10, 2014
Fiscal Year-End December 31
Units Outstanding (000's) 13,474
Index -
Exchange TSX
CUSIP 05579G104
Eligibility RRSP/RRIF/RESP/DPSP/TFSA

Portfolio Objective

BMO Floating Rate High Yield ETF provides exposure to high yield credit with minimal duration risks. The Fund invests in Canadian short term bonds to minimize interest rate risk and currency risk. To enhance the yield, the Fund gains exposure to a diversified basket of US high yield (non-investment grade) issuers through the use of credit default swaps (CDS). Exposure through CDS provides the fund with several benefits, including central clearing, liquidity, pricing transparency, counterparty assurance, and regulatory oversight.

Fund Benefits

  • Designed for investors looking for higher income
  • Invested in Canadian federal bonds with an average of less than 90 days to maturity and exposed to a diversified portfolio of U.S. high yield corporate bond issuers
  • Professionally managed by BMO Global Asset Management

Risk Rating

  • Low
  • Low to Medium
  • Medium
  • Medium to High
  • High

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Price & Performance

Performance Chart

Growth of 10,000

Performance Details

Fund Total Assets ($Mn)
(Feb 25, 2020)
$ 208.58
Market Price $ 15.51
12-Month Low/High (Market Price) $ 15.14 / $ 15.89
Price (NAV) $ 15.4807
12-Month Low/High (Price (NAV)) $ 15.1830 / $ 15.8453
Distribution Frequency Monthly

Daily Prices

Unit Price as of
(Feb 25, 2020)
1 Day Change 1 Day % Change
Market Price $ 15.51 $ -0.11 -0.70%
Price (NAV) $ 15.4807 $ -0.0820 -0.53%

Performance

Annualized Performance

Annualized Performance (%) for period ending: Jan 31, 2020

1 Year 2 Year 3 Year 5 Year 10 Year Since Inception
NAV 7.02% 5.44% 5.56% 5.75% - 5.37%
Index - - - - - -
Calendar Performance

Calendar Year Performance (%) for period ending: Jan 31, 2020

YTD 2019 2018 2017 2016 2015 2014
NAV -0.57% 11.10% 0.92% 5.46% 11.00% 1.54% 3.16%
Index - - - - - - -
Cumulative Performance

Cumulative Performance (%) for period ending: Jan 31, 2020

YTD 1 mo 3 Mo 6 Mo 1 Year 2 Year 3 Year 5 Year 10 Year Since Inception
NAV -0.57% -0.57% 1.52% 3.11% 7.02% 11.17% 17.63% 32.26% - 36.72%
Index - - - - - - - - - -

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Tax & Distributions

Distribution History

Each BMO ETF will distribute net taxable income to investors at least once a year. A BMO ETF will have taxable income if the income generated (for example interest, dividend, capital gains, etc.) by the securities within the BMO ETF is greater than the expenses of the BMO ETF. The distributions will either be paid in cash or reinvested in the BMO ETF at the discretion of the manager. The future distribution dates for BMO ETFs may change at any time and whether or not a distribution occurs will depend on the tax characteristics of the underlying investments.

The following table lists historical distributions and includes information about the frequency dollar value and tax composition of the distribution. The tax composition of the BMO ETF distribution will be determined on a yearly basis and will only be available after the BMO ETFs tax year. This information will be reported in an official tax receipt provided to investors by their broker.

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Distribution Period

Future distribution dates may change without any prior notice.

Ex-Dividend Date Record Date Pay Date Cash Distribution Per Unit Reinvested Distribution Per Unit

Distributions by the BMO ETF that are not paid in cash should be accounted for by investors for tax purposes by adding the distribution amount to the adjusted cost base of the units held.

Total Distribution Per Unit
Jan, 2020 Jan 29, 2020 Jan 30, 2020 Feb 04, 2020 0.055000 0.000000 0.055000
Feb, 2020 Feb 26, 2020 Feb 27, 2020 Mar 03, 2020 0.058000 0.000000 0.058000
Mar, 2020 Mar 27, 2020 Mar 30, 2020 Apr 02, 2020 - - -
Apr, 2020 Apr 28, 2020 Apr 29, 2020 May 04, 2020 - - -
May, 2020 May 27, 2020 May 28, 2020 Jun 02, 2020 - - -
Jun, 2020 Jun 26, 2020 Jun 29, 2020 Jul 06, 2020 - - -
Jul, 2020 Jul 29, 2020 Jul 30, 2020 Aug 05, 2020 - - -
Aug, 2020 Aug 27, 2020 Aug 28, 2020 Sep 02, 2020 - - -
Sep, 2020 Sep 28, 2020 Sep 29, 2020 Oct 02, 2020 - - -
Oct, 2020 Oct 28, 2020 Oct 29, 2020 Nov 03, 2020 - - -
Nov, 2020 Nov 26, 2020 Nov 30, 2020 Dec 02, 2020 - - -
Dec, 2020 Dec 29, 2020 Dec 30, 2020 Jan 05, 2021 - - -
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Distribution Period Eligible Dividends Non Eligible Dividends Other Income Capital Gains Return of Capital Foreign Income Foreign Tax Paid Total Distribution per Unit for Tax Purpose

The exact tax treatment of the distributions for a calendar year is calculated after the BMO ETF's tax year-end. As a result investors will receive an official tax statement from their broker detailing the type of income they have to report for tax purposes for the entire year and not for each distribution.

- - - - - - - - -

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Holdings & Allocations

Daily Holdings

As of Feb 25, 2020

Fixed Income

7.01%

Cash and Cash Equivalents

92.99%

Number of Holdings

18

Total Net Assets

$ 208,581,670.00


Download Holdings (Excel)
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Weight (%) Name ISIN Par Value Currency Coupon Maturity Base Market Value Sector Asset Class
46.23% CANADA T BILL 19Mar2020 CA1350Z75Q31 96,520,000 CAD 0.01 03/19/2020 96,424,811 - Cash and Cash Equivalents
30.49% S1008904 CDS USD R F 5.00000 - 44,426,250 USD 5.00 09/20/2024 63,606,531 - Fixed Income
30.49% S1008903 CDS USD R F 5.00000 - 44,426,250 USD 5.00 12/20/2024 63,606,531 - Fixed Income
29.90% CANADA T BILL 20Aug2020 CA1350Z75N00 62,850,000 CAD 0.01 08/20/2020 62,359,199 - Cash and Cash Equivalents
21.99% CANADA T BILL 11Jun2020 CA1350Z76D19 46,100,000 CAD 0.01 06/11/2020 45,877,235 - Cash and Cash Equivalents
21.75% S1232206 CDS USD R F 5.00000 - 31,680,000 USD 5.00 12/20/2024 45,358,434 - Fixed Income
8.83% S1232518 CDS USD R F 5.00000 - 12,870,000 USD 5.00 12/20/2024 18,428,016 - Fixed Income
3.40% S1266407 CDS USD R F 5.00000 - 4,950,000 USD 5.00 12/20/2024 7,087,444 - Fixed Income
1.70% S1030579 CDS USD R F 5.00000 - 2,475,000 USD 5.00 09/20/2024 3,543,539 - Fixed Income
1.36% S1043844 CDS USD R F 5.00000 - 1,980,000 USD 5.00 09/20/2024 2,834,832 - Fixed Income
-1.26% S1043844 CDS USD P V 03MEVENT - -1,980,000 USD 1.00 09/20/2024 -2,632,113 - Fixed Income
-1.58% S1030579 CDS USD P V 03MEVENT - -2,475,000 USD 1.00 09/20/2024 -3,290,141 - Fixed Income
-3.15% S1266407 CDS USD P V 03MEVENT - -4,950,000 USD 1.00 12/20/2024 -6,580,282 - Fixed Income
-8.20% S1232518 CDS USD P V 03MEVENT - -12,870,000 USD 1.00 12/20/2024 -17,108,734 - Fixed Income
-20.19% S1232206 CDS USD P V 03MEVENT - -31,680,000 USD 1.00 12/20/2024 -42,113,808 - Fixed Income
-28.31% S1008904 CDS USD P V 03MEVENT - -44,426,250 USD 1.00 09/20/2024 -59,058,035 - Fixed Income
-28.31% S1008903 CDS USD P V 03MEVENT - -44,426,250 USD 1.00 12/20/2024 -59,058,035 - Fixed Income
-5.13% CASH - 1 CAD - - -10,703,768 - Cash and Cash Equivalents

Holdings Breakdown

Sector Allocation

Geographic Allocation

Credit Allocation

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