BMO Global Consumer Staples Hedged to CAD Index ETF
STPL.TO
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- BMO Global Consumer Staples Hedged to CAD Index ETF (STPL.TO) is an exchange-traded fund that seeks to replicate, to the extent possible, the performance of the FTSE Developed ex Korea Consumer Staples Capped 100% Hedged to CAD Index (formerly referenced as the Russell Developed Large Cap Consumer Staples Capped 100% Hedged to CAD Index), net of expenses. The ETF invests directly and through derivatives in a portfolio of global large- and mid-cap equities classified as consumer staples under the FTSE Russell Industry Classification Benchmark system from developed markets excluding Korea, with foreign currency exposure fully hedged to the Canadian dollar; its core holdings include leading companies such as Procter & Gamble Co. (10.0%), Coca-Cola Co. (7.2%), Nestle S.A. (6.4%), PepsiCo Inc. (6.2%), Philip Morris International Inc. (5.5%), Unilever PLC (4.3%), and others spanning subsectors like packaged foods and meats, household products, soft drinks and non-alcoholic beverages, tobacco, food retail, personal care products, distillers and vintners, brewers, and health care distributors. Launched on April 3, 2017 and managed by BMO Asset Management Inc., a wholly-owned indirect subsidiary of Bank of Montreal and based at First Canadian Place, 100 King Street West, Toronto, Ontario, the ETF trades on the Toronto Stock Exchange under the ticker STPL in Canadian dollars, targets investors seeking defensive equity growth with minimized foreign exchange risk, and maintains a management expense ratio of 0.40% as of June 30, 2024. As of December 31, 2024, the ETF held 140 investments with total net assets of $36.7 million, a geographic allocation led by the United States (59.2%), United Kingdom (12.9%), Switzerland (7.9%), and Japan (7.8%), and quarterly distributions comprising net investment income, dividends, capital gains, and return of capital. Recent developments include a risk rating adjustment from medium to low-to-medium on January 17, 2024 following the Manager's annual review under National Instrument 81-102, a dividend adjustment to CAD 0.13 per unit, and portfolio turnover of 39.85% for the year ended December 31, 2024, reflecting active management to track the benchmark amid sector-specific challenges like input cost volatility.