BMO MSCI India Selection Equity Index ETF
ZID.TO
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- BMO MSCI India ESG Leaders Index ETF (ZID.TO) is an exchange-traded fund managed by BMO Asset Management Inc. that seeks to replicate, to the extent possible, the performance of the MSCI India ESG Leaders Index, net of expenses; this ESG-focused broad Indian equity markets index targets large- and mid-capitalization companies in India with higher environmental, social, and governance (ESG) ratings relative to sector peers, excluding firms deriving significant revenue from tobacco, alcohol, gambling, controversial weapons, nuclear power, or unconventional oil and gas, as well as those involved in severe controversies. The ETF invests in and holds the index's constituent securities, such as leading holdings including HDFC Bank Limited, Reliance Industries Limited, Infosys Limited, Mahindra & Mahindra Limited, and Axis Bank Limited, in similar proportions or through a sampling methodology; sector allocations emphasize financial services (approximately 28%), consumer goods (19%), energy (16%), technology (11%), and basic materials (8%), with nearly all assets (99.94%) in international equities domiciled in Asia, primarily India. It provides investors with targeted exposure to India's equity market, supported by the country's strong domestic economy, burgeoning middle class, above-average growth rates, and institutional frameworks attractive to Western investors; the ETF is listed on the Toronto Stock Exchange, with units traded in Canadian dollars, a management expense ratio of 0.68%, and total assets under management of approximately C$231 million as of late 2025. Founded on January 19, 2010, and headquartered in Toronto, Ontario at BMO Asset Management Inc., 250 Yonge Street, the ETF initially tracked the BNY Mellon India Select DR Index (CAD Hedged), transitioned to the unhedged BNY Mellon India Select DR Index on September 28, 2012, and underwent a significant strategic shift on December 13, 2021, when it adopted its current ESG-focused investment objective aligned with the MSCI India ESG Leaders Index, accompanied by a reduction in the annual management fee from 0.65% to 0.60%; the investment risk rating was adjusted from "high" to "medium to high" effective January 17, 2022. In November 2025, BMO announced an estimated annual reinvested distribution of C$2.142 per unit for ZID.TO and a cash distribution for the month, reflecting ongoing commitment to unitholder returns amid resilient Indian market performance; the ETF continues to exhibit quarterly rebalancing in line with the index methodology, which caps single-issuer weights at 15% and aggregate weights above 4.5% at 45% where applicable.