BMO Ultra Short-Term Bond ETF
ZST.TO
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- BMO Ultra Short-Term Bond ETF (ZST.TO) is an exchange-traded fund launched and managed by BMO Asset Management Inc., a wholly owned subsidiary of Bank of Montreal, that provides exposure to a diversified portfolio of short-term fixed income securities with a remaining effective term to maturity of one year or less or rate reset dates within one year. The ETF primarily invests in investment grade fixed income securities, including corporate bonds, Government of Canada bonds, provincial bonds, and municipal bonds; money market instruments; floating rate notes and floating rate preferred shares subject to rate reset dates no greater than one year and terms no greater than five years; and asset-backed securities such as credit card receivables-backed notes. It may also invest in other ETFs, mutual funds, public investment funds, or derivative instruments to obtain exposure to such debt securities, with portfolio allocations emphasizing financials (approximately 69.5%), real estate (7.3%), communication services (7.0%), and consumer staples (5.3%) as of December 31, 2024. Founded on January 28, 2011 and domiciled in Canada with its registered office at 100 King Street West, Toronto, Ontario, the ETF trades on the Toronto Stock Exchange and targets investors seeking income from low-risk, short-duration Canadian fixed income markets. The ETF maintains a management expense ratio of 0.17%, monthly distributions consisting of net income and/or return of capital, and total net assets of approximately C$3.7 billion as of December 31, 2024. In recent developments, BMO Asset Management continued regular cash distribution announcements for ZST.TO and related ETFs in 2025, including payments for unitholders of record in January, September, and November 2025; the ETF exhibited stable performance with a one-year return of +3.05% and assets growing to C$4.62 billion amid favorable short-term bond market conditions.