BMO GLOBAL ASSET MANAGEMENT
Contact: Daniel Stanley, Managing Director and Head, Institutional Sales & Service
Address: 100 King Street West, Toronto, ON,
M5X 1A1
PH: 416-947-3012
Email: [email protected]
Web: institutional.bmogam.com/ca-en/
Ownership structure: Principals, 100%
Number of investment professionals: 20
Established: 1982 (BMO GAM established 1982; BMO ETFs launched 2009)
Minimum investment for institutions: Negotiable
Minimum subsequent investment for institutions: Negotiable
Management style: Active, strategic beta, traditional index, and others such as factor, smart beta, objective-based, alternative asset classes and alternative strategies
Canadian institutional funds: 224 tickers
Fund assets: Canadian equities, $34,536.6M; US equities, $41,411.5M; global equities, $25,233.4M; emerging markets equities, $2,524.9M; fixed income, $42,461.0M; commodities, $2,022.0M; multi-asset, $1,516.9M; other (money market), $4,760.6M
Total assets managed: $154,466M
Asset flows: Inflows, $17,886M (net flows)
New products planned for 2026: Information relating to funds which are yet to be launched cannot be disclosed. We have recently launched the ETFs below in 2026: BMO Market+ All Country World Equity ETF (ZMPW); BMO Market+ Canadian Equity ETF (ZMPC); BMO Market+ Global Equity ETF (ZMPG); BMO Market+ Low Volatility Global Equity ETF (ZMLG); BMO Market+ U.S. Equity ETF (ZMPU; ZMPU.F – CAD-hedged units; ZMPU.U – USD-denominated units); BMO MSCI Canada IMI High Dividend Yield Index ETF (ZDIV); BMO MSCI EAFE Small-Mid Cap Index ETF (ZESM); BMO MSCI USA Equal Weight Index ETF (ZEQL; ZEQL.F – CAD-hedged units; ZEQL.U – USD-denominated units)
Products launched in 2025: BMO Broad Commodity ETF (ZCOM); BMO Human Capital Factor U.S. ETF (ZHC); BMO AAA CLO ETF (ZAAA; ZAAA.F – CAD-hedged units; ZAAA.U – USD-denominated units); BMO BBB CLO ETF (ZBBZ; ZBBZ.F – CAD-hedged units; ZBBZ.U – USD-denominated units); BMO Canadian Core Plus U.S. Balanced ETF (ZBCB); BMO Canadian Equity Plus ETF (ZBEC); BMO U.S. Large Cap Disciplined Value ETF (ZBVU); BMO U.S. Dividend Growth ETF (ZBDU; ZBDU.F – CAD-hedged units); BMO U.S. Equity Focused ETF (ZBEU; ZBEU.F – CAD-hedged units); BMO Gold Bullion ETF (ZGLD; ZGLD.U – USD-denominated units; ZGLH – CAD-hedged units); BMO SPDR Communication Services Select Sector Index ETF (ZXLC; ZXLC.F – CAD-hedged units); BMO SPDR Consumer Discretionary Select Sector Index ETF (ZXLY; ZXLY.F – CAD-hedged units); BMO SPDR Consumer Staples Select Sector Index ETF (ZXLP; ZXLP.F – CAD-hedged units); BMO SPDR Energy Select Sector Index ETF (ZXLE; ZXLE.F – CAD-hedged units); BMO SPDR Financials Select Sector Index ETF (ZXLF; ZXLF.F – CAD-hedged units); BMO SPDR Health Care Select Sector Index ETF (ZXLV; ZXLV.F – CAD-hedged units); BMO SPDR Industrials Select Sector Index ETF (ZXLI; ZXLI.F – CAD-hedged units); BMO SPDR Materials Select Sector Index ETF (ZXLB; ZXLB.F – CAD-hedged units); BMO SPDR Real Estate Select Sector Index ETF (ZXLR; ZXLR.F – CAD-hedged units); BMO SPDR Technology Select Sector Index ETF (ZXLK; ZXLK.F – CAD-hedged units); BMO SPDR Utilities Select Sector Index ETF (ZXLU; ZXLU.F – CAD-hedged units)
Benchmarks tracked: BMO Global Asset Management tracks a number of benchmarks from the following benchmark index families: FTSE Canada Index, Solactive Index, Bloomberg Index, Standard & Poor’s Index, Dow Jones Index, FTSE Index, MSCI Index, NASDAQ Index
Transparency rules: For our ETFs, full portfolio holdings are disclosed daily and are publicly available on our website: bmo.com/gam/ca/advisor/products/etfs#--tabs-1553694970691-. Some of our active mandates, however, will only show Top 10 monthly holdings, as opposed to the entire portfolio.
Management fees: Average MER, 0.24%.
Notes: Local ETF expertise is available across Canada.
CIBC ASSET MANAGEMENT
Contact: Carlo DiLalla, CFA, Managing Director and Head, Institutional Asset Management
Address: 161 Bay Street, Suite 2230, Toronto, ON, M5J 2S1
PH: 416-980-2768
Email: [email protected]
Web: cibcam-institutional.com
Ownership structure: Third party, 100%. CIBC Asset Management Inc. is a wholly owned subsidiary of the Canadian Imperial Bank of Commerce (CIBC), a widely held, publicly traded company.
Number of ETF investment professionals: 10
Established: 1972
Management style: Active, strategic beta, traditional index
Other management styles: CIBC’s ETF range offers a diversity of manager styles, including broad-market index, quantitative and active equity/fixed income, and multi-asset portfolios.
Canadian institutional clients: 1
Canadian institutional funds: CIBC ETFs are exchange traded and are available to a wide range of investors – retail and institutional.
Fund assets: Canadian equities, $1,240.6M; fixed income, $3,788.2M; US equities, $1,977.6M; global equities, $0.78M; emerging markets, $174.9M; other, $1,320.4M (international equities, $1,025.6M; balanced, $3.5M; money market, $291.3M)
Total assets managed: $8,502.5M
Asset flows: Net flows, $5.2M; net outflows, $0.6M
New products planned for 2026: We are expanding our ETF offerings with 20 new products expected to launch in 2026.
Products launched in 2025: 11 new ETFs launched – CIBC Canadian Banks Covered Call ETF (CCCB); CIBC High Dividend Covered Call ETF (CCDC); CIBC U.S. High Dividend Covered Call ETF (CUDC); CIBC U.S. High Dividend Covered Call ETF – CAD Hedged (CUDC.F); CIBC Conservative ETF Portfolio (CCON); CIBC Balanced ETF Portfolio (CBLN); CIBC Balanced Growth ETF Portfolio (CGRW); CIBC All-Equity ETF Portfolio (CEQY); CIBC Premium Cash Management ETF (CCAD); CIBC USD Premium Cash Management ETF (CUSD.U); CIBC Income Advantage ETF (CCLO). We plan to build out our ETF into 2026 with additional launches.
Benchmarks tracked: FTSE Canada Universe Bond Index™; MSCI Canada Domestic IMI Index™; CIBC Atlas Clean Energy Select Index; MSCI Emerging Markets Index™; Morningstar® Global ex-Canada Core Bond Hedged CAD Index™; MSCI EAFE 100% Hedged to CAD Index™; MSCI EAFE Index™; FTSE Canada Short Term Bond Index™; MSCI USA 100% Hedged to CAD Index™; MSCI USA Index™
Transparency rules: The ETF dashboard allows investors to access daily price, performance and outstanding shares, historical prices, monthly NAVPS, fund profiles, monthly portfolio details (Top 10 holdings, sector breakdown, country mix), and quarterly commentary. The disclosure of portfolio holdings is governed by regulatory requirements in respect of the disclosure of investment funds’ full and partial portfolio holdings. With the exception of ETF Investment Management Subsidiaries, CIBC has policies in place that provide guidelines under which the subsidiary may disclose holdings to prospective institutional clients, consultants, rating. organizations, and analytical service providers.
Canadian domiciled mandate mix by client type: For ETFs that trade on the exchange, we do not have the same granularity on ownership details as for mutual funds.
Worldwide breakdown by domiciled region: For ETFs that trade on the exchange, we do not have the same granularity on ownership details as for mutual funds.
Management fees: Average management fees, 0.22%; average MER, 0.25% (asset-weighted averages). Management fees range from 4 bps to 80 bps for active ETFs.
DESJARDINS GLOBAL ASSET MANAGEMENT
Contact: Natalie Bisaillon, Managing Director and Chief of Institutional Client Relations
Address: 1, Complexe Desjardins, 20th Floor, South Tower, Montréal, QC, H5B 1B2
PH: 514-214-5742
Fax: 514-281-7253
Email: [email protected]
Web: dgam.ca
Ownership structure: Third party, 100%. Desjardins Global Asset Management is part of the Desjardins Movement, a financial services cooperative that belongs to its members.
Number of investment professionals: 21
Established: 1989
Management style: Active
Canadian institutional clients: 39
Canadian institutional funds: Desjardins Canadian Universe Bond Index ETF; Desjardins Canadian Short Term Bond Index ETF; Desjardins 1–5 Year Laddered Canadian Government Bond Index ETF; Desjardins Canadian Corporate Bond Index ETF; Desjardins 1–5 Year Laddered Canadian Corporate Bond Index ETF; Desjardins Canadian Preferred Share Index ETF; Desjardins Canada Multifactor – Controlled Volatility ETF; Desjardins USA Multifactor – Controlled Volatility ETF; Desjardins Developed ex-U.S. ex-Canada Multifactor – Controlled Volatility ETF; Desjardins Emerging Markets Multifactor – Controlled Volatility ETF; Desjardins RI Active Canadian Bond – Net-Zero Emissions Pathway ETF; Desjardins Canadian Equity Index ETF; Desjardins American Equity Index ETF; Desjardins International Equity Index ETF; Desjardins Emerging Markets Equity Index ETF; Desjardins Quebec Equity ETF; Desjardins American Mid Cap Equity Index ETF; Desjardins RI Canada – Net-Zero Emissions Pathway ETF; Desjardins RI USA – Net-Zero Emissions Pathway ETF; Desjardins RI Developed ex-USA ex-Canada – Net-Zero Emissions Pathway ETF; Desjardins RI Emerging Markets – Net-Zero Emissions Pathway ETF; Desjardins RI Canada Multifactor – Net-Zero Emissions Pathway ETF; Desjardins RI USA Multifactor – Net-Zero Emissions Pathway ETF; Desjardins RI Developed ex-USA ex-Canada Multifactor – Net-Zero Emissions Pathway ETF; Desjardins RI Emerging Markets Multifactor – Net-Zero Emissions Pathway ETF; Desjardins RI Global Multifactor Fossil Fuel Reserves Free ETF; Desjardins SocieTerra American Equity ETF; Desjardins Global Macro ETF; Desjardins Market Neutral ETF; Desjardins Market Neutral ETF – US$ Hedged; Desjardins Absolute Return Global Equity Markets ETF – CA$ Hedged; Desjardins Absolute Return Global Equity Markets ETF – US$ Hedged
Fund assets: Canadian equities, $2,131M; US equities, $3,715M; global equities, $2,171M; emerging markets equities, $1,077M; fixed income, $3,044M; multi-asset, $351M
Total assets managed: $12,489M
Asset flows: Inflows, $7,328M; outflows, $1,179M
New products planned for 2026: 7
Products launched in 2025: 4
Benchmarks tracked: Solactive Canadian Bond Universe TR Index; Solactive Short-Term Canadian Bond Universe TR Index; Solactive 1–5 Year Laddered Canadian Government Bond TR Index; Solactive 1–5 Year Laddered Canadian Corporate Bond TR Index; Solactive Canadian Rate Reset Preferred Share TR Index; Solactive Canadian Bond Universe Corporate TR Index; Solactive Canada Broad Market Index (CA NTR); Solactive GBS United States 500 CAD Index (CA NTR); Solactive GBS Developed Markets ex North America Large & Mid Cap CAD Index (CA NTR); Solactive GBS Emerging Markets Large & Mid Cap CAD Index (CA NTR); Solactive GBS United States 400 CAD Index (CA NTR)
Transparency rules: Positions are published on the website; for active ETFs, positions are published with a 30-day lag.
Canadian domiciled mandate mix by client type: Property and casualty and life and health insurance companies; pension funds; foundations; trust companies; investment funds; private companies; public sector entities
Worldwide breakdown by domiciled region: All institutional clients are Canadian domiciled.
Asset distribution by relationship size for Canadian domiciled clients: Fixed income, $76.2B; equities, $37.4B; real estate, $3.5B; infrastructure, $7.0B
Management fees: Average management fees, 0.22%; average MER, 0.25%
Notes: The number of institutional clients is for the whole firm (DGAM). ETFs are listed on the public markets, therefore we cannot provide the number of clients invested in our ETFs. The minimum investment in ETFs is $2,000.
FRANKLIN TEMPLETON
Contact: Dennis Tew, Head of Sales, Canada
Address: Franklin Templeton, Toronto, ON, M5H 3T4
PH: 416-957-6023
Email: [email protected]
Web: franklintempleton.ca
Ownership structure: Principals, 36%; publicly held, 64%
Number of ETF investment professionals: 19
Established: 1940
Management style: Active, strategic beta, traditional index
Canadian institutional clients: 9
Canadian institutional funds: 10
Fund assets: US equities, $266,850,820; commodities, $5,490,200
Total assets managed: $272,341,020
New products planned for 2026: TBD
Products launched in 2025: Franklin U.S. Mid Cap Multifactor Index ETF; Franklin U.S. Quality Moat Dividend Index ETF; Franklin FTSE India Index ETF
Benchmarks tracked: Domestic Index; S&P/TSX Composite Index; FTSE U.S. Index; Russell 1000® Index; Russell 3000 Index; FTSE Japan Index; Solactive GBS Developed Markets ex North America Large & Mid Cap CAD Index; Solactive GBS Emerging Markets Large & Mid Cap CAD Index; MSCI World Index-NR; Russell 1000 Growth Index; MSCI EAFE Index; MSCI ACWI ex-REITs Index; MSCI EAFE IMI Index; S&P 500 Total Return Index; FTSE Canada 0–1 Year Universe Overall Bond Index; FTSE Canada Short Term Overall Bond Index; FTSE Canada Universe Bond Index; Bloomberg Barclays Global Aggregate (100% Hedged into CAD) Index; Bloomberg U.S. Aggregate Index (Hedged to CAD); FTSE Canada All Corporate Bond Index; FTSE Canada All Government Bond Index; S&P Global Infrastructure Index; Russell Mid Cap Index
Transparency rules: Passive, smart beta, non-feeder active are fully transparent. Feeder of mutual fund ETFs – non-transparent
Management fees: Average, 28bps
GLOBAL X INVESTMENTS CANADA INC.
Contact: Raghav Mehta, CFA, Vice President, ETF Strategist
Address: 55 University Ave, Suite 800, Toronto, ON, M5J 2H7
PH: 416-640-2936
Email: [email protected]
Web: globalx.ca
Ownership structure: Global X Investments Canada Inc. is a wholly owned subsidiary of Mirae Asset Global Investments Co., Ltd. and is a corporation existing under the laws of Canada. Global X is the manager, investment manager and trustee of the Global X Funds.
Number of investment professionals: 11
Established: 2005
Management style: Active, strategic beta, traditional index
Fund assets: Canadian equities, $11,617,227,515; US equities, $10,983,976,800; global equities, $3,920,775,332; emerging markets equities, $304,151,288; fixed income, $18,259,515,837; commodities, $366,914,805; multi-asset, $244,633,267
Total assets managed: $48,741,236,131
Asset flows: Inflows, $4,541,039,770
Products launched in 2025: 31