BMO Monthly Income ETF Review (ZMI) 2024

Last Updated: 3/7/2024

Wealth Awesome Rating: 67/100
This equity ETF has an MER of 0.63%. With higher than average fees, it’s a premium option. Managing 92 million in assets, it’s less popular among investors. Suitable for those seeking growth with a medium to high risk tolerance.
The Wealth Awesome ETF rating is based on identifying ETFs that are popular and well used, while keeping costs low.

ZMI trades on the TSX exchange.
Looking to invest in general equity? Consider an general equity ETF as an easy way to get access. The BMO Monthly Income (ZMI) is one of the most popular ETF’s in Canada by market cap. Let’s take a closer look at this ETF here.  

What is the BMO Monthly Income ETF

A general equity ETF, aiming for growth by investing in a broad range of stocks. This ETF has an MER of 0.63%. This ETF trades on the TSX exchange.

ZMI stock price and other stats

ETF Key Stats

Exchange: TSX

Assets Under Management: $92MM

Expense Ratio: 0.63%

Price: $16.49 (Updated: 3/7/2024)

BMO Monthly Income (ZMI) Top 10 Holdings

Company NameSymbolAssets %
BMO Corporate Bond ETFZCB24.62003
BMO US Dividend ETF (CAD)ZDY18.26889
BMO Global High Dividend Cvrd Call ETFZWG15.01239
BMO Canadian Dividend ETFZDV12.83178
BMO MT US IG Corp Bd Hdgd to CAD ETFZMU10.56675
BMO Premium Yield ETF HedgedZPAY5.21831
BMO US Preferred Sh Hgd CAD ETFZHP4.69974

BMO Monthly Income (ZMI) Breakdown by Market Cap


BMO Monthly Income (ZMI) Sector Breakdown

SectorEquity %Relative to Category
Basic Materials4.075994.36462
Consumer Cyclicals8.162049.42557
Financial Services22.8607419.51306
Real Estate0.667653.57042
Communication Services5.699555.72308
Consumer Defensive8.195776.92891

BMO Monthly Income (ZMI) Geographic Breakdown

RegionEquity %Relative to Category
North America78.1975.198
United Kingdom3.270954.22804
Europe Developed13.07411.332
Europe Emerging00.05
Africa/Middle East00.308
Asia Developed0.7912.039
Asia Emerging01.525
Latin America00.635

ZMI Management Expense Ratio

ZMI has a management expense ratio of  0.63% . The MER is significantly lower than what you can get with a mutual fund product offered by large banks.  

How to Buy  BMO Monthly Income TSX ETF

You can buy  ZMI on pretty much any online brokerage in Canada, since it trades on the TSX. If you are looking for some easy options take a look at these two:  
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Author Bio - Qayyum Rajan is a CFA Charterholder with 10+ years of finance experience and the co-creator of He has previously worked as a portfolio manager at RBC Dominion Securities and other roles at asset managers like Sentry Investments. He then started building websites and fintech apps to bring finance to everyone.

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