Question 1

What is ZBAL?

Accepted Answer

ZBAL — BMO Balanced ETF — is a Canadian-listed ETF trading on the TSX. NA

Question 2

What is the ZBAL ETF price today?

Accepted Answer

ZBAL last traded at $15.93 CAD on the TSX. See the price chart above for recent performance.

Question 3

What is the ZBAL MER (management expense ratio)?

Accepted Answer

ZBAL has a management expense ratio (MER) of 0% per year. This fee is automatically deducted from the fund's assets, so you never pay it directly — but it does reduce your net returns over time. At 0%, ZBAL is considered a low-cost ETF.

Question 4

What are ZBAL annualised returns?

Accepted Answer

ZBAL historical returns: YTD: +6.70%, 1-year: +14.52%, 3-year annualised: +13.39%, 5-year annualised: +7.77%. Past performance is not a guarantee of future results. The 3-year Sharpe ratio is 1.40, which measures risk-adjusted return.

Question 5

Does ZBAL pay dividends or distributions?

Accepted Answer

Yes, ZBAL distributes income to unitholders. The current distribution yield is approximately 1.63%, paid quarterly. Distributions may include dividends, interest, capital gains, or return of capital depending on the fund's holdings. In a TFSA or RRSP, distributions are sheltered from tax.

Question 6

What does ZBAL invest in?

Accepted Answer

ZBAL's top holdings include BMO Discount Bond Index ETF (ZDB, 27.9%), BMO S&P 500 Index ETF (ZSP, 27.4%), BMO S&P/TSX Capped Composite (ZCN, 14.9%), BMO US Aggregate Bond Index ETF (Hedged Units) (ZUAG-F, 11.9%), BMO MSCI EAFE Index ETF (ZEA, 9.9%) — and 3 more positions. See the full Top 10 Holdings table above for a complete breakdown. The fund tracks the Morningstar Can Neu Gbl Tgt Alloc NR CAD.

Question 7

What sectors does ZBAL invest in?

Accepted Answer

ZBAL's largest sector exposures are Technology (25.4%), Financial Services (20.0%), Industrials (10.8%). The full sector breakdown is shown in the Sector Weights table on this page.

Question 8

How large is ZBAL? (Assets under management)

Accepted Answer

ZBAL has approximately $643M in assets under management (AUM). Larger AUM generally means better liquidity, tighter bid-ask spreads, and a lower risk of the fund being wound down.

Question 9

When was ZBAL launched?

Accepted Answer

ZBAL was launched on February 12, 2019, giving it a 7-year track record. A longer history makes it easier to evaluate how the ETF performs across different market cycles.

Question 10

How do I buy ZBAL in Canada?

Accepted Answer

ZBAL trades on the TSX under the ticker ZBAL. You can buy it through any Canadian brokerage, including Wealthsimple Trade (commission-free), Questrade, TD Direct Investing, RBC Direct, and CIBC Investor's Edge. It can be held in a TFSA, RRSP, FHSA, or taxable account.

Question 11

How risky is ZBAL?

Accepted Answer

ZBAL has a 1-year volatility of 7.13% and a beta of 1.17 (more volatile than the broad market). Its 3-year Sharpe ratio of 1.40 indicates solid risk-adjusted returns. As with all market-linked investments, past volatility does not predict future risk.

Date	Open	High	Low	Close	Adj Close	Volume
2026-07-31	$15.95	$15.95	$15.87	$15.93	$15.93	14,601
2026-07-30	$15.90	$15.93	$15.85	$15.93	$15.93	22,850
2026-07-29	$15.99	$15.99	$15.79	$15.79	$15.79	44,979
2026-07-28	$15.96	$16.00	$15.88	$15.97	$15.97	46,018
2026-07-27	$15.99	$15.99	$15.91	$15.96	$15.96	35,323
2026-07-24	$15.93	$15.94	$15.88	$15.91	$15.91	16,447
2026-07-23	$15.94	$15.94	$15.84	$15.85	$15.85	37,216
2026-07-22	$15.98	$16.03	$15.98	$15.99	$15.99	9,371
2026-07-21	$15.95	$16.02	$15.95	$16.00	$16.00	26,052
2026-07-20	$15.97	$15.97	$15.88	$15.89	$15.89	34,228

#	Ticker	Name	Weight
1	ZDB	BMO Discount Bond Index ETF	27.86%
2	ZSP	BMO S&P 500 Index ETF	27.42%
3	ZCN	BMO S&P/TSX Capped Composite	14.90%
4	ZUAG-F	BMO US Aggregate Bond Index ETF (Hedged Units)	11.88%
5	ZEA	BMO MSCI EAFE Index ETF	9.90%
6	ZEM	BMO MSCI Emerging Markets Index ETF	5.64%
7	ZMID	BMO S&P US Mid Cap Index ETF	1.54%
8	ZSML	BMO S&P US Small Cap Index ETF	0.77%

Sector	Weight
Technology	25.38%
Financial Services	20.00%
Industrials	10.79%
Consumer Cyclicals	7.93%
Energy	7.29%
Communication Services	6.79%
Basic Materials	6.74%
Healthcare	6.17%
Consumer Defensive	4.36%
Utilities	2.67%
Real Estate	1.86%

Ticker	Name	Price	1D
AMZU		$28.46	+30.19%
AMHE-U	Harvest Amazon Enhanced High Income Shares ETF	$14.27	+16.68%
COID		$8.24	+16.38%
AMHE	Harvest Amazon Enhanced High Income Shares ETF - Class A Units	$14.70	+14.84%
ALPU		$19.24	+13.51%
AMZH-U	Harvest Amazon High Income Shares ETF	$13.87	+13.13%
MSFH-U	Harvest Microsoft Enhanced High Income Shares ETF	$9.48	+12.46%
PINV	Purpose Global Innovators Fund ETF	$31.26	+12.08%

BMO Balanced ETF (ZBAL : TSX)

CIBC Investor's Edge

Price Chart (30 Days)

Key Statistics

Recent Price History

Annualised Returns

Top 10 Holdings

Sector Weights

About BMO Balanced ETF

ETF Details

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Frequently Asked Questions — ZBAL