BMO Asset Management has changed the underlying indices of the BMO Equal Weight U.S. Banks Index ETF (ZBK) and BMO Equal Weight U.S. Banks Hedged to CAD Index ETF (ZUB).
Currently, ZBK tracks the performance of the Dow Jones U.S. Large-Cap Banks Equal Weight Total Stock Market Index, while ZUB tracks the performance of the Dow Jones U.S. Large-Cap Banks Equal Weight Total Stock Market Index Canadian Dollar Hedged.
But, effective on or about January 29, ZBK will start tracking the Solactive Equal Weight U.S. Bank Index. Meanwhile, ZUB will start tracking the performance of the Solactive Equal Weight US Bank Index Canadian Dollar Hedged.
The Solactive indices will provide investors with the same exposure to the asset class to which ZBK and ZUB, respectively, are currently exposed, and the changes to the indices will align with the current investment objectives and strategies of the funds. Also, the frequency of rebalancing for the indices will remain the same.