Toronto-based BMO Asset Management Inc. has added two new series to a U.S.-focused ETF to give investors more currency flexibility.
The asset manager launched the BMO MSCI USA High Quality Index ETF (Hedged Units) and the BMO MSCI USA High Quality ETF (USD Units) on Thursday. The initial ETF began trading in November.
The ETF offers investors exposure to U.S. high-quality stocks that are based on three main fundamental variables: high return on equity, stable year-over-year earnings growth, and low financial leverage.
The management fee for the new ETF series is 0.3%.
The ETF trades on the Toronto Stock Exchange.