The Canadian ETF industry has surpassed $100 billion in total assets under management, doubling its level from four years ago, BMO Global Asset Management says.

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BMO says in a report Thursday that ETFs have so far seen more than $10.6 billion in inflows this year.

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Investors are moving more to smart beta ETFs focused on income, quality and low volatility, BMO says. They’re also migrating away from direct-security holdings to sector-based ETFs offering diversified exposure.