ETF FACTS

January 17, 2024

BMO US Dividend ETF - CAD Units
ZDY
Manager: BMO Asset Management Inc.
This document contains key information you should know about BMO US Dividend ETF - CAD Units. You can find more details about this exchange traded fund (ETF) in its
prospectus. Ask your representative for a copy, contact BMO Asset Management Inc. at bmo.etfs@bmo.com, or 1-800-361-1392, or visit www.bmo.com/etflegal.
Before you invest, consider how the ETF would work with your other investments and your tolerance for risk.

Quick facts
Date ETF started: March 19, 2013 Fund manager: BMO Asset Management Inc.
Total value on November 30, 2023: $466.9 Million Portfolio manager: BMO Asset Management Inc.
Management expense ratio (MER): 0.33% Distributions: Monthly (any net income and/or return of capital) and in
December (any net realized capital gains)
Trading information (12 months ending December 31, 2023)
Ticker symbol: ZDY Average daily volume: 31,212 units
Exchange: Toronto Stock Exchange Number of days traded: 250 out of 250 trading days
Currency: Canadian dollars
Pricing information (12 months ending December 31, 2023)
Market price: $34.68 - $37.88 Average bid-ask spread: 0.06%
Net asset value (NAV): $34.77 - $37.89

What does the ETF invest in?

The ETF seeks to provide exposure to a yield weighted portfolio of U.S. dividend paying stocks. The selected companies will have the potential for long-term capital
appreciation.

The charts below give you a snapshot of the ETF's investments on November 30, 2023. The ETF's investments will change.
Top 10 investments (November 30, 2023) Investment mix (November 30, 2023)
1. JPMorgan Chase & Co. 2.6% Portfolio Allocation
2. Verizon Communications Inc. 2.6% 19.1% Health Care
3. Pfizer Inc. 2.5%
18.8% Information Technology
4. Johnson & Johnson 2.5%
16.6% Financials
5. International Business Machines Corporation 2.5%
6. Microsoft Corporation 2.5% 11.4% Consumer Staples
7. Apple Inc. 2.5% 8.7% Industrials
8. AbbVie Inc. 2.4% 6.8% Utilities
9. Procter & Gamble Company, The 2.4% 6.3% Consumer Discretionary
10. Home Depot, Inc., The 2.4% 5.6% Energy
Total percentage of top 10 investments 24.9% 3.9% Communication Services
Total number of investments: 100 0.2% Cash/Receivables/Payables
2.6% Other

How risky is it? Risk rating

BMO Asset Management Inc. has rated the volatility of this ETF as medium.
The value of the ETF can go down as well as up. You could lose money.
Generally, the rating is based on how much the ETF's returns have changed from
One way to gauge risk is to look at how much an ETF's returns change over time. year to year. It doesn't tell you how volatile the ETF will be in the future. The
This is called "volatility". rating can change over time. An ETF with a low risk rating can still lose money.
In general, ETFs with higher volatility will have returns that change more over
time. They typically have a greater chance of losing money and may have a Low to Medium to
greater chance of higher returns. ETFs with lower volatility tend to have returns Low Medium High
that change less over time. They typically have lower returns and may have a Medium High
lower chance of losing money.
For more information about the risk rating and specific risks that can affect the
ETF's returns, see the "Risk Factors" section of the ETF's prospectus.
No guarantees
ETFs do not have any guarantees. You may not get back the amount of money
you invest.

For dealer use only: CUSIP 05575X119

 BMO US Dividend ETF - CAD Units
ZDY

How has the ETF performed?

This section tells you how CAD Units of the ETF have performed over the past 10 years.
Returns1 after expenses have been deducted. These expenses reduce the ETF's returns.
1
Returns are calculated using the ETF’s net asset value (NAV).

Year-by-year returns 40%

This chart shows how CAD Units of the ETF has performed in each of the past 30% 26.1
10 completed calendar years. The ETF dropped in value in 1 of the 10 years. 23.0
20% 17.7 20.2 17.0
10% 6.7 3.9 4.7
The range of returns and change from year to year can help you assess how 2.3
risky the ETF has been in the past. It does not tell you how the ETF will perform 0%
in the future. -10% -5.2
-20%
-30%
-40%

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023
Best and worst 3-month returns
This table shows the best and worst returns for CAD Units of the ETF in a 3-month period over the past 10 calendar years. The best and worst 3-month returns could be
higher or lower in the future. Consider how much of a loss you could afford to take in a short period of time.

Return 3 months ending If you invested $1,000 at the beginning of the period

Best return 13.1% July 31, 2016 Your investment would rise to $1,131

Worst return -22.5% March 31, 2020 Your investment would drop to $775

Average return
The annual compound return of CAD Units of the ETF was 11.2% over the past 10 years as of December 31, 2023. If you had invested $1,000 in the ETF 10 years ago, your
investment would now be worth $2,891.

Trading ETFs
ETFs hold a basket of investments, like mutual funds, but trade on exchanges like stocks. Here are a few things to keep in mind when trading ETFs:
Pricing
ETFs have two sets of prices: market price and net asset value (NAV).
Market price
• ETFs are bought and sold on exchanges at the market price. The market price can change throughout the trading day. Factors like supply, demand, and changes in the
value of an ETF’s investments can effect the market price.
• You can get price quotes any time during the trading day. Quotes have two parts: bid and ask.
• The bid is the highest price a buyer is willing to pay if you want to sell your ETF units. The ask is the lowest price a seller is willing to accept if you want to buy ETF units.
The difference between the two is called the “bid-ask spread”.
• In general, a smaller bid-ask spread means the ETF is more liquid. That means you are more likely to get the price you expect.
Net asset value (NAV)
• Like mutual funds, ETFs have a NAV. It is calculated after the close of each trading day and reflects the value of an ETF’s investments at that point in time.
• NAV is used to calculate financial information for reporting purposes – like the returns shown in this document.
Orders
There are two main options for placing trades: market orders and limit orders. A market order lets you buy or sell units at the current market price. A limit order lets you set
the price at which you are willing to buy or sell units.
Timing
In general, market prices of ETFs can be more volatile around the start and end of the trading day. Consider using a limit order or placing a trade at another time during the
trading day.
 BMO US Dividend ETF - CAD Units
ZDY

Who is this ETF for? A word about tax

Investors who: In general, you'll have to pay income tax on any money you make on an ETF.
• are looking for equity growth with income How much you pay depends on the tax laws where you live and whether or not
• want exposure to a diversified portfolio of U.S. dividend equities you hold the ETF in a registered plan, such as a Registered Retirement Savings
• are comfortable with medium investment risk (i.e., you are willing to accept Plan or a Tax-Free Savings Account.
fluctuations in the market value of your investment).
Keep in mind that if you hold your ETF in a non-registered account, distributions
from the ETF are included in your taxable income, whether you get them in
cash or have them reinvested.

How much does it cost?

This section shows the fees and expenses you could pay to buy, own and sell units of the ETF. Fees and expenses, including any trailing commissions, can vary among ETFs.
Higher commissions can influence representatives to recommend one investment over another. Ask about other ETFs and investments that may be suitable for you at a
lower cost.
1. Brokerage commissions
You may have to pay a commission every time you buy and sell units of the ETF. Commissions may vary by brokerage firm. Some brokerage firms may offer
commission-free ETFs or require a minimum purchase amount.

2. ETF expenses
You don’t pay these expenses directly. They affect you because they reduce the ETF's returns.
As of June 30, 2023, the ETF's expenses were 0.33% of its value. This equals $3.30 for every $1,000 invested.

Annual rate (as a % of the

ETF's value)
Management expense ratio (MER)
This is the total of the ETF's management fee and operating expenses. 0.33%
Trading expense ratio (TER)
These are the ETF’s trading costs. 0.00%
ETF expenses
The amount included for ETF expenses is the amount arrived at by adding the MER and the TER. 0.33%

Trailing commission
The trailing commission is an ongoing commission. It is paid for as long as you own the ETF. It is for the services and advice that your representative and their firm provide
to you.

This ETF doesn’t have a trailing commission.

What if I change my mind? For more information

Under securities law in some provinces and territories, you have the right to Contact BMO Asset Management Inc. or your representative for a copy of the
cancel your purchase within 48 hours after you receive confirmation of the ETF’s prospectus and other disclosure documents. These documents and the
purchase. ETF Facts make up the ETF's legal documents.
In some provinces and territories, you also have the right to cancel a purchase, BMO Asset Management Inc.
or in some jurisdictions, claim damages, if the prospectus, ETF Facts or financial First Canadian Place
statements contain a misrepresentation. You must act within the time limit set 100 King Street West, 43rd Floor
by the securities law in your province or territory. Toronto, Ontario
M5X 1A1
For more information, see the securities law of your province or territory or ask
a lawyer. Toll Free 1-800-361-1392
www.bmo.com/etflegal
Email: bmo.etfs@bmo.com

BMO Exchange Traded Funds are managed and administered by BMO Asset Management Inc., an investment fund manager and portfolio manager and separate legal entity from Bank of Montreal.
®
“BMO (M-bar roundel symbol)” is a registered trade-mark of Bank of Montreal.