New
Global ETF Survey 2026: Answer now →
Help us improve your experience. Please confirm your investor type:
ETF What's Up
Don’t Miss a Move in the ETF Market
Sign up and keep track of everything that moved the ETF industry this week. From new launches to regulatory shifts across the Atlantic.
ZEF ETF · BMO Emerging Markets Bond Hedged to CAD Index ETF
The ZEF Exchange Traded Fund (ETF) is provided by BMO. It is built to track an index: Bloomberg Emerging Markets Tradable External Debt (EMTED) GDP Weighted Capped Index. The ZEF ETF provides physical exposure, so by buying it you actually own parts of all the 88 underlying holdings. This share class generates a stream of income by distributing dividends.
Last update Yesterday at 1:30 PM UTC
LIVE
CLOSED
This fund is part ofEmerging Markets Aggregate Bonds1M perf.-0.29%
Last price
$12.39
1M perf.
+0.30%
1M flows
-€384K
AuM
€496M
TER
0.55%
Rating
Not rated
ZEF
$12.39
Performance & flows
Segment for quartile rank
April 6, 2026 → July 3, 2026
Create a free account to view the flows graph
ZEF
$12.35
+1.42%
Emerging Markets Aggregate Bonds
+2.62%
Historic performance and flows
| 1M | 3M | 1Y | 3Y | 5Y | MTD | QTD | YTD | ||
|---|---|---|---|---|---|---|---|---|---|
| Perf. | +0.30%  | +1.42%  | +3.89% | +19.83% | +0.93% | -0.08% | -0.08% | +0.28% | |
| Flows |
Key fund info
Segment for quartile rank
This ETF's jurisdiction country is not in your region (Europe and Middle East) ·
Main characteristics
More details
NAV
7/3/2026
$12.35
1D NAV change
+0.03%
Dividend policy
Replication method
Direct (Physical)
Replication model
Optimized sampling
No. of holdings
88
Inception date
5/21/2010
Jurisdiction
Canada
Distribution
Canada
Legal structure
Unit Investment Trust
Base currency
CAD
Dividend distribution
Trailing 12-month distr. yield
Distribution frequency
Last distribution
Create a free account to view dividend distribution
Classification
Product type
Asset class
Factors
N/A
Investment strategy
The BMO Emerging Markets Bond Hedged to CAD Index ETF has been designed to replicate, to the extent possible, the performance of the Barclays Emerging Markets Tradable External Debt (EMTED) GDP Weighted Capped Index CAD Hedged, net of expenses. The Fund invests in a diversified basket of US dollar denominated sovereign debt from emerging markets issuers by including up to three bonds per emerging market country. The US dollar exposure is hedged back to Canadian dollars.
Tax optimisation
PEA
France
UK Reporting Status
United Kingdom
Create a free Trackinsight Essentials account to unlock insights
Access exclusive metrics and features to support your investment decisions.
New to Trackinsight?
For individual investors
Essentials
A forever free toolbox for fund selection, analysis, research, and ETF portfolio construction.
More fund data
Compare up to 3 funds
More screener filters
Choose your own screener columns from 100+ metrics
Lists for saving your research
Portfolio construction and analysis
Personal dashboard for live monitoring
For professional investors
Enterprise
Trackinsight Enterprise addresses the everyday operational, regulatory, and analytical pain points faced by professional and institutional ETF investors, from selection to execution.
Request a free trialAdvertisement
Risk profile
Segment for quartile rank
Historical risk/return profile
| 3M | 1Y | 3Y | 5Y | |
|---|---|---|---|---|
| Returns | +1.42% | +3.89% | +19.83% | +0.93% |
| Volatility | ||||
| Perf./Volatility | ||||
| Max drawdown |
Create a free account to view risk/return table
Synthetic Risk and Reward Indicator (SRRI)
UCITS
N/A
PRIIPS
N/A
More exposure metrics are available, exclusively in Trackinsight Enterprise
Exposure
Countries
Indonesia
9.81%
Saudi Arabia
8.79%
Turkey
8.75%
Brazil
7.92%
China
6.48%
Poland
6.02%
Argentina
5.20%
Mexico
4.91%
Unavailable
17.93%
Other
24.20%
Sectors
Sovereign
79.02%
Municipal
3.05%
Unavailable
17.93%
Diversification
Total weight of top 15 holdings out of 88
Top 15 holdings
Data as of May 31, 2026
Brazil, 6.625% 15mar2035, USD
China, 1.2% 21oct2030, USD
Brazil, 3.875% 12jun2030, USD
Indonesia, 3.85% 15oct2030, USD
Indonesia, 4.7% 6jun2032, USD
Ministry of Investment Saudi Arabia, 4.375% 16apr2029, USD
Ministry of Investment Saudi Arabia, 5.625% 13jan2035, USD
Turkey, 7.625% 26apr2029, USD
Create a free account to view top holdings
Turkey, 6.5% 3jan2035, USD
Argentina, 0.75% 9jul2030, USD
US50064FAZ71
Poland, 5.125% 18sep2034, USD
Poland, 4.875% 12feb2030, USD
Poland, 5.375% 12feb2035, USD
Turkey, 9.375% 19jan2033, USD
Create a free account to view top holdings
More risk metrics are available, exclusively in Trackinsight Enterprise
Sustainability
Integrates ESG criteria
No
SDG
More sustainability metrics are available, exclusively in Trackinsight Enterprise
Replication
Trackinsight replication rating:
Not rated
1-year trailing difference
As of June 30, 2026
Create a free account to view the replication graph
ZEF
N/A
Replication quality
Calculated over 12m, as of June 30, 2026
Tracking error
Tracking difference
1-year cumulative return difference
Best
Worst
Daily return difference
Average
Worst
Replication information
Index
Index ticker
Index dividend policy
Replication method
Replication model
Issuer
BMO
BMO ID Card
Number of funds
276
Total AuM
€125.11B
Expense ratio range
0.05% - 1.17%
Average expense ratio
0.4396%
Top 5 funds by BMO
| AuM | ||
|---|---|---|
ZSP | BMO S&P 500 Index ETF | €14.98B |
ZCN | BMO S&P/TSX Capped Composite Index ETF | €10.57B |
ZEA | BMO MSCI EAFE Index ETF | €8.32B |
ZAG | BMO Aggregate Bond Index ETF | €7.99B |
ZEB | BMO Equal Weight Banks Index ETF | €4.16B |
Frequently asked questions about ZEF
What does BMO Emerging Markets Bond Hedged to CAD Index ETF, ZEF, invest in?
ZEF is a Passive ETF. This ETF provides exposure to Emerging markets Mixed Ratings Government Bonds.
Which benchmark or index does ZEF replicate?
ZEF tracks the Bloomberg Emerging Markets Tradable External Debt (EMTED) GDP Weighted Capped (CAD Hedged) Net Total Return Index - CAD, through a optimized sampling replication method.
What is the Total Expense ratio (TER) of ZEF?
ZEF carries a total expense ratio (TER) of 0.55%, indicating the annual cost for holding the fund.
When was ZEF launched?
ZEF was introduced to the market on May 21, 2010. It trades on Canada
Who is the ETF issuer of ZEF?
BMO Emerging Markets Bond Hedged to CAD Index ETF, ZEF, is provided by BMO. Learn more about BMO here.
What is the current assets under management (AUM) of ZEF?
ZEF oversees €496M in assets as of July 3, 2026.
How has ZEF performed lately?
Based on data from July 3, 2026, ZEF returned 0.30% over the past month, 1.42% over the last three months and 0.28% year-to-date.
What are the latest inflows or outflows for ZEF?
As of July 3, 2026, ZEF recorded net flows of -€383K over the last month and +€56M year-to-date.
Does ZEF distribute dividends?
ZEF follows a distributing dividend policy, meaning it pays out income to investors. As of July 3, 2026, its 12-month trailing yield was 4.22%.
What are the main country or region exposures of ZEF?
As of May 31, 2026, ZEF has significant geographic allocations in Indonesia, Saudi Arabia and Turkey.
In which sector or theme does ZEF invest in?
As of May 31, 2026, ZEF focuses largely on Sovereign and Municipal.
How many securities does ZEF hold and how diversified is it?
As of May 31, 2026, ZEF holds 88 positions in its portfolio, with 40.47% of assets concentrated in its top 15 holdings.
What are the main positions in ZEF?
As of May 31, 2026, ZEF top three holdings include Brazil, 6.625% 15mar2035, USD, China, 1.2% 21oct2030, USD and Brazil, 3.875% 12jun2030, USD.
What is the base currency of ZEF?
The base currency of ZEF is CAD.
Is ZEF currency-hedged?
ZEF is hedged, meaning it seeks to minimize the impact of currency fluctuations between its base currency and the currency of the underlying assets.
Advertisement
About Trackinsight
Since our founding in 2016, we have been at the forefront of the industry, delivering accessible, comprehensive, and reliable tools to support the evolving needs of investors.
Over the past decade, Trackinsight has expanded its operations across six countries, serving thousands of professional investors. We’ve consistently innovated to provide cutting-edge solutions that meet the changing demands of the ETF market.
In 2024, Kepler Cheuvreux, a leading independent European financial services firm, acquired a majority stake in Trackinsight, becoming the company's principal shareholder.
This strategic partnership solidifies Trackinsight's position as a premier provider of ETF selection and analysis tools, while strengthening Kepler Cheuvreux’s commitment to becoming a leading player in the ETF sector.
Together, we are committed to offering advanced services that empower professional investors, advisors, institutions, and issuers. This new step enables us to deliver even more comprehensive and innovative technological solutions, driving ETF investing to new heights.
More about TrackinsightETF TOOLS
PLATFORM
ETF NEWS & RESEARCH
© 2014-2026 Trackinsight SA. All rights reserved.
Privacy policy | Cookie policy | | Terms of use | Imprint
Privacy policy | Cookie policy | | Terms of use | Imprint
