⁠E317 –⁠ SpaceX and Mega-IPOs: How Indices Are Adapting

From Nasdaq and FTSE Russell to MSCI, the rules governing index inclusion are being rewritten in real time. In this episode, Matt Montemurro joins hosts Zayla Saunders and Hilly Cutler to unpack where the guardrails are bending, what SpaceX’s landmark IPO means for passive investors—and why the index you own may determine the exposure you get. Zayla Saunders is Vice President of ETF Online Distribution at BMO Global Asset Management (BMO GAM) and Hilly Cutler is Director of Portfolio Consulting and Senior Portfolio Consultant at BMO GAM. They are joined by Matt Montemurro, Head of Fixed Income and Equity Index ETFs at BMO GAM. This episode was recorded live on Monday, June8, 2026.   **ETFs mentioned:** · BMO NASDAQ 100 Equity Hedged to CAD Index ETF (ZQQ) · BMO NASDAQ 100 Equity Index ETF (ZNQ) · BMO MSCI USA Equal Weight Index ETF (ZEQL) · BMO MSCI USA Equal Weight Index ETF (Hedged Units) (ZEQL.F) · BMO MSCI USA Equal Weight Index ETF (USD Units) (ZEQL.U) · BMO Global Communications Index ETF (COMM) · BMO S&P 500 Index ETF (ZSP)  · BMO S&P 500 Hedged to CAD Index ETF (ZUE) · BMO SPDR Communication Services Select Sector Index ETF (ZXLC) · BMO SPDR Communication Services Select Sector Index ETF (Hedged Units) (ZXLC.F) **Source:** Morningstar Direct, as of June 8, 2026 **IPO:** Initial Public Offering **Magnificent 7:** A group of seven high‑performing U.S. technology and tech‑adjacent companies—Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla. **Disclaimers:** Please visit for full disclaimers This podcast is for information purposes. The viewpoints expressed by the speakers represent their assessment of the markets at the time of publication. Those views are subject to change without notice at any time. The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Investments should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to anycircumstance. Any statement that necessarily depends on future events may be a forward-looking statement. Forward-looking statementsare not guarantees of performance. They involve risks, uncertainties and assumptions. Although such statements are based on assumptions that are believed to be reasonable, there can be no assurance that actual results will not differ materially from expectations. Investors are cautioned not to rely unduly on any forward-looking statements. In connection with any forward-looking statements, investors should carefully consider the areas of risk described in the most recent prospectus. Commissions, management fees and expenses all may be associated with investments in exchange-traded funds. Please read the ETF Facts or prospectus of the BMO ETFs before investing. The indicated rates of return are thehistorical annual compounded total returns including changes in unit value and reinvestment of all dividends or distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. Exchange-traded funds are not guaranteed, their values change frequently and past performance may not be repeated. For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the BMO ETF’s prospectus. BMO ETFs trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination. BMO ETFs are managed by BMO Asset Management Inc., an investment fund manager, a portfolio manager, and a separate legal entity from Bank of Montreal. BMO Global Asset Management is a brand name under which BMO Asset Management Inc. and BMO Investments Inc. operate. “BMO (M-bar roundel symbol)” is a registered trademark of Bank of Montreal, used under licence.