E321 – Guided ETF Portfolio Strategy Q3 2026

From record ETF inflows to a broadening AI story reshaping global equity markets, the investment landscape continues to evolve. In this episode, special guest Bipan Rai joins hosts Zayla Saunders and Hilly Cutler to unpack his quarterly portfolio strategy, and what it all means for investor positioning as Q3 gets underway. 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 Bipan Rai, Head of ETF Strategy, Exchange Traded Funds at BMO GAM. Recorded live on Monday, July 06, 2026.   **ETFs:** · BMO MSCI Emerging Markets Index ETF (ZEM) · BMO MSCI USA High Quality Index ETF (ZUQ) · BMO S&P/TSX Capped Composite Index ETF (ZCN)  · BMO Covered Call Canadian Banks ETF (ZWB) · BMO Low Volatility US Equity ETF (ZLU) ·  BMO US Aggregate Bond Index ETF (ZUAG) ·  BMO Covered Call Spread Gold Bullion ETF (ZWGD)  ·  BMO Broad Commodity ETF (ZCOM)  ·  BMO Global Infrastructure Fund (Active ETF Series) (ZGIF) · BMO US Aggregate Bond Index ETF (Hedged Units) (ZUAG.F)  · BMO Market+ ETFs   **Sources:** Mark Burgess, “How Canada hit $1-trillion ingross ETF assets,” The Globe and Mail, June 26, 2026 Noushin Ziafati, “Canadian ETF flows surpassed the $100B asset mark in first half of 2026,” Investment Executive, July 6, 2026 ‘⁠Where is the Next AI Investment Opportunity?⁠’ –*Views from the Desk* E320 with special guest Jeremy Yeung **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 any circumstance. Any statement that necessarily depends on future events may be a forward-looking statement. Forward-looking statements are 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 BMO ETFs and ETF Series units of the BMO Mutual Funds. Please read the ETF facts or prospectus of the relevant BMO ETF or ETF Series of BMO Mutual Fund before investing. BMO ETFs and ETF Series units of the BMO Mutual Funds are not guaranteed, their valueschange frequently and past performance may not be repeated. For a summary of the risks of an investment in the BMO ETFs or ETF Series units of the BMO Mutual Funds, please see the specific risks set out in the prospectus. BMO ETFs and ETF Series units of the BMO Mutual Funds 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. The BMO Mutual Funds are offered by BMO Investments Inc., an investment fund 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.