ZMPI: the BMO Market+ International Equity Fund, explained

Short answer: ZMPI is the ETF series of the BMO Market+ International Equity Fund, which holds broad international (outside North America) equities with a systematic fundamentals-based tilt aiming to edge out the market. It began trading on Cboe Canada on June 25, 2026, charges a 0.25% management fee, pays quarterly, and is rated Medium risk.

ZMPI completes a set. BMO’s Market+ suite already covers Canadian (ZMPC), U.S. (ZMPU), global (ZMPG), and all-country (ZMPW) equities, all built on the same idea: hold roughly the whole market, then let a systematic model of fundamental analysis nudge the weights toward stocks it scores well. This is the international slice, the developed world outside Canada and the U.S. It is not financial advice.

What ZMPI is

ZMPI at a glance

Attribute	Detail
Ticker	ZMPI
Issuer	BMO (ETF series of a BMO mutual fund)
Strategy	Broad international equity with a systematic fundamentals tilt
Management fee	0.25%
Distributions	Quarterly
Risk rating	Medium
Status	Trading on Cboe Canada since June 25, 2026

Think of Market+ as index-plus-a-nudge: cheaper and more diversified than concentrated active funds, slightly more ambitious than a pure index fund. The suite prices step up with the difficulty of the market, 0.15% for Canada up to 0.35% for all-country, with international landing at 0.25%.

What to weigh

• The tilt is modest by design. Do not expect this to look very different from an international index fund most of the time. That is a feature: small, systematic bets are less likely to blow up, and less likely to be dramatic.
• 0.25% buys the model. A plain international index ETF costs roughly 0.20% or a bit less. The question is whether BMO’s systematic scoring adds more than the few basis points of difference. Over long periods, small edges compound; so do small drags.
• International exposure is the underrated part. Many Canadian portfolios are all Canada and the U.S. The developed markets of Europe, Japan, and Australia are cheap relative to the U.S. by most measures, and this is a one-ticket way to own them.
• Holdings detail is thin so far. The series is new, no published MER yet, and detailed holdings were not yet posted at the time of writing.

Frequently asked questions

When did ZMPI launch?

The ETF series began trading on Cboe Canada on June 25, 2026.

Is ZMPI active or passive?

Systematic-active. It aims to hold the broad international market while a rules-based model of fundamental analysis tilts the weights, seeking modest outperformance rather than making concentrated calls.

Does ZMPI include US stocks?

No. It covers equities outside Canada and the U.S. For those markets, BMO’s suite has ZMPC and ZMPU, or you may already hold them through other funds.

Bottom line

ZMPI is a reasonable middle path for the international sleeve: index-like breadth, a disciplined tilt, a fair fee. It will live or die by whether the model’s nudges add up to more than a few basis points, which only time shows. If it takes the international slot in your portfolio, Greenline will show you how your geographic mix actually stacks up.