Checked that out on BMOIL. (BMO31148). It seems to hold actual stocks. 1.02% MER. 3.44% trailing 12mo yield.Currently I think the best high yielding "balanced fund" is BMO Monthly Income D series, which is mentioned earlier in this thread. I think it yields a little over 3% yield so it's a bit of a yield boost versus most balanced funds.
There is another Balanced ETF Portfolio BMO31703. 0.88% MER. 1.9% TTM yield.
and BMO Monthly High Income II D BMO31833, 5.37% TTM yield. 1.2% MER (Mostly Canadian)
Without digging further, I don't get good feeling about these or any mutual funds. Time to quit!
Just read this Vbal vs MAW104 - https://boomerandecho.com/vbal-vs-mawer-balanced-fund-for-one-stop-investing/