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Chris is correct. The BMO fund is an actively managed fund. A comparable TD fund would be the TD US Equity find which has a MER of around 2.00.

You are correct about the difference in MERs for the TD e-Series and i-series. They are the exact same index fund - only one is purchased and transacted strictly online. If you find yourself owning the i-fund and meanwhile you're doing everything online then it's a no-brainer to switch to the e-series. I initially purchased my TD Index fund at a branch and therefore it was the i-series. Since then I've done everything online and so I've switched to the e-series.

Whether BMO or TD, the Equity funds are actively managed funds and while similar to their counterpart Index funds, they try to beat the market through active management. A true Index fund will have Index in it's name... i.e. TD US Index vs. TD US Equity which is actively managed... and doesn't try to beat the market, but simply track it. I know the fund descriptions are very similar and rightly so since they are very similar funds, but the Equity funds are actively managed and therefore fees are higher.

The question is then is if they are both very similar which do you choose? Index funds are most definitely lower cost. An actively managed fund can beat the market. But the odds decrease as the length of investment increases.
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