I tend not to pay much attention to the tools offered by discount brokers, but BMO Investorline has introduced a new ETF screener and comparison tool for its customers. With the increasingly muddied landscape of ETFs available in Canada and the U.S., a screener is potentially useful.
The tool includes the ability to compare the performance of an ETF to an index. This is useful for checking an ETF's tracking error. Index ETFs are supposed to track an index, but many do so poorly. A quick comparison can tell you how good a job a particular index ETF is doing.
Note: As far as I am aware, this screeneris only available to BMO Investorline clients in their online accounts.
I'd be interested to hear what others think of this new ETF tool.