Kyle Anthony, our new Canadian writer, has produced the following summary of the Canadian ETF launches that occurred in February 2023.
Over 15 new ETF offerings were launched for the month, with covered call strategies being a common theme among many of the investment mandates. Detailed below are the respective launches from each asset manager.
§ BMO Global Asset Management launched six ETFs, with two being covered call strategies focused on the Energy and Health Care sectors. The remaining strategies will focus on investment themes such as, Agriculture, US Fixed Income, US Treasuries, and recurring income for investors.
§ RBC iShares launched five ETFs. Their newly launched ETF offerings cover varying investment themes, namely, long-dated US Treasuries, Canadian Federal Government Bonds, Emerging Markets (ex-China), and Electrification & Autonomous Vehicles.
§ Invesco Canada launched three ETFs. These ETF offerings will track several S&P Dividend Aristocrat Indexes and include ESG-oversight, providing investors with a varied selection of differentiated dividend-income strategies that have an ESG-tilt.
§ CIBC Asset Management launched their International Equity Index ETF (CAD-Hedged), offering investors broad exposure to international equities. With this launch, the firm now offers nine low-cost CIBC Index ETFs designed to cover the core exposures in a typical asset allocation strategy.
§ CI Global Asset Management launched their CI Utilities Giants Covered Call ETF, an addition to their extensive line-up on covered call ETFs. The fund will be comprised of the largest utility companies, measured by market capitalisation, that are listed on North American stock exchanges.
§ Hamilton ETFs launched their Hamilton Canadian Financials Yield Maximizer ETF. This ETF utilises a covered call strategy and provides investors with exposure to a portfolio of Canadian banks and financials. The solution aims to be the highest yielding financials ETF in Canada, with an initial target yield of 13 per cent.
