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Canada Launches sponsored by STOXX

Canadian ETF launches for February 2024

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A summary of the Canadian ETF launches that occurred in February 2024.

Fidelity Investments launched seven new ETFs, a combination of equity and alternative strategies:

The equity strategies are:

Fidelity All-American Equity ETF (Ticker: FCAM), this solution provides exposure to a diversified portfolio of U.S. equity securities by using a strategic equity allocation approach. The underlying Fidelity ETFs that provide this exposure are:

Fidelity U.S. High-Quality ETF (25 per cent allocation), Fidelity U.S. Value ETF (25 per cent allocation), Fidelity U.S. Low Volatility ETF (25 per cent allocation), and Fidelity U.S. Momentum ETF (25 per cent allocation).

Fidelity All-Canadian Equity ETF (Ticker: FCCA), this solution provides exposure to a diversified portfolio of Canadian equity securities by using a strategic equity allocation approach. The underlying Fidelity ETFs that provide this exposure are:

Fidelity Canadian High-Quality ETF (25 per cent allocation), Fidelity Canadian Value ETF (25 per cent allocation), Fidelity Canadian Low Volatility ETF (25 per cent allocation), and Fidelity Canadian Momentum ETF (25 per cent allocation).

Fidelity All-International Equity ETF (Ticker: FCIN), this solution provides exposure to a diversified portfolio of international equity securities by using a strategic equity allocation approach. The underlying Fidelity ETFs that provide this exposure are:

Fidelity International High-Quality ETF (25 per cent allocation), Fidelity International Value ETF (25 per cent allocation), Fidelity International Low Volatility ETF (25 per cent allocation), and Fidelity International Momentum ETF (25 per cent allocation).

The alternative strategies are:

Fidelity Canadian Long/Short Alternative Fund (Ticker: FCLS), which will invest in long positions of companies expected to outperform the S&P/TSX Capped Composite Index and short companies that are expected to underperform the index. The manager will employ a systematic approach to selecting securities held within the fund and utilise a rules-based approach to assist in ongoing portfolio management.

Fidelity Global Value Long/Short Fund (Ticker: FGLS), which will have long and short positions in both equity and credit securities, across different countries and regions. The manager will employ a value-oriented investment approach that seeks to identify securities that are trading at discounts (long positions) or premiums (short positions) to the estimates of their intrinsic value.

Fidelity Long/Short Alternative Fund (Ticker: FLSA), which will maintain both long and short exposure to a diversified portfolio of primarily Canadian and U.S. equities, utilising a bottom-up fundamental analysis investment strategy that seeks to identify trends or organisational changes which have the potential to lead to important business developments that the market appears to have ignored or mispriced.

Fidelity Market Neutral Alternative Fund (Ticker: FMNA), will maintain both long and short exposure to a diversified portfolio of primarily Canadian and U.S. equities which involves simultaneously investing in growth-oriented equities of companies whose magnitude and duration of growth is apparently faster and longer than the market expectation and immediately selling equities of companies with decelerating growth rates or facing increased competition.

Hamilton Capital Partners Inc. launched four new ETFs:

Hamilton Gold Producer Yield Maximiser ETF (Ticker: AMAX), seeks to deliver attractive monthly income, while providing exposure to an equal-weighted equity portfolio of primarily gold producers, domiciled/listed principally in Canada and the United States.

Hamilton Energy Yield Maximiser ETF (Ticker: EMAX), seeks to deliver attractive monthly income, while providing exposure to an equal-weighted equity portfolio of energy companies, primarily domiciled/listed in Canada and the United States.

Hamilton U.S. Financials Yield Maximiser ETF (Ticker: FMAX), seeks to deliver attractive monthly income, while providing exposure to an equal-weighted equity portfolio of financial services companies, primarily domiciled/listed in the United States.

Hamilton Healthcare Yield Maximiser ETF (Ticker: LMAX), seeks to deliver attractive monthly income, while providing exposure to an equal-weighted equity portfolio of healthcare companies, primarily domiciled/listed in the United States.

AGF Investment Inc. launched 3 ETF series offerings of existing mutual fund mandates:

AGF Global Real Assets Fund (Ticker: AGLR), will invest primarily in equities and equity-related securities of companies operating in industries and sectors associated with real assets and located around the world. Real assets include, but are not limited to, infrastructure, energy, precious metals, and real estate.

AGF Total Return Bond Fund (Ticker: ATRB) will provide interest income and capital appreciation by investing in debt securities of governments and other issuers around the world.

AGF U.S. Small-Mid Cap Fund (Ticker: ASMD) aims to provide superior capital growth by investing primarily in in shares of small and medium companies with superior growth potential in the U.S.

Harvest ETFs launched two ETFs, the Harvest Premium Yield 7-10 Year Treasury ETF (Tickers: HPYM & HPYM.U) and Harvest Canadian T-Bill ETF (Ticker: TBIL). The former will seek to provide attractive and tax efficient monthly cash distributions to unitholders supported by writing call options on up to 100 per cent of its investment in US Treasury ETFs, that primarily hold mid-duration US Treasury bonds with average maturities of seven-10 years. The level of covered call option writing may vary based on market volatility and other factors. The latter is designed as a low-risk cash vehicle that pays competitive interest income that comes from investing in Treasury Bills (“T-Bills”) issued by the Government of Canada. TBIL provides a simple and straightforward solution for investors who want to hold a percentage of their portfolio in a cash proxy.

Evolve ETFs launched two new currency options for the Evolve Enhanced Yield Bond Fund. The additional currency options, CAD Unhedged Units (Ticker: BOND.B) and USD Unhedged Units (Ticker: BOND.U) provide investors with increased purchase optionality, as the fund BOND seeks to deliver attractive monthly income and long-term capital appreciation by utilising an active covered call strategy. The level of covered call option writing may vary based on market volatility and other factors.

Mackenzie Investments launched the Mackenzie World Low Volatility ETF (Ticker: MWLV), seeks to provide long-term capital growth by investing primarily in equity securities of large and mid-capitalisation companies in developed global markets, while seeking to provide lower volatility.  

The manager will invest in invest in high-quality companies that are undervalued and have attractive growth prospects, utilising a quantitative approach to stock selection, portfolio construction and transaction cost measure; and employing fundamental ideas in a disciplined, risk-aware manner. The ETF seeks to deliver volatility similar to or below that of the MSCI World Minimum Volatility (Net) Index. 

TD Asset Management launched the TD Cash Management ETF (Ticker: TCSH), a solution that seeks to earn a high rate of interest income while preserving capital and maintaining liquidity by investing primarily in high-quality debt securities such as money market and short-term fixed income securities issued by Canadian federal and provincial governments, corporations and trusts.

This article is sponsored by STOXX.

To view this week’s global ETF launches, click here.

To view this week’s US ETF launches, click here.

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