Edward Kholodenko, CEO of Questrade
A new exchange-traded fund provider has emerged in Canada, with Questrade Wealth Management launching six new ETFs that will include exposure to the technology and health-care sectors.
It is the first time Questrade, which is widely known for its discount brokerage platform, has launched its own product offering, to be known as Questrade Smart ETFs. The company also expanded into the robo-advisery business last November with a new online portfolio manager platform, Portfolio IQ.
The six ETFs include four sector ETFs and two U.S. midcap ETFs. They are all hedged to the Canadian dollar and based on Russell Indexes.
The funds, which will be available to investors in early March, include: Questrade Russell US Midcap Value Index ETF Hedged to CAD (QMV), Questrade Russell US Midcap Growth Index ETF Hedged to CAD (QMG), Questrade Russell 1000 Equal Weight US Technology Index ETF Hedged to CAD (QRT), Questrade Russell 1000 Equal Weight US Health Care Index ETF Hedged to CAD (QRH), Questrade Russell 1000 Equal Weight US Consumer Discretionary Index ETF Hedged to CAD (QRD), Questrade Russell 1000 Equal Weight US Industrials Index ETF Hedged to CAD (QRI).
Questrade will be introducing several more ETFs to the fund family in early spring, Edward Kholodenko, president and CEO of Questrade Financial Group, said in an interview.
QMV Invests in mid-sized U.S. companies seen offering good value, while QMG invests in mid-sized U.S. companies with growth potential. QRT allows investors to add large U.S. technology companies to their portfolio. QRH focuses on large U.S. health care companies. QRD focuses on large U.S. consumer discretionary companies (retailers, media companies, consumer goods, etc.) and QRI includes large U.S. companies within the producer durables sector (transportation, defense, heavy equipment etc.).
Management fees for the six funds will range between 0.7 per cent and 0.75 per cent.
Questrade Wealth Management is wholly owned by Questrade Financial Group, which also owns the online broker Questrade Inc.
Clare O’Hara