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etfs

The Canadian ETF industry ended September with assets under management of $188-billion. A wave of new products was launched during the month and three providers announced ETF closures.

New additions include two alternative ETFs from AGF Investments, the AGFiQ US Market Neutral Anti-Beta CAD-Hedged ETF (“QBTL”) and the AGFiQ US Long/Short Dividend Income CAD-Hedged ETF (“QUDV”). Each of the ETFs charges a management fee of 0.55%.

QBTL seeks performance results that correspond to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Thematic Market Neutral Anti-Beta Index (CAD-Hedged). The index is market neutral and sector neutral – meaning the number of long and short positions in each sector in the index approximate the weighting of that sector in the index universe. It is designed to capture the spread return between the long positions on low-beta companies and short positions on high-beta companies.

QUDV seeks performance results that correspond to the price and yield performance, before fees and expenses, of the Indxx Hedged Dividend Income Currency-Hedged CAD Index, a sector neutral index which is designed to measure the performance of a strategy utilizing three portfolios: long positions on high dividend paying companies, short positions on no or low dividend paying companies, and a long position in the Indxx Cash Index.

The industry is saturated with over 700 ETFs in the Canadian universe, ETFs that are not lucrative are being terminated or merged with other funds. For instance, as a result of a purchase and sale agreement, whereby Hamilton ETFs will acquire the management contract of Purpose Global Financials Income Fund (“PFG”), PFG will merge into the Hamilton Australian Financials Yield ETF (“HFA”), effective on or about October 25, 2019.

Kimberly Yip Woon Sun is an ETF analyst at Inovestor Inc.

Launches

TICKERNAMEASSET CLASSINCEPTION DATEMGT. FEE
HGRO-THorizons Growth TRI ETF PortfolioEquity9/13/20190.00%
CESG-NECI First Asset MSCI World ESG Impact ETF (CAD Hedged)Equity9/12/20190.55%
CESG-B-NECI First Asset MSCI World ESG Impact ETF (Unhedged)Equity9/12/20190.55%
FCGB-TFidelity Global Core Plus Bond ETFFixed Income9/25/20190.50%
FCSB-TFidelity Canadian Short-Term Corporate Bond ETFFixed Income9/25/20190.40%
FCHY-TFidelity Systematic U.S. High Yield Bond ETFFixed Income9/25/20190.50%
FCHH-TFidelity Systematic U.S. High Yield Bond Currency Neutral ETFFixed Income9/25/20190.53%
FCCB-TFidelity Systematic Canadian Bond Index ETFFixed Income9/25/20190.25%
PREF-TEvolve Dividend Stability Preferred Share Index ETFEquity9/26/20190.45%
QBTL-TAGFiQ US Market Neutral Anti-Beta CAD-Hedged ETFAlternative10/7/20190.55%
QUDV-TAGFiQ US Long/Short Dividend Income CAD-Hedged ETFAlternative10/7/20190.55%

Source: Inovestor

Terminations

TICKERNAMEASSET CLASSTERMINATION DATEAUMMGT. FEE
RQG-TRBC Target 2019 Corporate Bond Index ETFFixed Income11/15/2019$25.88 M0.20%
TIME-TEvolve Active Short Duration Bond Fund (Hedged to CAD)Fixed Income11/29/2019$7.303 M0.70%
TIME-B-TEvolve Active Short Duration Bond Fund (Unhedged)Fixed Income11/29/2019$7.303 M0.70%
CAPS-TEvolve Active US Core Equity Fund (Hedged to CAD)Equity11/29/2019$4.773 M0.70%
CAPS-B-TEvolve Active US Core Equity Fund (Unhedged)Equity11/29/2019$4.773 M0.70%
CAPS-U-TEvolve Active US Core Equity Fund (USD)Equity11/29/2019$6.526 M0.70%
CED-TCI First Asset Core Canadian Equity ETFEquity11/29/2019$4.314 M0.15%
CES-TCI First Asset Core U.S. Equity ETF (CAD Hedged)Equity11/29/2019$9.227 M0.15%
CES-B-TCI First Asset Core U.S. Equity ETF (U.S. Dollars)Equity11/29/2019$9.227 M0.15%
CES-U-TCI First Asset Core U.S. Equity ETF (Unhedged)Equity11/29/2019$9.227 M0.15%

Source: Inovestor

Fee reduction

TICKERNAMECURRENT MGT. FEENEW MGT. FEE
QCE-TMackenzie Canadian Large Cap Equity Index ETF0.05%0.04%
QCN-TMackenzie Canadian Equity Index ETF0.05%0.04%
QUU-TMackenzie US Large Cap Equity Index ETF0.08%0.06%
QAH-TMackenzie US Large Cap Equity Index ETF (CAD-Hedged)0.08%0.06%
QDX-TMackenzie International Equity Index ETF0.20%0.17%
QDXH-TMackenzie International Equity Index ETF (CAD-Hedged)0.20%0.17%
QCH-TMackenzie China A-Shares CSI 300 Index ETF0.65%0.55%
QBB-TMackenzie Canadian Aggregate Bond Index ETF0.09%0.07%
QCB-TMackenzie Canadian All Corporate Bond Index ETF0.30%0.14%
QSB-TMackenzie Canadian Short-Term Bond Index ETF0.09%0.08%
QTIP-TMackenzie US TIPS Index ETF (CAD-Hedged)0.20%0.15%
QUIG-TMackenzie US Investment Grade Corporate Bond Index ETF (CAD-Hedged)0.25%0.15%
QHY-TMackenzie US High Yield Bond Index ETF (CAD-Hedged)0.50%0.40%

Source: Inovestor

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