Canadian asset managers have debuted several new ETFs or ETF series of existing mutual funds, adding to the rapidly growing list of products for advisors and investors to choose from.
Global X Investments Canada Inc. has launched seven new ETFs that invest in the commodities sector. This includes:
- Global X All-In-One Commodity Producers Equity ETF (TSX: COMX). Management fee: 0.55%
- Global X All-In-One Commodity Producers Equity Covered Call ETF (TSX: CMCC). Management fee: 0.65%
- Global X Enhanced All-In-One Commodity Producers Equity Covered Call ETF (TSX: CMCL). Management fee: 0.85%
- Global X Silver Miners Index ETF (TSX: SLVX). Management fee: 0.85%
- Global X Silver Miners Covered Call ETF (TSX: SVCC). Management fee: 0.5%
- Global X Enhanced Silver Miners Covered Call ETF (TSX: SVCL). Management fee: 0.65%
- Global X Uranium Covered Call ETF (TSX: URCC). Management fee: 0.65%
The so-called “all-in-one” commodity funds provide exposure to various producers in the energy, metals and mining sectors. CMCC also employs covered calls, while CMCL employs covered calls and roughly 25% leverage.
The silver funds invest in global mining companies unearthing silver. SVCC also employs covered calls, while SVCL employs covered calls and approximately 25% leverage.
The uranium fund invests in uranium producers and issuers involved in nuclear industries. It also employs covered calls on up to 50% of the value of its portfolio to generate additional income. URCC joins the $199-million Global X Uranium Index ETF (TSX: HURA), launched in 2019.
More details on the new funds, which launched on May 13 and 14, are available here.
Hamilton Capital Partners Inc. (Hamilton ETFs) has debuted two new equity ETFs with a focus on generating monthly income and covered call strategies.
Launched May 8, the Hamilton Canadian Equity Yield Maximizer ETF (TSX: CMAX) and Hamilton International Equity Yield Maximizer ETF each seek to provide investors with “attractive monthly income,” according to a release.
The former invests in a diversified portfolio of primarily covered call ETFs with broad Canadian equity exposure, similar to the S&P/TSX 60 index. The latter primarily provides exposure to developed international equities (excluding North American equities) and employs a covered call option writing program.
CMAX’s management fee is subject to the fees of the underlying funds in its portfolio, while IMAX’s management fee is 0.65%, Hamilton ETFs notes on its website.
TD Asset Management Inc. (TDAM) and National Bank Investments Inc. (NBI) have rolled out ETF series of existing mutual fund strategies.
TDAM’s launches include the:
- TD Alternative Commodities Pool – ETF Series (TSX: TCOM). Management fee: 0.7%
- TD Canadian Corporate Bond Fund – ETF Series (TSX: TCCB). Management fee: 0.4%
- TD Short Term Bond Fund – ETF Series (TSX: TSTB). Management fee: 0.35%
- TD Ultra Short Term Bond Fund – ETF Series (TSX: TUST). Management fee: 0.25%
NBI’s launches include the:
- NBI Canadian Bond Index Fund – ETF Series (TSX: NBBX). Management fee: 0.07%. Administration fee: 0%
- NBI Canadian Equity Index Fund – ETF Series (TSX: NBCX). Management fee: 0.05%. Administration fee: 0%
- NBI U.S. Equity Index Fund – ETF Series (TSX: NBUX). Management fee: 0.05%. Administration fee: 0%
- NBI International Equity Index Fund – ETF Series (TSX: NBIX). Management fee: 0.17%. Administration fee: 0%
- Meritage Tactical ETF Moderate Portfolio – ETF Series (TSX: NMMO). Management fee: 0.3%. Administration fee: 0.08%
- Meritage Tactical ETF Balanced Portfolio – ETF Series (TSX: NMBL). Management fee: 0.3%. Administration fee: 0.08%
- Meritage Tactical ETF Growth Portfolio – ETF Series (TSX: NMGR). Management fee: 0.3%. Administration fee: 0.08%
- Meritage Tactical ETF Equity Portfolio – ETF Series (TSX: NMEQ). Management fee: 0.3%. Administration fee: 0.08%
- NBI Canadian Equity Growth Fund – ETF Series (TSX: NBCG). Management fee: 0.75%. Administration fee: 0.19%
- NBI SmartData Global Equity Fund – ETF Series (TSX: NSDG). Management fee: 0.4%. Administration fee: 0.1%
- NBI International Value Fund – ETF Series (TSX: NBIV). Management fee: 0.6%. Administration fee: 0.15%
- NBI Diversified Emerging Markets Equity Fund – ETF Series (TSX: NBEM). Management fee: 0.85%. Administration fee: 0.25%
Canada Life revamps seg fund offerings
The Canada Life Assurance Company is streamlining its segregated fund lineup and bringing in a smaller group of investment managers to oversee the funds, including Mackenzie Investments, Picton Mahoney Asset Management and Fidelity Investments Canada ULC.
“These changes aim to strengthen our offering and align investment strategies with those that are sought after by our advisors and their clients,” said Sam Febbraro, senior vice-president, wealth solutions with Canada Life, in a release.
“At the same time, we are making our lineup easier for advisors to navigate, implement, and explain to clients — so they can spend more time focused on their client outcomes.”
As a result of the investment management changes, the seg funds will also undergo changes to their names, risk ratings, management fees and availability status.
In addition, Canada Life has introduced a new fund in its seg fund lineup.
Launched May 11, the Canada Life Global Listed Private Equity segregated fund invests in the Counsel Global Listed Private Equity Pool. The underlying fund provides exposure to publicly listed global private equity companies and other private asset classes.
A full breakdown of the changes is available here.
Fund changes galore
Other asset managers have also announced changes to their investment funds.
IG Wealth Management and Mackenzie Investments, which are both subsidiaries of IGM Financial Inc., have announced portfolio manager, investment strategy and name changes for select investment funds. The changes, outlined here and here, took effect May 12.
Meanwhile, Bridgehouse Asset Managers said it received investor approval to merge the Sionna Strategic Income Fund into the T. Rowe Price Global Allocation Fund. The merger is set to happen on or around May 22. Investors in the A, F and I series of the terminating fund will receive securities of the A5, F5 and I series of the T. Rowe Price Global Allocation Fund.
Global X said it plans to consolidate and split the share of several ETFs later this month. Read more about the upcoming changes here.
Finally, Canada Life has announced changes to two mutual funds.
As of May 12, the Canada Life U.S. Small-Mid Cap Growth Fund is now being solely managed by Mackenzie Investments and will no longer follow “a multi-manager approach,” a release said. Its investment strategies have been updated to reflect the new single sub-advisor approach.
Also, the Canada Life Canadian Focused Small-Mid Cap Fund has added Mackenzie as a sub-advisor to manage a portion of the fund. Its investment strategies have been updated “to incorporate the investment style” used by Mackenzie, the release added.
