Global X Investments Canada Inc. launched nine new ETFs on Thursday, including three that provide exposure to major Canadian sectors.
In a release, the firm said these three new funds establish its “Best of Canada” ETF suite:
- Global X Equal Weight Canadian Telecommunications Index ETF (TSX: RING), which provides exposure to the Mirae Asset Equal Weight Canadian Telecommunications Index
- Global X Equal Weight Canadian Groceries & Staples Index ETF (TSX: MART), which provides exposure to the Mirae Asset Equal Weight Canadian Groceries & Staples Index
- Global X Equal Weight Canadian Insurance Index ETF (TSX: SAFE), which provides exposure to the Mirae Asset Equal Weight Canadian Insurance Index
These funds each have a management fee of 0.25% and are highly concentrated, with portfolios of less than 10 constituents, the release said.
The $930-million Global X Equal Weight Canadian Banks Index ETF (TSX: HBNK), which launched in July 2023 and focuses on the Big Six banks, is also part of the firm’s Best of Canada ETF suite.
Two of the nine new funds are part of the firm’s premium yield suite:
- Global X Mid-Term Government Bond Premium Yield ETF (TSX: PAYM), which has a management fee of 0.45% and a target duration of five to 10 years
- Global X Long-Term Government Bond Premium Yield ETF (TSX: PAYL), which has a management fee of 0.50% and a target duration of 10+ years
The ETFs provide exposure to U.S. Treasury fixed-income securities and apply an active options management overlay.
The firm’s two new U.S. equities–focused funds are:
- Global X Russell 2000 Index ETF (Cboe: RSSX/RSSX.U), which has a management fee of 0.25%; and
- Global X Russell 2000 Covered Call ETF (Cboe: RSCC), which has a 0.65% management fee.
They both provide exposure to the Russell 2000 Index. RSSX uses a traditional benchmark approach, and RSCC uses a covered call approach.
Lastly, the firm’s two new sector equity–focused funds are:
- Global X Equal Weight Canadian Oil & Gas Index ETF (TSX: NRGY), which provides exposure to the Mirae Asset Equal Weight Canadian Oil & Gas Index; and
- Global X Gold Producers Index ETF (TSX: GLDX), which provides exposure to the Mirae Asset North American Listed Gold Producers Index.
These new funds each have a management fee of 0.40%.
Other product news
On Oct. 21, Purpose Investments Inc. launched two single-stock-focused ETFs: the Meta Yield Shares Purpose ETF (Cboe: YMET) and the AMD Yield Shares Purpose ETF (Cboe: YAMD). Each have a 0.40% management fee.
The funds aim to capitalize on the long-term growth potential of Meta and AMD, respectively, and employ an options strategy to “provide a cushion against a decline in stock prices,” a release said.
On Monday, National Bank Investments Inc. (NBI) announced the launch of three new funds: NBI Senior Loan Fund, NBI Global Climate Ambition Fund, and NBI Sustainable Global Bond Fund.
The management fees for F-series are, respectively, 0.70%, 0.75% and 0.65%.