Toronto-based Mackenzie Financial Corp. is introducing smart beta strategies into its exchange-traded fund (ETF) lineup with the launch of two new products.
Mackenzie Maximum Diversification Canada Index ETF, which invests primarily in Canadian equities, and Mackenzie Maximum Diversification U.S. Index ETF, which invests primarily in U.S. equities, began trading on the Toronto Stock Exchange on Tuesday.
Mackenzie has partnered with Paris-based Tobam Core Investments, which will provide the investment process for the new products.
“Tobam’s methodology is designed to protect portfolios from structural bias and unmanaged risks often found in cap-weighted indices,” Mackenzie states in its announcement.
“The new Mackenzie ETFs are designed to track the performance of select rules-based indices from the Tobam Maximum Diversification Index Series,” the announcement continues. “Each index aims to create a more diversified portfolio relative to a market capitalization-weighted benchmark across Canadian and U.S. markets.”
These two products are the most recent additions to Mackenzie’s ETF product line, which officially launched in April with the release four actively managed, fixed-income ETFs.
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