Canadian ETF knowledgebase
The fund has been designed to replicate, to the extent possible, the performance of the S&P/TSX Equal Weight Diversified Banks Index, net of expenses.
The fund invests in and holds the constituent securities of the index in the same proportion as they are reflected in the index.
The S&P/TSX Equal Weight Diversified Banks Index includes commercial banks whose businesses are derived primarily from commercial lending operations and have significant business activity in retail banking and small and medium enterprise corporate lending.
The index is a subset of the S&P/TSX Composite Index, but each constituent security is allocated a fixed weight rather than a market capitalization weight.
|Category (main)||Canadian Equity - Banks|
|Category (other)||Banks / Financials|
|Underlying Index||S&P/TSX Equal Weight Diversified Banks Index|
|ETF Structure||Passive type. Endeavours to return the Index return before fees/costs|
|Asset Class||Equity - Banks|
|ETF Home Page||Available here|
|Inception Date||Oct 20, 2009|
|Significant Currency Exposure||No|
|Currency Hedging||Not applicable|
|Management Expense Ratio (MER)||0.62%|
|Exchange||TSX (Toronto Stock Exchange)|
|Eligibility *||RRSP, RRIF, RESP, TFSA, DPSP, RDSP|
|DRIP available **||Yes|
|PACC Plan available **||Unknown|
|SWP available **||Unknown|
* Always check eligibility with your plan operator as plans and accounts can differ
** Not all brokers can facilitate these plans. Check with your broker.
To view the TSX or Morningstar fund page for this ETF click on the Fund Data menu tab or below:
We would recommend this ETF if it was not for the MER ().
Charging an MER of 0.62% whilst holding just 6 stocks seems very excessive to us.