Home etfexpress.com Canadian ETF launches for January 2024

Canadian ETF launches for January 2024

A summary of the Canadian ETF launches that occurred in January 2024.

CI Global Asset Management launched two U.S. equity factor ETFs, the CI U.S. Enhanced Momentum Index ETF (Tickers: CMOM/CMOM.B) and CI U.S. Enhanced Value Index ETF (Tickers: CVLU/CVLU.B). 

CI U.S. Enhanced Momentum Index ETF seeks to track the performance of a portfolio of U.S. equity securities on the basis of risk-adjusted time-weighted price performance during the specified measurement periods that exhibit higher-quality characteristics. Currently, the hedged common units of the fund (i.e. CMOM) seeks to track the VettaFi US Enhanced Momentum Index (CAD Hedged); and the unhedged common units of the fund (i.e. CMOM.B) seeks to track the VettaFi US Enhanced Momentum Index.

CI U.S. Enhanced Value Index ETF seeks to track the performance of a portfolio of large and mid-cap U.S. equity securities that exhibit high value characteristics. Currently, the hedged common units of the fund (i.e., CVLU) seeks to track the VettaFi US Enhanced Value Index (CAD Hedged); and the unhedged common units of the fund (i.e., CVLU.B) seeks to track the VettaFi US Enhanced Value Index.

Guardian Capital LP launches GuardBonds Funds, a suite of five fixed income solutions; four of which are defined-maturity bond funds. 

The GuardBonds2024 Investment Grade Bond Fund (Ticker: GBFA), seeks to provide income over a pre-determined time horizon by investing in a portfolio consisting primarily of Canadian dollar denominated investment grade bonds with an effective maturity in 2024. The GuardBondsFund’s termination date is anticipated to be on or about November 30, 2024.

The GuardBonds2025 Investment Grade Bond Fund (Ticker: GBFB), seeks to provide income over a pre-determined time horizon by investing in a portfolio consisting primarily of Canadian dollar denominated investment grade bonds with an effective maturity in 2025. The GuardBonds Fund’s termination date is anticipated to be on or about November 30, 2025.

The GuardBonds2026 Investment Grade Bond Fund (Ticker: GBFC), seeks to provide income over a pre-determined time horizon by investing in a portfolio consisting primarily of Canadian dollar denominated investment grade bonds with an effective maturity in 2026. The GuardBondsFund’s termination date is anticipated to be on or about November 30, 2026. 

The GuardBonds2027 Investment Grade Bond Fund (Ticker: GBFD), seeks to provide income over a pre-determined time horizon by investing in a portfolio consisting primarily of Canadian dollar denominated investment grade bonds with an effective maturity in 2027. The GuardBondsFund’s termination date is anticipated to be on or about November 30, 2027.

The GuardBonds 1-3 Year Laddered Investment Grade Bond Fund (Ticker: GBLF) seeks to provide exposure to a diversified portfolio consisting primarily of Canadian dollar denominated investment grade bonds, segmented into three groupings with maturities from one to three years that will provide regular income.

Harvest Portfolios Group Inc. launched two new ETFs, the Harvest Premium Yield 7-10 Year Treasury ETF (Tickers; HPYM/HPYM.U) and Harvest Canadian T-Bill ETF (Ticker: TBIL). 

HPYM will seek to provide high monthly cash distributions to Unitholders by investing, on a non-levered basis, in a portfolio of exchange traded funds, selected by the manager, that provides exposure primarily to intermediate term U.S. treasury bonds and are listed on a regulated stock exchange in North America. Harvest Premium Yield 7-10 Year Treasury ETF will generally write covered call options on up to 100 per cent of the portfolio securities. The level of covered call option writing may vary based on market volatility and other factors.

TBIL will seek to provide interest income through exposure to Government of Canada Treasury Bills with remaining maturities generally less than 3 months.

Purpose Investments launched two yield-focused ETFs, the Microsoft Yield Shares Purpose ETF (Ticker: MSFY) and NVIDIA Yield Shares Purpose ETF (Ticker: YNVD). 

MSFY aims to maximise yield from holding Microsoft shares by using covered call strategy and moderate leverage. Similarly, YNVD aims to maximise yield from holding NVIDIA shares by using covered call strategy and moderate leverage.

Invesco Canada launched two new solutions, the Invesco Morningstar Global Next Gen AI Index ETF (Tickers: INAI/INAI.F) and Invesco US Treasury Floating Rate Note Index ETF (Ticker: IUFR.U). 

INAI/INAI.F is based on the Morningstar Global Next Generation Artificial Intelligence Index, which is designed to deliver exposure to companies anticipated to have significant economic benefits due to their role in the advancement of AI technologies, including next generation AI technologies such as generative AI, AI data and infrastructure, AI services and AI software technologies.

IUFR.U tracks the FTSE US Treasury Floating-Rate Note Index, which seeks to invest in US Treasury floating rate notes with time-to-maturity greater than or equal to one month.

Arrow Capital Management Inc. launched the Arrow Equity Advantage Alternative Fund (Ticker: ADVIV), a unique liquid alternative strategy investing in a portfolio of predominantly North American dividend paying equity securities. ADIV uses two strategies to help investors optimise their performance potential, diversify their investment portfolio, and manage their risk exposure: A proprietary market neutral strategy investing long and short in North American equity securities combined with up to 100% exposure in the S&P / TSX Composite Index. 

Horizon ETFs launched the Horizons USD High Interest Savings ETF (Ticker: UCSH.U), that primarily invests in high-interest U.S. dollar deposit accounts, which provide a higher interest rate than a traditional USD savings account. 

BMO Asset Management launched the BMO US Equity Buffer Hedged to CAD ETF – January (Ticker: ZJAN), which seeks to replicate the income and returns of the S&P 500 index up to a cap, while buffering against the first 15 per cent of losses, resetting after a period of a year beginning and ending in January. ZJAN also hedges US dollar exposure back to Canadian dollars. 

This article is sponsored by STOXX.

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