The Canadian product shelf is expanding and it is slowly deviating from the core, which was inherent in the rapid growth of the passive industry. 16 new ETFs were issued this month from RBC, BMO, Evolve Funds and Horizons.<\/p>\n
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BMO introduced five new ETFs. The BMO High Yield US Corporate Bond Index ETF (\u201cZJK<\/strong>\u201d), started trading at the beginning of October and already attracted $1.18-billion in assets. It tracks the performance of the Bloomberg Barclays Capital U.S. High Yield Very Liquid Index. The ETF is also offered in CAD-hedged units under ZHY. The management fee on both ZJK and ZHY are 0.55% of NAV. BlackRock\u2019s iShares U.S. High Yield Fixed Income Index ETF (\u201cCHB<\/strong>\u201d) tracks the same benchmark and charges only 50 basis points.<\/p>\n Horizons launched the Horizons Active A.I. Global Equity ETF (\u201cMIND<\/strong>\u201d), the World\u2019s first global equity-focused ETF entirely run by a proprietary and adaptive artificial intelligence system. MIND seeks long-term equity returns through investments in major global equity indices using primarily North American-listed ETFs. \u201cMIND is expected to be able to more efficiently process market data and allocate assets than any human manager,\u201d said Steve Hawkins, President and co-CEO of Horizons ETFs. \u201cUnlike today\u2019s portfolio managers who may be susceptible to investor biases such as overconfidence or cognitive dissonance, MIND is devoid of all emotion. It is purely systematic in how it makes investment decisions.\u201d Horizons has more ETFs in its pipeline.<\/p>\n