ETFs: Canada sees the launch of 44 new funds, many targeting income investors
Canada has launched 44 new exchange-traded funds (ETFs) in May, catering to various investment strategies. Notable performers include tech-focused funds that have seen significant price returns, particularly in the semiconductor sector. These new funds aim to provide investors with more flexible options in both equity and fixed income markets.
- ▪The MegaLong (3X) US Semiconductors Daily Leveraged Alternative ETF earned a 77.80% price return in May.
- ▪National Bank Investments Inc. launched 12 new ETF versions of existing mutual funds.
- ▪Global X Investments Canada Inc. introduced nine new funds, including seven commodity-based ETFs.
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ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountWhile crude oil prices retreated to under US$100 a barrel, chipmakers like Advanced Micro Devices and Qualcomm powered the rally for the S&P 500 and the Dow Jones Industrial Average to yet more new record highs by the end of May.AMD surged on increased demand for AI-related equipment and Qualcomm reached a deal with ByteDance to supply chips for AI data centers. The top Canadian ETF performers for May were from the tech sector. The MegaLong (3X) US Semiconductors Daily Leveraged Alternative ETF (SOXU-T) is once again holding the top spot earning 77.80% price return. The Harvest CrowdStrike Enhanced High Income Shares ETF (CRWY-T) had a 58.48% increase for a single month on price alone.
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