ishares

ISHARES FTSE/XINHUA CHINA 25 INDEX FUND $35.84 (New York symbol FXI; buy or sell through brokers) is an exchange traded fund that aims to track the FTSE/Xinhua China 25 Index, which is made up of the 25 largest, most liquid Chinese stocks. All of the stocks in the index trade on the Hong Kong exchange. Some also trade as American Depositary Receipts (ADRs) on New York.

The fund’s top holdings are China Construction Bank, 9.0%; Tencent Holdings, 8.8%; China Mobile, 7.6%; Industrial & Commercial Bank, 6.9%; Bank of China, 6.2%; PetroChina, 4.2%; China Shenhua Energy, 4.1%; Agricultural Bank of China, 4.0%; China Life, 4.0% and China Petroleum, 4.0%.

The fund’s holdings give it the following industry breakdown: Financials, 56.2%; Telecommunications, 13.8%; Oil and Gas, 12.2%; Technology, 8.8%, Basic Materials, 4.1%; Consumer Goods, 2.4%; and Industrials, 2.4%. Its expense ratio is 0.74%.
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ISHARES DEX UNIVERSE BOND INDEX FUND $30.37 (CWA Rating: Income) (Toronto symbol XBB; buy or sell through brokers) mirrors the performance of the DEX Universe Bond Index. The 784 bonds in the portfolio have an average term-to-maturity of 9.79 years. The fund’s MER is 0.33%.

The bonds in the index are 66.7% government and 33.3% corporate.

The fund yields 3.2%, compared to the Short-Term Bond Fund’s 2.6%. Its yield-to-maturity is 2.53%, 0.91% above the Short-Term Fund. That reflects the added risk of holding long-term bonds.
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ISHARES DEX SHORT-TERM BOND INDEX FUND $28.60 (CWA Rating: Income) (Toronto symbol XSB; buy or sell through brokers) mirrors the performance of the DEX Short-Term Bond Index.

This index consists of a wide range of investmentgrade federal, provincial, municipal and corporate bonds with between one- and five-year terms to maturity. The fund holds 384 bonds with an average term to maturity of 2.91 years. The bonds in the index are 60.2% government and 39.8% corporate. The fund’s MER is 0.28%.

iShares DEX Short-Term Bond Index Fund yields 2.6%. However, this high yield is due to the fact that some of the fund’s bonds pay above-market interest rates. As a result, they trade above their face value. When these bonds mature, holders will only get the bonds’ face value, which means the portfolio will incur predictable capital losses. These losses will offset some of the appeal of the above-market yields.
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ISHARES MSCI EMERGING MARKETS EASTERN EUROPE INDEX FUND $23.42 (New York symbol ESR; buy or sell through brokers) has 73.6% of its assets invested in Russia, followed by Poland at 20.3%; Czech Republic, 3.0%; and Hungary, 2.4%.

The fund’s top holdings are Gazprom (Russia: gas utility), 16.0%; Lukoil (Russia: oil), 10.0%; Sberbank (Russia: bank), 9.0%; Magnit OJSC (Russia: retailing), 5.0%; PKO Bank Polski (Poland: banking), 4.3%; Novatek (Russia: natural gas), 3.5%; and MMC Norilsk Nickel (Russia: mining), 3.3%.

iShares MSCI Emerging Markets Eastern Europe Index Fund’s expense ratio is 0.67%.
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ISHARES MSCI EMERGING MARKETS EASTERN EUROPE INDEX FUND $23.42 (New York symbol ESR; buy or sell through brokers) has 73.6% of its assets invested in Russia, followed by Poland at 20.3%; Czech Republic, 3.0%; and Hungary, 2.4%.

The fund’s top holdings are Gazprom (Russia: gas utility), 16.0%; Lukoil (Russia: oil), 10.0%; Sberbank (Russia: bank), 9.0%; Magnit OJSC (Russia: retailing), 5.0%; PKO Bank Polski (Poland: banking), 4.3%; Novatek (Russia: natural gas), 3.5%; and MMC Norilsk Nickel (Russia: mining), 3.3%.

iShares MSCI Emerging Markets Eastern Europe Index Fund’s expense ratio is 0.67%.

The fund’s concentration in Russia, and in oil and gas, adds risk, especially after Russia’s recent annexation of Crimea.

The U.S....

Canada’s inflation rate is just 1.1%, well below the Bank of Canada’s 2% target. That lets the bank keep interest rates low, which holds down our dollar, making our exports cheaper in world markets. That’s good for Canada’s economic growth.

Even so, the long-term outlook is for higher interest rates....

ISHARES FTSE/XINHUA CHINA 25 INDEX FUND $35.84 (New York symbol FXI; buy or sell through brokers) is an exchange traded fund that aims to track the FTSE/Xinhua China 25 Index, which is made up of the 25 largest, most liquid Chinese stocks. All of the stocks in the index trade on the Hong Kong exchange....

ISHARES DOW JONES CANADA SELECT DIVIDEND INDEX FUND $24.40 (Toronto symbol XDV; buy or sell through brokers; ca.ishares.com) holds 30 of the highest-yielding Canadian stocks. Its selections are based on dividend growth, yield and payout ratio. The weight of any one stock is limited to 10% of its assets. The fund’s MER is 0.55%. It yields 3.8%.

The fund’s top holdings are CIBC, 7.0%; TD Bank, 6.3%; National Bank, 6.2%; Bonterra Energy, 6.0%; Bank of Montreal, 5.6%; Royal Bank, 5.1%; BCE, 4.3%; AG Growth International, 4.3%; and IGM Financial, 3.9%.

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iShares 1-5 Year Laddered Corporate Bond Index ETF, $19.82, symbol CBO on Toronto (Units outstanding: 93.1 million; Market cap: $1.8 billion; ca.ishares.com), invests in a portfolio of short-term bonds drawn from the DEX (formerly Scotia Capital) Bond Index. The ETF first sold units to the public at $20 each and began trading on Toronto on February 25, 2009. Its MER is 0.28%, and it currently yields 4.2%....

iShares MSCI World Index Fund ETF, $34.01, symbol XWD on Toronto (Units outstanding: 5.8 million; Market cap: $197.3 million; ca.ishares.com), holds large- and mid-cap stocks across 23 developed countries, including Australia, Canada, France, Germany, Hong Kong, Ireland, Japan, Singapore, the U.K. and the U.S. The ETF holds 1,507 stocks covering about 85% of the market in each nation. It does this by holding units of the iShares Core S&P 500 ETF (54.3% of assets), the iShares MSCI EAFE ETF (41.6%) and the iShares MSCI Canada ETF (4.0%). iShares MSCI World Index Fund ETF has an MER of 0.47% and yields 1.6%....