Two new ETFs for Canadian investors

Article Excerpt

Royal Bank is the partner of BlackRock for the distribution of the iShares ETFs in Canada. But the Royal Bank platform also hosts a considerable number of RBC branded ETFs. The Bank recently expanded its ETF roster by adding RBC-branded ETFs that mirror existing actively managed mutual funds. RBC NORTH AMERICAN GROWTH ETF $20.47 (NEO exchange symbol RNAG) invests in U.S. and Canadian companies that have what the managers see as above-average growth prospects. The ETF launched in March of 2023 and charges a management fee of 0.60%; that’s a reasonable fee for an actively managed fund and is the same as the management fee charged by the cheapest of the mutual fund share classes. The ETF has only gathered $1.5 million of assets so far but the overall mutual fund is much larger. At its launch, the ETF held roughly 50% of its assets in Canadian equities and 50% in U.S. equities. Top holdings included Royal Bank, Apple, Microsoft, Alphabet, and CN Rail. The mutual fund…