Two new ETFs for Canadian investors

Article Excerpt

This month we look at two recently listed Canadian ETFs. One aims to capture its gains from the “metaverse” and the other from sports and entertainment. EVOLVE METAVERSE ETF $9.27 (Toronto symbol MESH) invests mainly in North American companies involved in the development of the “metaverse.” The metaverse is a term coined to describe an immersive 3-dimensional version of the Internet, powered by virtual reality technology. According to CEO Mark Zuckerberg of Meta Platforms (formerly Facebook), the metaverse will be a digital space where people can socialize, work and play. The ETF is actively managed and currently holds 25 stocks. Most holdings are domiciled in the U.S. (76% of assets), with smaller holdings in China (12%) and Japan (4%). The fund launched on November 25, 2021 and charges an MER of 0.60% The top 10 stocks make up 44% of the portfolio. Those holdings include Apple, Autodesk, Intel, Electronic Arts, Activision Blizzard, Sony, Meta/Facebook, and Taiwan Semiconductors. This fund holds mostly high-quality, well-established tech stocks, which cuts…