Two new ETFs for Canadian investors

Article Excerpt

This month we highlight an ETF that targets “technology innovators” at a challenging time. We also look at a Canadian-listed ETF that invests in the U.S. corporate preferred securities market. TD GLOBAL TECHNOLOGY INNOVATORS INDEX ETF $6.77 (Toronto symbol TECI) aims to invest in “technology innovators” that it sees as having high growth rates and are more profitable than their peers. U.S. equities make up 60% of the portfolio with smaller allocations to Canada, Europe, Asia, and Latin America. The ETF holds 111 stocks, with Advanced Micro Devices, Snowflake, Shopify, Sea Ltd., Mercadolibre and Block among its top stocks. The ETF generally does not include any of the market’s largest technology companies. The fund launched on November 23, 2021; it charges a management fee of 0.45% and has a small asset base of $2.2 million. The ETF did not have a good start as it launched at a time when the market sentiment towards technology stocks started to turn sharply negative. The fund has lost 28% of its…