Here’s a New ETF Buy

Article Excerpt

IUNITS DIVIDEND INDEX FUND $20.50 (Toronto symbol XDV; buy or sell through a broker) began trading in December, 2005. The fund currently holds the 30 highest yielding Canadian stocks. These stocks are included in the index based on their proportionate dividend-per-share weight. The weight of any one stock in the fund is limited to 10% of the fund’s assets. The fund’s MER is 0.50%. The fund will have a dividend yield of about 3.3%. The fund’s top holdings are CIBC at 7.3%; Manitoba Telecom, 6.4%; Royal Bank, 7.2%; Bank of Montreal, 5.5%; National Bank, 4.8%; TD Bank, 4.7%; Magna International, 4.2%; IGM Financial, 3.7%; Bank of Nova Scotia, 3.9%; and BCE, 3.4%. iUnits Dividend Index Fund is a buy. If you buy it, however, you should adjust your portfolio to offset its over 50% weighting in the Finance sector. sector…

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