Hi, Pat: With oil representing a significant portion of the S&P/TSX 60 Index, do you recommend selling this ETF if you don’t want to hold too much in oil and gas stocks? Thanks.
The iShares S&P/TSX 60 Index ETF, $22.14, symbol XIU on Toronto, has about 21% of its assets in what are classified as “energy stocks.”
However, the S&P/TSX 60 Index’s energy component includes a number of companies we would classify as utilities, such as Enbridge, TransCanada Corp. and Pembina Pipeline. The “energy” component also includes uranium miner Cameco.
Removing those utility and resource stocks takes the index’s oil and gas component down to 13% or so. That’s a reasonable amount to hold as part of the oil and gas segment in a well-balanced portfolio’s Resources component. component…
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