Offerings address different sectors, aim to provide investors with flexibility
TD Asset Management Inc. (TDAM), a subsidiary of TD Bank Group, has launched three new TD Exchange-Traded Funds (TD ETFs) on the Toronto Stock Exchange (TSX) to expand its solution suite.
The new ETFs include the TD Canadian Bank Dividend Index ETF, the TD Global Technology Leaders CAD Hedged Index ETF, and the TD Active U.S. Enhanced Dividend CAD Hedged ETF.
"The financial sector is an important pillar of our society and one of the largest sectors in the Canadian investment landscape whose performance drives the growth of the overall Canadian market. Canadian banks are resilient, highly diversified, and profitable companies. That's why we're proud to launch the TD Canadian Bank Dividend Index ETF - a simple way to help investors build long-term wealth through exposure to the largest Canadian banks and a focus on dividend growers," Bruce Cooper, CEO, TDAM, and Senior Vice President, TD Bank Group, said in a press release.
- TBNK, the TD Canadian Bank Dividend Index ETF, tracks the performance of a Canadian bank dividend index that measures the investment return of equity securities of the largest Canadian banks and puts more weight on banks with higher dividend growth.
- TECX, the TD Global Technology Leaders CAD Hedged Index ETF, aims to track the performance of a global equity index, which measures the investment return of global mid- and large-capitalization issuers related to technology, including disruptive technology-related companies across the globe, hedged to the Canadian dollar. An unhedged version, TEC, and a U.S. dollar version, TEC.U, are also available.
- TUEX, the TD Active U.S. Enhanced Dividend CAD Hedged ETF, offers investors exposure to competitively positioned large-capitalization dividend-paying U.S. companies with a focus on total return (income and moderate capital growth), hedged to the Canadian dollar.
Option writing is actively employed to help enhance yield and reduce risk as part of the fund's strategy. An unhedged version, TUED, and a U.S. dollar version, TUED.U, are also available.
"With the addition of two new currency-hedged versions of popular TD ETFs, we continue to expand on our suite of Canadian Dollar-Hedged ETF offerings, providing investors with additional flexibility when considering foreign investments. We're strengthening our commitment to Canadian investors to inspire greater choice and new vehicles to embrace opportunities in the growing ETF market," Cooper added.
