Equity: Canada - Total Market
With 6 ETFs and over $6.79B in combined AUM, the Equity: Canada - Total Market segment provides exposure to the Canada space with a focus on Total Market securities.
Year-to-date, the best-performing ETF in the segment is the JPMorgan BetaBuilders Canada ETF (BBCA), with a total return of 25.56%. Meanwhile, the most popular ETF is the JPMorgan BetaBuilders Canada ETF (BBCA) with $3.89BB in assets under management.
Investors should take a look at the iShares MSCI Canada ETF (EWC). This fund has been chosen as an Analyst Pick by FactSet, thus is the best ETF for the average investor. EWC tracks a market-cap-weighted index of Canadian stocks. It captures 85% of the publicly available market, excluding all small-caps. EWC has an expense ratio of 0.47% and tracks the MSCI Canada Custom Capped Index.
ETF.com Efficiency Insight
The average efficiency score in the Equity: Canada - Total Market segment is 59 out of 100, with the First Trust Canada AlphaDEX Fund(FCAN) obtaining the highest rating of 64 out of 100.
Costs dominate the discussion around efficiency. ETFs in the segment have an average expense ratio of 0.36% per year, with the Franklin FTSE Canada ETF (FLCA) having the lowest expense ratio, charging investors 0.09% yearly.
Investors should look for funds with tight tracking, such as the iShares Currency Hedged MSCI Canada ETF (HEWC), with a 12-month median tracking difference of 0.06%.
ETF.com Tradability Insight
The average tradability score in the Equity: Canada - Total Market segment is 67 out of 100, with the iShares MSCI Canada ETF(EWC) obtaining the highest rating of 97 out of 100.
The iShares MSCI Canada ETF (EWC) is the undisputed segment leader when it comes to liquidity. The fund trades 52.92M in daily average volume. Investors should also find ample liquidity in the JPMorgan BetaBuilders Canada ETF (BBCA), with $4.10M in daily dollar volume.
Use limit orders to trade funds such as the iShares Currency Hedged MSCI Canada ETF(HEWC), due to their double-digit market spreads.
ETF.com Fit Insight
The MSCI Canada IMI has been selected as the index that most accurately represents the market in question. The benchmark has been selected by the ETF Analytics team at FactSet, according to a series of guidelines to ensure this index accurately captures its market.
Investors trying to match a broad market exposure should pay attention to EWC. This fund obtains a high Fit score and investors should capture market-like returns.
Other funds diverge from the market, by nature of their investment mandates; for example, HEWC follows a Currency Hedged Vanilla strategy and obtains a low Fit score compared with our neutral benchmark.