Fidelity Investments Canada is set to launch a suite of factor-based ETFs and mutual funds for financial advisers and individual investors.
The exchange-traded funds are set to begin trading for income-seeking investors next week on the Toronto Stock Exchange.
“Factor investing offers tremendous opportunity to bring innovation to the Canadian marketplace. Launching our new Fidelity Dividend Factor ETFs and mutual funds reinforces our commitment to delivering an exceptional experience to our clients, an experience not just in terms of the quality and breadth of the offering but also our innovative approach to investment management,” said Rob Strickland, head of Fidelity Investments Canada.
Investors can trade any of the six ETFs separately. Fee-based investors can also purchase any of the funds as an F-class mutual fund.
Mutual fund investors can also opt to purchase all of the funds in a single investment product to be called the Fidelity Tactical Global Dividend ETF Fund.
Management fees for all the ETFs and mutual funds range from 0.35% to 0.45%.
The company – Canada’s fourth-largest mutual fund firm, with C$136bn in assets under management – first explored entering the Canadian ETF market in August, 2017.
The new funds will be:
Fidelity Canadian High Dividend Index ETF (FCCD)
Fidelity U.S. Dividend for Rising Rates Index ETF (FCRR)
Fidelity U.S. Dividend for Rising Rates Currency Neutral Index ETF (FCRH)
Fidelity U.S. High Dividend Index ETF (FCUD)
Fidelity U.S. High Dividend Currency Neutral Index ETF (FCUH)
Fidelity International High Dividend Index ETF (FCID).
“Fidelity’s Dividend Factor ETFs and mutual funds are designed to be an effective way for investors to obtain various exposures or to implement particular investment strategies,” said Andrew Clee, vice president ETFs at Fidelity Investments Canada.