The popularity of exchange-traded funds (ETF) in Canada has reached new heights as the Toronto Stock Exchange (TSX) announced on Wednesday that it has more than 400 listings for these products.
The presence of more than 400 listings on the TSX means the number of ETFs has more than doubled on Canada’s largest stock exchange since 2011, according to the TSX’s announcement. It also brings the total market capitalization for ETFs to approximately $106 billion as of April 30.
“The ETF segment continues to be a phenomenal growth story domestically, fuelled by Canadian ETF providers’ continuous innovation in product offerings,” says Nick Thadaney, president and CEO of global equity capital markets with the TSX’s parent firm, Toronto-based TMX Group Ltd. “TMX remains committed to supporting its clients and the continuing evolution of the ETF.”
The TSX has welcomed four new ETF providers since the beginning of 2016, including mutual fund giants Mackenzie Financial Corp. and TD Asset Management Inc., both based in Toronto. The exchange is now home to 16 ETF providers in total.
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