Toronto-based First Asset Investment Management Inc. Tuesday announced the launch of two new exchange traded funds (ETFs) that track indices based upon the proprietary factor methodology from Chicago-based Morningstar, Inc.
First Asset Morningstar International Value Index ETF (TSX: VXM) and First Asset Morningstar International Momentum Index ETF (TSX: ZXM) have closed the initial offering of their units and will began trading on the Toronto Stock Exchange (TSX) today.
The ETFs are denominated in Canadian dollars and will be offered in CAD hedged and unhedged versions to provide investors with greater flexibility.
The ETFs are also available in common and advisor units.
These new ETFs represent the only international value and momentum strategies available in Canada, First Asset says.