Toronto-based TD Asset Management Inc. (TDAM) officially launched its new exchange-traded fund (ETF) lineup on Wednesday.
The six passive ETFs are currently available for purchase on the Toronto Stock Exchange, according to the firm’s announcement.
The lineup includes TD Canadian Aggregate Bond Index ETF, which tracks an index that measures the investment return of Canadian dollar-denominated, investment-grade, publicly issued debt. This includes securities issued by governments and corporate issuers. The annual management fee for this product is 0.1%.
ETFs that focus on international equities include TD International Equity Index ETF and a Canadian dollar-hedged version, TD International Equity CAD Hedged Index ETF. They track the performance of an index that measures the investment return of mid- and large-capitalization issuers in the European, Asian and Far East regions, excluding South Korea. Both ETFs come with an annual management fee of 0.18%.
There are also TD S&P 500 Index ETF and TD S&P 500 CAD Hedged Index ETF, which both track the broad U.S. equities market index that focuses on large-cap U.S. stocks. The annual management fees for these two products are 0.1%.
TD S&P/TSX Capped Composite Index ETF tracks an index that measures the investment return of publicly traded securities in the Canadian market. Its annual management fee is 0.07%.
“Our goal is to bring new thinking to the table and to create solutions that meet the changing needs of our clients,” says Tim Wiggan, CEO of TDAM, in a statement. “With our longstanding experience managing ETFs for institutional clients, this is a natural extension of our offerings by providing more choice and flexibility to investors.”
This is Toronto-Dominion Bank’s second foray into the ETF market. It had originally launched a line of ETFs in 2001 but closed those funds in 2006 because of lagging asset growth and weak trading volume.
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