Toronto-based TD Asset Management Inc. (TDAM) has recently filed prospectus documents for its new lineup of exchange-traded funds (ETF), according to an ETF industry note by Montreal-based National Bank Financial Ltd.
TDAM is looking to bring the following ETFs to the market:
> Canadian Aggregate Bond Index ETF, which will track the S&P Canada aggregate bond index passively and hold Canadian fixed-income securities.
> TD International Equity Index ETF, which will track the S&P EPAC ex-Korea LargeMidCap index and hold international equities passively. Both currency-hedged and non-hedged ETFs will be available.
> TD S&P 500 Index ETFs, which will track the S&P 500 composite index passively and invest in U.S. large-cap stocks. Both currency-hedged and non-hedged funds will also be available for these ETFs.
> TD S&P/TSX Capped Composite Index ETF, which will track the S&P/TSX capped composite index passively and invest in Canadian stocks.
Leo Salom, executive vice president of TD Wealth Management, revealed in late 2015 that the firm would be launching a proprietary suite of ETFs.
This is the second time Toronto-Dominion Bank has ventured into this product space. It had originally launched a line of ETFs in 2001, ahead of other banks, but closed those funds in 2006 because of lagging asset growth and weak trading volume.
TD now joins Royal Bank of Canada and Bank of Montreal among the big banks providing ETFs.