At a time when many governments around the world are increasing their defence spending, two ETF providers have launched products investing in the defence and aerospace sector.
On Monday, Ninepoint Partners LP announced the launch of the Ninepoint Enhanced Aerospace and Defense HighShares ETF (TSX: EDHI). The actively managed fund provides investors with exposure to several global aerospace and defence companies, including defence contractors and companies developing cybersecurity-related technologies. Currently, the fund has 11 holdings, each capped at 9.09%, including GE Aerospace, Lockheed Martin Corp., Palantir Technologies Inc. and the Ninepoint HighShares SpaceX ETF (TSX: SXHI).
EDHI employs a covered call strategy and modest leverage, aiming to achieve potentially higher income and long-term capital appreciation. It has a high risk rating and management fee of 0.55%.
In addition to that fund, the firm rolled out the Ninepoint Enhanced U.S. Equity HighShares ETF (TSX: USHI), which will hold roughly 25 U.S. large-cap companies across a range of sectors. It also uses covered calls and up to 33% leverage. EDHI has a medium to high risk rating and management fee of 0.4%.
Prior to Ninepoint’s announcement, Evolve Funds Group Inc. launched the Evolve Global Defense & Aerospace Index ETF on Aug. 20. It’s available in Canadian-dollar hedged units (TSX: CAMO) and Canadian-dollar unhedged units (CAMO.B), and has a high risk rating and management fee of 0.6%.
CAMO seeks to track the performance of the Solactive Global Leaders Defense & Aerospace Index. It invests in about 30 global defence and aerospace companies, with 75% of those companies being outside of the U.S., a release noted. Top holdings include BAE Systems plc, Rolls-Royce Holdings plc and Safran S.A., multinational aerospace and defence companies headquartered in Europe.
Evolve’s release cites the SIPRI Military Expenditure Database, which reported that global military spending reached a record US$2.9 trillion in 2025, with roughly two thirds of that spending being outside the U.S.
TDAM debuts pair of funds
TD Asset Management Inc. (TDAM) has debuted a new bond mutual fund and an international equity ETF.
The TD Diversified Bond Pool is an actively managed fund that mainly provides exposure to investment-grade government and corporate bonds but can hold up to 25% in non-investment-grade securities. It targets a duration of three to four and a half years to limit interest rate risk and will provide exposure to “multiple sectors across the global credit spectrum,” a release said. It has a low risk rating and its management fees vary depending on the series. The fund’s performance is benchmarked against the FTSE Canada Short Term Corporate A Bond Index (70%) and FTSE Canada Mid Term Corporate A Bond Index (30%).
Meanwhile, the TD Q International Dividend ETF (TSX: TQID) uses a quantitative approach to identify and primarily invest in “income-producing” securities of issuers outside of Canada and the U.S., which may include dividend-paying common and preferred shares and REITs. It has a medium risk rating and management fee of 0.4%.
CI GAM, Munro Partners introduce new fund offerings
CI Global Asset Management (CI GAM) has introduced new “growth-oriented” fund offerings that are sub-advised by Australia-based Munro Partners, it announced Tuesday. It also tweaked the name of an existing fund.
The new offerings include:
- CI Munro International Growth Equity Fund, which is now also offered in a Canadian-dollar ETF series (TSX: CMIG) and a U.S.-dollar-hedged ETF series (TSX: CMIG.U), along with existing mutual fund series. The ETF series has a medium risk rating and a management fee of 0.9%. The fund invests in equities issued by companies from around the world.
- CI Munro International Growth Equity Corporate Class, which is offered in mutual fund series A, AH, F, FH, I, IH, P and PH. The fund will invest primarily in units of CI Munro International Growth Equity Fund, providing exposure to companies located primarily outside of Canada and the U.S. It has a medium risk rating and its management fees vary depending on the series.
- CI Munro Global Growth Small/Mid Cap Equity Corporate Class, which is offered in mutual fund series A, AH, F, FH, I, IH, P and PH. The fund invests in small and medium-cap companies from around the world. It has a medium to high risk rating and its management fees vary depending on the series.
Also, CI GAM said the CI Global Climate Leaders Fund has been renamed CI Munro Global Energy Transition Fund, effective Tuesday.
“The new name better reflects the fund’s investment mandate, given that climate change represents the problem, while energy transition represents the solution,” the firm said in a release. “The change provides clarity for investors, as well as ensuring consistency with the names of other CI GAM funds sub-advised by Munro.”
Canada Life expands seg fund lineup
The Canada Life Assurance Company (Canada Life) has expanded its segregated fund offerings with new investment options available for estate protection policies and for contributions made when an annuitant is above the age of 90. A full list of the new options is available here.
The firm has also brought on new funds that are managed by PIMCO Canada Corp. and EdgePoint Investment Group Inc.
Managed by PIMCO, Canada Life’s new Monthly Income segregated fund will invest in the PIMCO Monthly Income Fund (Canada), providing investors with exposure to various sectors across global fixed-income markets.
It’s also got a new Global Companies seg fund, managed by EdgePoint, which will invest in the EdgePoint Global Portfolio. EdgePoint has also taken over as manager of two existing Canada Life seg funds, the Canadian Companies (previously Canadian Focused Value Stock) and Canadian Growth and Income (previously Canadian Growth Balanced II) funds, which have undergone name changes and tweaks to their investment strategy and/or availability.
Canadian Securities Exchange gets its first ETF listing
The Canadian Securities Exchange (CSE) recently welcomed its first ETF listing.
Caldwell Investment Management Ltd. rolled out the ETF series of the Caldwell-Lazard CorePlus Infrastructure Fund on the exchange on Aug. 17, under the ticker symbol CPIF.
The actively managed fund has a diversified portfolio of global infrastructure stocks. It has a low to medium risk rating and its new ETF series has a management fee of 1%.
“The listing of the Caldwell-Lazard CorePlus Infrastructure Fund is a landmark event for the CSE,” said Stuart Schady, the CSE’s vice-president, business development, in a release.
“The fund is the first ETF to list on the exchange, effectively levelling the playing field with other exchanges and enabling us to better meet the needs and expectations of both issuers and investors. We look forward to listing many more ETFs in the future.”
Mackenzie announces portfolio manager change
Mackenzie Investments has announced the departure of a portfolio manager on its “Quality Equity” team.
In a release, it said Tyler Hewlett, managing director and portfolio manager, will be leaving Mackenzie, effective Oct. 9 “to pursue a new opportunity.”
As a result, Hewlett will no longer serve as a portfolio manager for the following funds:
- Mackenzie Bluewater Canadian Growth Balanced Fund
- Mackenzie Bluewater Canadian Growth Fund
- Mackenzie Bluewater Global Growth Fund
- Mackenzie Bluewater Global Growth Balanced Fund
- Mackenzie Bluewater North American Balanced Fund
- Mackenzie Bluewater North American Equity Fund
- Mackenzie Bluewater US Growth Fund
- Mackenzie FuturePath Global Equity Balanced Fund
- Mackenzie FuturePath Global Growth Fund
- Mackenzie FuturePath US Growth Fund
Those funds will continued to be managed by portfolio managers Shah Khan and Dave Taylor, who also serve as managing director and vice-president, respectively, at the firm, and supported by the team at large.
The Mackenzie Bluewater Next Gen Growth Fund and Mackenzie Bluewater Next Gen Growth ETF, which were also co-managed by Hewlett, will continue to be managed by Taylor and supported by the team.
Franklin Templeton proposes fund mergers
Franklin Templeton Canada has announced several changes, including proposed fund mergers, along with some fund series terminations and additions.
For one, it said it’s proposing tax-deferred mergers for the following funds:
- Franklin Global Growth Fund (terminating) would be merged into Franklin Innovation Fund (continuing)
- Franklin Unconstrained Global Equity Fund (terminating) would be merged into Franklin Global Core Equity Fund (continuing)
- Franklin ClearBridge Canada Plus Equity Fund (terminating) would be merged into Franklin Canadian Core Equity Fund (continuing)
Investors can vote on the proposed mergers at meetings to be held on or around Nov. 25 in Toronto. Subject to the required investor approvals, the funds will be merged on or around Dec. 4. The terminating funds are closed to new purchases as of Wednesday.
Additionally, series FT-hedged, T, T-hedged and T-USD of the Franklin Unconstrained Global Equity Fund will be discontinued on or around Nov. 27, “as these series are not offered in the continuing fund,” a release said.
Meanwhile, A-hedged, F-hedged and O-hedged series units of Franklin Global Core Equity Fund are expected to be launched on or around Nov. 27.
More details about the proposed fund mergers and series changes will be made available at franklintempleton.ca on or around Oct. 26. Investors will also receive advance notice of the proposed changes.