BlackRock Asset Management Canada Ltd.’s iShares division announced on Tuesday that it’s expanding its Cores series with the addition of a new suite of MSCI Quality Dividend Index ETFs.
The new ETFs offer a low-cost opportunity for investors to access certain company portfolios with above-average dividend yields, the firm says in a statement. Investors will have the option to choose between Canadian, U.S., and global portfolios.
The ETFs also look to mirror MSCI High Dividend Yield Indices, the statement says.
“In an environment where yield can be hard to find, Canadians are looking for new ways to earn persistent sources of income,” says Pat Chiefalo, head of iShares Product at BlackRock Canada, in a statement. “These new products will provide investors with a cost effective dividend that places an emphasis on quality stocks that can help deliver a regular income stream to investors.”
A few of the new ETFs have closed the initial offering of their units and were listed on the Toronto Stock Exchange (TSX) as of Tuesday morning. BlackRock says two more ETFs will be listed on the TSX when markets open June 16.
The firm will also be expanding its Core series by adding two existing iShares fixed-income funds.