Grand opening, cutting red ribbon

Toronto-based Fidelity Investments Canada ULC launched two new high-income ETFs on Wednesday. 

The Fidelity Canadian Monthly High Income ETF invests in Canadian and foreign equity and fixed income securities, with an emphasis on Canada. The Fidelity Global Monthly High Income ETF invests only in foreign securities.

The new funds, which began trading on the Toronto Stock Exchange on Wednesday, are actively managed by Fidelity’s Global Asset Allocation team and aim to create a steady flow of income with potential for capital gains, according to a release. They are also available in mutual fund versions.

Fidelity also launched Fidelity U.S. Growth Opportunities Class on Wednesday. Managed by Kyle Weaver, the class targets U.S companies that can create significant value over a three- to seven-year period. It is available in both a U.S. dollar option and a systematic currency hedged version.