The winning submission for Toronto-based First Asset Capital Corp.’s Search for Canada’s Next Top ETF contest is First Asset DEX 1-5 Year Laddered Government Strip Bond Index ETF.

The exchange traded fund is the first of its kind in Canada and will replicate the performance of the Canadian 1–5 year laddered government strip bond index, net of expenses. The ETF will invest primarily in strip bonds from domestically issued Canadian provincial and federal government bonds in Canadian dollars. The new fund will launch on June 11.

As part of the challenge, advisors from across Canada submitted a 50-word descriptions of their ETF recommendations between February 14 and March 31. The ETF suggestions were then screened against viability criteria and voted on by the First Asset selection team.

First Asset seeks advisor input in new ETF challenge

The idea for the strip bond ETF came from Justin Bender of PWL Capital Inc. in Toronto. Bender chose the Centre for Addiction and Mental Health (CAMH) as his charity of choice for the $10,000 first prize donation.

Scotia McLeod Inc.’s Dean Bradshaw’s submission took second place and a $5,000 donation was made to the Tom Baker Cancer Centre, while another $5,000 was donated to Big Brothers and Big Sisters of Ingersol for Mark Williams’, BMO Nesbitt Burns, third place entry.