RBC Global Asset Management Inc. (RBCGAM) has launched two new RBC Target Maturity Corporate Bond ETFs, which began trading Wednesday on the Toronto Stock Exchange.
The suite of RBC Target Maturity Corporate Bond ETFs matures in successive years from 2018 to 2025. Each ETF tracks a unique FTSE maturity corporate bond index that maintains a portfolio of Canadian investment grade corporate bonds structured to mature in the same calendar year as the ETF.
When the ETF reaches the maturity date, the ETF’s final net asset value is returned to the current unitholders.
The new ETFs are:
- RBC Target 2024 Corporate Bond Index ETF (Ticker: RQL), which tracks the FTSE Canada 2024 maturity corporate bond index; and
- RBC Target 2025 Corporate Bond Index ETF (Ticker: RQN), which tracks the FTSE Canada 2025 maturity corporate bond index.
Both ETFs carry a management fee of 0.25%; and this fee will decrease to 0.2% in the maturity year.