Calgary-based SmartBe Wealth Inc. has four new value and momentum factor ETFs listed on the NEO Exchange.
The SmartBe U.S. Quantitative Value Index ETF invests in 50 U.S. publicly traded value stocks. The SmartBe Canadian Quantitative Value Index ETF invests in 20 Canadian publicly traded value stocks.
Both value funds invest in securities that are considered undervalued based on quantitative analysis, according to a release.
The SmartBe U.S. Quantitative Momentum Index ETF invests in 50 U.S. publicly traded momentum stocks. The SmartBe Canadian Quantitative Momentum Index ETF invests in 20 Canadian publicly traded momentum stocks.
Both momentum funds invest in companies that have recently had higher total return performance compared to other securities.
Each of the new funds has a management fee of 0.69%.
These new funds bring SmartBe’s total number of ETFs to five. The asset manager launched is first fund, the SmartBe Global Value Momentum Trend Index ETF, in 2019.
“[These] value and momentum ETFs for Canada and the U.S. will enable investors to customize their portfolios and access returns that are highly differentiated from their respective market indices,” said Rod Heard, founder and CEO of SmartBe, in the release.