BlackRock subsidiary iShares has launched two funds that offer exposure to the U.S. mid-cap sector. Those are the iShares S&P U.S. Mid-Cap Index ETF and a Canadian-hedged version of the same fund, both of which have a management fee of 0.15%.

Both funds aim to provide long-term capital growth by replicating the performance of the S&P MidCap 400 Index and the S&P MidCap 400 CAD Hedged Index, respectively. Under normal market conditions, each fund will invest in securities of one or more ETFs managed by BlackRock Canada (or by an affiliate), as well as directly in U.S. securities.

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This is a fund of funds so kind of useless. Given the tax treaty with the US, investors are better off buying the US listed ETF directly.

Monday, August 10 @ 4:09 pm //////

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