Canadian ETF assets crossed the $200-billion milestone with one month left in 2019.
November saw ETF inflows of $4.5 billion, the largest monthly inflow of the year so far, and one of the highest on record. No asset class or region shed assets.
Equities led the board, taking in $2.1 billion in November. Equity ETFs inflows were spread among Canada, the U.S. and internationally (developed and emerging markets). The Canadian equity index hit another high in November, with monthly returns exceeding 3%.
Notable ETFs inflows included broad market Canadian equity ETFs and low-volatility ETFs, followed by dividend- and income-themed products. In the U.S., broad market currency-unhedged U.S. equity ETFs occupied top spots, and international equity flows saw their first trade increase in four quarters.
Canadian ETFs attracted $23 billion in flows year-to-date, nearing the $26-billion annual flow record set in 2017.
Fixed-income ETFs followed saw almost $1.9 billion in new assets in November, bringing year-to-date flows to $13 billion. Canada aggregate bond, Canada corporate bond and cash-alternative ETFs saw the largest monthly inflows across all categories. Only Canada government bond ETFs experienced outflows. Foreign bond ETFs attracted $199 million, with 60% of the category’s year-to-date flows in relatively new foreign bond ETFs (launched in the past two years).
Multi-asset ETFs saw a modest $126 million increase in flows.
November saw 16 ETF launches from TD Asset Management, iA Clarington and Evolve, but there was no change in the number of ETF providers.