RBC iShares Launches First of its Kind ETFs for Canadians Investing in U.S. Equity Markets
July 11 2024 - 8:00AM
Today, RBC iShares expands its exchange traded fund (“ETF”) lineup
with the launch of the industry’s only S&P 500 3% Capped Index
ETFs, furthering choice and access for Canadians seeking to
diversify their investments in U.S. equity markets.
iShares S&P 500 3% Capped Index ETF and
iShares S&P 500 3% Capped Index ETF (CAD-Hedged) seek to
provide long-term capital growth by replicating, to the extent
possible, the performance of the S&P 500 3% Capped Index and
the S&P 500 3% Capped CAD Hedged Index respectively, net of
expenses. The new ETFs offer diversification across different
companies and sectors by capping securities in the index at 3%
weight, potentially reducing concentration risk.
The two ETFs will be managed by BlackRock Canada
and will begin trading today on the Toronto Stock Exchange under
the ticker symbols noted below.
Fund Name |
Ticker |
Annual Management Fee |
iShares S&P 500 3% Capped Index ETF |
XUSC (CAD Units); XUSC.U (USD Units) |
0.12% of NAV |
iShares S&P 500 3% Capped Index ETF (CAD-Hedged) |
XSPC |
0.12% of NAV |
Helen Hayes, Head of iShares Canada,
BlackRock:
“The launch of these two ETFs marks a global
first, enabling Canadian investors to track the S&P 500 3%
Capped Index and the S&P 500 3% Capped CAD Hedged Index. The
ETFs are designed to address a key investor need amid investors’
growing concerns of mega cap company concentration, while seeking
to provide close alignment with the flagship U.S. equity benchmark
- the S&P 500 Index.”
About BlackRock
BlackRock's purpose is to help more and more
people experience financial well-being. As a fiduciary to investors
and a leading provider of financial technology, we help millions of
people build savings that serve them throughout their lives by
making investing easier and more affordable. For additional
information on BlackRock, please
visit www.blackrock.com/corporate.
About iShares
iShares unlocks opportunity across markets to
meet the evolving needs of investors. With more than twenty years
of experience, a global line-up of 1400+ exchange traded funds
(ETFs) and US$3.7 trillion in assets under management as
of March 31, 2024, iShares continues to drive progress for the
financial industry. iShares funds are powered by the expert
portfolio and risk management of BlackRock.
iShares® ETFs are managed by BlackRock Asset
Management Canada Limited.
Commissions, trailing commissions, management
fees and expenses all may be associated with investing in iShares
ETFs. Please read the relevant prospectus before investing. The
funds are not guaranteed, their values change frequently and past
performance may not be repeated. Tax, investment and all other
decisions should be made, as appropriate, only with guidance from a
qualified professional.
About RBC Global Asset
Management
RBC Global Asset Management (RBC GAM) is the
asset management division of Royal Bank of Canada (RBC). RBC GAM is
a provider of global investment management services and solutions
to institutional, high-net-worth and individual investors through
separate accounts, pooled funds, mutual funds, hedge funds,
exchange-traded funds and specialty investment strategies. RBC
Funds, BlueBay Funds, PH&N Funds and RBC ETFs are offered by
RBC Global Asset Management Inc. (RBC GAM Inc.) and distributed
through authorized dealers in Canada. The RBC GAM group of
companies, which includes RBC GAM Inc. (including PH&N
Institutional) and RBC Indigo Asset Management Inc., manage
approximately $625 billion in assets and have approximately 1,600
employees located across Canada, the United States, Europe and
Asia.
RBC iShares ETFs are comprised of RBC ETFs
managed by RBC Global Asset Management Inc. and iShares ETFs
managed by BlackRock Asset Management Canada Limited. Commissions,
trailing commissions, management fees and expenses all may be
associated with investing in ETFs. Please read the relevant
prospectus before investing. ETFs are not guaranteed, their values
change frequently and past performance may not be repeated. Tax,
investment and all other decisions should be made, as appropriate,
only with guidance from a qualified professional.
® / TM Trademark(s) of Royal Bank of Canada.
Used under license. iSHARES is a registered trademark of BlackRock,
Inc., or its subsidiaries in the United States and elsewhere. Used
under license. © 2024 BlackRock Asset Management Canada Limited and
RBC Global Asset Management Inc. All rights reserved.
Contact for Media: Reem Jazar
Email: reem.jazar@blackrock.com
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