Questrade Wealth Management has launched its suite of Questrade Smart ETFs, its first ETFs to be launched in Canada, with the recent listing of six exchange traded funds on the Toronto Stock Exchange (TSX).
The six ETFs include four U.S. sector ETFs and two U.S. midcap ETFs, all based on Russell Indexes.
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The Questrade Russell US Midcap Value Index ETF (QMV) and Questrade Russell US Midcap Growth Index ETF (QMG) are based on the Russell Midcap Value Index and the Russell Midcap Growth Index, respectively, and are hedged to the Canadian dollar.
These two indexes seek to provide exposure to midcap U.S. companies exhibiting stronger value or growth characteristics.
The Questrade Russell 1000 Equal Weight US Technology Index (QRT), Healthcare Index (QRH), Consumer Discretionary Index (QRD) and US Industrials Index (QRI) ETFs are based on the Russell 1000 Equal Weight Sector Indexes, and are also hedged to the Canadian dollar.
These new indexes are designed to represent the performance of companies within specific sectors of the U.S. large cap Russell 1000 Index.
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By GlobalDataRussell’s equal weight index methodology equally weights securities within each sector, helping to mitigate security specific risk and offer balanced exposure to particular industry sectors.
Russell Indexes global managing director for research and innovation Rolf Agather said, "We are excited that Questrade has selected Russell Indexes as the basis for its first suite of Canadian ETFs. Russell has been a pioneer in style indexes since the introduction of the Russell Growth & Value Indexes in 1987. And the Russell 1000® Equal Weight Sector Indexes combine Russell’s leadership in market cap weighted U.S. equity market benchmarks with Russell’s growing smart beta index capabilities."
Questrade Financial Group president and CEO Edward Kholodenko added, "Working with Russell Indexes for the release of our first Questrade Smart ETFs has been exceptional. We share a philosophy of driving business innovation for the benefit of investors. Our launch family of six ETFs is distinctive in the Canadian marketplace and fills a clear need."
