Canadian ETF market nears $924B as bond funds lead weekly surge
The iShares Core Canadian Universe Bond Index ETF (XBB CN) pulled in $337 million – the week’s largest individual inflow – followed by the Vanguard Canadian Short-Term Bond Index ETF (VSB CN) at $214 million and the iShares Core Canadian Short Term Corporate Bond Index ETF (XSH CN) at $176 million.
Money market ETFs also saw robust demand, drawing $697 million for the week. The Purpose High Interest Savings Fund (PSA CN) collected $210 million and the CI Money Market ETF (CMNY CN) attracted $165 million, with the latter’s weekly inflows accounting for nearly 140 per cent of its existing assets under management – a signal of significant new-money activity rather than existing holder additions.
From a maturity perspective, mixed-maturity and short-term fixed income strategies attracted the most capital, at $764 million and $447 million respectively, reflecting continued advisor and investor preference for duration-light positioning.
Equity flows: divergence at the index level
Equity ETFs posted net inflows of $1.0 billion, though the picture within that headline was far from uniform.
The week’s largest individual equity inflows went to the Mackenzie US Large Cap Equity Index ETF (QUU CN) at approximately $419 million, according to CIBC data, followed by the iShares Core Equity ETF Portfolio (XEQT CN) at $316 million and the Mackenzie International Equity Index ETF (QDX CN) at $264 million.
