Canada’s exchange-traded fund market surpassed CA$1 trillion in assets under management in September, according to data cited in CIBC’s Canadian ETF Weekly Recap. The market reached about CA$1.05 trillion across 2,090 listed ETFs, while year-to-date net creations totaled CA$178 billion, the report said.
Equity ETFs accounted for the largest share of recent flows, attracting CA$3.5 billion, or 77%, of weekly inflows in mid-September, according to the recap. Year-to-date equity inflows have exceeded $81.2 billion, the report said.
Money market ETFs, meanwhile, recorded $111 million in net outflows during the period after attracting CA$660 million in creations earlier in the month, according to CIBC's data. Fixed-income ETFs added CA$708 million, with short-duration bond funds accounting for much of the increase, the report said.
Commodity ETFs attracted another CA$177 million, led by gold-focused products including the iShares Gold Bullion ETF (CGL) and BMO Gold Bullion ETF (ZGLD), according to the recap.
At the issuer level, RBC iShares held more than CA$278 billion in assets, while BMO Global Asset Management had about CA$194 billion, the report said. Vanguard Canada had approximately CA$176 billion in assets and ranked second in year-to-date inflows with CA$29.8 billion, according to the data.
The report said ETF net creations in Canada are running at roughly 2.5 times the pace of open-end mutual fund inflows, despite ETFs accounting for about 25% of total fund assets.