New ETFs for Canadian investors

Article Excerpt

This month we highlight an ETF from Invesco that invests in metals used for electric vehicles and batteries. We also highlight an ETF from RBC iShares aimed at providing access to a global portfolio of stocks engaged in “exponential technologies.” INVESCO ELECTRIC VEHICLE METALS COMMODITY STRATEGY ETF $27.84 (New York symbol EVMT) invests in metals that are commonly used in the manufacture of electric vehicles and batteries. The ETF invests in a diverse basket of futures contracts to get exposure to those metals—specifically copper, aluminum, nickel, cobalt, and iron ore. The fund launched on April 27, 2022, and charges a management fee of 0.59%. It has attracted $26.6 million of assets since its launch. This ETF has conceptual appeal as a commodity fund linked to the shift away from fossil fuels. However, investors in this new fund are buying at a time when prices of many commodities are at highs. The outlook for commodity demand is very positive. However, copper, nickel and so on could fall victim to…