Hi Pat: I am semi-retired and hold individual equities in the major sectors that you recommend. I am searching for suitable ETFs as replacements in some cases. I currently hold Pfizer, Eli Lilly and Teva and want to shift some of this into a broader U.S. health care ETF that includes medical devices and services in addition to pharmaceuticals. Is BMO Equal Weight U.S. Health Care okay to hold? Is there an alternative ETF in U.S. dollars? I would like to keep some U.S. dollar exposure if possible. Thanks.
BMO Equal Weight U.S. Health Care Hedged to CAD Index ETF, $22.62, symbol ZUH on Toronto (Units outstanding: 615,000; Market cap: $13.9 million; www.etfs.bmo.com), holds 48 U.S. health care stocks.
Its top holdings are Boston Scientific at 2.7%; Life Technologies, 2.6%; Calgene Corp., 2.5%; Cigna, 2.5%; Aetna, 2.5%; Thermo Fisher Scientific, 2.5%; Allergan, 2.4%; Gilead Sciences, 2.4%; DaVita HealthCare, 2.4%; and Mylan Inc., 2.4%.
BMO Equal Weight U.S. Health Care Hedged to CAD Index ETF is hedged against movements of the U.S. dollar against the Canadian dollar. Its value rises and falls solely with the stocks in its portfolio. So it would not give you U.S. dollar exposure.
The ETF has a 0.35% MER and a dividend yield of 0.53%.
In general, we think you should stay away from equal-weight funds. As well as incurring periodic charges to rebalance their holdings, they can cut your return by lowering the contribution from top performers if they soar to make up more…
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