Yesterday I was doing some Googling and stumbled across a tool that might be of interest to exchange-traded fund (ETF) investors: an online screener for Canadian ETFs. It seems to have only just recently been added to the Web. The folks at www.advisor.ca are the providers and BMO Financial Group is the exclusive sponsor.
The home page features a user-friendly table. By clicking on the headers, the ETFs can be ordered by MERs and performance. A preliminary (not for attribution) top-10 list of ETFsin terms of performance is shown below (with minor edits).
If you complete the free registration, you can perform three additional functions with the screener:
- search for ETFs by variables such as MERs, performance, top-10 holdings and allocations to sectors, regions and asset classes.
- generate side-by-side comparisons for two selected ETFs
- using the correlation calculator, find ETFs that can lower the volatility of a portfolio.
The last of the three is kind of neat. It lets you input your portfolio asset allocation and then outputs a list of ETFs along withtheir correlations to your portfolio. The ones with high positive correlations wont improve efficiency (or risk-adjusted expected returns) as much as ones with lower or negative correlations.
The screener is in beta mode, so it might be a good idea to cross-check resultswith other sources for now. If you come across any anomalies, drop www.advisor.caa line at the email on the filter’s homepage.
The screener can be found at ETFFilter.
Table 1 (prelim): Top-10Canadian ETFs by 1-year performance to Jan. 31
Horizons BetaPro MSCI Emerging Markets Bull Plus HJU (135.5%) Horizons BetaPro S&P/TSX Global Base Metals Bull Plus HMU (97.2%) Horizons BetaPro NASDAQ-100 Bull Plus HQU (95.4%) Horizons BetaPro S&P/TSX Capped Financials Bull Plus HFU (93.4%) Claymore BRIC CBQ (66.5%) Horizons BetaPro S&P/TSX Capped Energy Bull Plus HEU (66.0%) Claymore Oil Sands Sector CLO (59.0%) iShares CDN REIT Index Fund XRE (56.5%) iShares CDN SmallCap Index Fund XCS (56.2%) Horizons BetaPro S&P 500 Bull Plus HSU (55.1%)