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Tag: all-in-one etf

  • BMO splits value of asset-allocation ETFs – MoneySense

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    ZBAL, for instance, was trading Tuesday (August 19) at approximately $14.20. Last week at this time, a unit of ZBAL cost more than $40. Unitholders as of August 15 received two additional units of the funds affected for every unit held.

    “By lowering fees recently and by announcing these unit splits today, BMO Asset Management is delivering on its commitment to make its asset-allocation ETFs even more accessible to Canadian investors,” Sara Petrcich, BMO’s head of ETFs and alternatives, said in a news release.

    †Canadian-dollar denominated units of ZMI did not undergo a split.

    Why stocks and ETFs are split

    Stock splits are usually undertaken by fast-growing companies and those whose stock prices rise over $100. By increasing the number of shares outstanding and diluting their value, they lower the stock price within the reach of more retail investors without affecting market capitalization or the equity held by existing shareholders. Splits also enable more stock purchases through dividend reinvestment plans (DRIPs). Some issuers prefer to let their stock prices rise indefinitely, however.

    In recent years, a growing number of online brokerages, including TD Direct Investing and Wealthsimple Trade, have begun to offer fractional-share units of high-priced stocks to enable more small investors to buy them. In addition, many premium-priced foreign stocks are now available in the form of lower-priced Canadian Depository Receipts (CDRs). The advent of commission-free trading has further encouraged investors to buy stocks and ETFs in small lots. 

    MoneySense’s ETF Screener Tool

    BMO sets a precedent for splitting asset-allocation ETFs

    These ETF splits aren’t the first in Canada, but BMO is the first to split the units of its asset-allocation ETFs. These all-in-one ETFs hold complete portfolios of global stocks and bonds, giving investors diversified exposure to the public equity and fixed-income markets at a low cost. 

    BMO’s asset-allocation funds mostly carry a management expense ratio (MER) of 0.2% of assets under administration per year, on par with rival iShares and slightly lower than Vanguard (0.24%), which introduced asset-allocation ETFs to Canada in 2019.

    Comparable Vanguard Balanced ETF Portfolio (VBAL) units traded for $35.24 on August 19; iShares Core Balanced ETF (XBAL) units, for $31.93; Global X Balanced Asset Allocation Class A (HBAL) units, for $16.67; and TD Balanced ETF Portfolio (TBAL) units, for $20.09, making BMO’s funds the most affordable ETFs in the market niche.

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    BMO seems to be calculating that lower-priced ETFs will give it an edge in a competitive market and attract new investors whose business could become more lucrative over time. We will see whether its rivals respond.

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    About Michael McCullough


    About Michael McCullough

    Michael is a financial writer and editor in Duncan, B.C. He’s a former managing editor of Canadian Business and editorial director of Canada Wide Media. He also writes for The Globe and Mail and BCBusiness.

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    Michael McCullough

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  • Robo-advisor or all-in-one ETF: which is best for new investors? – MoneySense

    Robo-advisor or all-in-one ETF: which is best for new investors? – MoneySense

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    In my opinion, the best thing about the evolution of the investment industry is a (slight) increase in transparency. There is a long way to go, and consumers are still disadvantaged in a lot of ways, but we are making progress.

    I am also of the opinion that not everyone should be a self-directed investor. Sure, it can be relatively easy, but having worked directly with thousands of clients during my career, I can also say that does not matter to some people who would never think of pressing the buy and sell button themselves. 

    Investment professionals are better off working with clients who do not want to micromanage them. Conversely, investors who want to take control of their own portfolios have lots of tools at their disposal. I like to see everyone investing in the way most suited to their situation. Below, I explore two important innovations that have appeared over the past decade that can lower the cost of managing an investment portfolio for retail investors.

    How ETFs changed the game

    The first Canadian mutual fund was introduced in 1932, but it was not until the past 40 years that they became mainstream. The past 10 years have started to show a shift in demand from investors to exchange-traded funds (ETFs), but mutual fund assets still dwarf that of ETFs. In fact, though the ETF market is growing faster, the mutual fund market in Canada is still about five times bigger (about $2 trillion compared to about $400 billion).

    An investor can build an ETF portfolio using individual components like a Canadian stock ETF, a U.S. stock ETF, a global stock ETF, and a bond ETF. They can buy ETFs that track stock market sectors and complement these ETFs with individual stocks.

    There are over 1,100 ETFs in Canada with 40 fund sponsors and easy access to thousands of U.S.-listed ETFs as well.

    The selection is enough to make your head spin and almost necessitates the use of an advisor to wade through the options. More and more advisors are using ETFs throughout their client portfolios, but a new class of ETFs may be better suited to self-directed investors. 

    How to invest using all-in-one ETFs

    Enter stage left the all-in-one exchange-traded fund, also known as asset-allocation or one-click ETF. The idea is simple: choose a single ETF that gives you access to all the asset classes an investor might need in a single product.

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    Jason Heath, CFP

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  • How do dividends work for Canadian ETFs? – MoneySense

    How do dividends work for Canadian ETFs? – MoneySense

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    What are ETF dividends?

    Dividends are a portion of profits that a company shares with its shareholders, typically paid quarterly. Canadian stock markets include many companies that pay a high dividend. The dividend yield is the annual dividend per share divided by the price per share.

    Selecting and managing your own dividend stocks can be time-consuming, however. Here’s where Canadian dividend exchange-traded funds (ETFs) enter the scene. They offer investors a diversified stock portfolio, which could include dividend-paying companies, that’s easy to manage. For example, the Fidelity Canadian High Dividend ETF (FCCD) holds 65 dividend-paying stocks, as at Jan. 15, 2024.

    There are several varieties of dividend ETFs, including ETFs comprising U.S. or international stocks—for example, Fidelity’s U.S. High Dividend ETF or International High Dividend ETF.

    How do dividends work in Canada?

    Not all companies pay dividends—it isn’t mandatory to do so. However, paying a healthy dividend can make a company’s stock attractive to income-seeking investors. A company’s board of directors decides the amount to be paid to shareholders based on factors such as profitability, cash flow and the company’s future investment plans. Many companies aim to pay a consistent dividend, which often grows over time.

    To be eligible to receive the dividend, an investor must own shares on what’s referred to as the “ex-dividend date”—the first date that the stock trades without the right to receive the dividend. The actual list of those who will receive dividends is prepared on the “record date,” which is typically the business day after the ex-dividend date.

    Dividends are paid on a per-share basis, so the amount of money shareholders receive depends on the number of shares they own. For example, if a company announces a dividend of 10 cents per share, and you own 100 shares, then you would receive $10 of dividends.

    In the case of ETFs, since the fund owns the underlying shares, it receives all the dividends it is eligible for. After receiving the dividends and subtracting expenses, the ETF could either distribute the net dividends to unit holders or reinvest them. To help maximize the effect of compounding, you could choose the dividend reinvestment plan (DRIP), where the dividend distributions you receive from a fund are used to purchase additional units of the same fund at the current market price. For example, FCCD distributes dividends monthly, and investors can opt into a DRIP to automatically purchase more units.

    When do dividend hikes, cuts and pauses happen?

    Consistent and increasing dividends are often viewed as a sign of a company’s financial health. Investors often read into changes—or lack thereof—in a company’s dividend policy.

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    Aditya Nain

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  • Building a “core and explore” portfolio with an all-in-one ETF – MoneySense

    Building a “core and explore” portfolio with an all-in-one ETF – MoneySense

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    For investors who embrace this hybrid strategy, new all-in-one exchange-traded funds (ETFs) can offer a one-ticket solution for their portfolio’s core. Many all-in-one ETFs are lower-cost investments that are bundled together so that investors don’t have to track or manage them. These products often include ETFs and pooled stocks and bonds, which are rebalanced, if the investment mandate permits.

    With an all-in-one ETF as their portfolio’s core, investors can then be a little bolder with their room to explore. Here’s what to consider before getting started.

    Take stock of your needs

    All-in-one ETFs can be appropriate if you have a medium- to long-term savings goal, such as home renovations, a sabbatical or retirement.

    First, consider how much you need to save, how much stable income you’ll have from other sources and when you’ll need your money. Think about your risk tolerance, as well. Are you a cautious type or more adventurous? What is your investment horizon? Is your financial position better suited for an investment with fewer ups and downs or one that’s more volatile but has the potential for higher long-term returns?

    For example, Fidelity All-in-One Balanced ETF (FBAL) is a low- to medium-risk option, with a mix of approximately 59% global equity, 39% global fixed income and 2% cryptocurrencies (as at Oct.31, 2023]. If you’re a less conservative investor with an eye for growth, Fidelity All-in-One Growth ETF (FGRO) has a higher equity weighting, with approximately 82% global equity, 15% global fixed income and 3% cryptocurrencies (as at Oct. 31, 2023) and has a medium level of risk. Both ETFs were launched in 2021.

    Two more funds, Fidelity All-in-One Conservative ETF (FCNS) and Fidelity All-in-One Equity ETF (FEQT), joined the program in 2022. The more conservative of the two, FCNS, offers a global multi-asset strategy with a neutral mix of approximately 40% global equity, 59% global fixed income and 1% cryptocurrencies (as at Oct. 31, 2023) and has a low-to-medium level of risk. FEQT has a neutral mix of approximately 97% global equity and 3% cryptocurrencies (as at Oct. 31, 2023) and has a medium level of risk.

    You can hold Fidelity’s All-in-One ETFs in a tax-free savings account (TFSA), registered retirement savings plan (RRSP), first home savings account (FHSA) or registered education savings plan (RESP).

    Decide how much of your portfolio will be the “core”

    Core holdings are usually investments that strive for consistent results. They typically include a mix of equities and fixed income, weighted to the investor’s risk tolerance. The core can be globally diversified across countries and regions—Canada, the U.S. and international markets.

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    Anna Sharratt

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  • What’s under the hood? A look at what goes into all-in-one ETFs—and how they work – MoneySense

    What’s under the hood? A look at what goes into all-in-one ETFs—and how they work – MoneySense

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    ETFs already have a reputation for being a simple and cost-effective way to obtain a diversified portfolio. They are usually actively managed, and they generally invest in passive ETFs, which can keep fees low, and investors can choose from a range of options, such as conservative, balanced or growth products.

    ETFs have surged in popularity among DIY investors. While the performance of ETFs is often similar to that of mutual funds, ETFs are easy to buy and sell.

    All-in-one ETFs go one step further. Essentially, they are collections of lower-cost ETFs. Investors don’t have to select, track or manage them—the pros take care of that. All-in-one ETFs can be passively or actively managed, and fund managers will rebalance the portfolio back to the strategic allocation, when necessary and if part of the ETF’s investment mandate.

    How all-in-one ETFs work

    All-in-one ETFs generally consist of a group of globally diversified funds that are balanced to minimize risk.

    Fidelity’s All-in-One ETFs program, for example, has four options. Its All-in-One Balanced ETF (FBAL) has a mix of approximately 59% global equity, 39% global fixed income and 2% cryptocurrencies (as at Oct. 31, 2023), and it has a low-to-medium level of risk. FBAL has an approximate indirect management fee of 0.36%.

    Fidelity’s All-in-One Growth ETF (FGRO) has a higher equity weighting, with approximately 82% global equity, 15% global fixed income, and 3% cryptocurrencies (as at Oct. 31, 2023). It has a medium level of risk. With an indirect management fee of approximately 0.38%, it’s better suited for the investor with a greater appetite for risk and a longer time horizon. Both FBAL and FGRO were launched in 2021.

    Two more funds, Fidelity’s All-in-One Conservative ETF (FCNS) and All-in-One Equity ETF (FEQT), joined the program in 2022. The more conservative of the two, FCNS, offers a global multi-asset strategy with a neutral mix of approximately 40% global equity, 59% global fixed income and 1% cryptocurrencies (as at Oct. 31, 2023). FCNS has a low-to-medium level of risk. FEQT has a neutral mix of approximately 97% global equity and 3% cryptocurrencies (as at Oct. 31, 2023) and has a medium level of risk.

    Fidelity All-in-One ETFs Conservative Balanced Growth Equity
    Risk classification Low to medium Low to medium Medium Medium
    Ticker FCNS FBAL FGRO FEQT
    Global equity 40% 59% 82% 97%
    Global fixed income 59% 39% 15% 0%
    Cryptocurrencies 1% 2% 3% 3%
    Source: Fidelity Investments Canada ULC

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    This article is sponsored.

    This is a paid post that is informative but also may feature a client’s product or service. These posts are written, edited and produced by MoneySense with assigned freelancers and approved by the client.

    Commissions, trailing commissions, management fees, brokerage fees and expenses may be associated with investments in ETFs. Please read the ETF’s prospectus, which contains detailed investment information, before investing. The indicated rates of return are historical annual compounded total returns for the period indicated including changes in unit value and reinvestment of distributions. The indicated rates of return do not take into account sales, redemption, distribution or option charges or income taxes payable by any unitholder that would have reduced returns. ETFs are not guaranteed. Their values change frequently, and investors may experience a gain or a loss. Past performance may not be repeated.

    The management fees directly payable by Fidelity All-in-One ETFs are nil. The Fidelity All-in-One ETFs invest in other underlying Fidelity ETFs that charge a direct management fee and/or administration fee. Based on the weightings of underlying Fidelity ETFs, it is expected that the effective indirect management and/or administration fee for Fidelity All-in-One Conservative ETF will be approximately 0.35%, Fidelity All-in-One Balanced ETF will be approximately 0.36%, Fidelity All-in-One Growth ETF will be approximately 0.38% and Fidelity All-in-One Equity ETF will be approximately 0.39%. The actual effective, indirect fees may be higher or lower than the estimated rates shown above based on the performance of the underlying Fidelity ETFs, rebalancing events initiated by the portfolio management team of the Fidelity All-in-One ETFs and changes to the strategic allocation, which may include the removal or addition of underlying Fidelity ETFs. Actual indirect fees will be reflected in the management expense ratio (in addition to sales tax, fixed administration fees, commissions, portfolio transaction costs and other expenses, as applicable, of each Fidelity All-in-One ETF and mutual fund version), posted semi-annually.

    Each of the Fidelity All-in-One ETFs has a neutral mix, which includes a small allocation to Fidelity Advantage Bitcoin ETF™ ranging between 1% and 3%. If each portfolio deviates from its neutral mix by greater than 5% between annual rebalances, it will also be rebalanced. Such rebalancing activity may not occur immediately upon crossing that threshold but will occur shortly thereafter.

    The statements contained herein are based on information believed to be reliable and are provided for information purposes only. Where such information is based in whole or in part on information provided by third parties, we cannot guarantee that it is accurate, complete or current at all times. It does not provide investment, tax or legal advice, and is not an offer or solicitation to buy. Graphs and charts are used for illustrative purposes only and do not reflect future values or returns on investment of any fund or portfolio. Particular investment strategies should be evaluated according to an investor’s investment objectives and tolerance for risk. Fidelity Investments Canada ULC and its affiliates and related entities are not liable for any errors or omissions in the information or for any loss or damage suffered.

    Portions © 2024 Fidelity Investments Canada ULC. All rights reserved. Fidelity Investments is a registered trademark of Fidelity Investments Canada ULC.


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    Anna Sharratt

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  • ETFs and RESPs: It’s always a good time to invest in education – MoneySense

    ETFs and RESPs: It’s always a good time to invest in education – MoneySense

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    With that in mind, here’s a key date to circle on your calendar: Dec. 31. That’s the deadline for making RESP contributions to maximize government RESP grants each year. The Canada Education Savings Grant (CESG) matches 20% of what you put in, up to a limit of $500 annually. To receive the full $500, your contributions must total at least $2,500 by the end of December. The lifetime CESG maximum per beneficiary (child) is $7,200, and you can only catch up one year at a time—so, you can see why that annual deadline merits attention. That’s especially true if you only have a few years to save before your child heads off to school.

    Now is a great time to plan your contributions for this year. Here are some things to consider.

    Despite its name, an RESP is much more than just a cash savings account. In fact, just holding cash in an RESP may not always be the best strategy, as inflation can erode its value over time. It’s worth looking into different ways to grow that money.

    There’s no one-size-fits-all answer for the best RESP investment options. The right mix for your family will depend on several factors, including your financial circumstances, how much time you have, and how comfortable you are with risk. To help you make the most of your RESP, the Canada Revenue Agency (CRA) provides a list of “qualified investments” for this account, including the following:

    • Bonds: These can be either government-issued or corporate-issued. Bonds are generally seen as a safer investment compared to stocks, offering fixed interest payments over time.
    • Guaranteed investment certificates: GICs are issued by financial institutions, and you can choose terms such as one, two, three or five years. At the end of the term, you’ll receive a guaranteed amount of interest. Generally, you must wait until then to access your money.
    • Stocks: Investing in individual stocks can offer high returns, but they generally come with higher volatility than bonds and GICs. It’s essential to thoroughly research the companies you’re thinking about investing in—and remember, picking stocks can be risky!
    • Mutual funds: These funds can hold a mix of stocks, bonds and other assets. They offer diversification and are managed by financial professionals. Investors pay a percentage of the value of their investment towards annual management fees.
    • Exchange-traded funds: ETFs are similar to mutual funds in that they can hold a mix of assets like stocks and bonds. However, ETF shares trade on stock exchanges, just like individual stocks. Most ETFs are passively managed, but more active ETFs are coming onto the market.

    ETFs are a fast-growing asset class in Canada. They offer investors numerous benefits, including:

    • Built-in diversification: ETFs may bundle various assets, providing wide exposure across different sectors, asset classes and geographies, which helps in reducing investment risk.
    • Professional management: With ETFs, a fund manager oversees the selection and rebalancing of holdings, often trying to replicate specific stock market indices (such as the S&P 500), thus reducing the complexity of managing individual stocks and bonds.
    • Ease of transactions: ETFs are traded on stock exchanges and are accessible through financial advisors and online brokers.
    • Flexible asset allocation: ETFs offer a spectrum of asset allocation options, so they may be suitable for investors with different risk tolerances and investment timelines.

    Choosing the best ETF for your RESP largely depends on two variables: your time horizon (how long until your child needs the funds) and your risk tolerance (how much market fluctuation and potential losses you can comfortably handle).

    To simplify this decision-making process, one option to consider is an all-in-one ETF, such as those offered by Fidelity. These ETFs offer different asset allocations and risk classifications. Fidelity’s All-in-One ETFs have the following target asset allocations and risk classifications (as at Oct. 31, 2023):

    Fidelity All-in-One ETFs Conservative Balanced Growth Equity
    Risk classification Low to medium Low to medium Medium   Medium
    Ticker FCNS FBAL FGRO FEQT
    Equity 40% 59% 82% 97%
    Fixed income 59% 39% 15% 0%
    Crypto 1% 2% 3% 3%
    Source: Fidelity Investments Canada ULC

    Fidelity’s suite of All-in-One ETFs offers strategic diversification, with most of them giving you exposure to global bonds and stocks from all market sectors. Interestingly, they even include a small exposure to cryptocurrency (1% to 3% depending on the fund), adding a modern twist to traditional investment portfolios. (Read more about crypto in Fidelity ETFs.)

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    Tony Dong

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  • Should you consider ETFs that include crypto? – MoneySense

    Should you consider ETFs that include crypto? – MoneySense

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    But 2023 has been different. Aside from a few prominent scandals, it’s been a year of resurgence and renewed investor interest. The price of bitcoin (BTC) has risen from about $16,500 at the start of the year to about $41,300, as of Dec. 18, 2023—an eye-popping gain of about 150%. But is crypto too volatile to invest in—especially if you’re a conservative investor? Is it worth exploring, or should you stay away from all the hype?

    What are cryptocurrencies? A quick refresher for Canadian investors

    Cryptocurrency is a form of digital money based on blockchain technology, which securely and permanently records transactions in a digital ledger. Unlike traditional fiat currency, crypto isn’t created, managed or backed by banks. Bitcoin, for example, operates on a multitude of computers around the world (called “nodes”) that run a specific algorithm. Together, they contribute massive amounts of computing power to create new coins, process transactions and maintain the decentralized ledger of these transactions.

    In the past, Canadian crypto investors bought coins, or fractions of coins, via crypto exchanges. Today, you can invest in exchange-traded funds (ETFs) that hold bitcoin and ethereum, making crypto more accessible to a wide range of investors.

    The potential benefits of investing in crypto

    Many Canadian investors remain cautious about crypto, wary of the dizzying volatility of crypto prices. Nonetheless, crypto is quickly emerging as an asset class for some long-term investors, exemplified by Fidelity’s All-in-One ETFs—which blend a small yet potentially impactful allocation of 1% to 3% of cryptocurrency into diversified portfolios of stocks and bonds. Adding a sprinkling of crypto assets to your portfolio could have these advantages:

    Diversification and hedging against traditional markets

    Diversification has typically meant allocating your portfolio to a certain percentage of stocks and bonds. However, bonds have had a torrid couple of years, and high inflation rates are spooking stock markets. So, investors are seeking fresh ideas. Diversifying with crypto could be promising because—although volatile and risky in itself—crypto does not suffer from all the same systemic risks that some stocks and bonds do. However, investors need to consider other crypto risks, such as regulatory uncertainty and technology risks.

    Potential for higher returns

    In diversified portfolios, stocks have so far been the growth engine. But, with crypto offering higher historical returns over the past 10 years, even a small allocation of 1% to 3% to crypto can potentially enhance an ETF’s returns.

    A slice of the future

    A small allocation to crypto gives you a slice of (what could be) the future of money and investments. Nobody knows how big the crypto market will be in 10 years and what role crypto will play in the future. A Fidelity All-in-One ETF with a small 1% to 3% allocation to crypto allows you to participate in the (possible) future without managing or storing it yourself. 

    Pure crypto ETFs vs. all-in-one ETFs

    Fidelity’s All-in-One ETFs allocate 1% to 3% to crypto. It’s a low percentage, but BTC has delivered annualized gains of over 50% over the last five years, so even a small allocation can give your investments a big boost. While many Canadian investors will be content with this 1% to 3% crypto allocation, some experienced investors may want to manage their crypto allocation themselves—with the ability to increase or decrease their crypto allocation independently. For these investors, there’s the Fidelity Advantage Bitcoin ETF, which invests substantially all of its holdings in bitcoin. In fact, Fidelity’s All-in-One ETFs gain exposure to BTC through this very ETF. Here’s an overview of Fidelity’s All-in-One ETFs that include crypto in their neutral asset allocation mix (as at Oct. 31, 2023).

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    Aditya Nain

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  • How to buy Fidelity ETFs in Canada – MoneySense

    How to buy Fidelity ETFs in Canada – MoneySense

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    ETFs may have lower management fees than comparable mutual funds. And, with such a wide variety of ETFs with different asset allocations to choose from—including funds that combine equities with fixed income and even cryptocurrency—there are ETFs for a range of investors, from conservative to aggressive. You can choose ETFs that try to replicate an entire stock index, such as the S&P 500, or focus on a specific sector or geographical region. Most ETFs are passively managed, but a growing number of funds are actively managed.

    Plus, you can hold ETFs in both non-registered and registered investment accounts. Examples of registered accounts include the registered retirement savings plan (RRSP), tax-free savings account (TFSA) and first home savings account (FHSA).

    Investing in Fidelity ETFs

    In Canada, Fidelity Investments offers a variety of ETFs for investors with different investment objectives, time horizons and tolerance for risk. Investors can consider ETFs in the following categories:

    • Equity ETFs invest in stocks across a broad range of sectors, market capitalizations and geographies.
    • Fixed income ETFs invest in bonds and can be used to generate income, with the potential for capital preservation. 
    • Balanced or multi-asset ETFs invest across asset classes, including stocks and bonds.
    • A sustainable ETF that invests in companies with favourable environmental, social and governance characteristics.
    • Digital asset ETFs have direct exposure to cryptocurrency, such as bitcoin and ether.

    Fidelity ETFs are available through financial advisors and online brokerages. Learn more about Fidelity ETFs.

    Learn more about ETFs

    On this page, we’ll share articles to help you learn about and evaluate ETFs for your investment portfolio. Check back often for more insights.

    • How many ETFs can Canadian investors own?
      ETFs offer Canadian investors an appealing combination of convenience, diversification and low fees. But how many ETFs should you own, and which ones?
    • What investments can I put in my TFSA?
      The TFSA contribution limit for 2024 was recently announced. TFSAs can hold more than just cash. Get to know your TFSA investment options, including some Fidelity All-in-One ETFs that offer portfolio diversification.

    Know your investing terms

    Brush up on investing basics with helpful definitions from the MoneySense Glossary.

    This article is sponsored.

    This is a paid post that is informative but also may feature a client’s product or service. These posts are written, edited and produced by MoneySense with assigned freelancers and approved by the client.

    Commissions, trailing commissions, management fees, brokerage fees and expenses may be associated with investments in mutual funds and ETFs. Please read the mutual funds or ETF’s prospectus, which contains detailed investment information, before investing. Mutual funds and ETFs are not guaranteed. Their values change frequently, and investors may experience a gain or a loss. Past performance may not be repeated.

    The statements contained herein are based on information believed to be reliable and are provided for information purposes only. Where such information is based in whole or in part on information provided by third parties, we cannot guarantee that it is accurate, complete or current at all times. It does not provide investment, tax or legal advice, and is not an offer or solicitation to buy. Graphs and charts are used for illustrative purposes only and do not reflect future values or returns on investment of any fund or portfolio. Particular investment strategies should be evaluated according to an investor’s investment objectives and tolerance for risk. Fidelity Investments Canada ULC and its affiliates and related entities are not liable for any errors or omissions in the information or for any loss or damage suffered.

    Portions © 2023 Fidelity Investments Canada ULC. All rights reserved. Fidelity Investments is a registered trademark of Fidelity Investments Canada ULC.

    The presenter is not registered with any securities commission and therefore cannot provide advice regarding securities.




    About Jaclyn Law

    Jaclyn Law is MoneySense’s managing editor. She has worked in Canadian media for over 20 years, including editor roles at Chatelaine and Abilities and freelancing for The Globe and Mail, Report on Business, Profit, Reader’s Digest and more. She completed the Canadian Securities Course in 2022.

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    Jaclyn Law

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