Description

HEWB provides investors with access to Canada's six largest financial institutions, commonly known as the "Big Six," encompassing Royal Bank of Canada (RBC), Toronto-Dominion Bank (TD), Bank of Nova Scotia (Scotiabank), Bank of Montreal (BMO), Canadian Imperial Bank of Commerce (CIBC), and National Bank of Canada (National Bank). By assigning an identical weighting to each of these securities, HEWB enables investors to diversify their holdings within the banking sector, thereby mitigating the risk associated with over-concentration in any single bank. This exchange-traded fund is suitable for individuals aiming for overall growth from leading Canadian bank stocks, who are prepared for market fluctuations but do not prioritize consistent dividend payments. HEWB endeavors to replicate, as closely as feasible, the returns of the Solactive Equal Weight Canada Banks Index (Total Return), after accounting for its operational costs. The aforementioned index itself is structured as an equally weighted basket of equity securities from diversified Canadian banks.