Description

HEWB offers investors exposure to Canada’s six largest banks, commonly referred to as the “Big Six” including 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 allocating an equal weight to each security, HEWB allows investors to diversify their exposure within the banking sector, mitigating concentration risk associated with individual bank performance. This ETF is suitable for an investor looking for total return exposure to the equity securities of large Canadian banks, who can handle the ups and downs of the stock market, but who is not looking for regular distributions. HEWB seeks to replicate, to the extent possible, the performance of the Solactive Equal Weight Canada Banks Index (Total Return), net of expenses. The Solactive Equal Weight Canada Banks Index (Total Return) is an equal weight index of equity securities of diversified Canadian banks.