Canadians’ continued demand for exchange-traded funds continued as 2024 began, with January posting strong inflows following the solid year for the funds last year.
The monthly National Bank of Canada analysis of the ETF market reveals that U.S. and International equities helped the overall equities asset class post $2.8 billion in combined inflows. This included $1.5 billion for U.S. equities, $1 billion for International, and $234 million for Canadian.
Fixed income ETFs also started the year strongly with $1 billion created including $667 million for money market funds, while multi-asset funds gained $370 million and Inverse/Levered gained $111 million. However, crypto-asset ETFs posted outflows of $447 million (10% of their starting assets) which is the second-largest monthly redemption on record since the category was launched in 2021. Commodities lost $39 million.
