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While I don’t personally invest in any specific Canadian stocks listed on the TSX, if I were to venture into that market, I would undoubtedly choose to do so via an exchange-traded fund (ETF).
ETFs offer broad coverage of the market at a remarkably low cost. They provide a simple and efficient way to quickly build a diversified portfolio. Additionally, many ETFs offer the advantage of decent dividend payouts and tax efficiency.
Given the variety of options available, it’s important to choose wisely. My top pick for the smartest TSX ETF to buy right now with $1,000 is BMO S&P/TSX 60 Index ETF (TSX:ZIU). Here’s why.
Why the TSX 60?
The S&P/TSX 60 Index, as its name suggests, tracks the 60 largest publicly listed stocks in Canada.
This selection of stocks includes the country’s foremost banks, railway companies, pipeline operators, as well as major telecom and insurance companies, representing a…
