Mackenzie Investments announced June 16 the listing of Wealthsimple's first two exchange traded funds (ETFs). Mackenzie is serving as trustee, manager and portfolio manager of the ETFs.
The two new ETFS are the Wealthsimple North America Socially Responsible Index ETF, which trades on the TSX under the ticker symbol WSRI and the Wealthsimple Developed Markets ex North America Socially Responsible Index ETF (ticker symbol WSRD).
The Wealthsimple North America Socially Responsible Index ETF will seek to replicate the performance of the Solactive Wealthsimple North America Socially Responsible Factor index. It has a management fee of 0.20%.
The Wealthsimple Developed Markets ex North America Socially Responsible Index ETF will track the Solactive Wealthsimple DM ex NA Socially Responsible Factor index. It has a management fee of 0.25%.
Wealthsimple says it decided to launch its first investment products because it “saw an opportunity to make improvements not only to its existing managed portfolios, but also to the Canadian socially responsible investment market more broadly.”
"Canadians are increasingly interested in investment options that reflect their values, and there haven't always been a lot of great options for them. This prompted us to create our own socially responsible funds that use clear, transparent values screens and carry lower fees than much of the competition," says Michael Katchen, co-founder and CEO of Wealthsimple.