Canadian ETFs had a total value of $314-billion in investments at the end of 2022, according to data provided by National Bank Financial
. While this was down from the total assets of $323.1-billion at the end of 2021, the $35-billion in new sales helped offset the declining value brought on by falling stock and bond markets.
Despite the drop in assets under management, the sale of ETFs compared with mutual funds in 2022 is a significant reversal from 2021, when pandemic savings largely went into conventional mutual funds. In 2021, $112.6-billion went into mutual funds, compared with $53-billion in ETF sales. In contrast, ETF investors flocked to safer grounds with fixed income ETFs, including high-interest-savings, also known as cash ETFs. Overall, fixed income ETFs accounted for $20.2-billion in flows for the year, according to a report by TD Securities Inc. – more than half of the overall ETF sales in 2022.
“Cash management ETFs were incredibly popular among investors given their very low risk and promising yields,” TD’s director, head of ETF sales and strategy, Andres Rincon, wrote in a research note this week.remaining at high levels in the near future, fixed income and cash ETFs are expected to continue to gain traction in 2023, Mr. Rincon added.
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