Chapter 1
The (Sort of Still) New Kid on the Block
In This Chapter
Discovering the origins of ETFs
Understanding their role in today’s world of investing
Tallying their phenomenal growth
Looking at the biggest names in ETFs
No doubt, a good number of pinstriped ladies and gentlemen in and around Bay Street exist who froth heavily at the mouth when they hear the words exchange-traded fund. In a world of very pricey investment products and very well paid investment-product salespeople, ETFs are the ultimate killjoys.
Since their arrival on the investment scene in the early 1990s, more than 1,500 ETFs have been created — including about 250 in Canada — and ETF assets have grown faster than those of any other investment product. That’s a good thing. ETFs enable the average investor to avoid shelling out fat commissions or paying layers of ongoing, unnecessary fees. And they’ve saved investors oodles and oodles in taxes.
Hallelujah.
In the Beginning
What do basketball, snowmobiles, insulin, and ETFs have in common? They were all invented in Canada. Yes, you read that correctly. Though ...
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