New York City-based ETF firm, Global X Funds, has launched its second exchange-traded fund focused on Canada. The Global X Canada Preferred ETF tracks the Solactive Canada Preferred Index. The index measures the performance of preferred stocks from Canadian issuers traded on the Toronto Stock Exchange. As of May 16, 2011, the three biggest components of the index were Transcanada, Manulife Financial and Canadian Imperial Bank.
Click here for the release from PR Newswire.