What are we looking for?
The top Canadian-listed exchange-traded funds in the third-quarter. These short-term return numbers can be useful if you are an active ETF trader.
We screened for the winning ETFs from July 1 to Sept. 30. Leveraged bull and bear ETFs were excluded.
What did we find?
Metals, agriculture, real estate and emerging markets were among the hot sectors.
BMO S&P/TSX Equal Weight Global Base Metals ETF emerged at the top of the heap with a 31.8-per-cent gain. "Base metals prices as well as gold have been on a run this year," said Kevin Gopaul, chief investment officer of BMO ETFs at Bank of Montreal.
Rising commodity prices have helped this ETF, which is focuses mostly on copper and aluminum-producing companies. Big gainers included stocks like Ivanhoe Mines Ltd., which rose 75 per cent over three months, and Lundin Mining Corp., up 72 per cent.
Copper prices climbed about 25 per cent and aluminum prices by 22 per cent in U.S. dollars, but the falling greenback did not hurt the fund because the currency exposure is hedged, Mr. Gopaul added.
BMO Junior Gold Index ETF was the third-best performer with a 22.1-per-cent gain as the price of gold hit new highs. The big movers included Guyana Goldfields Inc., which jumped 50 per cent, and Centerra Gold Inc., which rose 42 per cent.
"Because small-cap companies often carry more leverage on their balance sheets, their performance is more sensitive to the return of the underlying commodity," Mr. Gopaul said.
Claymore Global Agriculture ETF, which posted a 22.6-per-cent return, has benefited from the takeover battle for Potash Corp. of Saskatchewan after Australia's BHP Billiton Ltd. made a hostile bid.
Potash Corp., which had an average weight of 7.5 per cent in the ETF during the quarter, was the biggest contributor with a 61-per-cent return, said Vlad Tasevski, analyst at Claymore Investments Inc.
Other big gainers included CNH Global N.V., Mosaic Co., Sociedad Quimica y Minera de Chile SA and Deere & Co.
TOP CANADIAN-LISTED ETFS IN THE THIRD QUARTER
|% returns to Sep. 30||Latest||As of Sep. 30|
|Name||Symbol||3-mo||YTD||1-yr||2-yr||3-yr||5-yr||MER||Assets ($ mil)||Category|
|BMO S&P/TSX EW Gbl Base Metals ETF||ZMT-T||31.76||9.29||N/A||N/A||N/A||N/A||0.58||43.8||Natural Res. Equity|
|Claymore Global Agriculture ETF||COW-T||22.62||4.55||15.26||6.32||N/A||N/A||0.61||210.8||Misc. - Sector Equity|
|BMO Junior Gold Index ETF||ZJG-T||22.05||N/A||N/A||N/A||N/A||N/A||0.58||59.7||Precious Metals Equity|
|Claymore Broad Emerging Markets ETF||CWO-T||19.13||8.08||15.61||N/A||N/A||N/A||0.46||67.4||Emerging Mkts Equity|
|iShares S&P/TSX Cap Materials Index||XMA-T||18.09||19.05||26.26||18.00||6.29||N/A||0.55||267.1||Natural Res. Equity|
|Claymore BRIC ETF||CBQ-T||18.09||3.74||13.77||9.35||-3.99||N/A||0.66||315.7||Emerging Mkts Equity|
|BMO Equal Weight REITs Index ETF||ZRE-T||17.84||N/A||N/A||N/A||N/A||N/A||0.58||28.1||Real Estate Equity|
|iShares S&P/TSX Capped REIT Index||XRE-T||17.83||23.89||32.62||14.90||2.30||7.67||0.55||1076.9||Real Estate Equity|
|Claymore S&P/TSX Global Mining ETF||CMW-T||17.09||7.22||18.52||18.02||-0.54||N/A||0.59||54.6||Precious Metals Equity|
|iShares MSCI Emerging Markets Index||XEM-T||15.77||6.10||11.25||N/A||N/A||N/A||0.1||171.1||Emerging Markets Equity|
|iShares S&P CNX Nifty India Index||XID-T||14.99||N/A||N/A||N/A||N/A||N/A||0.98||10.9||Misc. - Geographic Equity|
|Claymore Global Monthly Adv Div ETF||CYH-T||14.72||5.23||12.19||3.18||N/A||N/A||0.64||71.6||Cdn Sml/Mid Cap Equity|
|BMO Junior Oil Index ETF||ZJO-T||14.68||N/A||N/A||N/A||N/A||N/A||0.58||3.4||Natural Res. Equity|
|BMO Emerging Markets Equity ETF||ZEM-T||14.68||7.70||N/A||N/A||N/A||N/A||0.57||15.4||Emerging Mkts Equity|
|BMO China Equity Hedged ETF||ZCH-T||14.35||N/A||N/A||N/A||N/A||N/A||0.71||8.9||Greater China Equity|
|S&P/TSX Total Return||10.26||7.46||11.60||5.91||-1.35||5.19|
|S&P 500 Composite ($ Cdn)||4.30||-2.30||0.60||-3.96||-9.16||-4.39|
|Source: Globe Investor|
© 2007 The Globe and Mail. All rights reserved.
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