TORONTO, April 24, 2024 /CNW/ - RBC iShares today expanded its exchange traded fund ("ETF") lineup with the launch of six RBC Target Maturity U.S. Corporate Bond ETFs, as well as RBC Target 2030 Canadian Government Bond ETF and RBC Target 2030 Canadian Corporate Bond Index ETF. These eight new ETFs are managed by RBC Global Asset Management Inc. ("RBC GAM Inc.") and are expected to begin trading on the Toronto Stock Exchange today.
With the new RBC Target Maturity U.S. Corporate Bond ETFs, RBC iShares is extending the coverage of the RBC Target Maturity Bond ETFs to the U.S. fixed income market, offering advisors and investors the same convenient portfolio diversification opportunities that its Canadian suite has offered investors for some time.
With maturities ranging from 2025 until 2030, each RBC Target Maturity U.S. Corporate Bond ETF seeks to provide income, for a limited period of time ending on its respective Termination Date (defined as on or about September 30 of the applicable maturity year), by investing primarily in a portfolio of investment grade fixed income securities issued in the U.S. market by U.S. and foreign corporations that mature in the same calendar year as its respective Termination Date. Each RBC Target Maturity U.S. Corporate Bond ETF is available in U.S. dollar and Canadian dollar units.
In addition, RBC GAM Inc. has extended the available maturities of the existing RBC Target Maturity Canadian Government Bond ETF and RBC Target Maturity Canadian Corporate Bond Index ETF suites by launching RBC Target 2030 Canadian Government Bond ETF and RBC Target 2030 Canadian Corporate Bond Index ETF. With the addition of these two new ETFs, Canadian advisors and investors can now choose from maturities ranging from 2024 until 2030, helping them target duration in their fixed income portfolio or build bond ladders.
RBC Target Maturity Bond ETF Name |
Ticker |
Management Fee |
RBC Target 2025 U.S. Corporate Bond ETF (USD units) |
RUQN.U |
0.20 % |
RBC Target 2025 U.S. Corporate Bond ETF |
RUQN |
0.20 % |
RBC Target 2026 U.S. Corporate Bond ETF (USD units) |
RUQO.U |
0.20 % |
RBC Target 2026 U.S. Corporate Bond ETF |
RUQO |
0.20 % |
RBC Target 2027 U.S. Corporate Bond ETF (USD units) |
RUQP.U |
0.20 % |
RBC Target 2027 U.S. Corporate Bond ETF |
RUQP |
0.20 % |
RBC Target 2028 U.S. Corporate Bond ETF (USD units) |
RUQQ.U |
0.20 % |
RBC Target 2028 U.S. Corporate Bond ETF |
RUQQ |
0.20 % |
RBC Target 2029 U.S. Corporate Bond ETF (USD units) |
RUQR.U |
0.20 % |
RBC Target 2029 U.S. Corporate Bond ETF |
RUQR |
0.20 % |
RBC Target 2030 U.S. Corporate Bond ETF (USD units) |
RUQS.U |
0.20 % |
RBC Target 2030 U.S. Corporate Bond ETF |
RUQS |
0.20 % |
RBC Target 2030 Canadian Government Bond ETF |
RGQS |
0.15 % |
RBC Target 2030 Canadian Corporate Bond Index ETF |
RQS |
0.20 % |
"RBC Global Asset Management launched Canada's first suite of Target Maturity Bond ETFs in 2011, and since their inception, they have grown to over $3 billion in assets," said Mark Neill, managing director and head of RBC ETFs and Strategic Alliances, RBC Global Asset Management Inc. "With the introduction of these eight new solutions, RBC iShares is expanding one of our most popular and innovative suites of ETFs to meet the needs of more investors. We strongly believe these solutions will continue to receive significant interest from Canadian investors who are attracted to the ease and convenience they provide when constructing their portfolios."
The expanded suite of RBC Target Maturity Bond ETFs increases the availability of solutions to help advisors and investors solve common challenges faced when managing their fixed income portfolios. Together, this suite of ETFs aims to provide simple and transparent access via a wide range of diversified bond portfolios and the ability to manage duration more precisely.
For more information about RBC iShares, please visit https://www.rbcishares.com.
RBC iShares are comprised of RBC ETFs managed by RBC Global Asset Management Inc. and iShares ETFs managed by BlackRock Asset Management Canada Limited. Commissions, management fees and expenses all may be associated with investments in exchange-traded funds ("ETFs"). Please read the applicable prospectus or ETF Facts document before investing. ETFs are not guaranteed, their values change frequently, and past performance may not be repeated. ETF units are bought and sold at market price on a stock exchange and brokerage commissions will reduce returns. RBC ETFs do not seek to return any predetermined amount at maturity. Index returns do not represent RBC ETF returns. RBC ETFs are managed by RBC GAM Inc., a member of the RBC GAM group of companies and an indirect wholly-owned subsidiary of Royal Bank of Canada.
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 94,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our 17 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com.
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RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC) and includes money managers BlueBay, Phillips, Hager & North Investment Management and RBC Indigo Asset Management Inc. RBC GAM is a provider of global investment management services and solutions to institutional, high-net-worth and individual investors through separate accounts, pooled funds, mutual funds, hedge funds, exchange-traded funds and specialty investment strategies. The RBC GAM group of companies manage approximately $575 billion in assets and have approximately 1,500 employees located across Canada, the United States, Europe and Asia.
BlackRock's purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate.
iShares unlocks opportunity across markets to meet the evolving needs of investors. With more than twenty years of experience, a global line-up of 1400+ exchange traded funds (ETFs) and US$3.7 trillion in assets under management as of March 31, 2024, iShares continues to drive progress for the financial industry. iShares funds are powered by the expert portfolio and risk management of BlackRock.
SOURCE RBC Global Asset Management Inc.
Brandon Dorey, RBC GAM Corporate Communications, [email protected], 416-955-7397
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