Rudy Luukko
Clean energy stocks had electrifying gains in 2020, as did the funds that hold them. Unfortunately, the three Canadian-listed clean energy ETFs missed out on a triple-digit year, launching just as the market became more challenging.
The Harvest Clean Energy ETF and the BMO Clean Energy Index ETF both launched in January, followed closely by the February debut of the First Trust NASDAQ Clean Edge Green Energy ETF. All three have been jolted by losses of 17% or more since inception as of March 31.
Valuations for clean energy companies had become rich, with estimated forward price-earnings ratios of more than 60 times, said Karl Cheong, head of distribution at Toronto-based FT Portfolios Canada Co., which operates as First Trust Canada. The company’s ETF is a clone of the similarly named US$2.7-billion ETF, managed by an affiliate and listed in the U.S., which returned 184% in calendar 2020 and 42.7% the year before.
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(Bloomberg) The craze for space exploration exchange traded funds has reached Canada with two new launches this week including one counting Cathie Wood’s ARK Investment Management LLC as a subadviser.
Emerge Canada Inc. and Harvest Portfolios Group Inc. debuted a pair of new funds this week on the NEO and TSX exchanges, furthering the momentum in space-related investments since Wood filed to launch her popular ARK Space Exploration and Innovation ETF earlier this year.
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Harvest Announces Filing of the Preliminary Prospectus for Canada s First Space Innovation Index ETF
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OAKVILLE, ON, March 16, 2021 /CNW/ - Harvest Portfolios Group Inc. ( Harvest ) is pleased to announce that it has filed a preliminary prospectus with the Canadian securities regulators for Canada s first space industry ETF, the Harvest Space Innovation Index ETF ( ORBT ). This innovative ETF is designed to provide Canadian investors access to the growing and dynamic space industry. ORBT is another first in Canada for Harvest and will provide investors with access to some of the most prominent space innovation companies in the world said Michael Kovacs, President and CEO of Harvest. ORBT provides a portfolio that stands to benefit from the burgeoning growth and development in the field of space innovation, exploration, tourism and infrastructure.
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Permanent and non-cyclical macro drivers lay the foundation for long term growth in the Healthcare sectors: Aging populations combined with significant increases in healthcare expenditures as we age; opportunity in developing markets as there is disproportionate share of increases in wealth is spent on healthcare; and technological innovation across medical equipment, devices and drug innovation.
In the shorter term healthcare is considered as a superior good, something we need and spend on in good times and bad. This affords visibility into the underlying companies business prospects in the near term at a time when many industries face uncertainty, yet valuations for Healthcare near historical lows compared to the broader markets.
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