Harvest ETF combines bank and real-estate investments

Morningstar Canada 29 March, 2018 | 5:00PM

Harvest Banks & Buildings Leaders Income (symbol: HCBB), which combines bank and real-estate-related stocks and will make monthly income distributions, opened for trading today on the Toronto Stock Exchange.

Managed by Oakville, Ont.-based Harvest Portfolios Group Inc., the exchange-traded fund has the same strategy as a mutual fund with the same name. High costs have been a negative attribute of this fund, with management-expense ratios of 3.81% for the Class A units sold through commissioned dealers, and 2.22% for the Class D units designed for self-directed investors who deal with discount brokers.

By comparison, the ETF's management fee is a much lower 0.85%, though this fee does not cover any of the operating expenses.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Manulife Financial Corp18.44 CAD-0.22
Sun Life Financial Inc54.24 CAD-0.24

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