Horizons ETF screens Canadian stocks for quality at a reasonable price

Rudy Luukko 14 November, 2017 | 6:00PM

Horizons Inovestor Canadian Equity Index (symbol INOC), holding an equally weighted portfolio of 25 large-cap Canadian companies screened for positive growth and value attributes, opened for trading today on the Toronto Stock Exchange.

The underlying index for the exchange-traded fund is the NASDAQ Inovestor Canada Index, whose bottom-up quantitative discipline is described as QARP, an acronym that denotes high quality at a reasonable price. The index was designed by Inovestor Inc., an affiliate of the ETF's Montreal-based sub-advisor Inovestor Asset Management.

Using a multi-factor approach, Inovestor's screening process seeks to identify Canadian companies that achieve high levels of "economic profit" and are trading at attractive valuations.

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About Author

Rudy Luukko

Rudy Luukko  Rudy Luukko is a freelance writer who contributes to Morningstar.ca on topics involving fund industry trends and regulatory issues. He retired in May 2018 from his position as editor, investment and personal finance, at Morningstar Canada, where he had worked since 2004. He has also worked as an editor and writer for various general, specialty and institutional media, and he has co-authored courses for the Canadian Securities Institute. Follow Rudy on Twitter: @RudyLuukko.

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