All investments involve risks, including possible loss of principal. For fixed income ETFs, bond prices, and thus an ETF’s unit price, generally move in the opposite direction of interest rates. Special risks are associated with foreign investing, including currency fluctuations, economic instability and political developments; investments in emerging markets involve heightened risks related to the same factors. To the extent the ETF focuses on particular countries, regions, industries, sectors or types of investment from time to time, it may be subject to greater risks of adverse developments in such areas of focus than an ETF that invests in a wider variety of countries, regions, industries, sectors or investments. Performance of the ETFs may vary significantly from the performance of an index, as a result of transactions costs, expenses and other factors. These and other risks are discussed in the ETF’s prospectus.
For more information on any ETFs, contact your financial advisor or download a prospectus or ETF Facts. Investors should carefully consider an ETF's investment objective and strategies, risks, sales charges and expenses before investing. The prospectus and ETF Facts contains this and other information. Please read the prospectus/ETF Facts carefully before investing.
ETFs trade like stocks, fluctuate in market value and may trade at prices above or below the ETF’s net asset value. Brokerage commissions and ETF expenses will reduce returns.
Net Asset Value (NAV) represents an ETF’s per-unit value. The NAV per-unit is determined by dividing the total NAV of the ETF by the number of units outstanding. The ETF calculates the NAV per unit each business day as of 4 p.m. Eastern Time which normally coincides with the close of trading on the Toronto Stock Exchange (TSX). The ETF does not calculate the NAV on days the TSX is closed for trading. If the TSX has a scheduled early close or unscheduled early close, the ETF’s unit price would still be determined as of 4:00 p.m. Eastern Time.
ETF units may be bought or sold throughout the day at their market price on the exchange on which they are listed. However, there can be no guarantee that an active trading market for ETF units will develop or be maintained, or that their listing will continue or remain unchanged. While the units of ETFs are tradable on secondary markets, they may not readily trade in all market conditions and may trade at significant discounts in periods of market stress.