First Asset Investment Management announced on Aug. 25 that units of the First Asset MSCI International Low Risk Weighted ETF have begun trading on the Toronto Stock Exchange. The units are found under the ticker symbols RWX, which are Canadian dollar hedged units, and RWX.B, which are unhedged units.
"Today, we expand our suite of MSCI Index-based ETFs to include the First Asset MSCI International Low Risk Weighted ETF (TSX: RWX and RWX.B),” said Rohit Mehta, president of First Asset Management Inc. “MSCI is a market leader in global equity indexes and has approximately $1.9 trillion in assets benchmarked to the MSCI EAFE index suite. This new ETF allows advisors to participate in the growing opportunity set available within the international equity market in a manner that seeks to minimize both volatility and the impacts of market drawdowns."
The aim of the ETF’s Canadian dollar hedged units is to try to replicate the performance of the MSCI EAFE Risk Weighted Top 175 Index Hedged to Canadian dollars, net of expenses, while the goal for the unhedged units is to try and replicate the performance of the MSCI EAFE Risk Weighted Top 175 Index, also net of expenses.