QCN-CA
Mackenzie Canadian Equity Index ETF
Mackenzie Canadian Equity Index ETF seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of the Solactive Canada Broad Market Index, or any successor thereto. It invests primarily in Canadian equity securitie
Rules-Based, Semi-Diverse
MANAGEMENT MATRIX
TSX
PRIMARY EXCHANGE
C$
136.13
May 16, 2024
Fund Basics
| Fund sponsor | Power Corporation of Canada |
| Category | Canadian Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Jan 24, 2018 |
| Assets (mns) | $1,421 |
| Expense ratio | 5 bp |
| Currency | CAD |
Sector Breakdown
Fund Structure
| Regulation | Canadian Mutual Fund Trust (ON) |
| Distributions | Quarterly |
| Taxation | |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| ROYAL BANK OF CANADA | 5.9 % |
| TORONTO-DOMINION BANK | 4.8 % |
| SHOPIFY, INC. CLASS A | 3.9 % |
| CANADIAN PACIFIC RAILWAY LTD | 3.5 % |
| CANADIAN NATL RAILWAY CO | 3.3 % |
| CANADIAN NATURAL RESOURCES | 3.3 % |
| ENBRIDGE INC | 3.2 % |
| BANK OF MONTREAL | 2.8 % |
| BANK OF NOVA SCOTIA | 2.6 % |
| CONSTELLATION SOFTWARE INC | 2.4 % |
Constituent Breakdown
| Number of holdings | 272 |
| Herfindahl-Hirschman Index | 192 |
| Wgt avg mkt cap (mns) | $46,214 |
| Large cap (>$10bn) | 78.1% |
| Mid cap ($2-10bn) | 17.2% |
| Small cap (<$2bn) | 4.7% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
|
CANADA | 95.8 % |
Historical Performance
Standardized Annual Returns (as of 04/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 1.4% | 5.0% | 3.1% | 6.4% | 8.2% | -- | 7.6% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.62 | 76% |
| MSCI EAFE | 0.64 | 74% |
| MSCI Emg Mkts | 0.46 | 41% |
Liquidity Measures
| Avg. volume (000) | 2 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.00% |
| ADV of underlying (mns) | $6,964 |
Technical Indicators
| Recent close | $136.13 |
| 30d moving avg. | $123.24 |
| Annualized volatility | 12.7% |
| Relative strength (RSI) | 64 |
| Short interest (ETF) | 0.0% |
| Short interest (underlying) | 0.0% |
Distributions
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. QCN-CA |
Expenses vs. QCN-CA |
ALTAR Score™ vs. QCN-CA |
|---|---|---|---|---|
| TTP-CA | TD Canadian Equity Index ETF | 96.3% | +1 bp | 0.0% |
| XIC-CA | iShares Core S&P/TSX Capped Composite Index ETF | 93.8% | +1 bp | 0.0% |
| ZCN-CA | BMO S&P/TSX Capped Composite Index ETF | 90.0% | +1 bp | -0.1% |
| VCN-CA | Vanguard FTSE Canada All Cap Index ETF | 87.1% | 0 bp | 0.0% |
| VCE-CA | Vanguard FTSE Canada Index ETF | 68.8% | +1 bp | +0.1% |
| XESG-CA | iShares ESG Aware MSCI Canada Index ETF | 67.5% | +12 bp | +0.0% |
| XCSR-CA | iShares ESG Advanced MSCI Canada Index ETF | 53.5% | +13 bp | +0.0% |
| XIU-CA | iShares S&P/TSX 60 Index ETF | 52.3% | +13 bp | -0.1% |
| XEI-CA | iShares S&P/TSX Composite High Dividend Index ETF | 43.0% | +19 bp | +0.9% |
| VDY-CA | Vanguard FTSE Canadian High Dividend Yield Index ETF | 42.9% | +18 bp | +1.1% |
Risk and Returns: QCN-CA vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 5/16/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
QCN-CA
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
QCN-CA
7.0%
Cat. Avg
7.4%
Fund Category: Canadian Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 7.0% |
Recommendation
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
Category Overview
There are 19 funds in the Canadian Equities category, with an average ALTAR Score™
of 7.4% and a standard deviation of
1.2%. QCN-CA's ALTAR Score™ is approximately
0.4 standard deviations
below
the category average. This places QCN-CA in the 35th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
QCN-CA
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown