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CANADIAN BANK STOCKS SMASH EARNINGS: BUY THEM ALL WITH THIS ETF

Stock MarketsJun 05, 2022 10:15
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© Reuters. Canadian Bank Stocks Smash Earnings: Buy Them All With This ETF

Canada’s Big Six bank stocks have done great so far in 2022. The rising interest
rate environment has given these stocks a significant tailwind, boosting their
revenues and earnings. Numerous banks announced earnings last week, beating
analyst expectations for growth and even announced some dividend increases.

The TSX banking sector has historically outperformed the broader market. Royal
Bank of Canada (TSX:RY), Toronto-Dominion Bank (TSX:TD), Canadian Imperial Bank
of Commerce, Bank of Nova Scotia (TSX:BNS), Bank of Montreal (TSX:BMO), and
National Bank have been solid investments for decades.

Together, these banks form an oligopoly, with minimal competition, endless
customer bases, and secure profits. Investors can pick and choose which bank
stocks to invest in, but a better option might be to buy an exchange-traded fund
(ETF) that holds all six bank stocks.

The ETF solution BMO S&P/TSX Equal Weight Bank Index ETF (TSX:ZEB) holds shares
of all six banks in equal weights (around 17% each) in a “basket.” When you
purchase a share of ZEB, you are getting a slice of this basket, with
proportionate exposure to all of its underlying stocks.

The equal weighting of ZEB plus the quarterly rebalancing makes portfolio
management extremely simple. If you owned all six bank stocks, you would have to
buy the losers and sell the winners every quarter to ensure your portfolio
remained balanced.

Rebalancing is important, because it ensures that single stock can grow so large
as to overly influence the ETF. This provides diversification and protection
against a single stock doing poorly. However, it can be time consuming and
costly for some investors.

This is not so with ZEB. The fund managers do all the hard work for you, saving
time and commission. In return, ZEB charges a management expense ratio (MER) of
0.28%. This fee is deducted from the net asset value of the ETF on an annual
basis. If you had $10,000 in ZEB, you would pay around $28 in MER annually.

ZEB also pays a decent distribution yield thanks to its underlying
dividend-paying bank stocks. Currently, the annualized yield sits at 3.93%. This
distribution is paid monthly, making ZEB great for investors requiring
consistent income from their portfolio.

The Foolish takeaway Investors looking for a hands-off, set-it-and-forget-it
approach to investing in Canadian bank stocks can buy ZEB. For a 0.28% MER, you
gain exposure to an equally weighted portfolio of Canada’s six biggest bank
stocks. The fund manager handles the quarterly rebalancing and monthly
distributions on your behalf. This makes ZEB a great pick for passive investors
who are bullish on the banking sector.

The post Canadian Bank Stocks Smash Earnings: Buy Them All With This ETF
appeared first on The Motley Fool Canada.

Fool contributor Tony Dong has no position in any of the stocks mentioned. The
Motley Fool recommends BANK OF NOVA SCOTIA.

This Article Was First Published on The Motley Fool


Canadian Bank Stocks Smash Earnings: Buy Them All With This ETF

 



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 S&P/TSX20,864.82+74.09+0.36%  S&P/TSX 601,260.62+3.90+0.31%  US
3033,042.6+142.9+0.43%  US 5004,140.4+31.9+0.78%  S&P 500
VIX25.35+0.56+2.26%  DAX14,653.81+193.72+1.34%  Dollar Index102.355+0.195+0.19% 

 Crude Oil WTI118.47-0.40-0.34%  Brent Oil119.50-0.22-0.18%  Natural
Gas9.264+0.741+8.69%  Gold1,845.15-5.05-0.27%  Silver22.102+0.194+0.89%  US
Soybeans1,696.00-2.00-0.12%  US Cotton #2137.80-0.38-0.27% 

 USD/CAD1.2577-0.0016-0.13%  EUR/USD1.0696-0.0022-0.21%  USD/JPY131.54+0.68+0.52%  GBP/USD1.2536+0.0051+0.41%  CAD/USD0.7951+0.0009+0.12%  EUR/CAD1.3451-0.0043-0.32%  GBP/JPY164.90+1.52+0.93% 

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