Canadian Imperial Bank of Commerce (CIBC) is the last of the major Canadian banks to enter the exchange-traded funds (ETF) industry with four new proprietary tracker funds. The bank’s asset management arm, CIBC Asset Management, has filed with the Canadian Securities Administrators (CSA) two actively managed fixed-income funds and two smart-beta equity funds.

The four new trackers include the CIBC Active Investment Grade Floating Rate Bond ETF (CAFR), CIBC Active Investment Grade Corporate Bond ETF (CACB), CIBC Multifactor Canadian Equity ETF (CMCE) and CIBC Multifactor US Equity ETF (CMUE). The new funds have management fees between 0.3% and 0.4%, Canada’s ETF market now stands at 35 providers with more than CAD$157 billion in assets. BMO Global Asset Management is the largest provider with a 31% market share, according to National Bank Finan

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