Opinions
Daniel Straus
First Asset MorningStar Canada Value
FXM-T
PAST TOP PICK
Dec 01, 2022
Stock price when the opinion was issued
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2 things are facing the average investor. Do want to take that marginal dollar and convert it into US to buy what he thinks is still a very dynamic market. This ETF is based on the MorningStar CPM system, which is well-known with the Bay Street crowd. It is a quant series of factors that looks for valuation and analysts’ upgrades, and narrows it down to 30 stocks. It is 7% in energy where the TSX is 22%.
(A Top Pick Jan 27/15. Down 22.57%.) When he was looking at this, it had been at a time when TSX had already reached some bottoms, so it looked rather attractive. This looks for low price to Book, low price to cash flow, and all the value measurements in the TSX. It has to be heavily traded and they pick the 30 stocks that represent the best on that screen, and it is rebalanced quarterly. If you believe that Canada is going to come back at some point, this could be interesting on the upside. He was stopped out on this fairly soon after it was chosen.
Value might make a play again on 2020 and Canada could be a great spot. MER 0.68%. Top Holdings include Kinross Gold, Martinrea, and Canadian Natural. Yield 2.05%