RBC updates ETF names for a Canadian focus and raises the risk rating of its Bank Yield Index ETF
RBC Global Asset Management Inc. (RBC GAM Inc.) has announced significant updates to its range of RBC ETFs, including the renaming of certain fixed-income ETFs and a change in the risk rating for the RBC Canadian Bank Yield Index ETF.
These updates will be reflected in the upcoming renewal of the prospectus for RBC ETFs, expected to be filed around March 22.
The renaming of specific RBC ETFs is planned to take effect around March 22, 2024, pending approval from the Toronto Stock Exchange. The changes will see various government and corporate bond ETFs adopt names that more accurately reflect their Canadian focus.
Importantly, these updates will not affect the investment objectives, strategies, or tickers or require any action from the unitholders of the ETFs involved.
The ETFs undergoing name changes are as follows, with the current names being updated to emphasize their Canadian orientation:
- RBC Target 2024 Government Bond ETF to RBC Target 2024 Canadian Government Bond ETF
- RBC Target 2025 Government Bond ETF to RBC Target 2025 Canadian Government Bond ETF
- (Additional ETFs listed follow the same naming convention update, extending through to the RBC Target 2029 Corporate Bond Index ETF.)
Furthermore, the risk rating for the RBC Canadian Bank Yield Index ETF will increase from medium to medium to high. This adjustment, effective immediately, is based on the Canadian Securities Administrators' mandated methodology for determining ETF risk levels.
RBC GAM Inc. undertakes an annual review of the risk rating for each RBC ETF and when there is a material change to an ETF.
