07:27:26 EDT Tue 19 Mar 2024
Enter Symbol
or Name
USA
CA



iShares S&P/TSX Capped Information Technology
Symbol XIT
Shares Issued 6,200,000
Close 2018-04-23 C$ 17.50
Market Cap C$ 108,500,000
Recent Sedar Documents

Globe's Berman keen on iShares S&P/TSX Capped Info

2018-04-24 08:55 ET - In the News

Also In the News (C-XIU) iShares S&P/TSX 60 Index ETF

The Globe and Mail reports in its Tuesday, April 24, edition that the Canadian technology sector has been demolishing the Canadian benchmark index over the past year. The Globe's David Berman writes that there are just 12 information-technology companies within the S&P/TSX Composite Index. Their combined market capitalization is about $80-billion, accounting for a mere 3.8-per-cent weighting in the broad index. To put that into perspective, financials account for 34 per cent of the index and energy stocks account for nearly 20 per cent. The entire technology sector is about the same size as Suncor Energy. As a result of this slim profile, most tech-focused mutual funds take a global perspective, with only a passing interest given to Canadian stocks. The iShares S&P/TSX Capped Information Technology Index ETF gives exposure to the entire technology sector, but it has attracted only $109-million in assets -- a curiosity next to the $9.9-billion iShares S&P/TSX 60 Index Fund. Mr. Berman says the strong returns by Canadian technology stocks suggest that the sector has potential for rewarding investors who want exposure to something that is a little more interesting than oil or net interest margins.

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