Low-MER, No-Load Index Funds Available in Canada

Low-MER, No-Load Index Funds Available in Canada

This table shows the major fund companies that offer low management expense ratio (MER), no-load index funds to Canadian investors. Low-MER generally means under 1%. Each cell in the table shows the index that the fund tracks and the MER, including GST.
Check with the fund companies for latest availability, target index and MER information.

For a more complete list of low cost indexed securities that are available in Canada, use this Globefund filter (for no-load index funds and ETFs with MER under 1.25%.)

Altamira Precision CIBC Index¹ RBC/Royal Index TD eFunds²

Regular⁴ RRSP³ Regular RRSP Regular RRSP Regular RRSP

Canadian
Bond SCM Universe
0.96/0.32 SCM Universe
0.96/0.32 SCM Universe
0.70 SCM Universe
0.70 SCM Universe
0.48 SCM Universe
0.48

Canadian
ST Bond SCM Short Term
0.96/0.32 SCM Short Term
0.96/0.32

Global
Gov't Bond JP Morgan Glbl Gov't
0.96/0.32 JP Morgan Glbl Gov't
0.96/0.32

Canadian
Equity S&P/TSE 60
0.54 S&P/TSE 60
0.54 TSE 300
0.96/0.32 TSE 300
0.96/0.32 TSE 300
0.74 TSE 300
0.74 TSE 300
0.31 TSE 300
0.31

US
General Equity S&P 500
0.54 Wilshire 5000
0.96/0.32 S&P 500
0.96/0.32 S&P 500
0.93 S&P 500
0.72 S&P 500
0.31 S&P 500
0.48

US
Large Cap DJIA 30
0.54 DJIA 30
0.31

US
Technology NASDAQ 100
1.13/0.49 NASDAQ 100
1.13/0.49 NASDAQ 100
0.48

US
Mid Cap S&P 400
0.75

International MSCI EAFE
0.54 MSCI EAFE
0.96/0.32 MSCI EAFE
0.96/0.32 MSCI EAFE
0.72 MSCI EAFE
0.48 MSCI EAFE
0.48

Europe MSCI Europe
0.75 Eurotop 100
0.54 MSCI Europe
0.96/0.32 MSCI Europe
0.96/0.32 MSCI Europe
0.48

Pacific R.I.P.
31Dec01 MSCI ACPF
0.96/0.32

Japan Nikkei 225
0.96/0.32 MSCI Japan
0.48

Emerging Markets MSCI EMF
1.24/0.60

Low-MER, No-Load Indexed Portfolios

Some investors may prefer the greater simplicity of a pre-packaged portfolio of index funds that's managed and rebalanced automatically. Such portfolios, designed to cater to a variety of risk profiles, are available for MERs that range from 0.85% to 1.5%. Most are also ideal for beginning investors because they require as little as $100 initial investment and subsequent $25 preauthorized purchases.

ING DIRECT Streetwise Funds

Balanced Income

Balanced

Balanced Growth

TD Managed Index Portfolios e-Series

Aggressive Growth
Balanced Growth
Income
Income & Moderate Growth
Maximum Equity Growth

TD Balanced Index

CIBC Balanced Index

Legend:
ACPF - All Countries Pacific Free
DJIA - Dow Jones Industrial Average
EAFE - Europe, Australasia, Far East
EMF - Emerging Markets Free
MSCI - Morgan Stanley Capital International
SCM - Scotia Capital Markets
ST - Short-term

Notes:
1. The normal MERs for CIBC index funds is shown above, however, this is reduced to 0.32% (or even 0.27%) under their MER rebate program for accounts that hold more than $150,000 (or $500,000) in CIBC index funds. If you have a smaller portfolio you can qualify for a 0.10% rebate if you hold these funds through President's Choice Financial [click on FAQ].
2. TD eFunds are only available directly from TD. The higher-MER (~1%) Class A funds are available from other brokers/dealers.
3. With the recent (spring 2005) removal of foreign content restrictions for assets held inside RRSPs and other registered plans, many fund companies are moving to merge, change the mandate of or eliminate the RRSP versions of their funds. Consult the fund company or the fund prospectus for more information.
4. Another class of low cost "index fund" is Exchange Traded Funds. Both Canadian and US listed ETFs are available to Canadians through any discount broker.
5. Other fund companies that offer under ~1% MER index funds include Scotia Bank and National Bank, however their selection of asset classes is limited.