Small-Cap Canada ETF Tops $100M In AUM

IndexIQ's IQ Canada Small Cap ETF CNDA, still less than a year old, has topped the $100 million mark in assets under management, the ETF issuer said in a statement today. CNDA is the first, and currently the only ETF to provide small-cap exposure to the Canadian market. Canada's status as the world's fourth-largest oil exporter and second-largest natural gas exporter have helped CNDA to become popular with investors. IndexIQ says CNDA's sector allocation is more closely tied to Canada's energy and materials base than comparable large-cap funds. Materials and energy names combine for 75% of CNDA's sector weight while energy and industrial materials account for less than 52% of the iShares MSCI Canada Index Fund's EWC weight. IndexIQ also issues the IQ Australia Small Cap ETF KROO, the IQ South Korea Small Cap ETF SKOR and the IQ Taiwan Small Cap ETF TWON.