Canadian bank earnings season began with BMO and BNS reporting Q1 results. On Tuesday February 25th, 2025, Rob Wessel was on BNN Bloomberg discussing: (i) valuations and key takeaways; (ii) the impact of the U.S. ‘wildcard’ on the Canadian economy and banking sector, and (iii) opportunities for fiscal policies to boost Canadian Bank stocks.
1. BMO & Scotia Each Top Q1 EPS Expectations
8 minutes (start @2:40)
2. Canadian Banks Brace for U.S. ‘Wildcard’
(4 minutes)
3. Opportunities for Fiscal Policies
to Boost Canadian Bank Stocks¹
(5 minutes)
4. Viewer Questions on RBC, U.S. Financials and More
(8 minutes)
Top Performing Canadian Bank & Financials ETFs³
Performance
| Ticker | Fund Name | Yield | 1-Year | 3-Year⁴ | Since Inception⁴ |
| HCAL | Hamilton Enhanced Canadian Bank ETF | 6.00% | 35.6% | 4.4% | 19.5% |
| HFIN | Hamilton Enhanced Canadian Financials ETF | 4.55% | 40.1% | 13.2% | 14.0% |
| HEB | Hamilton Canadian Bank Equal-Weight Index ETF | 4.13% | 29.5% | – | 18.8% |
Footnotes:
1. The annual management fee of CMVP, SMVP, HEB, and HFN are rebated by 0.19% to an effective management fee of 0.00% at least until January 31, 2026. SWIN and CWIN have a management fee of 0.65%.
2. An estimate of the annualized yield an investor would receive if the most recent distribution remained unchanged for the next 12 months, stated as a percentage of the price per unit on January 31, 2025
3. HCAL: Since inception on October 14, 2020, as at January 31, 2025. Based on a universe of seven Canadian bank ETFs that trade on the Toronto Stock Exchange, including unlevered and covered call strategies. HCAL uses modest 25% cash leverage. Effective April 14, 2023, the investment objective of the Hamilton Enhanced Canadian Bank ETF (HCAL) was changed to equal weight exposure from its prior mean reversion approach. In certain markets, the current approach is expected to outperform the prior ; Since inception on January 26, 2022 to January 31, 2025.
HFIN: Based on a universe of nine Canadian financials ETFs that trade on the Toronto Stock Exchange, including unlevered strategies. HFIN uses modest 25% cash leverage.
4. Annualized
*Annual management fee rebated by 0.19% to an effective management fee of 0.00% at least until January 31, 2026.