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Global X Canadian Select Universe Bond Index Corporate Class ETF (HBB)
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Global X Cash Maximizer Corporate Class ETF (HSAV)
Q: Hello 5i Team
1 - HBB
Global X's webpage for Global X Canadian Select Universe Bond Index Corporate Class ETF (HBB) lists the following fees:
Management Fee - 0.09 % + applicable sales tax
Management Expense Ratio - 0.10 %
Trading Expense Ratio - 0.15 %
Swap Fee - No more than 0.15 %
Therefore are the maximum total fees that I would pay for HBB as follows:
Management Expense Ratio + Trading Expense Ratio + Swap Fee
0.10 % + 0.15 % + 0.15 % = 0.40 %
2 - HSAV
As HSAV is also a corporate class fund why would Global X not list a swap fee for HSAV?
Thanks
1 - HBB
Global X's webpage for Global X Canadian Select Universe Bond Index Corporate Class ETF (HBB) lists the following fees:
Management Fee - 0.09 % + applicable sales tax
Management Expense Ratio - 0.10 %
Trading Expense Ratio - 0.15 %
Swap Fee - No more than 0.15 %
Therefore are the maximum total fees that I would pay for HBB as follows:
Management Expense Ratio + Trading Expense Ratio + Swap Fee
0.10 % + 0.15 % + 0.15 % = 0.40 %
2 - HSAV
As HSAV is also a corporate class fund why would Global X not list a swap fee for HSAV?
Thanks
5i Research Answer:
1) yes; though the 'maximum' could change if trading activity rose during a year and/or swap fees increased. 2) We need to confirm this, but with a high interest ETF the cost of any derivatives would be significantly lower, and perhaps non-material. It is much simpler to exchange interest for additional units than it is to swap dividends for capital gains.