**Top Canadian Funds Holding Shopify Stock**

Tecfai Editorial Team

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Post on Nov 13, 2024

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Top Canadian Funds Holding Shopify Stock: A Look at the Players

Shopify, the Canadian e-commerce giant, has become a cornerstone of many investment portfolios, both individual and institutional. Understanding which Canadian funds hold Shopify stock can offer valuable insights for investors interested in this growth-oriented company. Here's a closer look at some of the top contenders:

iShares S&P/TSX 60 Index Fund (XIT)

This index fund tracks the performance of the S&P/TSX 60, a benchmark index representing the 60 largest companies on the Toronto Stock Exchange. As Shopify is a major player on the TSX, it's naturally a significant holding within XIT. This fund offers broad exposure to the Canadian market, including Shopify's growth potential.

Vanguard S&P/TSX 60 Index ETF (VXC)

Similar to XIT, VXC tracks the S&P/TSX 60 Index, making it another popular choice for investors seeking diversified exposure to leading Canadian companies. Shopify's presence in the index ensures its inclusion within this ETF, providing investors with a slice of the e-commerce giant's success.

Horizons S&P/TSX 60 Index ETF (HXT)

HXT is yet another ETF that mirrors the performance of the S&P/TSX 60 Index, offering investors a readily accessible option for participating in the Canadian market's growth, including Shopify's contributions.

BMO Equal Weight S&P/TSX 60 Index ETF (ZEQ)

Unlike the aforementioned ETFs, ZEQ takes an equal-weight approach to its holdings, ensuring that each of the 60 companies in the index receives an equal allocation. This approach helps to balance out the influence of larger companies like Shopify, providing a more diversified exposure within the Canadian market.

TD e-Series Index ETF - S&P/TSX 60 (TDB60)

TDB60 tracks the S&P/TSX 60 Index, offering investors another option for gaining exposure to Shopify as part of a diversified Canadian equity portfolio.

Factors to Consider When Choosing Funds:

• Expense Ratios: Pay attention to the expense ratio, which represents the annual cost of owning the fund. Lower expense ratios generally mean more of your investment returns are retained.
• Fund Size: Consider the fund's assets under management (AUM), as larger funds often have greater liquidity and potential for diversification.
• Investment Strategy: Evaluate whether the fund's investment strategy aligns with your own investment goals and risk tolerance.

Investing in Shopify Through Funds:

Investing in Shopify through a fund like those mentioned above can provide several benefits:

• Diversification: Funds offer diversified exposure to various companies, reducing risk compared to investing solely in Shopify.
• Professional Management: Fund managers handle the research and selection of stocks, relieving investors of the burden.
• Accessibility: Funds are readily accessible through brokerage accounts, making investing easier.

Conclusion:

Shopify's continued growth makes it a valuable addition to many investment portfolios. Canadian funds provide investors with an avenue to participate in Shopify's success while benefitting from diversification and professional management. Carefully evaluating fund characteristics and your own investment objectives can help you choose the best option for your specific needs. Remember to conduct thorough research and consult with a financial advisor before making any investment decisions.