The Claymore Oil Sands exchange traded fund is expected to begin trading in mid-October and will track the Sustainable Oil Sands Sector Index.
Canada holds the key to the world’s second largest proven reserves of oil with about 175 billion barrels. However, it is expensive and difficult to turn the tarsands into crude, and the oil sands currently produce just 1 million barrels per day compared to the 12 million coming out of Saudi Arabia.
The new ETF’s holdings will include Suncor Energy, Imperial Oil, Canadian Oil Sands Trust, Shell Canada, Opti Canada, Western Oil Sands, Synenco Energy, UTS Energy, Petrobank Energy and Resources, and Canadian Natural Resources.
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Yaser Anwar is a guest author at ETFtrends & the editor of Investment Ideas by Yaser Anwar blog. The author of this article is not a registered financial advisor & does not give investment advice. This article does not comprise any solicitation to buy or sell securities, ETFs or other investment vehicles.