Other Canada ETFs include the First Trust Canada AlphaDEX Fund (NYSEArca: FCAN), SPDR MSCI Canada Quality Mix ETF (NYSEArca: QCAN) Guggenheim Canadian Energy Income Fund (NYSEArca: ENY) and the IndexIQ Canada Small Cap ETF (NYSEArca: CNDA).
“Metals and energy producers meanwhile have fueled the resurgence in Canadian equities, as top performers including First Majestic Silver Corp. and Teck Resources Ltd. saw their value more than triple in the first half. A gauge of raw-materials stocks soared 51 percent in the same period, the best year-to-date performance for the measure in at least 30 years, according to data compiled by Bloomberg,” reports the news agency.
Some oil market observers believe that oil’s recent rally is still in the early innings and that a new bull market for the commodity is being born.
“Unlike last year, when commodity markets rallied through the second quarter only to fall sharply come the third as oversupply persisted, this rally looks more sustainable as physical markets have tightened considerably,” according to a Citigroup note posted by OilPrice.com. “Global demand continues to grow at a moderate rate while the pullback in capital spending is reducing not just supply growth but total supplies across nearly all extractive industries.”