Shopify Investing: Best Canadian Funds

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Post on Nov 13, 2024

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Shopify Investing: Best Canadian Funds for Riding the E-commerce Wave

Shopify is a powerhouse in the e-commerce world, and many investors are keen to get a piece of the action. But how do you invest in Shopify without buying individual shares? Canadian investors have a great option: Investing in Canadian funds that hold Shopify stock. This lets you diversify your portfolio while getting exposure to a top tech company.

Why Invest in Canadian Funds?

Canadian funds offer several advantages:

• Diversification: They hold a basket of different stocks, spreading your risk across multiple companies.
• Professional Management: Experienced fund managers do the research and picking, saving you time and effort.
• Lower Fees: Canadian funds often have lower expense ratios compared to US mutual funds.
• Tax Efficiency: Canadian funds are designed to minimize taxes, particularly for long-term investors.

Top Canadian Funds with Shopify Exposure:

Here are some of the best Canadian funds with significant Shopify holdings:

1. iShares S&P/TSX 60 Index ETF (XEI)

This is a popular broad-market ETF that tracks the S&P/TSX 60 Index, which includes some of Canada's largest companies. It's a solid option for diversified exposure to the Canadian market, including Shopify.

2. BMO Equal Weight Banks Index ETF (ZEB)

While primarily focused on Canadian banks, this ETF also has a decent allocation to Shopify, making it a good choice for investors seeking a mix of financial and technology exposure.

3. Horizons Active Growth ETF (HAG)

This ETF has a focus on growth stocks and technology, so it's naturally heavy on Shopify. If you're looking for a fund with a higher concentration of Shopify shares, this is a good option.

4. CI Global Tech Index ETF (TEC)

This ETF tracks a global technology index and is heavily invested in tech giants like Apple, Microsoft, and Google. It also holds a sizeable position in Shopify, making it a great choice for investors seeking diversified tech exposure.

5. Purpose Innovation ETF (INN)

This ETF focuses on disruptive innovation in the tech sector, holding a significant portion of its portfolio in Shopify. It's a great way to get exposure to companies that are revolutionizing various industries, including e-commerce.

Investing in Shopify Through Funds: A Smart Move?

Investing in Canadian funds is an excellent way to access Shopify without directly buying individual shares. It allows you to diversify your portfolio and benefit from the expertise of professional fund managers.

Remember:

• Do your own research: Understand the fund's investment strategy, fees, and risk profile before investing.
• Consider your investment goals: Choose funds that align with your risk tolerance and financial objectives.
• Diversify your portfolio: Don't put all your eggs in one basket.

Investing in Shopify through Canadian funds can be a smart move for those looking for diversified exposure to this exciting company. However, make sure you carefully research and understand the funds you're considering before investing. Happy investing!