There is no question that saving and investing your money is crucial. But with investing having a bit of a learning curve and requiring timely research before you commit your capital, not having enough time can be a problem. Because investing is so important, though, it’s still crucial to put your money to work. That’s why you’ll want to start finding simple Canadian ETFs to buy now.
Whether it’s real estate you’re looking to invest in, passive income you’re looking to generate, or a specific industry you want exposure to, there’s an ETF for almost anything. Moreover, ETFs are some of the simplest ways to allow you to put your money to work.
So if you don’t have the time to research your own investments or manage your portfolio, here are three simple Canadian ETFs to buy now.
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A top Canadian ETF to buy for growing passive income
In this market environment, it never hurts to own high-quality companies that pay a dividend. And of all the dividend stocks in Canada, most of the best investments to buy are on the Canadian dividend aristocrats list. That’s why one of the simplest ETFs to buy now is the iShares S&P/TSX Canadian Dividend Aristocrats Index ETF (TSX: CDZ).
Canadian dividend aristocrats aren’t just high-quality dividend stocks. They are some of the best to buy because these companies are all constantly increasing their dividend payments each year.
So being able to buy one fund that offers exposure to several different high-quality dividend stocks is an appealing proposition. Investors will gain exposure to stocks in many different industries, the majority of which being financial services, real estate, and energy.
Therefore, if you’re looking for simple but high-quality Canadian ETFs you can buy now to start growing your capital, the CDZ ETF and its 3.1% yield is one of the best funds to consider.
A top Canadian gold stock fund
In addition to high-quality dividend stocks, gold stocks are another excellent investment to make in this market environment. However, investing in individual gold producers can be slightly risky, so it’s much safer and simpler for investors instead to consider a fund like the iShares S&P/TSX Global Gold Index ETF (TSX: XGD).
The XGD offers investors exposure to a basket of gold stocks. So it’s still an excellent investment if you want exposure to gold, as gold stocks are almost always leveraged to the price of the precious metal. But because you gain exposure to several gold companies that all have different operations diversified around the world, your capital is much more protected.
So while uncertainty is so high, if you’re looking to protect your portfolio by gaining exposure to gold, the XGD is one of the best Canadian ETFs to buy now.
One of the best Canadian ETFs to buy now
Having exposure to Canadian banks is one of the best industries to own for the long run. Canadian banks are highly resilient and have proven to be top dividend growth stocks to own for decades.
In addition, as interest rates are starting to increase, bank stocks and other financials are some of the top businesses that will benefit. So if you’re looking for a simple investment to make today, one of the best ETFs to buy is the BMO Equal Weight Banks Index ETF (TSX: ZEB).
The fund offers roughly equal exposure to each of the biggest six banks in Canada. This way, it ensures that you’ll benefit when the entire sector is growing. In addition, though, it also offers diversification from single stock risk. So for many investors, especially if you don’t have much time to manage your portfolio, the ZEB is one of the best Canadian ETFs to buy now.
Plus, on top of the upside potential that it has over the coming years as interest rates increase, the fund also offers a 3.1% yield today, making it perfect to buy and hold for years.
