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Canadians bullish on most asset classes says Horizons ETFs

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The best performing equity group was Canadian Energy (S&P/TSX Capped Energy™ Index) with advisors and investors both ranking this as their most bullish asset class (64% and 62% respectively).

“Now that global travel opportunities and transport of goods globally are increasing, energy demand is on the rise, which has resulted in strong performance for Canada’s energy sector,” said Mark Noble, Executive Vice President, ETF Strategy at Horizons ETFs.

With a 7% gain in the second quarter, Canadian Financials (S&P/TSX Capped Financials™ Index) was also a shining light for both investors and their advisors. However, both reduced their bullishness slightly in the latest survey with advisors at 63% (down 10pp) and investors at 53% (down 6pp).

Loonie split

Investors are split on their view of the Canadian dollar versus the US dollar with 36% bullish and 35% bearish. Advisors were more confident in the loonie with 40% bullish.

“On top of the strong tailwinds with energy prices rising, Canada has also faced some of the longest and most stringent restrictions in the developed world,” added Noble. “As the country now re-opens with a high vaccination rate relative to the rest of the world, foreign investors seem to be increasingly favouring Canada versus other developed markets, as highlighted by the relative outperformance of Canadian equities during the last quarter.”

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