RBC Global Asset Management introduces RBC U.S. Banks Yield Index ETF

TORONTO, May 15, 2018 /CNW/ - RBC Global Asset Management Inc. (RBC GAM Inc.) today announced the launch of RBC U.S. Banks Yield Index ETF (ticker: RUBY), which begins trading on the Toronto Stock Exchange today.

RBC U.S. Banks Yield Index ETF tracks the Solactive U.S. Banks Yield Index, which follows the performance of 21 of the largest U.S. dividend paying bank stocks, as measured by market capitalization and weighted based on their annual dividend yields. The management fee is 0.29%.

"Through our ongoing discussions with investors and advisors, there has been notable interest in further exposure to the U.S banking sector," said Mark Neill, head of RBC ETFs. "This is driven by a desire for more diversification in the financial sector and by recent trends in the U.S., such as strong growth signals and changing monetary policy that has created a positive long-term outlook for U.S. banks. As one of Canada's leading providers of ETFs, we are pleased to offer an innovative and low-cost solution that will enable investors and advisors to invest in this sector."

RBC U.S. Banks Yield Index ETF is also available in USD and CAD hedged options to allow investors to choose their currency exposure.

For further information regarding RBC ETFs, please visit www.rbcgam.com/etfs.

Commissions, management fees and expenses all may be associated with investments in exchange-traded funds (ETF). Please read the applicable prospectus or ETF Facts document before investing. ETFs are not guaranteed, their values change frequently and past performance may not be repeated. ETF units are bought and sold at market price on a stock exchange and brokerage commissions will reduce returns. RBC ETFs do not seek to return any predetermined amount at maturity. Index returns do not represent RBC ETF returns. RBC ETFs are managed by RBC Global Asset Management Inc., an indirect wholly-owned subsidiary of Royal Bank of Canada.

About RBC Global Asset Management
RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC) and includes institutional money managers BlueBay Asset Management and Phillips, Hager & North Investment Management. RBC GAM is a provider of global investment management services and solutions to institutional, high-net-worth and individual investors through separate accounts, pooled funds, mutual funds, hedge funds, exchange-traded funds and specialty investment strategies. The RBC GAM group of companies manage approximately $425 billion in assets and have approximately 1,400 employees located across Canada, the United States, Europe and Asia.

SOURCE RBC Global Asset Management