In the case of BBCA, specifically, this fund is similar to the iShares MSCI Canada ETF (EWC), a 22-year-old ETF in which J.P. Morgan is also a lead investor.
According to J.P. Morgan’s most recent 13-F filing, as of June 30, the firm owned 8.9 million shares of EWC, or more than 32% of all shares outstanding — the largest percentage held by a 13-F filer, by far.
J.P. Morgan’s holding in EWC had been worth only $253 million, however, a sum much less than the inflows recently witnessed into BBCA.
EWC and BBCA are very similar funds that focus on Canadian large- and midcap equities. Their main difference is that BBCA, which has an expense ratio of 0.19 percent, is far less than EWC’s 0.49 percent.
— By Lara Crigger, ETF.com
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