10 Best Canadian ETFs to Buy

5. TD Canadian Equity Index ETF (TSX:TTP)

5-year Share Price Performance as of December 9, 2024: 54.73%

The TD Canadian Equity Index ETF (TSX:TTP), offered by TD Asset Management under Toronto-Dominion Bank, is a Canadian index fund known for its low fees. Despite being a relatively new entrant in the Canadian ETF market, it has gained attention for its affordability. The ETF tracks the Solactive Canada Broad Market Index, featuring a management fee of just 0.04% and a management expense ratio of 0.05%.

Ranked among the fund’s top 10 holdings, The Bank of Nova Scotia (NYSE:BNS) provides a comprehensive range of banking and financial services across Canada, the U.S., and international markets. RBC Capital Markets recently revised its outlook for The Bank of Nova Scotia (NYSE:BNS), raising its price target from $65 to $74 while maintaining a Sector Perform rating. The adjustment reflects expectations of approximately 10% core earnings per share growth in 2025, despite a recent downward adjustment in estimates.

In terms of performance, The Bank of Nova Scotia (NYSE:BNS) reported International Banking earnings of $634 million—a 6% decline quarter-over-quarter but a 14% increase year-over-year. However, these results fell short of the $706 million estimate due to lower-than-expected revenues. On a positive note, the bank posted strong adjusted earnings of $2.2 billion, with a diluted EPS of $1.63. Additionally, the acquisition of a 14.9% stake in KeyCorp is anticipated to boost the bank’s earnings per share and return on equity.