10 Best Canadian ETFs to Buy

3. iShares Canadian Growth Index ETF (TSX:XCG)

5-year Share Price Performance as of December 9, 2024: 59.52%

The iShares Canadian Growth Index ETF (TSX:XCG) employs a straightforward strategy, ranking large- and mid-cap Canadian stocks based on a composite score of growth and value characteristics. Stocks with the strongest growth metrics are included, and holdings are weighted by market capitalization. Over the past year, the C$104.2 million ETF delivered a 28.43% return, closely matching the average gain of funds in the Canadian equity category.

Waste Connections, Inc. (NYSE:WCN), a leading provider of non-hazardous waste collection, transfer, disposal, and resource recovery services, is one of the top holdings in the iShares Canadian Growth Index ETF (TSX:XCG). The company delivered a strong financial performance in Q3 2024, showcasing notable growth in both revenue and adjusted EBITDA. Revenue rose to $2.338 billion, reflecting a 13.3% increase compared to the previous year, while adjusted EBITDA surged 17.3% year-over-year to $787.4 million. The company also raised its full-year guidance, projecting revenue of approximately $8.9 billion and adjusted EBITDA of around $2.91 billion. In addition, Waste Connections, Inc. (NYSE:WCN) announced a 10.5% increase in its quarterly cash dividend, continuing its streak of double-digit dividend growth.

In October, Oppenheimer revised its outlook on Waste Connections, Inc. (NYSE:WCN), lowering the price target slightly from $194 to $192 but reaffirming an Outperform rating on the stock. While the company faced challenges in waste volumes and the construction and demolition segment, analysts remain optimistic, projecting mid- to high single-digit revenue and EBITDA growth for 2025.