Question 1

What is PZW?

Accepted Answer

PZW — Invesco RAFI Global Small-Mid ETF CAD — is a Canadian-listed ETF trading on the TSX. NA

Question 2

What is the PZW ETF price today?

Accepted Answer

PZW last traded at $47.47 CAD on the TSX. See the price chart above for recent performance.

Question 3

What is the PZW MER (management expense ratio)?

Accepted Answer

PZW has a management expense ratio (MER) of 0% per year. This fee is automatically deducted from the fund's assets, so you never pay it directly — but it does reduce your net returns over time. At 0%, PZW is considered a low-cost ETF.

Question 4

What are PZW annualised returns?

Accepted Answer

PZW historical returns: YTD: +14.25%, 1-year: +29.21%, 3-year annualised: +18.97%, 5-year annualised: +10.64%, 10-year annualised: +10.99%. Past performance is not a guarantee of future results. The 3-year Sharpe ratio is 1.26, which measures risk-adjusted return.

Question 5

Does PZW pay dividends or distributions?

Accepted Answer

Yes, PZW distributes income to unitholders. The current distribution yield is approximately 1.64%, paid quarterly. Distributions may include dividends, interest, capital gains, or return of capital depending on the fund's holdings. In a TFSA or RRSP, distributions are sheltered from tax.

Question 6

What does PZW invest in?

Accepted Answer

PZW's top holdings include Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN, 50.2%), Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ, 49.4%). See the full Top 10 Holdings table above for a complete breakdown. The fund tracks the Morningstar Gbl SMID GR CAD.

Question 7

What sectors does PZW invest in?

Accepted Answer

PZW's largest sector exposures are Industrials (19.5%), Technology (14.7%), Financial Services (13.3%). The full sector breakdown is shown in the Sector Weights table on this page.

Question 8

How large is PZW? (Assets under management)

Accepted Answer

PZW has approximately $27M in assets under management (AUM). Larger AUM generally means better liquidity, tighter bid-ask spreads, and a lower risk of the fund being wound down.

Question 9

When was PZW launched?

Accepted Answer

PZW was launched on May 6, 2015, giving it a 11-year track record. A longer history makes it easier to evaluate how the ETF performs across different market cycles.

Question 10

How do I buy PZW in Canada?

Accepted Answer

PZW trades on the TSX under the ticker PZW. You can buy it through any Canadian brokerage, including Wealthsimple Trade (commission-free), Questrade, TD Direct Investing, RBC Direct, and CIBC Investor's Edge. It can be held in a TFSA, RRSP, FHSA, or taxable account.

Question 11

How risky is PZW?

Accepted Answer

PZW has a 1-year volatility of 10.43% and a beta of 1.03 (roughly in line with the broad market). Its 3-year Sharpe ratio of 1.26 indicates solid risk-adjusted returns. As with all market-linked investments, past volatility does not predict future risk.

Date	Open	High	Low	Close	Adj Close	Volume
2026-07-20	$47.47	$47.47	$47.47	$47.47	$47.47	0
2026-07-17	$47.77	$47.77	$47.77	$47.77	$47.77	0
2026-07-16	$47.77	$47.77	$47.77	$47.77	$47.77	100
2026-07-15	$47.85	$47.85	$47.85	$47.85	$47.85	0
2026-07-13	$48.32	$48.32	$48.32	$48.32	$48.32	0
2026-07-10	$48.34	$48.34	$48.34	$48.34	$48.34	0
2026-07-09	$47.95	$47.95	$47.95	$47.95	$47.95	0
2026-07-08	$48.46	$48.46	$48.46	$48.46	$48.46	0
2026-07-07	$49.05	$49.05	$49.05	$49.05	$49.05	0
2026-07-06	$48.87	$48.87	$48.87	$48.87	$48.87	0

Sector	Weight
Industrials	19.46%
Technology	14.68%
Financial Services	13.27%
Healthcare	12.09%
Consumer Cyclicals	11.80%
Real Estate	8.00%
Basic Materials	6.36%
Energy	4.42%
Consumer Defensive	4.20%
Communication Services	3.77%
Utilities	1.96%

Invesco RAFI Global Small-Mid ETF CAD (PZW : TSX)

CIBC Investor's Edge

Price Chart (30 Days)

Key Statistics

Recent Price History

Annualised Returns

Top 10 Holdings

Sector Weights

About Invesco RAFI Global Small-Mid ETF CAD

ETF Details

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Compare PZW

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Frequently Asked Questions — PZW