Key Takeaways
- • RBC iShares alliance launched three new leveraged ETF Series on June 9, 2026, trading on Cboe Canada: RBC Enhanced North American Value Fund (RNVL, 1.00% MER), RBC Enhanced Quant Canadian Dividend Leaders Fund (RCDL, 0.65% MER), and RBC Enhanced Quant U.S. Dividend Leaders Fund (RUDL, 0.65% MER).
- • All three ETF Series employ approximately 25% leverage on net asset value, enabling medium and long-term investors to access leveraged alternative strategies with daily liquidity and lower costs than traditional alternatives.
- • The launch expands RBC Global Asset Management Inc.'s alternative investment solutions suite, addressing portfolio construction challenges during periods of heightened market volatility, according to Stephen Hoffman, Managing Director of Exchange-Traded Funds at RBC GAM Inc.
- • Two of the three funds (RCDL and RUDL) carry identical management fees of 0.65%, while the North American Value Fund (RNVL) has a higher 1.00% fee, reflecting different underlying strategy complexity.
Summary
The RBC iShares alliance announced the launch of three new exchange-traded funds on June 9, 2026, expanding its alternative investment strategy offerings for Canadian investors and advisors. The new ETF Series—RBC Enhanced North American Value Fund (RNVL), RBC Enhanced Quant Canadian Dividend Leaders Fund (RCDL), and RBC Enhanced Quant U.S. Dividend Leaders Fund (RUDL)—began trading on Cboe Canada on the announcement date and are managed by RBC Global Asset Management Inc.
The three funds employ a consistent leverage approach, deploying approximately 25% leverage at each fund's net asset value to increase potential returns. This structural feature distinguishes them as medium and long-term solutions that offer convenient, cost-effective access to leveraged strategies while maintaining daily liquidity—a key advantage over traditional alternative investment vehicles. The management fee structure reflects differentiation in strategy complexity: the two dividend-focused strategies (RCDL and RUDL) are priced identically at 0.65%, while the North American Value strategy (RNVL) carries a 1.00% management expense ratio.
According to Stephen Hoffman, Managing Director of Exchange-Traded Funds at RBC Global Asset Management Inc., the launch responds to ongoing investor demand for solutions that address portfolio construction challenges during periods of market volatility. The new ETF Series represent an extension of RBC GAM Inc.'s existing alternative investment solutions suite, leveraging the combined investment expertise available within the RBC iShares alliance to deliver accessible alternatives for Canadian wealth advisors and institutional investors seeking enhanced return potential within a liquid, tax-efficient ETF wrapper.
The three funds employ a consistent leverage approach, deploying approximately 25% leverage at each fund's net asset value to increase potential returns. This structural feature distinguishes them as medium and long-term solutions that offer convenient, cost-effective access to leveraged strategies while maintaining daily liquidity—a key advantage over traditional alternative investment vehicles. The management fee structure reflects differentiation in strategy complexity: the two dividend-focused strategies (RCDL and RUDL) are priced identically at 0.65%, while the North American Value strategy (RNVL) carries a 1.00% management expense ratio.
According to Stephen Hoffman, Managing Director of Exchange-Traded Funds at RBC Global Asset Management Inc., the launch responds to ongoing investor demand for solutions that address portfolio construction challenges during periods of market volatility. The new ETF Series represent an extension of RBC GAM Inc.'s existing alternative investment solutions suite, leveraging the combined investment expertise available within the RBC iShares alliance to deliver accessible alternatives for Canadian wealth advisors and institutional investors seeking enhanced return potential within a liquid, tax-efficient ETF wrapper.
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