Question 1

What is PZW?

Accepted Answer

PZW — CI Invesco RAFI Global Small-Mid ETF — 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 $47.90 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: +15.28%, 1-year: +18.55%, 3-year annualised: +20.74%, 5-year annualised: +10.14%, 10-year annualised: +10.44%. Past performance is not a guarantee of future results. The 3-year Sharpe ratio is 1.17, 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 US 1500 Small-Mid ETF (PRFZ, 50.7%), Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN, 49.5%). 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 (18.6%), Financial Services (14.1%), Technology (13.7%). 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 $26M 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 10.95% and a beta of 1.03 (roughly in line with the broad market). Its 3-year Sharpe ratio of 1.17 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
2026-10-01	$47.90	$47.90	$47.90	$47.90	$47.90	100
2026-09-30	$47.81	$47.81	$47.81	$47.81	$47.81	0
2026-09-28	$48.19	$48.19	$48.19	$48.19	$48.19	427
2026-09-25	$47.96	$47.96	$47.96	$47.96	$47.96	0
2026-09-24	$47.96	$47.96	$47.96	$47.96	$47.96	100
2026-09-23	$48.59	$48.59	$48.59	$48.59	$48.59	0
2026-09-22	$48.62	$48.62	$48.62	$48.62	$48.62	337
2026-09-21	$48.12	$48.12	$48.12	$48.12	$48.12	200
2026-09-14	$47.88	$47.88	$47.88	$47.88	$47.88	0
2026-09-11	$47.38	$47.38	$47.38	$47.38	$47.38	0

Sector	Weight
Industrials	18.57%
Financial Services	14.07%
Technology	13.71%
Healthcare	12.60%
Consumer Cyclicals	11.53%
Real Estate	7.54%
Basic Materials	6.74%
Energy	5.03%
Consumer Defensive	4.46%
Communication Services	3.89%
Utilities	1.87%

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MSTE	Harvest MicroStrategy Enhanced High Income Shares ETF - Class A Units	$2.85	+4.40%
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HND	BetaPro Natural Gas 2x Daily Bear	$24.40	+4.01%

CIBC Investor's Edge

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

Price Chart (30 Days)

Key Statistics

Recent Price History

Annualised Returns

Top 10 Holdings

Sector Weights

About CI Invesco RAFI Global Small-Mid ETF

ETF Details

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Compare PZW

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Frequently Asked Questions — PZW