(HXT) Global X S&P/TSX 60 Index - Ratings and Ratios

Naval Ravikant here. Let’s talk about the Global X S&P/TSX 60™ Index Corporate Class ETF, ticker HXT, trading on the Toronto Stock Exchange. This ETF is designed to track the performance of the S&P/TSX 60 Index, which is a market-capitalization-weighted index of 60 large-cap Canadian companies. It’s essentially a basket that gives you exposure to some of the biggest names in Canada, spanning sectors like financials, energy, and industrials.

HXT is domiciled in Canada, and its issuer, Horizons ETFs, has a reputation for innovative investment solutions. The fund is part of the Morningstar Canada GR CAD index, which is designed to capture the performance of Canadian equity securities. With an AUM of approximately 4.1 billion CAD, HXT is a sizeable fund, which typically means lower trading costs and tighter spreads for investors.

From a valuation standpoint, HXT doesn’t have traditional metrics like P/E or P/B because it’s an ETF tracking an index. However, investors can look at the underlying index’s valuation metrics to get a sense of where the market is trading. The fund’s structure as a corporate class ETF is also worth noting, as it’s designed to be tax-efficient for Canadian investors, particularly those holding it in non-registered accounts.