New data shows ETF adoption climbing even as cross-border confusion grows
Canadians are increasingly embracing exchange-traded funds as part of their investment mix, but new research suggests that a booming market is also creating added layers of complexity for investors.
A new survey commissioned by the Canadian ETF Association (CETFA) shows that 22% of Canadians now hold at least one ETF, highlighting how firmly the product has moved into the investment mainstream.
The research, conducted by SAGO between January 27 and February 2, 2026, was based on responses from 3,043 Canadians and points to both rising adoption and growing uncertainty around what investors actually own.
ETF ownership is highest among younger and mid-career investors, with 24% of Canadians aged 18 to 34 and 25% of those aged 35 to 54 reporting ETF holdings.
That compares with just 17% among Canadians aged 55 and over. The study also found that more than one third of ETF investors now hold a mix of Canadian and US-listed ETFs, reflecting increasingly global portfolio construction. However, 16% of respondents said they were unsure whether the ETFs they own are listed in Canada or the US.
“These findings show a Canadian ETF market that is both maturing and becoming more complex,” said Eli Yufest, executive director of the Canadian ETF Association. “Canadians are increasingly holding both US- and Canadian-listed ETFs, often through very different channels depending on age. The fact that many investors aren’t sure what they own underscores the need for clearer education, transparency and a policy framework that reflects how integrated the ETF marketplace has become.”
More than half of investors aged 55 and older said they purchase ETFs through a financial advisor, while younger Canadians are far more likely to use self-directed platforms.
Nearly half of ETF investors aged 18 to 34 reported buying through discount brokerages. Across all age groups, fees remain the single most important factor when selecting an ETF, cited by 56% of respondents, while ease of access through trading platforms is especially influential for younger investors.
The CETFA findings come as Canada’s ETF market continues to post record-breaking growth. According to industry data, ETF net sales reached $16.9 billion in December, the highest monthly total ever recorded. That surge capped off a banner year in which ETFs attracted nearly $126 billion in net inflows, a sharp increase from roughly $75 billion the year before.
Total ETF assets under management climbed to a record $713 billion by year-end, representing one-year growth of nearly 38%. Equity ETFs drove much of the momentum, pulling in $9.7 billion in December alone, while fixed income, balanced, specialty and money market ETFs also saw healthy inflows. Overall ETF assets increased by about $195.5 billion over the year.
