Rob Carrick: A one-step way for investors to pounce on battered bank stocks

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If you’re open to buying all the big banks, consider one of several exchange-traded funds specializing in this area

The ETFs listed below offer straight-up bank exposure, without a covered call options strategy or leverage.: The name says it all – assets in the fund are equally divided among the Big Six banks; the management expense ratio is 0.28 per cent and dividend distributions are made monthly, as is typical for this type of ETF.

One final note for taxable accounts: Monthly cash distributions are primarily dividend income, with a small return of capital as well

 

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