CIBC Avantis ETFs: New Factor Investing Options for Canadian Investors

A longstanding gripe among Canadian investors has been the lack of local, Canadian dollar-denominated factor investing solutions, particularly for tilts such as small caps, value stocks, and small cap value.

You could always convert Canadian dollars to U.S. dollars and buy U.S.-domiciled ETFs from Avantis Investors and Dimensional Fund Advisors. But not everyone wants to deal with currency conversion, and for many brokerages, the spreads can be high.

That changed in February and March 2026, when CIBC partnered with Avantis Investors to bring a lineup of seven factor ETFs to Canada. There has been a fair amount of excitement around these launches, and some of it is justified. But if you are coming from a low-cost indexing background, there are a few things worth understanding before buying.

What are the CIBC Avantis ETFs?

The current CIBC Avantis ETFs cover U.S., international, emerging markets, Canadian, and global equities, with tilts primarily toward value and size, or both. There are a total of eight options.

I’ve included a screenshot from CIBC’s ETF brochure that summarizes most of them neatly, but keep in mind there’s one missing, the CIBC Avantis CIBC All-Equity Asset Allocation ETF (CAGE).

Source: CIBC as of April 27th, 2026

Management fees range from 0.19% for the Canadian equity strategy to 0.39% for global small cap value. These are management fees, not full management expense ratios, since Canadian ETFs do not report MERs until they have at least one year of operating history. On the whole, they are reasonable.

These are actively managed ETFs. They do not track indexes. Instead, Avantis applies a rules-based methodology that targets cheaper stocks, smaller companies, and incorporates profitability screens to avoid lower-quality firms. Momentum is also screened as part of the rebalancing process.

Because these are new launches, liquidity is still developing, which can result in wider bid-ask spreads. That said, the ability to trade in Canadian dollars is a meaningful convenience for many investors.

Are the CIBC Avantis ETFs worth it?

If you are already a factor investor, these ETFs expand and simplify your toolkit as a Canadian. Avantis and Dimensional are widely regarded as strong implementations of factor investing and both put out a lot of good research. But factor investing can and does underperform at times.

Over the last decade, mega-cap growth stocks have led the market. Small cap value has lagged. That creates a behavioral challenge. Investors often buy into the strategy after reading the research, then lose conviction during periods of underperformance.

If you are going to commit to factor tilts, especially small cap value, you need a long time horizon. A decade is a reasonable minimum. International diversification also matters. Limiting exposure to just Canada or the U.S. reduces the effectiveness of the strategy.

One option that stands out to me is the Avantis CIBC Global Small Cap Value ETF (CASV). It can serve as a targeted tilt alongside a low-cost diversified asset allocation ETF like the iShares Core Equity ETF Portfolio (XEQT), which is widely used by Canadian investors.

Personally, I am not planning to use these. I prefer to keep my portfolio simple. Broad market exposure can be obtained at a fraction of their cost, and that is sufficient for my goals. There is a strong academic case for factor investing. But there is also a strong case for simplicity.

If your priority is keeping costs low and avoiding complexity, these ETFs may not be necessary. But if you are committed to factor investing and want a Canadian-listed solution, this lineup is one of the better options available right now.

And personally, I would not be surprised to see Dimensional Fund Advisors eventually follow with its own Canadian ETF offerings, but for now, Avantis Investors has the lead.