GLCC, NFAM: 2 Canadian ETFs with Strong Upside Potential, According to Analysts

The Global X Gold Producer Equity Covered Call ETF (TSE:GLCC) and the NBI Canadian Family Business ETF (TSE:NFAM) are two Canadian ETFs that have shown strong performance in 2024 so far. Interestingly, analysts project that both ETFs could achieve over 20% growth in the next 12 months. This makes GLCC and NFAM worth considering by investors seeking diversification and long-term growth in the Canadian market.

Let’s take a deeper look at these two ETFs.

Global X Gold Producer Equity Covered Call ETF (GLCC)

The GLCC ETF gives investors exposure to a range of North American gold producers. It aims to provide monthly income through dividends and call option earnings. Importantly, GLCC has $227.83 million in assets under management (AUM), with the top 10 holdings contributing 83.94% of the portfolio. The GLCC ETF has returned 27.9% so far in 2024.

Overall, the GLCC ETF has a Moderate Buy consensus rating. Of the 18 stocks held, 15 have Buys and three have a Hold rating. At C$34.39, the average GLCC ETF price target implies 24.09% upside potential.

NBI Canadian Family Business ETF (NFAM)

The NFAM ETF is suitable for investors looking to invest in Canadian family-owned companies that are publicly listed. It seeks to track the performance of the NBC Canadian Family Index. The NFAM ETF has $1.65 million in AUM and an expense ratio of 0.4%. Its top 10 holdings contribute 27.08% of the portfolio. Year-to-date, NFAM ETF has generated a return of 24.21%.

On TipRanks, NFAM has a Moderate Buy consensus rating based on 39 Buys and six Holds assigned in the last three months. At C$39.25, the average NFAM ETF price target implies about 20% upside potential.

Concluding Thoughts

ETFs are a low-cost, diversified, and transparent way to participate in the market. Investors looking for potential Canadian ETF recommendations could consider GLCC and NFAM due to the upside potential expected by analysts.

Disclosure