ZCH, GLCC: 2 Canadian ETFs with Over 20% Upside Potential, According to Analysts

The BMO MSCI China ESG Leaders Index ETF (TSE:ZCH) and the Global X Gold Producer Equity Covered Call ETF (TSE:GLCC) are two Canadian ETFs that have witnessed strong performance in 2024 so far. Furthermore, analysts project that both ETFs could achieve over 20% growth in the next 12 months. This makes ZCH and GLCC worth considering by investors looking for diversification and long-term growth in the Canadian market.

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

BMO MSCI China ESG Leaders Index ETF

The ZCH ETF seeks to track the MSCI China ESG Leaders index, which includes Chinese companies with high environmental, social, and governance (ESG) ratings. The ETF has $90.03 million in assets under management (AUM) and an expense ratio of 0.67%. Its top 10 holdings contribute 67.16% of the portfolio. Year-to-date, ZCH ETF has generated a return of 32.3%.

On TipRanks, ZCH has a Strong Buy consensus rating based on 64 Buys, 101 Holds, and two Sells assigned in the last three months. At C$19.08, the average ZCH ETF price target implies over 22% upside potential.

Global X Gold Producer Equity Covered Call ETF

The GLCC ETF provides exposure to North American gold-producing companies. It generates monthly income through dividends and covered call options. Importantly, GLCC has $244.77 million in AUM, with the top 10 holdings contributing 83.94% of the portfolio. The GLCC ETF has returned 27.3% 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$35.97, the average GLCC ETF price target implies a 32.62% 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 ZCH and GLCC due to the solid upside potential expected by analysts.

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