Quick question: Which are Canada’s hottest index funds?

Considering the stampede into Vanguard Canada’s ETFs since their 2011 debut, many would give them the nod. In fewer than two years, their assets under management exceeded $1-billion.

But there’s another fast horse in the ETF race, and it’s hot on Vanguard’s tail.

First Asset launched its first exchange-traded funds in June, 2011. This month, the firm’s indexes surpassed $1-billion under management. They were slower out of the gate than Vanguard, but they’ve made up plenty of ground. During the past 12 months, First Asset’s ETFs have increased its assets under management by more than 300 per cent.