Quote:
Originally Posted by MoneyGuy
MM funds are not getting 3-3.5%. It's closer to half that ROR. ETFs are not as conservative as MM funds. You could look at a balanced ETF or mutual fund with very low volatility, but they are risker than MM funds. MM funds are crap right now. I'd go with a combination of GICs and high-interest savings accounts instead, or go a bit more aggressive with a very conservation ETF or mutual fund.
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Was doing some prowling on Globefund and found these MM funds that seems to be returning some decent returns:
RBC Canadian Money Market GIF: 4.29%
Manulife ML Elite Money Market: 3.79
These are just the bigger bank funds. About 12 or so at 3.50% or above. Pretty good for the practically zero risk involved. Would I take a 4.29% return for the next 12 months? Definately for the risk involved.
Now to take the $25,000 @ 0% for 15 months I got from a credit card and plow it into one of these (Non TFSA of course)...easy money.
EDIT: the Manulife fund seems to be a no load fund, not sure about RBC, nor can I find their fund to buy on TD WebBroker. I'm thinking it can only be bought through RBC?