BlackRock Launches First Fundamental Active Equity ETF in Canada

BlackRock has launched the iShares A.I. Innovation and Tech ETF (XBAI) in Canada on October 13, 2026, marking the firm's first fundamental active equity ETF in the country. Introduced through the RBC iShares alliance, the fund seeks long-term capital growth by investing in U.S. and international companies across the artificial intelligence value chain, from infrastructure and AI models to applications and services. XBAI invests at least 80% of its net assets in AI and technology equities under normal market conditions, with flexibility across market capitalizations and geographies, including emerging markets. Managed by BlackRock's Fundamental Equities Technology team, led by Tony Kim, the ETF aims to identify established AI leaders and emerging beneficiaries of adoption. It carries an annual management fee of 0.70%, excluding applicable taxes.