CAEM ETF: what CAEM.TO is, what it holds, and how it works

Short answer: CAEM.TO is the Avantis CIBC Emerging Markets Equity ETF. It listed on the TSX on March 31, 2026, at a 0.39% management fee, the last of the eight Avantis CIBC funds to launch. It holds emerging-market companies with tilts toward value, smaller, and profitable companies. It is the Canadian-listed sibling of the U.S.-listed AVEM. The full MER isn’t published yet because of the first-year reporting rule.

CAEM is the emerging-markets sleeve, and the newest fund in the Avantis CIBC lineup. Until it listed, anyone building a complete Avantis portfolio from the individual sleeves had no emerging-markets piece and had to hold CAGE (which covers EM internally) or a separate fund.

This is not financial advice. I’m sharing what I’ve learned from my own research, and your situation might differ. Fund details change, so always check the latest disclosures before deciding.

What CAEM actually is

CAEM.TO is an ETF listed on the TSX in Canadian dollars. CIBC handles the wrapper; Avantis runs the strategy. It holds companies across emerging markets, screened toward value and profitability rather than pure size. Its closest U.S.-listed cousin is AVEM, the Avantis Emerging Markets Equity ETF.

What CAEM holds

CAEM holds a diversified basket of emerging-market companies, screened toward value and profitability. Emerging-market indexes are already volatile and concentrated in a few large countries and names; the Avantis screens spread weight toward cheaper, profitable companies rather than the largest by size.

CIBC hasn’t published a full country and top-holdings breakdown yet. The mandate is clear: emerging-market equity, Avantis methodology.

The fee, and the first-year MER rule

CAEM’s management fee is 0.39%, the top of the Avantis CIBC range, because emerging-markets investing is more expensive to run. The U.S.-listed AVEM is 0.33%, but carries USD conversion and a USD account for a Canadian. CAEM removes that by being CAD-denominated. The full MER isn’t published under the first-year rule; expect it a few basis points above 0.39%.

How the factor tilt works

A cap-weighted emerging-markets fund owns the market by size, concentrated in a handful of large countries and megacaps. CAEM tilts toward value, smaller size, and profitability. The academic basis is Fama-French plus Novy-Marx.

How CAEM fits with the rest of the lineup

CAEM is the emerging-markets building block, the last piece for a self-built Avantis portfolio (CACE, CAUS, CADE, CAEM). It has the shortest Canadian track record of the eight. If you want one fund and no work, CAGE already holds emerging markets internally and you don’t need CAEM separately. Full lineup in the Avantis CIBC ETFs guide.

Frequently asked questions

What is CAEM.TO?

The Avantis CIBC Emerging Markets Equity ETF, managed by CIBC with Avantis as sub-advisor. Listed March 31, 2026, CAD-denominated, holding emerging-market companies tilted toward value, smaller size, and profitability. It’s the newest fund in the lineup.

What is CAEM’s MER?

Management fee 0.39%, the top of the Avantis CIBC range. Full MER not published yet (first-year rule). The U.S.-listed AVEM is 0.33% but carries USD friction for a Canadian.

Why is CAEM more expensive than the other sleeves?

Emerging-markets investing has higher trading and operational costs than developed markets. The 0.39% fee reflects that, the same reason a cap-weighted EM index fund costs more than a U.S. one.

Can I hold CAEM in a TFSA or RRSP?

Yes, in any standard Canadian registered or non-registered account. Being Canadian-listed, no currency conversion is needed.

Bottom line

CAEM completes the Avantis CIBC lineup with the emerging-markets sleeve. It’s the most demanding of the eight to hold, because it stacks factor patience on top of emerging-markets volatility. For a self-built Avantis portfolio it’s the missing piece; for everyone else, CAGE already covers emerging markets.