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How to Find Investments That Matter to You
Written by The Inspired Investor Team | Published on November 17, 2020
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What's the first thing you do when you land on your favourite retailer's website? Chances are, you start narrowing your search by using filters to help you find what you're looking for. You can often filter your search so you end up with options that are the right fit for you – while avoiding the ones you know don't meet your needs. Screeners are the equivalent for investors.
With thousands of stocks, exchange-traded funds (ETFs) and mutual fund options at your fingertips, it can be hard to figure out which ones suit you best. Screeners can help by presenting you with a curated list of investment ideas to explore.
What's the benefit?
1) You can save time by honing in on what's important to you. If you know you want to reinvest your dividends1 automatically, for example, why sift through all the choices that aren't DRIP-eligible2?
2) You can stay focused on your plan. Let's face it, it's easy to be influenced by decisions other investors are making when markets are moving quickly. A stock screener lets you set your parameters at a time when emotions aren't running high and can serve as a reminder that you've got a strategy in place for a reason.
3) You can explore ideas you may not have even thought of. Once you've set your criteria, you may uncover stock ideas you hadn't heard of, or considered, before. But since you know they check all the boxes that are important to you, you may decide to take a closer look.
Screeners at RBC Direct Investing
Screeners for stocks, ETFs and mutual funds can be all be found under Research on the Direct Investing site. Depending on whether or not you wish to enter your own criteria, there are two kinds:
Predefined Screeners
If you want a quick list of ideas to run with, Predefined Screeners might be right for you. The analyst-built lists are based on popular themes such as Value Stocks, Growth Stocks, Recent Gainers/Decliners and Highly Rated. For ETFs and mutual funds, there's also a variety of regional, sector and asset class exposures to choose from.
Create My Own
If you want a more hands-on experience, you can create your own list of investment ideas. In the screener of your choice, click on the Create My Own button. Choose from the five Quick Criteria filters on the page, or click on View All Criteria to see a comprehensive selection of filters for more customized results.
A sampling of filters for screening include sectors and industries, market capitalization, price-to-earnings ratio, management expense ratio (MER), passive or active ETFs and Series D mutual funds, to name just a few.
Tip: Once you have your lists of ideas, save them to your watchlists for easy monitoring.
Think of stock screeners as an important tool in your investing toolbox. They can help you discover ideas that you can research more thoroughly to determine if they are the right fit for you.
There's a world of investments waiting for you to discover.
View Legal Disclaimer
RBC Direct Investing Inc. and Royal Bank of Canada are separate corporate entities which are affiliated. RBC Direct Investing Inc. is a wholly owned subsidiary of Royal Bank of Canada and is a Member of the Investment Industry Regulatory Organization of Canada and the Canadian Investor Protection Fund. Royal Bank of Canada and certain of its issuers are related to RBC Direct Investing Inc. RBC Direct Investing Inc. does not provide investment advice or recommendations regarding the purchase or sale of any securities. Investors are responsible for their own investment decisions. RBC Direct Investing is a business name used by RBC Direct Investing Inc. ® / ™ Trademark(s) of Royal Bank of Canada. RBC and Royal Bank are registered trademarks of Royal Bank of Canada. Used under licence.
© Royal Bank of Canada 2020.
1Dividends earned pursuant to DRIP may be subject to requirements imposed by the Income Tax Act (Canada). It is your responsibility to ensure that any associated tax requirements or obligations are satisfied.
2The list of DRIP eligible securities is subject to change at any time without prior notice. RBC Direct Investing will purchase whole shares only. Some exclusions may apply. Some eligible securities such as preferred shares and voting class common shares will not reinvest into additional units of the same security but rather the underlying non-voting common share or similar security.
‡All other trademarks are the property of their respective owner(s).
The views and opinions expressed in this publication are for your general interest and do not necessarily reflect the views and opinions of RBC Direct Investing. Furthermore, the products, services and securities referred to in this publication are only available in Canada and other jurisdictions where they may be legally offered for sale. If you are not currently resident of Canada, you should not access the information available on the RBC Direct Investing website.
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