Canaccord Genuity has entered the ETF market with the launch of the first ETF from its Quest research platform, developed through Waystone’s white-label platform. The product is a rules-based strategy of 30 global companies.
Article created by the editorial staff of ETFWorld.co.uk
James Congdon, Head of Quest at Canaccord Genuity
The Quest Global Equity Cashflow Compounder UCITS ETF (ISIN: IE000R6OT933) was listed on the London Stock Exchange on 26 October 2026, with a total expense ratio of 0.55%. The fund was launched by Waystone through its white-label ETF platform and marks the entry of Quest, Canaccord Genuity’s research platform, into the ETF market. The ETF tracks an index of 30 liquid global companies selected for their ability to generate strong cashflows.
According to Waystone, the fund trades on the London Stock Exchange in US dollars and pounds sterling and will initially target UK investors.
Key data
Name: Quest Global Equity Cashflow Compounder UCITS ETF
ISIN: IE000R6OT933
Listing date: 26 October 2026
Exchange: London Stock Exchange
Trading currencies: USD and GBP
TER: 0.55%
Index: Solactive Quest® Global Equity Cashflow Compounder Index
Number of constituents: 30
Structure: UCITS ETF hosted on Waystone’s white-label ETF ICAV platform
The index and the Quest cashflow methodology
The ETF tracks the Solactive Quest® Global Equity Cashflow Compounder Index. According to the fund’s official website, the index applies a transparent, rules-based methodology to a broad universe of developed-market equities.
The process uses Canaccord Genuity’s proprietary Quest research. Eligible companies are assessed for:
cashflow strength;
business quality and financial quality;
financial resilience;
risk characteristics.
The companies are then scored, ranked and weighted according to predefined rules. The resulting portfolio is concentrated on 30 companies.
The official website states that the ETF focuses on companies with characteristics associated with strong cashflow generation, reinvestment capacity, business quality, financial resilience and disciplined capital allocation.
Waystone explains that the methodology looks at the cash a business generates relative to the capital it employs. The issuer presents this as an alternative measure of corporate quality to accounting-based metrics such as return on equity.
Index performance
Waystone states that, since its inception in 2015, the index has delivered long-term returns above the MSCI World Index. The press release does not give figures.
The ETF itself has no performance history, as trading began on 26 October 2026. Past performance of an index is not a reliable indicator of future results.
Quest: three decades of institutional research
Quest is an analytical platform produced by Canaccord Genuity Limited. According to Waystone, it provides proprietary risk and valuation metrics, cash flow analysis and trade validation summaries across 20,000 global equities.
The platform was launched in 1996 for institutional investors. It uses Cash Flow Returns on Capital (CFROC) and a 40-year discounted cash flow (DCF) model. Waystone states that the aim is to challenge market consensus through cash flow analysis rather than traditional accrual-based metrics.
The platform also offers quantitative stock screens, portfolio reviews through the Quest triAngle model and an AI assistant, Questy, for retrieving financial metrics.
The official website states that the ETF makes Quest research accessible to a wider audience of investors. Until now, the research has been produced for professional and institutional investors.
Waystone’s white-label ETF platform
The fund is hosted on Waystone’s white-label ETF ICAV platform. According to Waystone, this gives Quest access to specialist ETF infrastructure and services without the cost and complexity of building its own operational set-up.
Waystone describes the product as the world’s first ETF based on Cashflow Returns on Capital. The description is the issuer’s.
James Congdon, Head of Quest at Canaccord Genuity, said: “For more than 30 years, Quest has provided institutional investors with differentiated research focused on cashflow as the foundation of corporate quality, and the launch of our first ETF marks an important new chapter in bringing insights from that research to a broader range of investors in a transparent, rules-based form. We are grateful to Waystone for their support in bringing this opportunity to market.”
Paul Heffernan, Global Head of Waystone ETFs, said: “We are delighted to partner with Quest on its first ETF, bringing a distinctive investment strategy to market. This launch demonstrates how our ETF white-label platform can support established investment firms as they expand into ETFs, providing the specialist ETF expertise across capital markets, customised operating infrastructure and world class governance needed to launch efficiently and build for long-term growth.”
Conclusions
The Quest Global Equity Cashflow Compounder UCITS ETF makes Canaccord Genuity’s Quest methodology available in a listed fund for the first time. The ETF holds 30 global companies selected by a rules-based process centred on cashflow generation relative to capital employed. It trades on the London Stock Exchange in USD and GBP, with a TER of 0.55%, and is aimed initially at UK investors.
With 30 constituents, the fund is considerably more concentrated than a market-capitalisation global equity tracker. Investors will be able to assess the ETF’s own record only as it builds up from the listing date.
Source: ETFWorld.co.uk
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