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"Value" is a subjective term, for which there seems to be no end of varying selection criteria. But IMHO, in the Canadian market, there is not much difference between the holdings of a "Value Fund" and a solid Dividend fund such as those owned by the big banks. So if you want an index that will emulate "value" stocks, try a CDN Dividend Index. There is another thread here somewhere discussing some recent entries to this field. (If you could buy a fund that used just the O'Shaugnessey CDN Value Strategy for selecting stocks, that would be a modestly priced alternative, but such a fund doesn't exist as far as I know.)
Small cap funds in the CDN market are problematic because our market is so small. O'Shaughnessey US Growth is a small-medium cap fund, and they have had to close it because of oversubscription. There just aren't that many good small cap companies to go around, and there can be lot of churn in portfolios as successful companies are bought up by larger companies, or by US companies. Some former CDN small cap companies have expanded their prospectuses in recent years to become North American small cap.
Small cap funds in the CDN market are problematic because our market is so small. O'Shaughnessey US Growth is a small-medium cap fund, and they have had to close it because of oversubscription. There just aren't that many good small cap companies to go around, and there can be lot of churn in portfolios as successful companies are bought up by larger companies, or by US companies. Some former CDN small cap companies have expanded their prospectuses in recent years to become North American small cap.
