A good buy-and-forget strategy to consider today is to add a solid exchange-traded fund (ETF) to your portfolio that gives you a good position in the overall market and simply leave it there. For Canadian investors, the iShares S&P/TSX 60 Index ETF (TSX:XIU) can be just what you’re looking for.

The fund tracks the S&P/TSX 60 index, which gives you exposure to the largest and most established companies in the entire country. Its management expense ratio of 0.18% isn’t high, and in exchange for that, you can have a solid long-term investment that you won’t have to worry about.

With this fund, you’ll have a strong position in financials, energy, materials, tech, and industrials – each one of those areas account for at least 10% of the ETF’s holdings. You’ll find big names such as Toronto-Dominion Bank (TSX:TD)(NYSE:TD), Shopify (TSX:SHOP)(NASDAQ:SHOP), and Enbridge (TSX:ENB)(NYSE:ENB) in its portfolio. There’s no need to have to invest individually into these top Canadian stocks, as the fund will allow you to benefit from their growth.

The ETF also yields 2.8%, making it a great option if you want to generate some recurring dividend income. This year, the fund has risen by 11% in value and in five years it’s up by 70%.

For long-term safety and stability, this is an ETF that you can simply buy and hold and not worry about. It can also be an excellent investment to put into a tax-free savings account, which can protect your gains and dividend income from the taxman.

COMTEX_467626754/2559/2025-07-28T11:28:12