Bearish ETF Bets Soar as Canada Stocks Climb Back Toward Record

As Canadian stocks climb back toward an all-time high, concern that oil’s collapse will take a toll on the economy is sending investors in search of protection.

Bearish bets for the iShares Standard & Poor’s/TSX 60 Index exchange-traded fund, Canada’s largest ETF by assets, have surged this year to as much as nine times the number of calls. The ratio reached the highest level ever on March 20, according to data compiled by Bloomberg.