Corporate Class CI First Asset CanBanc Income Class ETF

Fund Overview

The Fund's investment objectives are to provide Shareholders with (i) quarterly distributions; (ii) the opportunity for capital appreciation; and (iii) lower overall volatility of portfolio returns than would be experienced by owning a portfolio of common shares of the following banks directly: Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, The Bank of Nova Scotia and The Toronto-Dominion Bank.

As part of its investment strategy, each month, the Fund sells call options on approximately, and not more than, 25% of the common shares of each bank held in the portfolio.

Investor suitability
For those who:

  • want equity exposure to Canada's 6 largest banks
  • want the potential for high income generation
  • want to receive regular quarterly cash flows (if any)
  • can tolerate medium risk.

Performance

 1m3m6mYTD1y2y3y4y5y10ySI
CIC -3.70%6.00%12.58%-11.51%-11.07%-5.66%-0.98%3.35%5.61%6.48%6.99%
Benchmark-4.25%4.87%9.81%-13.58%-13.00%-5.87%-0.29%4.70%7.13%8.33%8.93%
As at: 30 Sep 2020 - Benchmark: S&P/TSX Equal Weight Diversified Banks Index

 

Historical NAVs

Sector Breakdown

As at September 30, 2020

The indicated rates of return are the historical annual compounded total returns, including changes in unit value and do not take into account sales, redemption or optional charges or income taxes payable by a security holder that would have reduced returns. CI First Asset CanBanc Income Class ETF (CIC) was originally launched as a TSX-listed closed-end fund on August 18, 2010, and converted into an exchange traded fund on September 24, 2015. Performance shown is since inception of the closed-end fund. In connection with the conversion, and pursuant to unitholder approval, the annual management fee payable by the Fund to CI Investments Inc., as manager, was reduced to 0.65% (from 1.05%) of the NAV per unit. Had these changes been in effect prior to this date the performance of the Fund could have been different.


S&P/TSX Equal Weight Diversified Banks Index is an equal-weighted index of commercial banks whose businesses primarily include commercial lending operations, retail banking, as well as small and medium enterprise corporate lending. This Index is used as a benchmark to help you understand the Fund`s performance relative to the general performance of the Canadian financial sector.

Key Facts

Fund Characteristics

Gross Option Premium*5.50%
Current Dividend Yield15.32%
Price/Earnings Ratio11.21
Price/Book Ratio1.27
As at 30 Sep, 2020
* Gross Option Premiums represent those received on 18 Sep, 2020
1 The Current Dividend Yield represents the gross yield on the ETF`s underlying portfolio of securities. It is not the yield or the distribution investors will receive by virtue of an investment in the ETF.

Fund Statistics

P/S Ratio (TTM) (Long)2.43
ROA % (TTM) (Long)0.61
ROE % (TTM) (Long)12.09
As at 30 Sep, 2020

Number of securities: 12

Asset Allocation

Security Type%
Common Stock100.00%

Holdings

NameSecurity TypeISINTicker %
BANK OF MONTREAL Common StockCA0636711016 BMO CN 17.27
BANK OF NOVA SCOTIA Common StockCA0641491075 BNS CN 17.17
CANADIAN IMPERIAL BK OF COMM Common StockCA1360691010 CM CN 16.53
ROYAL BANK OF CANADA Common StockCA7800871021 RY CN 16.35
TORONTO DOMINION BANK Common StockCA8911605092 TD CN 15.93
NATIONAL BANK OF CANADA Common StockCA6330671034 NA CN 15.60
CM CN CALL 105 11/20/20 CANADIAN IMPERIAL BK OF CO (21/11/2020) Option 0.00
RY CN CALL 98 11/20/20 ROYAL BANK OF CANADA (21/11/2020) Option 0.00
BNS CN CALL 58 11/20/20 BANK OF NOVA SCOTIA (21/11/2020) Option 0.00
TD CN CALL 62 11/20/20 TORONTO DOMINION BANK COM (21/11/2020) Option 0.00
NA CN CALL 68 11/20/20 NATIONAL BANK OF CANADA (21/11/2020) Option 0.00
BMO CN CALL 82 11/20/20 BANK OF MONTREAL (21/11/2020) Option 0.00

As at: 27 October 2020
Holdings are subject to change

98.85%

Distributions

Distribution details (.csv)

Twelve month trailing distribution yield : 9.97% (as at 27 Oct 2020)

CICTotalCashReinvestedEligible dividendsNon eligible dividendsOther incomeCapital GainsReturn of capitalForeign IncomeForeign tax paid
SI$7.43702$7.43702-$3.79625---$2.88997--
2020 +$0.75080$0.75080--------
24-Sep$0.24350$0.24350--------
24-Jun$0.33230$0.33230--------
25-Mar$0.17500$0.17500--------
2019 +$0.70000$0.70000-$0.54508---$0.15492--
23-Dec$0.17500$0.17500-$0.13627---$0.03873--
24-Sep$0.17500$0.17500-$0.13627---$0.03873--
24-Jun$0.17500$0.17500-$0.13627---$0.03873--
25-Mar$0.17500$0.17500-$0.13627---$0.03873--
2018 +$0.70000$0.70000-$0.46764---$0.23236--
21-Dec$0.17500$0.17500-$0.11691---$0.05809--
24-Sep$0.17500$0.17500-$0.11691---$0.05809--
25-Jun$0.17500$0.17500-$0.11691---$0.05809--
23-Mar$0.17500$0.17500-$0.11691---$0.05809--
2017 +$0.70000$0.70000-$0.45108---$0.24892--
28-Dec$0.17500$0.17500-$0.11691---$0.05809--
28-Sep$0.17500$0.17500-$0.11139---$0.06361--
29-Jun$0.17500$0.17500-$0.11139---$0.06361--
30-Mar$0.17500$0.17500-$0.11139---$0.06361--
2016 +$0.78360$0.78360-$0.47145---$0.31215--
29-Dec$0.17640$0.17640-$0.11228---$0.06412--
29-Sep$0.17500$0.17500-$0.12554---$0.04946--
29-Jun$0.17860$0.17860-$0.12812---$0.05048--
30-Mar$0.25360$0.25360-$0.10551---$0.14809--
2015 +$0.72930$0.72930-$0.41623---$0.31307--
30-Dec$0.20430$0.20430-$0.08500---$0.11930--
30-Sep$0.17500$0.17500-$0.11041---$0.06459--
30-Jun$0.17500$0.17500-$0.11041---$0.06459--
31-Mar$0.17500$0.17500-$0.11041---$0.06459--
2014 +$0.70000$0.70000-$0.43231---$0.26769--
31-Dec$0.17500$0.17500-$0.11041---$0.06459--
30-Sep$0.17500$0.17500-$0.10730---$0.06770--
30-Jun$0.17500$0.17500-$0.10730---$0.06770--
31-Mar$0.17500$0.17500-$0.10730---$0.06770--
2013 +$0.70000$0.70000-$0.10730---$0.59270--
31-Dec$0.17500$0.17500-$0.10730---$0.06770--
30-Sep$0.17500$0.17500-----$0.17500--
28-Jun$0.17500$0.17500-----$0.17500--
28-Mar$0.17500$0.17500-----$0.17500--
2012 +$0.71250$0.71250-$0.30850---$0.40400--
31-Dec$0.17500$0.17500-----$0.17500--
28-Sep$0.17500$0.17500-$0.10044---$0.07456--
29-Jun$0.18750$0.18750-$0.10762---$0.07988--
30-Mar$0.17500$0.17500-$0.10044---$0.07456--
2011 +$0.70000$0.70000-$0.49797---$0.20203--
30-Dec$0.17500$0.17500-$0.10044---$0.07456--
30-Sep$0.17500$0.17500-$0.13251---$0.04249--
30-Jun$0.17500$0.17500-$0.13251---$0.04249--
31-Mar$0.17500$0.17500-$0.13251---$0.04249--
2010 +$0.26082$0.26082-$0.09869---$0.16213--
31-Dec$0.26082$0.26082-$0.09869---$0.16213--

(1) Future distribution dates may be amended at any time. (2) Reinvested distributions are not paid in cash but instead remain invested in the Fund. To recognize that these distributions have been allocated to investors for tax purposes the amounts of these distributions should be added to the adjusted cost base of the units held. (3) The characterization of distributions for tax purposes (such as dividends/other income/capital gains etc.) will not be known for certain until after the Fund's tax year end. Therefore investors will be informed of the characterization of the amounts distributed for tax purposes only for the entire year and not with each distribution. For tax purposes these amounts will be reported by brokers on official tax statements.

News

23 Oct 2015 CI Financial scoops up ETF provider First Asset Capital The Globe and Mail | Clare O'Hara
19 Sep 2012 First Asset Distribution Press Release Marketwired
20 Jun 2012 First Asset Distribution Press Release Marketwired
21 Mar 2012 First Asset Distribution Press Release Marketwired
21 Sep 2011 First Asset: Distribution Press Release Marketwired
21 Jun 2011 First Asset: Distribution Press Release Marketwired
31 May 2011 XTF Capital Corp. Launches ETFs Marketwired

Documents

5 Oct, 2020 - ETF Facts

National Instrument 81-106 Investment Fund Continuous Disclosure requires disclosure of the proxy voting record on an annual basis for the period ending on June 30 of each year. The proxy voting record must be posted on the website no later than August 31 of each year.

Canadian securities law provides that the manager of an investment funds (in this case, CI Investments Inc. ("CI")), acting on behalf of the investment fund, has the right and obligation to vote proxies relating to the investment fund's portfolio securities. As a practical matter, CI delegates this function to the applicable portfolio manager or sub-adviser, as part of the portfolio manager's or sub-adviser's general management of the investment fund assets, subject to oversight by CI. CI generally requires that applicable portfolio managers or sub-advisers vote all proxies in the best interest of CI's funds and their securityholders, as determined solely by the portfolio manager or sub-adviser, and subject to CI's proxy voting policy, the guidelines applicable to the individual portfolio manager or sub-adviser, and applicable legislation. Portfolio managers and sub-advisers are generally expected to vote on any matter for which the investment fund receives proxy materials for a meeting of securityholders of an issuer.

Proxy voting record for the most recent year:

30 Jun, 2020 - Proxy Voting Record

Warning: Documents posted on this website (including, without limitation, prospectuses) are current only as of the date on them

To access the SEDAR filings of CI First Asset CanBanc Income Class ETF please click here