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:
1m | 3m | 6m | YTD | 1y | 2y | 3y | 4y | 5y | 10y | SI | |
---|---|---|---|---|---|---|---|---|---|---|---|
CIC | 5.14% | 13.03% | 29.84% | 13.03% | 46.17% | 10.84% | 7.10% | 6.60% | 10.22% | 8.02% | 9.30% |
Benchmark | 7.93% | 17.59% | 37.73% | 17.59% | 51.24% | 13.44% | 9.37% | 8.85% | 12.77% | 10.31% | |
As at: 31 Mar 2021 - Benchmark: S&P/TSX Equal Weight Diversified Banks Index |
As at February 28, 2021
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.
Fund Characteristics | |
Gross Option Premium* | 3.11% |
---|---|
Current Dividend Yield1 | 4.25% |
Price/Earnings Ratio | 13.12 |
Price/Book Ratio | 1.56 |
As at 28 Feb, 2021 * Gross Option Premiums represent those received on 19 Feb, 2021 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) | 3.03 |
---|---|
ROA % (TTM) (Long) | 0.63 |
ROE % (TTM) (Long) | 12.51 |
As at 28 Feb, 2021 |
Number of securities: 12
Security Type | % |
---|---|
Common Stock | 100.00% |
Name | Security Type | ISIN | Ticker | % |
---|---|---|---|---|
BANK OF MONTREAL | Common Stock | CA0636711016 | BMO CN | 17.06 |
ROYAL BANK OF CANADA | Common Stock | CA7800871021 | RY CN | 16.65 |
TORONTO DOMINION BANK | Common Stock | CA8911605092 | TD CN | 16.62 |
BANK OF NOVA SCOTIA | Common Stock | CA0641491075 | BNS CN | 16.51 |
CANADIAN IMPERIAL BK OF COMM | Common Stock | CA1360691010 | CM CN | 16.32 |
NATIONAL BANK OF CANADA | Common Stock | CA6330671034 | NA CN | 16.20 |
CM CN CALL 130 04/16/21 CANADIAN IMPERIAL BK OF CO (17/04/2021) | Option | 0.00 | ||
NA CN CALL 89 04/16/21 NATIONAL BANK OF CANADA (17/04/2021) | Option | 0.00 | ||
RY CN CALL 120 04/16/21 ROYAL BANK OF CANADA (17/04/2021) | Option | 0.00 | ||
BNS CN CALL 80 04/16/21 BANK OF NOVA SCOTIA (17/04/2021) | Option | 0.00 | ||
TD CN CALL 84 04/16/21 TORONTO DOMINION BANK COM (17/04/2021) | Option | 0.00 | ||
BMO CN CALL 112 04/16/21 BANK OF MONTREAL (17/04/2021) | Option | 0.00 | ||
As at: 8 April 2021 | 99.36% |
Twelve month trailing distribution yield : 8.55% (as at 8 Apr 2021)
CIC | Total | Cash | Reinvested | Eligible dividends | Non eligible dividends | Other income | Capital Gains | Return of capital | Foreign Income | Foreign tax paid |
---|---|---|---|---|---|---|---|---|---|---|
SI | $7.85982 | $7.85982 | - | $4.35905 | - | - | - | $3.31967 | - | - |
2021 + | $0.18110 | $0.18110 | - | - | - | - | - | - | - | - |
25-Mar | $0.18110 | $0.18110 | - | - | - | - | - | - | - | - |
2020 + | $0.99250 | $0.99250 | - | $0.56280 | - | - | - | $0.42970 | - | - |
23-Dec | $0.24170 | $0.24170 | - | $0.13706 | - | - | - | $0.10464 | - | - |
24-Sep | $0.24350 | $0.24350 | - | $0.13808 | - | - | - | $0.10542 | - | - |
24-Jun | $0.33230 | $0.33230 | - | $0.18843 | - | - | - | $0.14387 | - | - |
25-Mar | $0.17500 | $0.17500 | - | $0.09923 | - | - | - | $0.07577 | - | - |
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.
11 Dec, 2020 - Securityholders approve fixed administration fees for 19 CI Global Asset Management ETFs
11 Dec, 2020 - Report on the voting results at the adjourned Special Meetings
4 Dec, 2020 - CI Global Asset Management provides update on proposed fixed administration fees
23 Oct, 2020 - Form of Proxy
23 Oct, 2020 - Notice of meeting
23 Oct, 2020 - Management Information Circular
31 Dec, 2020 - Annual Financial Statements
30 Jun, 2020 - Semi-Annual Financial Statements
31 Dec, 2019 - Annual Financial Statements
31 Dec, 2020 - Management Report of Fund Performance
30 Jun, 2020 - Management Report of Fund Performance
31 Dec, 2019 - Annual Management Report of Fund Performance
30 Sep, 2020 - Summary of Investment Portfolio
31 Mar, 2020 - Summary of Investment Portfolio
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 hereCI Covered Call ETFs - Strategy Overview | Nov 6, 2020 | Positioning Piece | ![]() |