CI First Asset Canadian Buyback Index ETF

Fund Overview

The Fund has been designed to replicate the performance of the CIBC Canadian Buyback Index, net of expenses. The Index is comprised of an equally weighted portfolio of equity securities of TSX-listed companies with active share buyback programs that have significantly and consistently reduced issued and outstanding share count. The Index was developed by CIBC World Markets based on empirical evidence that shows that highly profitable companies with excellent core business models often have cash flows that exceed the required re-investment needed to support intrinsic growth, which cash flows are frequently used to implement share buyback programs. The Index uses a proprietary rules-based methodology to select its constituent securities. To qualify for inclusion in the Index an equity security must, among other requirements: (i) trade on the TSX; (ii) meet a minimum market capitalization threshold; and (iii) meet a minimum average daily traded dollar value volume threshold. The Index is reconstituted monthly and rebalanced quarterly to equal weight

Investor suitability
For those who:

  • want Canadian equity exposure
  • want to focus on companies consistently engaged in share buyback programs
  • want to receive regular quarterly cash flows (if any)
  • can tolerate low to medium risk.

Performance

 1m3m6mYTD1y2y3ySI
FBE 3.98%8.50%-6.81%-14.78%-10.12%-5.36%1.56%3.26%
Benchmark2.35%9.57%3.35%-1.05%3.80%4.07%6.04%6.47%
As at: 31 Aug 2020 - Benchmark: S&P/TSX Composite Index (Total Return)

 

Historical NAVs

Sector Breakdown

As at August 31, 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.


The S&P/TSX Composite Index is a capitalization-weighted index designed to measure market activity of stocks listed on the Toronto Stock Exchange. This index is used as a benchmark to help you understand the Fund`s performance relative to the general performance of broader Canadian equity market.

Key Facts

Index Characteristics

Number of Securities40
Price/Earnings Ratio17.01
Price/Book Ratio1.39
As at 31 Aug, 2020

Index Risk Return Measures

Time period: 06/22/2000 to 08/31/2020 Index Benchmark
Return (% annualized)9.095.17
Std Dev13.1413.90
Beta0.841.00
Sharpe0.580.29
Sortino Ratio0.820.38
Up Capture100.19100.00
Down Capture76.44100.00
As at 31 Aug, 2020
Index: CIBC Canadian Buyback IndexTM
Benchmark: S&P/TSX Composite TR Index

Number of securities: 40

Asset Allocation

Security Type%
Common Stock99.95%
Currency Security0.05%

Holdings

NameSecurity TypeISINTicker %
TECK RESOURCES LTD Common StockCA8787422044 TECK/B CN 3.40
FIRST QUANTUM MINERALS LTD Common StockCA3359341052 FM CN 3.23
NUTRIEN LTD Common StockCA67077M1086 NTR CN 2.90
CANADIAN PACIFIC RAILWAY LTD Common StockCA13645T1003 CP CN 2.73
CANADIAN NATIONAL RAILWAY CO Common StockCA1363751027 CNR CN 2.73
GILDAN ACTIVEWEAR INC Common StockCA3759161035 GIL CN 2.69
NATIONAL BANK OF CANADA Common StockCA6330671034 NA CN 2.66
CANADIAN IMPERIAL BK OF COMM Common StockCA1360691010 CM CN 2.63
SUN LIFE FINANCIAL INC Common StockCA8667961053 SLF CN 2.62
BANK OF MONTREAL Common StockCA0636711016 BMO CN 2.62
THOMSON REUTERS CORP Common StockCA8849037095 TRI CN 2.62
EMPIRE CO LTD Common StockCA2918434077 EMP/A CN 2.60
GREAT WEST LIFECO INC Common StockCA39138C1068 GWO CN 2.59
INTACT FINANCIAL CORP Common StockCA45823T1066 IFC CN 2.56
CANADIAN TIRE CORP LTD Common StockCA1366812024 CTC/A CN 2.56
DOLLARAMA INC Common StockCA25675T1075 DOL CN 2.55
METRO INC Common StockCA59162N1096 MRU CN 2.54
WEST FRASER TIMBER CO LTD Common StockCA9528451052 WFT CN 2.52
WASTE CONNECTIONS INC Common StockCA94106B1013 WCN CN 2.50
MANULIFE FINANCIAL CORP Common StockCA56501R1064 MFC CN 2.46
AIR CANADA Common StockCA0089118776 AC CN 2.46
CGI INC Common StockCA12532H1047 GIB/A CN 2.44
ROYAL BANK OF CANADA Common StockCA7800871021 RY CN 2.44
TELUS CORP Common StockCA87971M1032 T CN 2.43
IA FINANCIAL CORP INC Common StockCA45075E1043 IAG CN 2.41
ALIMENTATION COUCHE-TARD INC Common StockCA01626P4033 ATD/B CN 2.41
TORONTO DOMINION BANK Common StockCA8911605092 TD CN 2.40
LOBLAW COMPANIES LTD Common StockCA5394811015 L CN 2.39
MAGNA INTL INC Common StockCA5592224011 MG CN 2.38
BROOKFIELD ASSET MGMT INC Common StockCA1125851040 BAM/A CN 2.34
WESTON (GEORGE) LTD Common StockCA9611485090 WN CN 2.28
BANK OF NOVA SCOTIA Common StockCA0641491075 BNS CN 2.28
RIOCAN REIT Common StockCA7669101031 REI-U CN 2.26
CANADIAN NATURAL RESOURCES LTD Common StockCA1363851017 CNQ CN 2.26
CAE INC Common StockCA1247651088 CAE CN 2.23
CONSTELLATION SOFTWARE INC Common StockCA21037X1006 CSU CN 2.23
ROGERS COMMUNICATIONS INC Common StockCA7751092007 RCI/B CN 2.21
FAIRFAX FINANCIAL HOLDINGS LTD Common StockCA3039011026 FFH CN 2.13
IMPERIAL OIL LTD Common StockCA4530384086 IMO CN 2.02
SUNCOR ENERGY INC Common StockCA8672241079 SU CN 1.83
Currency Security 0.05

As at: 18 September 2020
Holdings are subject to change

99.59%

Distributions

Distribution details (.csv)

Twelve month trailing distribution yield : 2.74% (as at 18 Sep 2020)

FBETotalCashReinvestedEligible dividendsNon eligible dividendsOther incomeCapital GainsReturn of capitalForeign IncomeForeign tax paid
SI$2.31760$1.60560$0.71200$0.80180--$1.00210$0.15852--
2020 +$0.35520$0.35520--------
24-Sep$0.11990$0.11990--------
24-Jun$0.11990$0.11990--------
25-Mar$0.11540$0.11540--------
2019 +$0.44320$0.44320-$0.35874---$0.08446--
23-Dec$0.11540$0.11540-$0.09341---$0.02199--
24-Sep$0.11470$0.11470-$0.09284---$0.02186--
24-Jun$0.11210$0.11210-$0.09074---$0.02136--
25-Mar$0.10100$0.10100-$0.08175---$0.01925--
2018 +$0.99800$0.37600$0.62200$0.25967--$0.73794$0.00041--
28-Dec$0.62200-$0.62200$0.16184--$0.45991$0.00025--
21-Dec$0.09660$0.09660-$0.02513--$0.07143$0.00004--
24-Sep$0.09480$0.09480-$0.02467--$0.07010$0.00004--
25-Jun$0.09260$0.09260-$0.02409--$0.06847$0.00004--
23-Mar$0.09200$0.09200-$0.02394--$0.06803$0.00004--
2017 +$0.43970$0.34970$0.09000$0.17120--$0.26416$0.00434--
28-Dec$0.09000-$0.09000$0.03504--$0.05407$0.00089--
28-Dec$0.08850$0.08850-$0.03446--$0.05317$0.00087--
28-Sep$0.08850$0.08850-$0.03446--$0.05317$0.00087--
29-Jun$0.08790$0.08790-$0.03422--$0.05281$0.00087--
30-Mar$0.08480$0.08480-$0.03302--$0.05094$0.00084--
2016 +$0.08150$0.08150-$0.01219---$0.06931--
29-Dec$0.08150$0.08150-$0.01219---$0.06931--

(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

18 Dec 2018 Stock buybacks hit a record $1.1 trillion, and the year's not over CNBC | Trader Talk with Bob Pisani
12 Feb 2018 Share buybacks could add fuel to Wall Street rebound Reuters.com | Noel Randewich
3 Jan 2018 How Much Can Buybacks Rise on Tax Cuts? This Estimate Says 70% Bloomberg News | Elena Popina
29 Aug 2017 These ETFs Might Be The Greatest Beneficiary Of Tax Reform fa-mag.com | David Sterman

Documents

22 Apr, 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 Canadian Buyback Index ETF please click here