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:
| 1m | 3m | 6m | YTD | 1y | 2y | 3y | SI | |
|---|---|---|---|---|---|---|---|---|
| FBE | 3.98% | 8.50% | -6.81% | -14.78% | -10.12% | -5.36% | 1.56% | 3.26% |
| Benchmark | 2.35% | 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) | ||||||||
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.
Index Characteristics | |
| Number of Securities | 40 |
|---|---|
| Price/Earnings Ratio | 17.01 |
| Price/Book Ratio | 1.39 |
| As at 31 Aug, 2020 | |
Index Risk Return Measures | ||
| Time period: 06/22/2000 to 08/31/2020 | Index | Benchmark |
|---|---|---|
| Return (% annualized) | 9.09 | 5.17 |
| Std Dev | 13.14 | 13.90 |
| Beta | 0.84 | 1.00 |
| Sharpe | 0.58 | 0.29 |
| Sortino Ratio | 0.82 | 0.38 |
| Up Capture | 100.19 | 100.00 |
| Down Capture | 76.44 | 100.00 |
| As at 31 Aug, 2020 Index: CIBC Canadian Buyback IndexTM Benchmark: S&P/TSX Composite TR Index | ||
Number of securities: 40
| Security Type | % |
|---|---|
| Common Stock | 99.95% |
| Currency Security | 0.05% |
| Name | Security Type | ISIN | Ticker | % |
|---|---|---|---|---|
| TECK RESOURCES LTD | Common Stock | CA8787422044 | TECK/B CN | 3.40 |
| FIRST QUANTUM MINERALS LTD | Common Stock | CA3359341052 | FM CN | 3.23 |
| NUTRIEN LTD | Common Stock | CA67077M1086 | NTR CN | 2.90 |
| CANADIAN PACIFIC RAILWAY LTD | Common Stock | CA13645T1003 | CP CN | 2.73 |
| CANADIAN NATIONAL RAILWAY CO | Common Stock | CA1363751027 | CNR CN | 2.73 |
| GILDAN ACTIVEWEAR INC | Common Stock | CA3759161035 | GIL CN | 2.69 |
| NATIONAL BANK OF CANADA | Common Stock | CA6330671034 | NA CN | 2.66 |
| CANADIAN IMPERIAL BK OF COMM | Common Stock | CA1360691010 | CM CN | 2.63 |
| SUN LIFE FINANCIAL INC | Common Stock | CA8667961053 | SLF CN | 2.62 |
| BANK OF MONTREAL | Common Stock | CA0636711016 | BMO CN | 2.62 |
| THOMSON REUTERS CORP | Common Stock | CA8849037095 | TRI CN | 2.62 |
| EMPIRE CO LTD | Common Stock | CA2918434077 | EMP/A CN | 2.60 |
| GREAT WEST LIFECO INC | Common Stock | CA39138C1068 | GWO CN | 2.59 |
| INTACT FINANCIAL CORP | Common Stock | CA45823T1066 | IFC CN | 2.56 |
| CANADIAN TIRE CORP LTD | Common Stock | CA1366812024 | CTC/A CN | 2.56 |
| DOLLARAMA INC | Common Stock | CA25675T1075 | DOL CN | 2.55 |
| METRO INC | Common Stock | CA59162N1096 | MRU CN | 2.54 |
| WEST FRASER TIMBER CO LTD | Common Stock | CA9528451052 | WFT CN | 2.52 |
| WASTE CONNECTIONS INC | Common Stock | CA94106B1013 | WCN CN | 2.50 |
| MANULIFE FINANCIAL CORP | Common Stock | CA56501R1064 | MFC CN | 2.46 |
| AIR CANADA | Common Stock | CA0089118776 | AC CN | 2.46 |
| CGI INC | Common Stock | CA12532H1047 | GIB/A CN | 2.44 |
| ROYAL BANK OF CANADA | Common Stock | CA7800871021 | RY CN | 2.44 |
| TELUS CORP | Common Stock | CA87971M1032 | T CN | 2.43 |
| IA FINANCIAL CORP INC | Common Stock | CA45075E1043 | IAG CN | 2.41 |
| ALIMENTATION COUCHE-TARD INC | Common Stock | CA01626P4033 | ATD/B CN | 2.41 |
| TORONTO DOMINION BANK | Common Stock | CA8911605092 | TD CN | 2.40 |
| LOBLAW COMPANIES LTD | Common Stock | CA5394811015 | L CN | 2.39 |
| MAGNA INTL INC | Common Stock | CA5592224011 | MG CN | 2.38 |
| BROOKFIELD ASSET MGMT INC | Common Stock | CA1125851040 | BAM/A CN | 2.34 |
| WESTON (GEORGE) LTD | Common Stock | CA9611485090 | WN CN | 2.28 |
| BANK OF NOVA SCOTIA | Common Stock | CA0641491075 | BNS CN | 2.28 |
| RIOCAN REIT | Common Stock | CA7669101031 | REI-U CN | 2.26 |
| CANADIAN NATURAL RESOURCES LTD | Common Stock | CA1363851017 | CNQ CN | 2.26 |
| CAE INC | Common Stock | CA1247651088 | CAE CN | 2.23 |
| CONSTELLATION SOFTWARE INC | Common Stock | CA21037X1006 | CSU CN | 2.23 |
| ROGERS COMMUNICATIONS INC | Common Stock | CA7751092007 | RCI/B CN | 2.21 |
| FAIRFAX FINANCIAL HOLDINGS LTD | Common Stock | CA3039011026 | FFH CN | 2.13 |
| IMPERIAL OIL LTD | Common Stock | CA4530384086 | IMO CN | 2.02 |
| SUNCOR ENERGY INC | Common Stock | CA8672241079 | SU CN | 1.83 |
| Currency Security | 0.05 | |||
As at: 18 September 2020 | 99.59% | |||
Twelve month trailing distribution yield : 2.74% (as at 18 Sep 2020)
| FBE | Total | Cash | Reinvested | Eligible dividends | Non eligible dividends | Other income | Capital Gains | Return of capital | Foreign Income | Foreign 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.
30 Jun, 2020 - Semi-Annual Financial Statements
31 Dec, 2019 - Annual Financial Statements
30 Jun, 2020 - Management Report of Fund Performance
31 Dec, 2019 - Annual Management Report of Fund Performance
31 Mar, 2020 - Summary of Investment Portfolio
30 Sep, 2019 - 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 Canadian Buyback Index ETF please click here