CI First Asset Energy Giants Covered Call ETF (CAD Hedged)

Fund Overview

The Fund's investment objective is to provide holders, through an actively managed portfolio, with (i) quarterly cash distributions, (ii) the opportunity for capital appreciation by investing on an equal weight basis in a portfolio of equity securities of the 15 largest non-Canadian issuers classified within either the "Integrated Oil & Gas" or "Oil & Gas Exploration & Production" Global Industry Classification Standard (GICS) sub-industry groups, or otherwise determined by the Manager to derive their revenue primarily from the exploration for and production of oil and natural gas measured by US$ market capitalization with common stock or ADRs listed on a Canadian or U.S. stock exchange, and (iii) lower overall volatility of returns on the portfolio than would be experienced by owning a portfolio of securities of such issuers directly. The portfolio is rebalanced quarterly in order to maintain an approximately equal weighting, and each month the Manager employs a covered call option writing program on approximately, and not more than, 25% of the securities of each portfolio issuer. Options may be written on each individual portfolio issuer, or on a basket basis, encompassing more than one portfolio security, in the discretion of the Manager in order to seek to earn attractive, tax effective income from dividends and call option premiums, lower the overall volatility of returns associated with owning a portfolio of these securities, and to generate capital appreciation. It is intended that at all times at least 90% of the value of the foreign currency exposure attributable to the Units will be hedged back to the Canadian dollar

Investor suitability
For those who:

  • want non-Canadian equity exposure to companies in the energy sector on a CAD hedged basis
  • want the potential for high income generation
  • want to receive regular quarterly cash flows (if any)
  • can tolerate medium to high risk.

Performance

 1m3m6mYTD1y2y3y4y5ySI
NXF 0.46%-0.10%-22.92%-38.52%-32.44%-26.01%-11.50%-9.48%-6.87%-8.74%
As at: 31 Aug 2020

 

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.


Key Facts

Fund Characteristics

Gross Option Premium*5.35%
Current Dividend Yield16.09%
Price/Book Ratio0.86
As at 31 Aug, 2020
* Gross Option Premiums represent those received on 21 Aug, 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)0.48
P/C Ratio (TTM) (Long)3.32
ROA % (TTM) (Long)-1.34
ROE % (TTM) (Long)-5.50
As at 31 Aug, 2020

Number of securities: 26

Asset Allocation

Security Type%
Foreign Stock99.80%
Currency Security0.20%

Holdings

Reconstitution/Rebalancing

CI First Asset ETFs endeavours to disclose the portfolio holdings of its index-tracking ETFs (the "Index ETFs") on its website daily. In connection with the regular reconstitution/rebalancing of the indexes tracked by the Index ETFs, CI First Asset ETFs may be contractually precluded from disclosing portfolio changes arising in connection with the reconstitution/rebalancing.

In order to prevent the inadvertent breach by CI First Asset ETFs of its contractual obligations and also in order to ensure that the Index ETF’s interests are maximized, CI First Asset ETFs has implemented this best practice Disclosure Policy. This policy requires that, from the period commencing 3 trading days prior to the effective date of any index reconstitution/rebalancing in respect of an Index ETF (the “Rebalancing Effective Date”) and ending 10 trading days after the Rebalancing Effective Date (or such later date at which all related Rebalancing Trades have been completed) (the “Rebalancing Period”), CI First Asset ETFs will not update portfolio information on its website in respect of such Index ETF but will instead continue to display portfolio information in respect of such Index ETF as at the trading date immediately prior to the commencement of the Rebalancing Period. This policy will protect the Index ETF from potentially being exposed to external risk factors, such as front-running, during the Rebalancing Period, and will also ensure that CI First Asset ETFs does not inadvertently breach its contractual obligations.
NameSecurity TypeISINTicker %
EQUINOR ASA Foreign StockUS29446M1027 EQNR US 8.16
CHINA PETROLEUM & CHEMICAL COR Foreign StockUS16941R1086 SNP US 7.50
PETROLEO BRASILEIRO SA Foreign StockUS71654V4086 PBR US 7.50
TOTAL SE Foreign StockUS89151E1091 TOT US 7.33
ECOPETROL SA Foreign StockUS2791581091 EC US 7.24
PETROCHINA CO LTD Foreign StockUS71646E1001 PTR US 7.03
CNOOC LTD Foreign StockUS1261321095 CEO US 6.93
ENI SPA Foreign StockUS26874R1086 E US 6.82
CHEVRON CORP Foreign StockUS1667641005 CVX US 6.43
BP PLC Foreign StockUS0556221044 BP US 6.38
ROYAL DUTCH SHELL PLC Foreign StockUS7802592060 RDS/A US 6.21
EXXON MOBIL CORP Foreign StockUS30231G1022 XOM US 6.00
CONOCOPHILLIPS Foreign StockUS20825C1045 COP US 5.82
EOG RESOURCES INC Foreign StockUS26875P1012 EOG US 5.67
OCCIDENTAL PETROLEUM CORP Foreign StockUS6745991058 OXY US 4.05
XOM US CALL 42.5 09/18/20 EXXON MOBIL (19/09/2020) Option 0.00
COP US CALL 39 09/18/20 CONOCOPHILLIPS (19/09/2020) Option 0.00
EOG US CALL 45 09/18/20 EOG RESOURCES INC (19/09/2020) Option 0.00
CEO US CALL 115 09/18/20 CNOOC LTD (19/09/2020) Option 0.00
CVX US CALL 85 09/18/20 CHEVRON CORP (19/09/2020) Option 0.00
BP US CALL 22 09/18/20 BP PLC (19/09/2020) Option 0.00
OXY US CALL 14 09/18/20 OCCIDENTAL PETROLEUM (19/09/2020) Option 0.00
TOT US CALL 40 09/18/20 TOTAL SA ADR (19/09/2020) Option 0.00
RDSA US CALL 30 09/18/20 ROYAL DUTCH SHELL PLC (19/09/2020) Option 0.00
PBR US CALL 9 09/18/20 PETROLEO BRASILEIRO SA (19/09/2020) Option 0.00
SNP US CALL 45 09/18/20 CHINA PETE & CHEM CORP (19/09/2020) Option 0.00
Currency Security 0.20

As at: 14 September 2020
Holdings are subject to change

99.27%

Distributions

Distribution details (.csv)

Twelve month trailing distribution yield : 14.92% (as at 25 Sep 2020)

NXFTotalCashReinvestedEligible dividendsNon eligible dividendsOther incomeCapital GainsReturn of capitalForeign IncomeForeign tax paid
SI$3.32410$3.32410----$0.71491$1.40294$0.96093$0.12348
2020 +$0.36880$0.36880--------
24-Sep$0.11300$0.11300--------
24-Jun$0.15660$0.15660--------
25-Mar$0.09920$0.09920--------
2019 +$0.52020$0.52020----$0.16655$0.13652$0.25544$0.03832
23-Dec$0.11470$0.11470----$0.03672$0.03010$0.05632$0.00845
24-Sep$0.10690$0.10690----$0.03423$0.02806$0.05249$0.00787
24-Jun$0.14740$0.14740----$0.04719$0.03868$0.07238$0.01086
25-Mar$0.15120$0.15120----$0.04841$0.03968$0.07425$0.01114
2018 +$0.63120$0.63120----$0.12171$0.35036$0.18722$0.02808
21-Dec$0.19250$0.19250----$0.03712$0.10685$0.05710$0.00856
24-Sep$0.16290$0.16290----$0.03141$0.09042$0.04832$0.00725
25-Jun$0.15290$0.15290----$0.02948$0.08487$0.04535$0.00680
23-Mar$0.12290$0.12290----$0.02370$0.06822$0.03645$0.00547
2017 +$0.52220$0.52220----$0.31257$0.04249$0.18960$0.02246
28-Dec$0.11000$0.11000----$0.06584$0.00895$0.03994$0.00473
28-Sep$0.13000$0.13000----$0.07781$0.01058$0.04720$0.00559
29-Jun$0.14110$0.14110----$0.08446$0.01148$0.05123$0.00607
30-Mar$0.14110$0.14110----$0.08446$0.01148$0.05123$0.00607
2016 +$0.68780$0.68780----$0.11408$0.45117$0.13803$0.01548
29-Dec$0.16000$0.16000----$0.02654$0.10495$0.03211$0.00360
29-Sep$0.14850$0.14850----$0.02463$0.09741$0.02980$0.00334
29-Jun$0.18740$0.18740----$0.03108$0.12293$0.03761$0.00422
30-Mar$0.19190$0.19190----$0.03183$0.12588$0.03851$0.00432
2015 +$0.59390$0.59390-----$0.42240$0.19064$0.01914
30-Dec$0.19240$0.19240-----$0.13684$0.06176$0.00620
29-Sep$0.18130$0.18130-----$0.12895$0.05819$0.00584
29-Jun$0.16750$0.16750-----$0.11913$0.05377$0.00540
30-Mar$0.05270$0.05270-----$0.03748$0.01692$0.00170

(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
21 Jul 2015 Stripping away preconceived notions of fixed income Financial Post | John Pagliacci
10 Feb 2015 First Asset launches two ETFs Investment Executive | Tessie Sanci

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 Energy Giants Covered Call ETF (CAD Hedged) please click here