CI First Asset Energy Giants Covered Call ETF (Unhedged)

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. The foreign currency exposure attributable to the Units will not 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 currency unhedged basis
  • want the potential for high income generation
  • want to receive regular quarterly cash flows (if any)
  • can tolerate medium risk.

Performance

 1m3m6mYTD1y2y3y4y5ySI
NXF.B -11.28%-16.59%-4.74%-43.71%-41.50%-30.33%-14.36%-11.77%-6.66%-8.57%
Benchmark-11.73%-17.58%-8.08%-44.29%-42.72%-30.14%-16.71%-12.69%-7.79%-9.83%
As at: 30 Sep 2020 - Benchmark: MSCI World/Energy NR 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.


The MSCI World Energy Index is designed to capture the large and mid cap segments across 23 Developed Markets countries. All securities in the index are classified in the Energy sector as per the Global Industry Classification Standard (GICS®). This Index is used as a benchmark to help you understand the Fund`s performance relative to the general performance of the Developed Markets Energy sector.

Key Facts

Fund Characteristics

Gross Option Premium*7.25%
Current Dividend Yield16.57%
Price/Book Ratio0.76
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)0.45
P/C Ratio (TTM) (Long)3.00
ROA % (TTM) (Long)-0.33
ROE % (TTM) (Long)-1.80
As at 30 Sep, 2020

Number of securities: 30

Asset Allocation

Security Type%
Foreign Stock99.99%
Currency Security0.01%

Holdings

NameSecurity TypeISINTicker %
ROYAL DUTCH SHELL PLC Foreign StockUS7802592060 RDS/A US 6.92
CONOCOPHILLIPS Foreign StockUS20825C1045 COP US 6.82
CHEVRON CORP Foreign StockUS1667641005 CVX US 6.79
PIONEER NATURAL RESOURCES CO Foreign StockUS7237871071 PXD US 6.76
EXXON MOBIL CORP Foreign StockUS30231G1022 XOM US 6.74
CHINA PETROLEUM & CHEMICAL COR Foreign StockUS16941R1086 SNP US 6.72
EQUINOR ASA Foreign StockUS29446M1027 EQNR US 6.71
TOTAL SE Foreign StockUS89151E1091 TOT US 6.64
EOG RESOURCES INC Foreign StockUS26875P1012 EOG US 6.64
CNOOC LTD Foreign StockUS1261321095 CEO US 6.59
PETROCHINA CO LTD Foreign StockUS71646E1001 PTR US 6.54
ECOPETROL SA Foreign StockUS2791581091 EC US 6.53
ENI SPA Foreign StockUS26874R1086 E US 6.49
BP PLC Foreign StockUS0556221044 BP US 6.29
PETROLEO BRASILEIRO SA Foreign StockUS71654V4086 PBR US 6.28
E US CALL 17.5 11/20/20 ENI SPA (21/11/2020) Option 0.00
TOT US CALL 35 11/20/20 TOTAL SA ADR (21/11/2020) Option 0.00
RDSA US CALL 27.5 11/20/20 ROYAL DUTCH SHELL PLC (21/11/2020) Option 0.00
PTR US CALL 30 11/20/20 PETROCHINA CO LTD (21/11/2020) Option 0.00
EQNR US CALL 15 11/20/20 EQUINOR ASA (21/11/2020) Option 0.00
BP US CALL 17 11/20/20 BP PLC (21/11/2020) Option 0.00
SNP US CALL 40 11/20/20 CHINA PETE & CHEM CORP (21/11/2020) Option 0.00
CVX US CALL 75 11/20/20 CHEVRON CORP (21/11/2020) Option 0.00
XOM US CALL 35 11/20/20 EXXON MOBIL (21/11/2020) Option 0.00
CEO US CALL 95 11/20/20 CNOOC LTD (21/11/2020) Option 0.00
COP US CALL 35 11/20/20 CONOCOPHILLIPS (21/11/2020) Option 0.00
PXD US CALL 95 11/20/20 PIONEER NAT RES CO (21/11/2020) Option 0.00
EC US CALL 10 11/20/20 ECOPETROL S A (21/11/2020) Option 0.00
EOG US CALL 37.5 11/20/20 EOG RESOURCES INC (21/11/2020) Option 0.00
PBR US CALL 7 11/20/20 PETROLEO BRASILEIRO SA (21/11/2020) Option 0.00
Currency Security 0.01

As at: 19 October 2020
Holdings are subject to change

99.47%

Distributions

Distribution details (.csv)

Twelve month trailing distribution yield : 13.44% (as at 19 Oct 2020)

NXF.BTotalCashReinvestedEligible dividendsNon eligible dividendsOther incomeCapital GainsReturn of capitalForeign IncomeForeign tax paid
SI$3.40500$3.40500----$0.67638$1.44866$1.02567$0.13198
2020 +$0.38630$0.38630--------
24-Sep$0.11880$0.11880--------
24-Jun$0.16240$0.16240--------
25-Mar$0.10510$0.10510--------
2019 +$0.53810$0.53810----$0.21542$0.11418$0.24532$0.03680
23-Dec$0.11890$0.11890----$0.04760$0.02523$0.05421$0.00813
24-Sep$0.11110$0.11110----$0.04448$0.02357$0.05065$0.00760
24-Jun$0.15240$0.15240----$0.06101$0.03234$0.06948$0.01042
25-Mar$0.15570$0.15570----$0.06233$0.03304$0.07098$0.01065
2018 +$0.64470$0.64470----$0.11459$0.34503$0.21775$0.03266
21-Dec$0.19630$0.19630----$0.03489$0.10506$0.06630$0.00995
24-Sep$0.16680$0.16680----$0.02965$0.08927$0.05634$0.00845
25-Jun$0.15700$0.15700----$0.02790$0.08402$0.05303$0.00795
23-Mar$0.12460$0.12460----$0.02215$0.06668$0.04208$0.00631
2017 +$0.53060$0.53060----$0.20972$0.15510$0.18806$0.02228
28-Dec$0.11000$0.11000----$0.04348$0.03215$0.03899$0.00462
28-Sep$0.13000$0.13000----$0.05138$0.03801$0.04607$0.00546
29-Jun$0.14530$0.14530----$0.05743$0.04247$0.05150$0.00610
30-Mar$0.14530$0.14530----$0.05743$0.04247$0.05150$0.00610
2016 +$0.70130$0.70130----$0.05927$0.47917$0.18303$0.02017
29-Dec$0.16310$0.16310----$0.01378$0.11144$0.04257$0.00469
29-Sep$0.15170$0.15170----$0.01282$0.10365$0.03959$0.00436
29-Jun$0.19000$0.19000----$0.01606$0.12982$0.04959$0.00547
30-Mar$0.19650$0.19650----$0.01661$0.13426$0.05128$0.00565
2015 +$0.60400$0.60400----$0.07738$0.35518$0.19151$0.02007
30-Dec$0.19900$0.19900----$0.02549$0.11702$0.06310$0.00661
29-Sep$0.18530$0.18530----$0.02374$0.10897$0.05875$0.00616
29-Jun$0.16640$0.16640----$0.02132$0.09785$0.05276$0.00553
30-Mar$0.05330$0.05330----$0.00683$0.03134$0.01690$0.00177

(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

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 (Unhedged) please click here