CI First Asset MSCI Europe Low Risk Weighted ETF (CAD Hedged)

Fund Overview

The Fund has been designed to replicate, to the extent possible, the performance of the MSCI Europe Risk Weighted Top 100 Index (CAD Hedged) (the "Index"), net of expenses. The Index is based on a traditional market capitalization weighted parent index, the MSCI Europe Index, which includes developed Europe large and midcapitalization stocks. Constructed using a simple, but effective and transparent process, each security of the parent index is reweighted so that stocks with lower risk are given higher index weights. The final constituents of the Index are determined by ranking these security level risk weights and taking the top 100 subset securities. The Index seeks to emphasize stocks with lower historical return variance and tends to have a bias towards lower size and lower risk stocks. Historically, the Index has exhibited lower realized volatility in comparison to its parent index, while maintaining reasonable liquidity and capacity. The Index is hedged to the Canadian dollar by notionally "selling" each foreign currency forward at the one-month forward exchange rate at the end of each month. The investment strategy of the Fund is to invest in and hold the constituent securities of the Index. It is intended that, except as described in the prospectus, at all times at least 90% of the foreign currency denominated assets held by the Fund attributable to the Units will be hedged back to the Canadian dollar.

Investor suitability
For those who:

  • want European equity exposure on a CAD hedged basis
  • are primarily focused on risk mitigation
  • want to receive regular quarterly cash flows (if any)
  • Can tolerate low to medium risk.

Performance

 1m3m6mYTD1y2y3y4y5ySI
RWE 0.68%4.77%-11.48%-10.98%-4.38%1.55%3.57%4.96%4.10%6.90%
Benchmark-1.45%5.70%-11.42%-12.84%-7.69%-3.15%0.14%3.96%1.84%4.46%
As at: 31 Jul 2020 - Benchmark: MSCI Europe NR Index

 

Historical NAVs

Sector Breakdown

As at July 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 MSCI Europe Index captures large and mid-cap equities across 15 Developed Markets countries in Europe, covering approximately 85% of the free float-adjusted market capitalization across that universe. This Index is used as a benchmark to help you understand the Fund`s performance relative to the general performance of the broader European equity markets.

Key Facts

Index Characteristics

Number of Securities99
Price/Earnings Ratio19.85
Price/Book Ratio2.39
As at 31 Jul, 2020

Index Risk Return Measures

Time period: 12/31/1998 to 07/31/2020IndexBenchmark
Return (% annualized)7.663.65
Std Dev10.6414.91
Beta0.611.00
Sharpe0.540.17
Sortino Ratio0.740.23
Up Capture74.37100.00
Down Capture49.61100.00
As at 31 Jul, 2020
Index: MSCI Europe Risk Weighted Top 100 Index (CAD Hedged)
Benchmark: MSCI Europe NR Index (CAD Hedged)
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Distributions

Distribution details (.csv)

Twelve month trailing distribution yield : 2.22% (as at 13 Aug 2020)

RWETotalCashReinvestedEligible dividendsNon eligible dividendsOther incomeCapital GainsReturn of capitalForeign IncomeForeign tax paid
SI$6.52030$3.50720$3.01310---$2.70309$0.02219$3.93405$0.45919
2020 +$0.32020$0.32020--------
24-Jun$0.17010$0.17010--------
25-Mar$0.15010$0.15010--------
2019 +$1.20860$0.57760$0.63100---$0.61214-$0.70172$0.10525
30-Dec$0.63100-$0.63100---$0.31960-$0.36636$0.05495
23-Dec$0.15010$0.15010----$0.07602-$0.08715$0.01307
24-Sep$0.14330$0.14330----$0.07258-$0.08320$0.01248
24-Jun$0.14330$0.14330----$0.07258-$0.08320$0.01248
25-Mar$0.14090$0.14090----$0.07136-$0.08181$0.01227
2018 +$0.95950$0.55850$0.40100---$0.31476-$0.75854$0.11377
28-Dec$0.40100-$0.40100---$0.13154-$0.31701$0.04755
21-Dec$0.14260$0.14260----$0.04678-$0.11273$0.01691
24-Sep$0.14110$0.14110----$0.04629-$0.11155$0.01673
25-Jun$0.14110$0.14110----$0.04629-$0.11155$0.01673
23-Mar$0.13370$0.13370----$0.04386-$0.10570$0.01585
2017 +$0.88990$0.49990$0.39000---$0.15887$0.00774$0.81100$0.08771
28-Dec$0.12630$0.12630----$0.02255$0.00110$0.11510$0.01245
28-Dec$0.39000-$0.39000---$0.06962$0.00339$0.35543$0.03844
28-Sep$0.12630$0.12630----$0.02255$0.00110$0.11510$0.01245
29-Jun$0.12440$0.12440----$0.02221$0.00108$0.11337$0.01226
30-Mar$0.12290$0.12290----$0.02194$0.00107$0.11200$0.01211
2016 +$1.59040$0.50260$1.08780---$0.75989-$0.92317$0.09266
29-Dec$0.12060$0.12060----$0.05762-$0.07000$0.00702
29-Dec$1.08780-$1.08780---$0.51975-$0.63143$0.06338
29-Sep$0.12300$0.12300----$0.05877-$0.07140$0.00717
29-Jun$0.12880$0.12880----$0.06154-$0.07476$0.00750
30-Mar$0.13020$0.13020----$0.06221-$0.07558$0.00759
2015 +$0.46940$0.46940-----$0.01318$0.49882$0.04260
30-Dec$0.12440$0.12440-----$0.00349$0.13220$0.01129
29-Sep$0.11810$0.11810-----$0.00332$0.12550$0.01072
29-Jun$0.11900$0.11900-----$0.00334$0.12646$0.01080
30-Mar$0.10790$0.10790-----$0.00303$0.11466$0.00979
2014 +$1.08230$0.57900$0.50330---$0.85743$0.00127$0.24080$0.01720
30-Dec$0.28500$0.28500----$0.22579$0.00033$0.06341$0.00453
30-Dec$0.50330-$0.50330---$0.39873$0.00059$0.11198$0.00800
29-Sep$0.11720$0.11720----$0.09284$0.00014$0.02608$0.00186
27-Jun$0.17680$0.17680----$0.14007$0.00021$0.03933$0.00281

(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
30 Sep 2014 A look inside Canada's hottest ETFs Special to the Globe and Mail | Andrew Hallam
18 Jun 2014 First Asset ETFs June Distributions Marketwired
11 Feb 2014 First Asset launches "risk-weighted" equity ETFs Morningstar | Rudy Luukko

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, 2019 - Proxy Voting Record

30 Jun, 2018 - 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 MSCI Europe Low Risk Weighted ETF (CAD Hedged) please click here