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 1.66%3.60%-2.44%-9.51%-4.05%2.24%4.05%5.22%5.68%7.07%
Benchmark2.73%4.51%-1.07%-10.47%-3.55%-0.66%1.01%4.36%3.94%4.83%
As at: 31 Aug 2020 - Benchmark: MSCI Europe NR Index

 

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 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 Ratio20.89
Price/Book Ratio2.42
As at 31 Aug, 2020

Index Risk Return Measures

Time period: 12/31/1998 to 08/31/2020 Index Benchmark
Return (% annualized)7.703.77
Std Dev10.6214.89
Beta0.611.00
Sharpe0.550.18
Sortino Ratio0.750.24
Up Capture74.27100.00
Down Capture49.61100.00
As at 31 Aug, 2020
Index: MSCI Europe Risk Weighted Top 100 Index (CAD Hedged)
Benchmark: MSCI Europe NR Index (CAD Hedged)

Number of securities: 98

Asset Allocation

Security Type%
Foreign Stock98.94%
Preferred Stock0.98%
Currency Security0.08%

Holdings

NameSecurity TypeISINTicker %
CHOCOLADEFABRIKEN LINDT & SPRU Foreign StockCH0010570767 LISP SW 2.54
GROUPE BRUXELLES LAMBERT SA Foreign StockBE0003797140 GBLB BB 2.01
BANQUE CANTONALE VAUDOISE Foreign StockCH0531751755 BCVN SW 1.97
GIVAUDAN SA Foreign StockCH0010645932 GIVN SW 1.61
NESTLE SA Foreign StockCH0038863350 NESN SW 1.59
CRODA INTERNATIONAL PLC Foreign StockGB00BJFFLV09 CRDA LN 1.39
SWISSCOM AG Foreign StockCH0008742519 SCMN SW 1.35
UNILEVER PLC Foreign StockGB00B10RZP78 ULVR LN 1.33
KUEHNE + NAGEL INTERNATIONAL A Foreign StockCH0025238863 KNIN SW 1.33
UNILEVER NV Foreign StockNL0000388619 UNA NA 1.32
ORKLA ASA Foreign StockNO0003733800 ORK NO 1.31
SWISS PRIME SITE AG Foreign StockCH0008038389 SPSN SW 1.29
ADMIRAL GROUP PLC Foreign StockGB00B02J6398 ADM LN 1.28
KONE OYJ Foreign StockFI0009013403 KNEBV FH 1.25
SEGRO PLC Foreign StockGB00B5ZN1N88 SGRO LN 1.25
BUNZL PLC Foreign StockGB00B0744B38 BNZL LN 1.24
AIR LIQUIDE SA Foreign StockFR0000120073 AI FP 1.23
TRYG A/S Foreign StockDK0060636678 TRYG DC 1.22
EMS-CHEMIE HOLDING AG Foreign StockCH0016440353 EMSN SW 1.21
SYMRISE AG Foreign StockDE000SYM9999 SY1 GR 1.20
WOLTERS KLUWER NV Foreign StockNL0000395903 WKL NA 1.19
SGS SA Foreign StockCH0002497458 SGSN SW 1.17
SCHINDLER HOLDING AG Foreign StockCH0024638212 SCHN SW 1.16
GEBERIT AG Foreign StockCH0030170408 GEBN SW 1.11
HERMES INTERNATIONAL Foreign StockFR0000052292 RMS FP 1.11
IBERDROLA SA Foreign StockES0144580Y14 IBE SM 1.10
SCHINDLER HOLDING AG Foreign StockCH0024638196 SCHP SW 1.08
TELENOR ASA Foreign StockNO0010063308 TEL NO 1.06
BEIERSDORF AG Foreign StockDE0005200000 BEI GR 1.06
ALSTOM SA Foreign StockFR0010220475 ALO FP 1.05
GJENSIDIGE FORSIKRING ASA Foreign StockNO0010582521 GJF NO 1.05
KERRY GROUP PLC Foreign StockIE0004906560 KYG ID 1.04
VONOVIA SE Foreign StockDE000A1ML7J1 VNA GR 1.04
DIAGEO PLC Foreign StockGB0002374006 DGE LN 1.03
INVESTOR AB Foreign StockSE0000107419 INVEB SS 1.02
TERNA RETE ELETTRICA NAZIONALE Foreign StockIT0003242622 TRN IM 1.01
INDUSTRIVARDEN AB Foreign StockSE0000107203 INDUC SS 1.00
CARLSBERG AS Foreign StockDK0010181759 CARLB DC 0.99
LEG IMMOBILIEN AG Foreign StockDE000LEG1110 LEG GR 0.98
LOREAL SA Foreign StockFR0000120321 OR FP 0.98
BARRY CALLEBAUT AG Foreign StockCH0009002962 BARN SW 0.98
L E LUNDBERGFORETAGEN AB Foreign StockSE0000108847 LUNDB SS 0.98
ROCHE HOLDING AG Foreign StockCH0012032048 ROG SW 0.98
NOVARTIS AG Foreign StockCH0012005267 NOVN SW 0.97
TELIA CO AB Foreign StockSE0000667925 TELIA SS 0.97
INTERTEK GROUP PLC Foreign StockGB0031638363 ITRK LN 0.97
HENKEL AG & CO KGAA Preferred StockDE0006048432 HEN3 GR 0.97
DEUTSCHE WOHNEN SE Foreign StockDE000A0HN5C6 DWNI GR 0.96
HEINEKEN NV Foreign StockNL0000009165 HEIA NA 0.95
DEUTSCHE TELEKOM AG Foreign StockDE0005557508 DTE GR 0.95
DANONE SA Foreign StockFR0000120644 BN FP 0.94
SPIRAX-SARCO ENGINEERING PLC Foreign StockGB00BWFGQN14 SPX LN 0.94
WM MORRISON SUPERMARKETS PLC Foreign StockGB0006043169 MRW LN 0.94
VIVENDI SA Foreign StockFR0000127771 VIV FP 0.94
HENKEL AG & CO KGAA Foreign StockDE0006048408 HEN GR 0.93
SOFINA SA Foreign StockBE0003717312 SOF BB 0.93
HEINEKEN HOLDING NV Foreign StockNL0000008977 HEIO NA 0.92
LEGRAND SA Foreign StockFR0010307819 LR FP 0.92
MERCK KGAA Foreign StockDE0006599905 MRK GR 0.91
KONINKLIJKE DSM NV Foreign StockNL0000009827 DSM NA 0.90
NATIONAL GRID PLC Foreign StockGB00BDR05C01 NG/ LN 0.89
ESSITY AB Foreign StockSE0009922164 ESSITYB SS 0.88
HALMA PLC Foreign StockGB0004052071 HLMA LN 0.86
COCA-COLA EUROPEAN PARTNERS PL Foreign StockGB00BDCPN049 CCEP US 0.85
RED ELECTRICA CORP SA Foreign StockES0173093024 REE SM 0.85
KONINKLIJKE AHOLD DELHAIZE NV Foreign StockNL0011794037 AD NA 0.85
SANOFI Foreign StockFR0000120578 SAN FP 0.84
SECURITAS AB Foreign StockSE0000163594 SECUB SS 0.84
COLRUYT SA Foreign StockBE0974256852 COLR BB 0.83
BUREAU VERITAS SA Foreign StockFR0006174348 BVI FP 0.83
ZURICH INSURANCE GROUP AG Foreign StockCH0011075394 ZURN SW 0.83
ASSA ABLOY AB Foreign StockSE0007100581 ASSAB SS 0.82
EXPERIAN PLC Foreign StockGB00B19NLV48 EXPN LN 0.82
GLAXOSMITHKLINE PLC Foreign StockGB0009252882 GSK LN 0.82
SCOUT24 AG Foreign StockDE000A12DM80 G24 GR 0.81
RECORDATI INDUSTRIA CHIMICA E Foreign StockIT0003828271 REC IM 0.81
PERNOD RICARD SA Foreign StockFR0000120693 RI FP 0.81
RELX PLC Foreign StockGB00B2B0DG97 REL LN 0.80
SNAM SPA Foreign StockIT0003153415 SRG IM 0.80
KONINKLIJKE VOPAK NV Foreign StockNL0009432491 VPK NA 0.79
SEVERN TRENT PLC Foreign StockGB00B1FH8J72 SVT LN 0.79
SAGE GROUP PLC/THE Foreign StockGB00B8C3BL03 SGE LN 0.78
NATURGY ENERGY GROUP SA Foreign StockES0116870314 NTGY SM 0.75
RECKITT BENCKISER GROUP PLC Foreign StockGB00B24CGK77 RB/ LN 0.75
THALES SA Foreign StockFR0000121329 HO FP 0.74
TESCO PLC Foreign StockGB0008847096 TSCO LN 0.73
SAMPO OYJ Foreign StockFI0009003305 SAMPO FH 0.73
ORANGE SA Foreign StockFR0000133308 ORA FP 0.72
ASSICURAZIONI GENERALI SPA Foreign StockIT0000062072 G IM 0.72
BALOISE HOLDING AG Foreign StockCH0012410517 BALN SW 0.71
DNB ASA Foreign StockNO0010031479 DNB NO 0.67
DEUTSCHE BOERSE AG Foreign StockDE0005810055 DB1 GR 0.67
ESSILORLUXOTTICA SA Foreign StockFR0000121667 EL FP 0.67
ELISA OYJ Foreign StockFI0009007884 ELISA FH 0.65
HSBC HOLDINGS PLC Foreign StockGB0005405286 HSBA LN 0.64
MOWI ASA Foreign StockNO0003054108 MOWI NO 0.62
ICADE Foreign StockFR0000035081 ICAD FP 0.59
PROXIMUS SADP Foreign StockBE0003810273 PROX BB 0.57
Currency Security 0.08

As at: 25 September 2020
Holdings are subject to change

98.31%

Distributions

Distribution details (.csv)

Twelve month trailing distribution yield : 2.37% (as at 25 Sep 2020)

RWETotalCashReinvestedEligible dividendsNon eligible dividendsOther incomeCapital GainsReturn of capitalForeign IncomeForeign tax paid
SI$6.69040$3.67730$3.01310---$2.70309$0.02219$3.93405$0.45919
2020 +$0.49030$0.49030--------
24-Sep$0.17010$0.17010--------
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$0.39000-$0.39000---$0.06962$0.00339$0.35543$0.03844
28-Dec$0.12630$0.12630----$0.02255$0.00110$0.11510$0.01245
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$1.08780-$1.08780---$0.51975-$0.63143$0.06338
29-Dec$0.12060$0.12060----$0.05762-$0.07000$0.00702
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$0.50330-$0.50330---$0.39873$0.00059$0.11198$0.00800
30-Dec$0.28500$0.28500----$0.22579$0.00033$0.06341$0.00453
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, 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 MSCI Europe Low Risk Weighted ETF (CAD Hedged) please click here