CI First Asset MSCI Europe Low Risk Weighted ETF (Unhedged)

Fund Overview

The Fund has been designed to replicate, to the extent possible, the performance of the MSCI Europe Risk Weighted Top 100 Index (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 mid-capitalization 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 investment strategy of the Fund is to invest in and hold the constituent securities of the Index. Foreign currency assets held by the Fund attributable to the Units will not be hedged back to the Canadian dollar.

Investor suitability
For those who:

  • want European equity exposure on a currency unhedged 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.B 0.21%4.79%1.34%-4.90%1.04%2.49%4.46%5.03%4.24%7.06%
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

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)6.893.46
Std Dev11.4114.28
Beta0.661.00
Sharpe0.450.16
Sortino Ratio0.680.22
Up Capture78.90100.00
Down Capture57.52100.00
As at 31 Aug, 2020
Index: MSCI Europe Risk Weighted Top 100 Index
Benchmark: MSCI Europe GR Index (Unhedged)

Number of securities: 98

Asset Allocation

Security Type%
Foreign Stock98.95%
Preferred Stock0.99%
Currency Security0.07%

Holdings

NameSecurity TypeISINTicker %
CHOCOLADEFABRIKEN LINDT & SPRU Foreign StockCH0010570767 LISP SW 2.49
GROUPE BRUXELLES LAMBERT SA Foreign StockBE0003797140 GBLB BB 2.05
BANQUE CANTONALE VAUDOISE Foreign StockCH0531751755 BCVN SW 2.01
GIVAUDAN SA Foreign StockCH0010645932 GIVN SW 1.63
NESTLE SA Foreign StockCH0038863350 NESN SW 1.53
CRODA INTERNATIONAL PLC Foreign StockGB00BJFFLV09 CRDA LN 1.38
SWISSCOM AG Foreign StockCH0008742519 SCMN SW 1.33
ADMIRAL GROUP PLC Foreign StockGB00B02J6398 ADM LN 1.31
ORKLA ASA Foreign StockNO0003733800 ORK NO 1.30
UNILEVER PLC Foreign StockGB00B10RZP78 ULVR LN 1.29
SWISS PRIME SITE AG Foreign StockCH0008038389 SPSN SW 1.29
UNILEVER NV Foreign StockNL0000388619 UNA NA 1.29
KUEHNE + NAGEL INTERNATIONAL A Foreign StockCH0025238863 KNIN SW 1.28
AIR LIQUIDE SA Foreign StockFR0000120073 AI FP 1.25
SEGRO PLC Foreign StockGB00B5ZN1N88 SGRO LN 1.25
EMS-CHEMIE HOLDING AG Foreign StockCH0016440353 EMSN SW 1.23
KONE OYJ Foreign StockFI0009013403 KNEBV FH 1.21
TRYG A/S Foreign StockDK0060636678 TRYG DC 1.20
BUNZL PLC Foreign StockGB00B0744B38 BNZL LN 1.19
SYMRISE AG Foreign StockDE000SYM9999 SY1 GR 1.19
WOLTERS KLUWER NV Foreign StockNL0000395903 WKL NA 1.16
SCHINDLER HOLDING AG Foreign StockCH0024638212 SCHN SW 1.16
SGS SA Foreign StockCH0002497458 SGSN SW 1.14
GJENSIDIGE FORSIKRING ASA Foreign StockNO0010582521 GJF NO 1.14
HERMES INTERNATIONAL Foreign StockFR0000052292 RMS FP 1.10
TELENOR ASA Foreign StockNO0010063308 TEL NO 1.09
IBERDROLA SA Foreign StockES0144580Y14 IBE SM 1.09
ALSTOM SA Foreign StockFR0010220475 ALO FP 1.08
SCHINDLER HOLDING AG Foreign StockCH0024638196 SCHP SW 1.08
BEIERSDORF AG Foreign StockDE0005200000 BEI GR 1.07
GEBERIT AG Foreign StockCH0030170408 GEBN SW 1.07
VONOVIA SE Foreign StockDE000A1ML7J1 VNA GR 1.07
KERRY GROUP PLC Foreign StockIE0004906560 KYG ID 1.05
INVESTOR AB Foreign StockSE0000107419 INVEB SS 1.04
DIAGEO PLC Foreign StockGB0002374006 DGE LN 1.03
INDUSTRIVARDEN AB Foreign StockSE0000107203 INDUC SS 1.01
CARLSBERG AS Foreign StockDK0010181759 CARLB DC 1.00
L E LUNDBERGFORETAGEN AB Foreign StockSE0000108847 LUNDB SS 1.00
LEG IMMOBILIEN AG Foreign StockDE000LEG1110 LEG GR 0.99
ROCHE HOLDING AG Foreign StockCH0012032048 ROG SW 0.99
DEUTSCHE WOHNEN SE Foreign StockDE000A0HN5C6 DWNI GR 0.99
HEINEKEN NV Foreign StockNL0000009165 HEIA NA 0.99
TERNA RETE ELETTRICA NAZIONALE Foreign StockIT0003242622 TRN IM 0.98
LOREAL SA Foreign StockFR0000120321 OR FP 0.98
NOVARTIS AG Foreign StockCH0012005267 NOVN SW 0.98
DEUTSCHE TELEKOM AG Foreign StockDE0005557508 DTE GR 0.98
HENKEL AG & CO KGAA Preferred StockDE0006048432 HEN3 GR 0.98
LEGRAND SA Foreign StockFR0010307819 LR FP 0.97
DANONE SA Foreign StockFR0000120644 BN FP 0.97
BARRY CALLEBAUT AG Foreign StockCH0009002962 BARN SW 0.97
TELIA CO AB Foreign StockSE0000667925 TELIA SS 0.96
INTERTEK GROUP PLC Foreign StockGB0031638363 ITRK LN 0.96
HEINEKEN HOLDING NV Foreign StockNL0000008977 HEIO NA 0.95
VIVENDI SA Foreign StockFR0000127771 VIV FP 0.93
WM MORRISON SUPERMARKETS PLC Foreign StockGB0006043169 MRW LN 0.93
HENKEL AG & CO KGAA Foreign StockDE0006048408 HEN GR 0.93
SOFINA SA Foreign StockBE0003717312 SOF BB 0.92
MERCK KGAA Foreign StockDE0006599905 MRK GR 0.91
KONINKLIJKE DSM NV Foreign StockNL0000009827 DSM NA 0.90
SPIRAX-SARCO ENGINEERING PLC Foreign StockGB00BWFGQN14 SPX LN 0.90
ESSITY AB Foreign StockSE0009922164 ESSITYB SS 0.88
COCA-COLA EUROPEAN PARTNERS PL Foreign StockGB00BDCPN049 CCEP US 0.88
ZURICH INSURANCE GROUP AG Foreign StockCH0011075394 ZURN SW 0.87
SECURITAS AB Foreign StockSE0000163594 SECUB SS 0.86
NATIONAL GRID PLC Foreign StockGB00BDR05C01 NG/ LN 0.86
BUREAU VERITAS SA Foreign StockFR0006174348 BVI FP 0.86
ASSA ABLOY AB Foreign StockSE0007100581 ASSAB SS 0.85
HALMA PLC Foreign StockGB0004052071 HLMA LN 0.85
EXPERIAN PLC Foreign StockGB00B19NLV48 EXPN LN 0.84
SANOFI Foreign StockFR0000120578 SAN FP 0.84
RED ELECTRICA CORP SA Foreign StockES0173093024 REE SM 0.84
KONINKLIJKE AHOLD DELHAIZE NV Foreign StockNL0011794037 AD NA 0.83
PERNOD RICARD SA Foreign StockFR0000120693 RI FP 0.82
GLAXOSMITHKLINE PLC Foreign StockGB0009252882 GSK LN 0.82
RELX PLC Foreign StockGB00B2B0DG97 REL LN 0.81
SCOUT24 AG Foreign StockDE000A12DM80 G24 GR 0.80
RECORDATI INDUSTRIA CHIMICA E Foreign StockIT0003828271 REC IM 0.80
COLRUYT SA Foreign StockBE0974256852 COLR BB 0.79
SAGE GROUP PLC/THE Foreign StockGB00B8C3BL03 SGE LN 0.78
KONINKLIJKE VOPAK NV Foreign StockNL0009432491 VPK NA 0.78
SEVERN TRENT PLC Foreign StockGB00B1FH8J72 SVT LN 0.77
SNAM SPA Foreign StockIT0003153415 SRG IM 0.76
SAMPO OYJ Foreign StockFI0009003305 SAMPO FH 0.76
BALOISE HOLDING AG Foreign StockCH0012410517 BALN SW 0.76
THALES SA Foreign StockFR0000121329 HO FP 0.76
ORANGE SA Foreign StockFR0000133308 ORA FP 0.75
NATURGY ENERGY GROUP SA Foreign StockES0116870314 NTGY SM 0.75
ASSICURAZIONI GENERALI SPA Foreign StockIT0000062072 G IM 0.75
RECKITT BENCKISER GROUP PLC Foreign StockGB00B24CGK77 RB/ LN 0.73
DNB ASA Foreign StockNO0010031479 DNB NO 0.72
TESCO PLC Foreign StockGB0008847096 TSCO LN 0.72
MOWI ASA Foreign StockNO0003054108 MOWI NO 0.68
ESSILORLUXOTTICA SA Foreign StockFR0000121667 EL FP 0.68
HSBC HOLDINGS PLC Foreign StockGB0005405286 HSBA LN 0.67
DEUTSCHE BOERSE AG Foreign StockDE0005810055 DB1 GR 0.66
ELISA OYJ Foreign StockFI0009007884 ELISA FH 0.63
ICADE Foreign StockFR0000035081 ICAD FP 0.62
PROXIMUS SADP Foreign StockBE0003810273 PROX BB 0.59
Currency Security 0.06

As at: 18 September 2020
Holdings are subject to change

98.62%

Distributions

Distribution details (.csv)

Twelve month trailing distribution yield : 2.64% (as at 18 Sep 2020)

RWE.BTotalCashReinvestedEligible dividendsNon eligible dividendsOther incomeCapital GainsReturn of capitalForeign IncomeForeign tax paid
SI$4.11570$3.51020$0.60550---$0.27094$0.09391$3.72050$0.42197
2020 +$0.45230$0.45230--------
24-Sep$0.15380$0.15380--------
24-Jun$0.15380$0.15380--------
25-Mar$0.14470$0.14470--------
2019 +$0.57500$0.56600$0.00900----$0.02693$0.64479$0.09672
30-Dec$0.00900-$0.00900----$0.00042$0.01009$0.00151
23-Dec$0.14470$0.14470-----$0.00678$0.16226$0.02434
24-Sep$0.14070$0.14070-----$0.00659$0.15778$0.02367
24-Jun$0.14070$0.14070-----$0.00659$0.15778$0.02367
25-Mar$0.13990$0.13990-----$0.00655$0.15688$0.02353
2018 +$0.83500$0.56900$0.26600---$0.27094$0.00159$0.66170$0.09925
28-Dec$0.26600-$0.26600---$0.08631$0.00051$0.21080$0.03162
21-Dec$0.14190$0.14190----$0.04604$0.00027$0.11245$0.01687
24-Sep$0.14280$0.14280----$0.04634$0.00027$0.11316$0.01697
25-Jun$0.14280$0.14280----$0.04634$0.00027$0.11316$0.01697
23-Mar$0.14150$0.14150----$0.04591$0.00027$0.11213$0.01682
2017 +$0.56240$0.49240$0.07000-----$0.63176$0.06936
28-Dec$0.07000-$0.07000-----$0.07863$0.00863
28-Dec$0.12300$0.12300------$0.13817$0.01517
28-Sep$0.12300$0.12300------$0.13817$0.01517
29-Jun$0.12540$0.12540------$0.14087$0.01547
30-Mar$0.12100$0.12100------$0.13592$0.01492
2016 +$0.70870$0.51350$0.19520----$0.00005$0.78742$0.07877
29-Dec$0.19520-$0.19520----$0.00001$0.21688$0.02169
29-Dec$0.11760$0.11760-----$0.00001$0.13066$0.01307
29-Sep$0.12620$0.12620-----$0.00001$0.14022$0.01403
29-Jun$0.13260$0.13260-----$0.00001$0.14733$0.01474
30-Mar$0.13710$0.13710-----$0.00001$0.15233$0.01524
2015 +$0.49120$0.49120-----$0.06392$0.46620$0.03892
30-Dec$0.13610$0.13610-----$0.01771$0.12917$0.01078
29-Sep$0.12710$0.12710-----$0.01654$0.12063$0.01007
29-Jun$0.12090$0.12090-----$0.01573$0.11475$0.00958
30-Mar$0.10710$0.10710-----$0.01394$0.10165$0.00849
2014 +$0.49110$0.42580$0.06530----$0.00142$0.52863$0.03895
30-Dec$0.06530-$0.06530----$0.00019$0.07029$0.00518
30-Dec$0.13580$0.13580-----$0.00039$0.14618$0.01077
29-Sep$0.11400$0.11400-----$0.00033$0.12271$0.00904
27-Jun$0.17600$0.17600-----$0.00051$0.18945$0.01396

(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 (Unhedged) please click here