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 3.93%7.61%-6.52%-5.10%2.41%2.49%4.54%5.07%3.47%7.12%
As at: 31 Jul 2020

 

Historical NAVs

Sector Breakdown

As at June 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.


Key Facts

Index Characteristics

Number of Securities99
Price/Earnings Ratio20.06
Price/Book Ratio2.35
As at 30 Jun, 2020

Index Risk Return Measures

Time period: 12/31/1998 to 06/30/2020IndexBenchmark
Return (% annualized)6.743.32
Std Dev11.4314.33
Beta0.661.00
Sharpe0.440.15
Sortino Ratio0.650.20
Up Capture78.58100.00
Down Capture57.52100.00
As at 30 Jun, 2020
Index: MSCI Europe Risk Weighted Top 100 Index
Benchmark: MSCI Europe GR Index (Unhedged)
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Distributions

Distribution details (.csv)

Twelve month trailing distribution yield : 2.12% (as at 5 Aug 2020)

RWE.BTotalCashReinvestedEligible dividendsNon eligible dividendsOther incomeCapital GainsReturn of capitalForeign IncomeForeign tax paid
SI$3.96190$3.35640$0.60550---$0.27094$0.09391$3.72050$0.42197
2020 +$0.29850$0.29850--------
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$0.12300$0.12300------$0.13817$0.01517
28-Dec$0.07000-$0.07000-----$0.07863$0.00863
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$0.11760$0.11760-----$0.00001$0.13066$0.01307
29-Dec$0.19520-$0.19520----$0.00001$0.21688$0.02169
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$0.13580$0.13580-----$0.00039$0.14618$0.01077
30-Dec$0.06530-$0.06530----$0.00019$0.07029$0.00518
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, 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 (Unhedged) please click here