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

Fund Overview

The Fund has been designed to replicate, to the extent possible, the performance of the MSCI USA Risk Weighted Top 150 Index (the "Index"), net of expenses. The Index is based on a traditional market capitalization weighted parent index, the MSCI USA Index, which includes US 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 150 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 US 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
RWU.B 4.53%5.41%-6.90%-2.09%2.16%9.45%10.54%9.29%10.06%14.43%
Benchmark3.89%8.85%3.74%5.76%14.20%11.52%14.60%13.77%12.13%15.69%
As at: 31 Jul 2020 - Benchmark: S&P 500 Index (Total Return) (Unhedged)

 

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 S&P 500 Index tracks 500 large-cap U.S. stocks representing all major industries. This index is used as a benchmark to help you understand the Fund`s performance relative to the general performance of the broader U.S. equity market.

Key Facts

Index Characteristics

Number of Securities149
Price/Earnings Ratio26.89
Price/Book Ratio3.56
As at 31 Jul, 2020

Index Risk Return Measures

Time period: 12/31/1998 to 07/31/2020IndexBenchmark
Return (% annualized)7.365.98
Std Dev11.4712.48
Beta0.661.00
Sharpe0.490.35
Sortino Ratio0.730.51
Up Capture71.77100.00
Down Capture52.52100.00
As at 31 Jul, 2020
Index: MSCI USA Risk Weighted Top 150 Index (Unhedged)
Benchmark: S&P 500 TR Index (Unhedged)
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Distributions

Distribution details (.csv)

Twelve month trailing distribution yield : 1.55% (as at 13 Aug 2020)

RWU.BTotalCashReinvestedEligible dividendsNon eligible dividendsOther incomeCapital GainsReturn of capitalForeign IncomeForeign tax paid
SI$2.86220$1.64390$1.21830---$0.99797$0.10838$1.83553$0.26448
2020 +$0.18480$0.18480--------
24-Jun$0.10740$0.10740--------
25-Mar$0.07740$0.07740--------
2019 +$0.90160$0.30260$0.59900---$0.48367$0.00923$0.46919$0.06049
30-Dec$0.59900-$0.59900---$0.32134$0.00613$0.31172$0.04019
23-Dec$0.07740$0.07740----$0.04152$0.00079$0.04028$0.00519
24-Sep$0.07510$0.07510----$0.04029$0.00077$0.03908$0.00504
24-Jun$0.07510$0.07510----$0.04029$0.00077$0.03908$0.00504
25-Mar$0.07500$0.07500----$0.04023$0.00077$0.03903$0.00503
2018 +$0.31300$0.28700$0.02600----$0.02010$0.34382$0.05092
28-Dec$0.02600-$0.02600-----$0.03038$0.00438
21-Dec$0.07180$0.07180------$0.08390$0.01210
14-Sep$0.09230$0.09230-----$0.00862$0.09845$0.01477
25-Jun$0.06660$0.06660-----$0.00622$0.07104$0.01066
23-Mar$0.05630$0.05630-----$0.00526$0.06005$0.00901
2017 +$0.44030$0.22030$0.22000----$0.00495$0.51206$0.07671
28-Dec$0.05390$0.05390-----$0.00061$0.06268$0.00939
28-Dec$0.22000-$0.22000----$0.00247$0.25586$0.03833
28-Sep$0.05230$0.05230-----$0.00059$0.06082$0.00911
29-Jun$0.05600$0.05600-----$0.00063$0.06513$0.00976
30-Mar$0.05810$0.05810-----$0.00065$0.06757$0.01012
2016 +$0.32260$0.21260$0.11000---$0.13098$0.00007$0.22529$0.03374
29-Dec$0.05740$0.05740----$0.02331$0.00001$0.04009$0.00601
29-Dec$0.11000-$0.11000---$0.04466$0.00003$0.07682$0.01151
29-Sep$0.05190$0.05190----$0.02107$0.00001$0.03624$0.00542
29-Jun$0.05050$0.05050----$0.02050$0.00001$0.03527$0.00528
30-Mar$0.05280$0.05280----$0.02144$0.00001$0.03687$0.00552
2015 +$0.20110$0.20110-----$0.07353$0.14990$0.02233
30-Dec$0.05380$0.05380-----$0.01967$0.04010$0.00597
29-Sep$0.05130$0.05130-----$0.01876$0.03824$0.00570
29-Jun$0.04710$0.04710-----$0.01722$0.03511$0.00523
30-Mar$0.04890$0.04890-----$0.01788$0.03645$0.00543
2014 +$0.49880$0.23550$0.26330---$0.38332$0.00050$0.13527$0.02029
30-Dec$0.13150$0.13150----$0.10106$0.00013$0.03566$0.00535
30-Dec$0.26330-$0.26330---$0.20234$0.00027$0.07140$0.01071
29-Sep$0.04280$0.04280----$0.03289$0.00004$0.01161$0.00174
27-Jun$0.06120$0.06120----$0.04703$0.00006$0.01660$0.00249

(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 USA Low Risk Weighted ETF (Unhedged) please click here