CI First Asset Tech Giants Covered Call ETF (Unhedged)
Fund Overview
The Fund's investment objective is to provide Unitholders, through an actively managed portfolio, with (i) quarterly cash distributions, (ii) the opportunity for capital appreciation by investing on an equal weight basis in a portfolio of securities of the 25 largest technology issuers measured by market capitalization, whose common shares are listed on a North American stock exchange in the GICS Information Technology Sector, as well as those in the GICS Internet & Direct Marketing Retail, Interactive Home Entertainment and Interactive Media & Services Sub-Industries, and excluding those in the GICS Data Processing & Outsourced Services Sub-Industry, and (iii) lower overall volatility of returns on the portfolio than would be experienced by owning a portfolio of securities of such issuers directly, by employing a covered call option writing program.
Investor suitability
For those who:
- want primarily US equity exposure to companies in the Technology sector on a currency unhedged basis
- want the potential for high income generation
- want to receive regular quarterly cash flows (if any)
- can tolerate medium risk.
Performance
| 1m | 3m | 6m | YTD | 1y | 2y | SI | |
|---|---|---|---|---|---|---|---|
| TXF.B | 3.29% | 14.71% | 13.29% | 16.98% | 21.90% | 13.99% | 18.06% |
| Benchmark | 3.87% | 16.83% | 18.28% | 25.42% | 41.70% | 28.58% | 30.40% |
| As at: 31 Jul 2020 - Benchmark: S&P 500 Info Tech Index (Total Return) (Unhedged) | |||||||
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.
S&P 500 Information Technology Index comprises those companies included in the S&P 500 that are classified as members of the GICS® information technology sector. The Index is used as a benchmark to help you understand the Fund`s performance relative to the general performance of information technology shares.
Key Facts
Fund Characteristics | |
| Gross Option Premium* | 13.15% |
|---|---|
| Current Dividend Yield1 | 1.11% |
| Price/Earnings Ratio | 26.30 |
| Price/Book Ratio | 7.61 |
| As at 30 Jun, 2020 * Gross Option Premiums represent those received on 19 Jun, 2020 1 The Current Dividend Yield represents the gross yield on the ETF`s underlying portfolio of securities. It is not the yield or the distribution investors will receive by virtue of an investment in the ETF. | |
Fund Statistics | |
| P/S Ratio (TTM) (Long) | 5.43 |
|---|---|
| P/C Ratio (TTM) (Long) | 17.59 |
| ROA % (TTM) (Long) | 12.93 |
| ROE % (TTM) (Long) | 35.61 |
| As at 30 Jun, 2020 | |
Distributions
Twelve month trailing distribution yield : 6.76% (as at 5 Aug 2020)
| TXF.B | Total | Cash | Reinvested | Eligible dividends | Non eligible dividends | Other income | Capital Gains | Return of capital | Foreign Income | Foreign tax paid |
|---|---|---|---|---|---|---|---|---|---|---|
| SI | $3.91500 | $3.64500 | $0.27000 | - | - | - | $1.72768 | $0.91685 | $0.54667 | $0.08201 |
| 2020 + | $0.80580 | $0.80580 | - | - | - | - | - | - | - | - |
| 24-Jun | $0.47950 | $0.47950 | - | - | - | - | - | - | - | - |
| 25-Mar | $0.32630 | $0.32630 | - | - | - | - | - | - | - | - |
| 2019 + | $1.21400 | $1.21400 | - | - | - | - | - | $0.88176 | $0.39087 | $0.05863 |
| 23-Dec | $0.29540 | $0.29540 | - | - | - | - | - | $0.21456 | $0.09511 | $0.01427 |
| 24-Sep | $0.29450 | $0.29450 | - | - | - | - | - | $0.21390 | $0.09482 | $0.01422 |
| 24-Jun | $0.29510 | $0.29510 | - | - | - | - | - | $0.21434 | $0.09501 | $0.01425 |
| 25-Mar | $0.32900 | $0.32900 | - | - | - | - | - | $0.23896 | $0.10593 | $0.01589 |
| 2018 + | $1.31840 | $1.31840 | - | - | - | - | $1.15135 | $0.03462 | $0.15580 | $0.02338 |
| 21-Dec | $0.37220 | $0.37220 | - | - | - | - | $0.32504 | $0.00977 | $0.04398 | $0.00660 |
| 24-Sep | $0.33320 | $0.33320 | - | - | - | - | $0.29098 | $0.00875 | $0.03938 | $0.00591 |
| 25-Jun | $0.34570 | $0.34570 | - | - | - | - | $0.30190 | $0.00908 | $0.04085 | $0.00613 |
| 23-Mar | $0.26730 | $0.26730 | - | - | - | - | $0.23343 | $0.00702 | $0.03159 | $0.00474 |
| 2017 + | $0.57680 | $0.30680 | $0.27000 | - | - | - | $0.57633 | $0.00047 | - | - |
| 28-Dec | $0.27000 | - | $0.27000 | - | - | - | $0.26978 | $0.00022 | - | - |
| 28-Dec | $0.30680 | $0.30680 | - | - | - | - | $0.30655 | $0.00025 | - | - |
(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
Documents
31 Dec, 2019 - Annual Financial Statements
30 Jun, 2019 - Interim Financial Statements
31 Dec, 2019 - Annual Management Report of Fund Performance
30 Jun, 2019 - Interim Management Report of Fund Performance
31 Mar, 2020 - Summary of Investment Portfolio
30 Sep, 2019 - Summary of Investment Portfolio
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 Tech Giants Covered Call ETF (Unhedged) please click here