CI First Asset U.S. & Canada Lifeco Income ETF

Fund Overview

The ETF's investment objectives are to provide unitholders with (i) quarterly cash distributions; (ii) the opportunity for capital appreciation; and (iii) lower overall volatility of portfolio returns than would be experienced by owning a portfolio of publicly-traded common equity securities of the ten largest U.S. and Canadian life insurance companies by market capitalization directly.

Investor suitability
For those who:

  • want North-American equity exposure to life insurance companies
  • want the potential for high income generation
  • want active currency management (tactical hedging)
  • want to receive regular quarterly cash flows (if any)
  • can tolerate high risk.

Performance

 1m3m6mYTD1y2y3y4y5ySI
FLI -3.37%4.12%16.89%-28.13%-25.83%-13.63%-9.68%-2.30%-0.75%3.15%
Benchmark-3.90%8.44%30.31%3.62%12.87%7.58%10.58%12.38%12.83%11.93%
As at: 30 Sep 2020 - Benchmark: S&P 500 Index (Total Return) (CAD Hedged)

 

Historical NAVs

Sector Breakdown

As at September 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. CI First Asset U.S. & Canada Lifeco Income ETF (FLI) was originally launched as a TSX-listed closed-end fund on August 22, 2013, and automatically converted into a TSX-listed exchange traded fund on September 3, 2014, with no change to its investment objectives or management fees. Performance shown is since inception of the closed-end fund.


The S&P 500 Index (CAD Hedged) tracks 500 large-cap U.S. stocks representing all major industries. The 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 on a currency hedged basis.

Key Facts

Fund Characteristics

Gross Option Premium*5.70%
Current Dividend Yield14.91%
Price/Earnings Ratio8.20
Price/Book Ratio0.60
As at 30 Sep, 2020
* Gross Option Premiums represent those received on 18 Sep, 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)0.55
ROA % (TTM) (Long)0.98
ROE % (TTM) (Long)8.42
As at 30 Sep, 2020

Number of securities: 20

Asset Allocation

Security Type%
Foreign Stock67.18%
Common Stock32.82%

Holdings

NameSecurity TypeISINTicker %
SUN LIFE FINANCIAL INC Common StockCA8667961053 SLF CN 12.17
GLOBE LIFE INC Foreign StockUS37959E1029 GL US 11.36
GREAT WEST LIFECO INC Common StockCA39138C1068 GWO CN 11.32
METLIFE INC Foreign StockUS59156R1086 MET US 10.69
AFLAC INC Foreign StockUS0010551028 AFL US 9.96
PRUDENTIAL FINANCIAL INC Foreign StockUS7443201022 PRU US 9.76
PRINCIPAL FINANCIAL GROUP INC Foreign StockUS74251V1026 PFG US 9.61
MANULIFE FINANCIAL CORP Common StockCA56501R1064 MFC CN 9.53
UNUM GROUP Foreign StockUS91529Y1064 UNM US 9.08
LINCOLN NATIONAL CORP Foreign StockUS5341871094 LNC US 7.13
AFL CN CALL 40 11/20/20 AFLAC INC (21/11/2020) Option 0.00
PFG US CALL 45 11/20/20 PRINCIPAL FINANCIAL GP (21/11/2020) Option 0.00
SLF CN CALL 56 11/20/20 SUN LIFE FINANCIAL (21/11/2020) Option 0.00
UNM US CALL 20 11/20/20 UNUM GROUP (21/11/2020) Option 0.00
MFC CN CALL 19 11/20/20 MANULIFE FINANCIAL CORP (21/11/2020) Option 0.00
GWO CN CALL 28 11/20/20 GREAT WEST LIFECO INC (21/11/2020) Option 0.00
MET US CALL 40 11/20/20 METLIFE INC (21/11/2020) Option 0.00
GL CN CALL 85 11/20/20 GLOBE LIFE INC (21/11/2020) Option 0.00
PRU US CALL 67.5 11/20/20 PRUDENTIAL FINANCIAL INC (21/11/2020) Option 0.00
LNC US CALL 35 11/20/20 LINCOLN NATIONAL CORP (21/11/2020) Option 0.00

As at: 16 October 2020
Holdings are subject to change

100.61%

Distributions

Distribution details (.csv)

Twelve month trailing distribution yield : 12.52% (as at 16 Oct 2020)

FLITotalCashReinvestedEligible dividendsNon eligible dividendsOther incomeCapital GainsReturn of capitalForeign IncomeForeign tax paid
SI$5.36960$4.91960$0.45000$0.32591--$2.50711$1.61598$0.17188$0.02578
2020 +$0.77450$0.77450--------
24-Sep$0.25910$0.25910--------
24-Jun$0.33120$0.33120--------
25-Mar$0.18420$0.18420--------
2019 +$0.70050$0.70050-$0.17263---$0.41152$0.13687$0.02053
23-Dec$0.18340$0.18340-$0.04520---$0.10774$0.03583$0.00538
24-Sep$0.16270$0.16270-$0.04010---$0.09558$0.03179$0.00477
24-Jun$0.15470$0.15470-$0.03812---$0.09088$0.03023$0.00453
25-Mar$0.19970$0.19970-$0.04921---$0.11732$0.03902$0.00585
2018 +$0.72810$0.72810-$0.14295--$0.12130$0.43410$0.03501$0.00525
21-Dec$0.22110$0.22110-$0.04341--$0.03684$0.13182$0.01063$0.00159
24-Sep$0.15890$0.15890-$0.03120--$0.02647$0.09474$0.00764$0.00115
25-Jun$0.18400$0.18400-$0.03612--$0.03065$0.10970$0.00885$0.00133
23-Mar$0.16410$0.16410-$0.03222--$0.02734$0.09784$0.00789$0.00118
2017 +$1.12600$0.67600$0.45000$0.01033--$1.10848$0.00719--
28-Dec$0.16900$0.16900-$0.00155--$0.16637$0.00108--
28-Dec$0.45000-$0.45000$0.00413--$0.44300$0.00287--
28-Sep$0.16900$0.16900-$0.00155--$0.16637$0.00108--
29-Jun$0.16900$0.16900-$0.00155--$0.16637$0.00108--
30-Mar$0.16900$0.16900-$0.00155--$0.16637$0.00108--
2016 +$0.71960$0.71960----$0.69284$0.02676--
29-Dec$0.19260$0.19260----$0.18544$0.00716--
29-Sep$0.16570$0.16570----$0.15954$0.00616--
29-Jun$0.17200$0.17200----$0.16560$0.00640--
30-Mar$0.18930$0.18930----$0.18226$0.00704--
2015 +$0.57820$0.57820----$0.47123$0.10697--
30-Dec$0.18640$0.18640----$0.15192$0.03448--
29-Sep$0.15960$0.15960----$0.13007$0.02953--
29-Jun$0.12010$0.12010----$0.09788$0.02222--
30-Mar$0.11210$0.11210----$0.09136$0.02074--
2014 +$0.50770$0.50770----$0.11326$0.39444--
30-Dec$0.11420$0.11420----$0.02548$0.08872--
29-Sep$0.12000$0.12000----$0.02677$0.09323--
30-Jun$0.11100$0.11100----$0.02476$0.08624--
31-Mar$0.16250$0.16250----$0.03625$0.12625--
2013 +$0.23500$0.23500-----$0.23500--
31-Dec$0.23500$0.23500-----$0.23500--

(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 Feb 2018 Actively managed ETFs just keep getting hotter The Globel and Mail | Clare O'Hara
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
15 May 2014 There’s no debating the intelligence of “smart beta” Your Guide to ETF Investing
13 May 2014 Behind the Scenes with Smart Beta www.wealthprofessional.ca
5 May 2014 Taming Wild Currency Plays www.wealthprofessional.ca
14 Apr 2014 Fifteen top Canadian equity funds The Globe and Mail | Jacqueline Nelson
19 Mar 2014 First Asset ETFs March Distributions Marketwired
14 Mar 2014 Understanding factor-indexed ETFs ADVISOR.CA
10 Dec 2013 Intelligent indexing puts a new spin on ETF investing Special to Financial Post
13 Sep 2013 Don't buy exchange-traded funds blindly Richmond News

Documents

5 Oct, 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 U.S. & Canada Lifeco Income ETF please click here