The Fund has been designed to replicate the performance of the CIBC U.S. Buyback Index (the "Index"), net of expenses. FBU invests primarily in equity securities of issuers included in the Solactive US Large Cap Index. The Index is comprised of an equally weighted portfolio of equity securities of U.S. companies with active share buyback programs that have significantly and consistently reduced issued and outstanding share count. The Index was developed by CIBC World Markets based on empirical evidence that shows that highly profitable companies with excellent core business models often have cash flows that exceed the required re-investment needed to support intrinsic growth, which cash flows are frequently used to implement share buyback programs. The Index uses a proprietary rules-based methodology to select its constituent securities. To qualify for inclusion in the Index an equity security must be a constituent of the Solactive U.S. Large Cap Index. The Index is reconstituted and rebalanced quarterly to equal weight. It is intended that, except as described in the prospectus, at all times at least 90% of the foreign currency denominated assets held by the Fund attributable to the Units will be hedged back to the Canadian dollar.
Investor suitability
For those who:
1m | 3m | 6m | YTD | 1y | 2y | 3y | 4y | SI | |
---|---|---|---|---|---|---|---|---|---|
FBU | 7.33% | 13.99% | 36.74% | 13.99% | 84.59% | 19.34% | 14.41% | 14.97% | 16.44% |
Benchmark | 4.35% | 6.11% | 18.58% | 6.11% | 54.53% | 18.77% | 15.05% | 14.53% | 15.51% |
As at: 31 Mar 2021 - Benchmark: S&P 500 Index (Total Return) |
As at February 28, 2021
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.
Index Characteristics | |
Number of Securities | 40 |
---|---|
Price/Earnings Ratio | 19.77 |
Price/Book Ratio | 2.38 |
As at 28 Feb, 2021 |
Index Risk Return Measures | ||
Time period: 06/22/2000 to 02/28/2021 | Index | Benchmark |
---|---|---|
Return (% annualized) | 13.42 | 6.84 |
Std Dev | 16.94 | 15.09 |
Beta | 0.99 | 1.00 |
Sharpe | 0.78 | 0.38 |
Sortino Ratio | 1.21 | 0.54 |
Up Capture | 113.38 | 100.00 |
Down Capture | 83.24 | 100.00 |
As at 28 Feb, 2021 Index: CIBC U.S. Buyback Index Benchmark: S&P 500 TR Index (USD) |
Number of securities: 40
Security Type | % |
---|---|
Foreign Stock | 99.95% |
Currency Security | 0.05% |
Reconstitution/Rebalancing CI First Asset ETFs endeavours to disclose the portfolio holdings of its index-tracking ETFs (the "Index ETFs") on its website daily. In connection with the regular reconstitution/rebalancing of the indexes tracked by the Index ETFs, CI First Asset ETFs may be contractually precluded from disclosing portfolio changes arising in connection with the reconstitution/rebalancing. In order to prevent the inadvertent breach by CI First Asset ETFs of its contractual obligations and also in order to ensure that the Index ETF’s interests are maximized, CI First Asset ETFs has implemented this best practice Disclosure Policy. This policy requires that, from the period commencing 3 trading days prior to the effective date of any index reconstitution/rebalancing in respect of an Index ETF (the “Rebalancing Effective Date”) and ending 10 trading days after the Rebalancing Effective Date (or such later date at which all related Rebalancing Trades have been completed) (the “Rebalancing Period”), CI First Asset ETFs will not update portfolio information on its website in respect of such Index ETF but will instead continue to display portfolio information in respect of such Index ETF as at the trading date immediately prior to the commencement of the Rebalancing Period. This policy will protect the Index ETF from potentially being exposed to external risk factors, such as front-running, during the Rebalancing Period, and will also ensure that CI First Asset ETFs does not inadvertently breach its contractual obligations. | ||||
Name | Security Type | ISIN | Ticker | % |
---|---|---|---|---|
CARMAX INC | Foreign Stock | US1431301027 | KMX US | 3.13 |
UNITED RENTALS INC | Foreign Stock | US9113631090 | URI US | 3.02 |
HEWLETT PACKARD ENTERPRISE CO | Foreign Stock | US42824C1099 | HPE US | 2.91 |
HP INC | Foreign Stock | US40434L1052 | HPQ US | 2.78 |
BANK OF AMERICA CORP | Foreign Stock | US0605051046 | BAC US | 2.77 |
WELLS FARGO & CO | Foreign Stock | US9497461015 | WFC US | 2.76 |
REGIONS FINANCIAL CORP | Foreign Stock | US7591EP1005 | RF US | 2.74 |
AMERIPRISE FINANCIAL INC | Foreign Stock | US03076C1062 | AMP US | 2.69 |
CORNING INC | Foreign Stock | US2193501051 | GLW US | 2.66 |
AUTOZONE INC | Foreign Stock | US0533321024 | AZO US | 2.66 |
AMERICAN EXPRESS CO | Foreign Stock | US0258161092 | AXP US | 2.63 |
CITIZENS FINANCIAL GROUP INC | Foreign Stock | US1746101054 | CFG US | 2.62 |
CISCO SYSTEMS INC/DELAWARE | Foreign Stock | US17275R1023 | CSCO US | 2.62 |
ADVANCE AUTO PARTS INC | Foreign Stock | US00751Y1064 | AAP US | 2.58 |
LOWES COS INC | Foreign Stock | US5486611073 | LOW US | 2.57 |
M&T BANK CORP | Foreign Stock | US55261F1049 | MTB US | 2.57 |
CITIGROUP INC | Foreign Stock | US1729674242 | C US | 2.54 |
SYNCHRONY FINANCIAL | Foreign Stock | US87165B1035 | SYF US | 2.54 |
EBAY INC | Foreign Stock | US2786421030 | EBAY US | 2.52 |
TRAVELERS COS INC/THE | Foreign Stock | US89417E1091 | TRV US | 2.50 |
BEST BUY CO INC | Foreign Stock | US0865161014 | BBY US | 2.49 |
LYONDELLBASELL INDUSTRIES NV | Foreign Stock | NL0009434992 | LYB US | 2.47 |
BANK OF NEW YORK MELLON CORP/T | Foreign Stock | US0640581007 | BK US | 2.47 |
OREILLY AUTOMOTIVE INC | Foreign Stock | US67103H1077 | ORLY US | 2.47 |
MORGAN STANLEY | Foreign Stock | US6174464486 | MS US | 2.45 |
BIOGEN INC | Foreign Stock | US09062X1037 | BIIB US | 2.45 |
AMGEN INC | Foreign Stock | US0311621009 | AMGN US | 2.45 |
NETAPP INC | Foreign Stock | US64110D1046 | NTAP US | 2.43 |
ALLSTATE CORP/THE | Foreign Stock | US0200021014 | ALL US | 2.39 |
CSX CORP | Foreign Stock | US1264081035 | CSX US | 2.36 |
INTERNATIONAL BUSINESS MACHINE | Foreign Stock | US4592001014 | IBM US | 2.36 |
BOOKING HOLDINGS INC | Foreign Stock | US09857L1089 | BKNG US | 2.36 |
IQVIA HOLDINGS INC | Foreign Stock | US46266C1053 | IQV US | 2.33 |
DISCOVER FINANCIAL SERVICES | Foreign Stock | US2547091080 | DFS US | 2.27 |
ROSS STORES INC | Foreign Stock | US7782961038 | ROST US | 2.24 |
WW GRAINGER INC | Foreign Stock | US3848021040 | GWW US | 2.22 |
CHARTER COMMUNICATIONS INC | Foreign Stock | US16119P1084 | CHTR US | 2.19 |
PFIZER INC | Foreign Stock | US7170811035 | PFE US | 2.16 |
APPLE INC | Foreign Stock | US0378331005 | AAPL US | 2.03 |
ALTICE USA INC | Foreign Stock | US02156K1034 | ATUS US | 1.97 |
Currency Security | 0.05 | |||
As at: 29 March 2021 | 100.42% |
Twelve month trailing distribution yield : 0.85% (as at 8 Apr 2021)
FBU | Total | Cash | Reinvested | Eligible dividends | Non eligible dividends | Other income | Capital Gains | Return of capital | Foreign Income | Foreign tax paid |
---|---|---|---|---|---|---|---|---|---|---|
SI | $1.43440 | $1.14040 | $0.29400 | - | - | - | - | $0.09535 | $1.51817 | $0.22761 |
2021 + | $0.04850 | $0.04850 | - | - | - | - | - | - | - | - |
25-Mar | $0.04850 | $0.04850 | - | - | - | - | - | - | - | - |
2020 + | $0.41600 | $0.33700 | $0.07900 | - | - | - | - | - | $0.48934 | $0.07334 |
30-Dec | $0.07900 | - | $0.07900 | - | - | - | - | - | $0.09293 | $0.01393 |
23-Dec | $0.12710 | $0.12710 | - | - | - | - | - | - | $0.14951 | $0.02241 |
24-Sep | $0.07710 | $0.07710 | - | - | - | - | - | - | $0.09069 | $0.01359 |
24-Jun | $0.07710 | $0.07710 | - | - | - | - | - | - | $0.09069 | $0.01359 |
25-Mar | $0.05570 | $0.05570 | - | - | - | - | - | - | $0.06552 | $0.00982 |
2019 + | $0.35390 | $0.21890 | $0.13500 | - | - | - | - | $0.00154 | $0.41455 | $0.06219 |
30-Dec | $0.13500 | - | $0.13500 | - | - | - | - | $0.00058 | $0.15814 | $0.02372 |
23-Dec | $0.05570 | $0.05570 | - | - | - | - | - | $0.00024 | $0.06525 | $0.00979 |
24-Sep | $0.05440 | $0.05440 | - | - | - | - | - | $0.00024 | $0.06372 | $0.00956 |
24-Jun | $0.05440 | $0.05440 | - | - | - | - | - | $0.00024 | $0.06372 | $0.00956 |
25-Mar | $0.05440 | $0.05440 | - | - | - | - | - | $0.00024 | $0.06372 | $0.00956 |
2018 + | $0.21750 | $0.21750 | - | - | - | - | - | $0.04637 | $0.20133 | $0.03019 |
21-Dec | $0.05930 | $0.05930 | - | - | - | - | - | $0.01264 | $0.05489 | $0.00823 |
24-Sep | $0.05930 | $0.05930 | - | - | - | - | - | $0.01264 | $0.05489 | $0.00823 |
25-Jun | $0.05650 | $0.05650 | - | - | - | - | - | $0.01205 | $0.05230 | $0.00784 |
23-Mar | $0.04240 | $0.04240 | - | - | - | - | - | $0.00904 | $0.03925 | $0.00589 |
2017 + | $0.34650 | $0.26650 | $0.08000 | - | - | - | - | $0.00671 | $0.39969 | $0.05990 |
28-Dec | $0.07850 | $0.07850 | - | - | - | - | - | $0.00152 | $0.09055 | $0.01357 |
28-Dec | $0.08000 | - | $0.08000 | - | - | - | - | $0.00155 | $0.09228 | $0.01383 |
28-Sep | $0.07850 | $0.07850 | - | - | - | - | - | $0.00152 | $0.09055 | $0.01357 |
29-Jun | $0.04910 | $0.04910 | - | - | - | - | - | $0.00095 | $0.05664 | $0.00849 |
30-Mar | $0.06040 | $0.06040 | - | - | - | - | - | $0.00117 | $0.06967 | $0.01044 |
2016 + | $0.05200 | $0.05200 | - | - | - | - | - | $0.04073 | $0.01326 | $0.00199 |
29-Dec | $0.05200 | $0.05200 | - | - | - | - | - | $0.04073 | $0.01326 | $0.00199 |
(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.
19 Feb, 2021 - Management Information Circular
19 Feb, 2021 - Notice of meeting
10 Feb, 2021 - Form of Proxy
1 Feb, 2021 - CI Global Asset Management Announces Changes to its ETF Lineup
11 Dec, 2020 - Securityholders approve fixed administration fees for 19 CI Global Asset Management ETFs
4 Dec, 2020 - CI Global Asset Management provides update on proposed fixed administration fees
4 Dec, 2020 - Report on the voting results at the Special Meetings
23 Oct, 2020 - Notice of meeting
23 Oct, 2020 - Management Information Circular
23 Oct, 2020 - Form of Proxy
31 Dec, 2020 - Annual Financial Statements
30 Jun, 2020 - Semi-Annual Financial Statements
31 Dec, 2019 - Annual Financial Statements
31 Dec, 2020 - Management Report of Fund Performance
30 Jun, 2020 - Management Report of Fund Performance
31 Dec, 2019 - Annual Management Report of Fund Performance
30 Sep, 2020 - Summary of Investment Portfolio
31 Mar, 2020 - 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, 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. Buyback Index ETF (CAD Hedged) please click here