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 | -2.59% | 7.04% | 34.99% | -10.27% | -4.50% | -0.68% | 7.00% | 9.57% | 9.83% |
| Benchmark | -3.90% | 8.44% | 30.31% | 3.62% | 12.87% | 7.58% | 10.58% | 12.38% | 12.73% |
| As at: 30 Sep 2020 - Benchmark: S&P 500 Index (Total Return) | |||||||||
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.
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 | 15.78 |
| Price/Book Ratio | 1.83 |
| As at 30 Sep, 2020 | |
Index Risk Return Measures | ||
| Time period: 06/22/2000 to 09/30/2020 | Index | Benchmark |
|---|---|---|
| Return (% annualized) | 12.30 | 6.29 |
| Std Dev | 16.68 | 15.02 |
| Beta | 0.97 | 1.00 |
| Sharpe | 0.73 | 0.35 |
| Sortino Ratio | 1.11 | 0.50 |
| Up Capture | 111.51 | 100.00 |
| Down Capture | 83.44 | 100.00 |
| As at 30 Sep, 2020 Index: CIBC U.S. Buyback Index Benchmark: S&P 500 TR Index (USD) | ||
Number of securities: 40
| Security Type | % |
|---|---|
| Foreign Stock | 99.97% |
| Currency Security | 0.03% |
| Name | Security Type | ISIN | Ticker | % |
|---|---|---|---|---|
| NETAPP INC | Foreign Stock | US64110D1046 | NTAP US | 2.72 |
| BEST BUY CO INC | Foreign Stock | US0865161014 | BBY US | 2.61 |
| LYONDELLBASELL INDUSTRIES NV | Foreign Stock | NL0009434992 | LYB US | 2.59 |
| AMERIPRISE FINANCIAL INC | Foreign Stock | US03076C1062 | AMP US | 2.58 |
| MORGAN STANLEY | Foreign Stock | US6174464486 | MS US | 2.58 |
| SYNCHRONY FINANCIAL | Foreign Stock | US87165B1035 | SYF US | 2.57 |
| CORNING INC | Foreign Stock | US2193501051 | GLW US | 2.56 |
| LOWES COS INC | Foreign Stock | US5486611073 | LOW US | 2.55 |
| EBAY INC | Foreign Stock | US2786421030 | EBAY US | 2.55 |
| M&T BANK CORP | Foreign Stock | US55261F1049 | MTB US | 2.54 |
| IQVIA HOLDINGS INC | Foreign Stock | US46266C1053 | IQV US | 2.54 |
| DISCOVER FINANCIAL SERVICES | Foreign Stock | US2547091080 | DFS US | 2.53 |
| WW GRAINGER INC | Foreign Stock | US3848021040 | GWW US | 2.53 |
| INTERNATIONAL BUSINESS MACHINE | Foreign Stock | US4592001014 | IBM US | 2.53 |
| PFIZER INC | Foreign Stock | US7170811035 | PFE US | 2.52 |
| REGIONS FINANCIAL CORP | Foreign Stock | US7591EP1005 | RF US | 2.51 |
| TARGET CORP | Foreign Stock | US87612E1064 | TGT US | 2.50 |
| TRAVELERS COS INC/THE | Foreign Stock | US89417E1091 | TRV US | 2.50 |
| CISCO SYSTEMS INC | Foreign Stock | US17275R1023 | CSCO US | 2.49 |
| APPLE INC | Foreign Stock | US0378331005 | AAPL US | 2.49 |
| CSX CORP | Foreign Stock | US1264081035 | CSX US | 2.49 |
| YUM! BRANDS INC | Foreign Stock | US9884981013 | YUM US | 2.48 |
| WALMART INC | Foreign Stock | US9311421039 | WMT US | 2.47 |
| CITIZENS FINANCIAL GROUP INC | Foreign Stock | US1746101054 | CFG US | 2.47 |
| HP INC | Foreign Stock | US40434L1052 | HPQ US | 2.46 |
| UNITED RENTALS INC | Foreign Stock | US9113631090 | URI US | 2.46 |
| OREILLY AUTOMOTIVE INC | Foreign Stock | US67103H1077 | ORLY US | 2.46 |
| AMERICAN EXPRESS CO | Foreign Stock | US0258161092 | AXP US | 2.45 |
| AUTOZONE INC | Foreign Stock | US0533321024 | AZO US | 2.42 |
| CHARTER COMMUNICATIONS INC | Foreign Stock | US16119P1084 | CHTR US | 2.41 |
| HEWLETT PACKARD ENTERPRISE CO | Foreign Stock | US42824C1099 | HPE US | 2.41 |
| LOEWS CORP | Foreign Stock | US5404241086 | L US | 2.39 |
| ALLSTATE CORP/THE | Foreign Stock | US0200021014 | ALL US | 2.38 |
| CITIGROUP INC | Foreign Stock | US1729674242 | C US | 2.38 |
| BANK OF AMERICA CORP | Foreign Stock | US0605051046 | BAC US | 2.38 |
| BOOKING HOLDINGS INC | Foreign Stock | US09857L1089 | BKNG US | 2.35 |
| CARMAX INC | Foreign Stock | US1431301027 | KMX US | 2.34 |
| ROSS STORES INC | Foreign Stock | US7782961038 | ROST US | 2.29 |
| AMGEN INC | Foreign Stock | US0311621009 | AMGN US | 2.28 |
| WELLS FARGO & CO | Foreign Stock | US9497461015 | WFC US | 2.28 |
| Currency Security | 0.03 | |||
As at: 19 October 2020 | 99.07% | |||
Twelve month trailing distribution yield : 0.92% (as at 19 Oct 2020)
| FBU | Total | Cash | Reinvested | Eligible dividends | Non eligible dividends | Other income | Capital Gains | Return of capital | Foreign Income | Foreign tax paid |
|---|---|---|---|---|---|---|---|---|---|---|
| SI | $1.17980 | $0.96480 | $0.21500 | - | - | - | - | $0.09535 | $1.02883 | $0.15427 |
| 2020 + | $0.20990 | $0.20990 | - | - | - | - | - | - | - | - |
| 24-Sep | $0.07710 | $0.07710 | - | - | - | - | - | - | - | - |
| 24-Jun | $0.07710 | $0.07710 | - | - | - | - | - | - | - | - |
| 25-Mar | $0.05570 | $0.05570 | - | - | - | - | - | - | - | - |
| 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 | $0.08000 | - | $0.08000 | - | - | - | - | $0.00155 | $0.09228 | $0.01383 |
| 28-Dec | $0.07850 | $0.07850 | - | - | - | - | - | $0.00152 | $0.09055 | $0.01357 |
| 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.
30 Jun, 2020 - Semi-Annual Financial Statements
31 Dec, 2019 - Annual Financial Statements
30 Jun, 2020 - Management Report of Fund Performance
31 Dec, 2019 - Annual 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, 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