CI MSCI Europe Low Risk Weighted ETF (CAD Hedged)

Fund Overview

The Fund has been designed to replicate, to the extent possible, the performance of the MSCI Europe Risk Weighted Top 100 Index (CAD Hedged) (the "Index"), net of expenses. The Index is based on a traditional market capitalization weighted parent index, the MSCI Europe Index, which includes developed Europe large and midcapitalization 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 100 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 Index is hedged to the Canadian dollar by notionally "selling" each foreign currency forward at the one-month forward exchange rate at the end of each month. The investment strategy of the Fund is to invest in and hold the constituent securities of the Index. 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:

  • want European equity exposure on a CAD hedged basis
  • are primarily focused on risk mitigation
  • want to receive regular quarterly cash flows (if any)
  • Can tolerate low to medium risk.

Performance

 1m3m6mYTD1y2y3y4y5ySI
RWE 4.97%8.48%8.40%18.89%18.89%5.78%12.25%7.71%8.88%8.73%
Benchmark5.15%6.51%7.08%22.61%22.61%9.49%14.05%7.32%8.45%7.92%
As at: 31 Dec 2021 - Benchmark: MSCI Europe NR Index

 

Historical NAVs

Sector Breakdown

As at November 30, 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 MSCI Europe Index captures large and mid-cap equities across 15 Developed Markets countries in Europe, covering approximately 85% of the free float-adjusted market capitalization across that universe. This Index is used as a benchmark to help you understand the Fund`s performance relative to the general performance of the broader European equity markets.

Key Facts

Index Characteristics

Number of Securities98
Price/Earnings Ratio18.58
Price/Book Ratio2.87
As at 30 Nov, 2021

Index Risk Return Measures

Time period: 12/31/1998 to 11/30/2021 Index Benchmark
Return (% annualized)8.154.66
Std Dev10.7214.93
Beta0.621.00
Sharpe0.590.24
Sortino Ratio0.820.33
Up Capture74.45100.00
Down Capture50.46100.00
As at 30 Nov, 2021
Index: MSCI Europe Risk Weighted Top 100 Index (CAD Hedged)
Benchmark: MSCI Europe NR Index (CAD Hedged)

Number of securities: 100

Asset Allocation

Security Type%
Foreign Stock98.95%
Preferred Stock0.98%
Currency Security0.05%

Holdings

NameSecurity TypeISINTicker %
CHOCOLADEFABRIKEN LINDT & SPRU Foreign StockCH0010570767 LISP SE 2.51
NESTLE SA Foreign StockCH0038863350 NESN SW 1.95
ORKLA ASA Foreign StockNO0003733800 ORK NO 1.67
SWISSCOM AG Foreign StockCH0008742519 SCMN SW 1.62
GIVAUDAN SA Foreign StockCH0010645932 GIVN SW 1.61
TELENOR ASA Foreign StockNO0010063308 TEL NO 1.49
BARRY CALLEBAUT AG Foreign StockCH0009002962 BARN SW 1.37
ADMIRAL GROUP PLC Foreign StockGB00B02J6398 ADM LN 1.36
SEVERN TRENT PLC Foreign StockGB00B1FH8J72 SVT LN 1.34
SWISS PRIME SITE AG Foreign StockCH0008038389 SPSN SW 1.31
GJENSIDIGE FORSIKRING ASA Foreign StockNO0010582521 GJF NO 1.30
AIR LIQUIDE SA Foreign StockFR0000120073 AI FP 1.28
NATIONAL GRID PLC Foreign StockGB00BDR05C01 NG/ LN 1.27
NOVARTIS AG Foreign StockCH0012005267 NOVN SW 1.27
ROCHE HOLDING AG Foreign StockCH0012032113 RO SW 1.24
SGS SA Foreign StockCH0002497458 SGSN SW 1.21
SEGRO PLC Foreign StockGB00B5ZN1N88 SGRO LN 1.20
KONE OYJ Foreign StockFI0009013403 KNEBV FH 1.20
EMS-CHEMIE HOLDING AG Foreign StockCH0016440353 EMSN SW 1.18
GLAXOSMITHKLINE PLC Foreign StockGB0009252882 GSK LN 1.18
ROCHE HOLDING AG Foreign StockCH0012032048 ROG SW 1.17
SCHINDLER HOLDING AG Foreign StockCH0024638212 SCHN SW 1.16
UNILEVER PLC Foreign StockGB00B10RZP78 ULVR LN 1.16
WOLTERS KLUWER NV Foreign StockNL0000395903 WKL NA 1.12
TESCO PLC Foreign StockGB00BLGZ9862 TSCO LN 1.11
RED ELECTRICA CORP SA Foreign StockES0173093024 REE SM 1.10
KONINKLIJKE AHOLD DELHAIZE NV Foreign StockNL0011794037 AD NA 1.10
DIAGEO PLC Foreign StockGB0002374006 DGE LN 1.09
SYMRISE AG Foreign StockDE000SYM9999 SY1 GR 1.09
HENKEL AG & CO KGAA Foreign StockDE0006048408 HEN GR 1.07
SANOFI Foreign StockFR0000120578 SAN FP 1.06
DANONE SA Foreign StockFR0000120644 BN FP 1.05
SCHINDLER HOLDING AG Foreign StockCH0024638196 SCHP SW 1.05
CRODA INTERNATIONAL PLC Foreign StockGB00BJFFLV09 CRDA LN 1.04
TELIA CO AB Foreign StockSE0000667925 TELIA SS 1.04
GEBERIT AG Foreign StockCH0030170408 GEBN SW 1.02
BEIERSDORF AG Foreign StockDE0005200000 BEI GR 1.01
E.ON SE Foreign StockDE000ENAG999 EOAN GR 1.00
TERNA - RETE ELETTRICA NAZIONA Foreign StockIT0003242622 TRN IM 0.99
RECKITT BENCKISER GROUP PLC Foreign StockGB00B24CGK77 RKT LN 0.99
UNITED UTILITIES GROUP PLC Foreign StockGB00B39J2M42 UU/ LN 0.99
TRYG A/S Foreign StockDK0060636678 TRYG DC 0.98
ESSITY AB Foreign StockSE0009922164 ESSITYB SS 0.98
INVESTOR AB Foreign StockSE0015811955 INVEA SS 0.97
KERRY GROUP PLC Foreign StockIE0004906560 KYGA ID 0.96
HENKEL AG & CO KGAA Preferred StockDE0006048432 HEN3 GR 0.96
CARLSBERG AS Foreign StockDK0010181759 CARLB DC 0.95
LOREAL SA Foreign StockFR0000120321 OR FP 0.92
UNIPER SE Foreign StockDE000UNSE018 UN01 GR 0.92
RECORDATI INDUSTRIA CHIMICA E Foreign StockIT0003828271 REC IM 0.92
LEG IMMOBILIEN SE Foreign StockDE000LEG1110 LEG GR 0.91
ELISA OYJ Foreign StockFI0009007884 ELISA FH 0.91
INVESTOR AB Foreign StockSE0015811963 INVEB SS 0.89
IBERDROLA SA Foreign StockES0144580Y14 IBE SM 0.89
DEUTSCHE TELEKOM AG Foreign StockDE0005557508 DTE GR 0.89
NATURGY ENERGY GROUP SA Foreign StockES0116870314 NTGY SM 0.88
SNAM SPA Foreign StockIT0003153415 SRG IM 0.87
KONINKLIJKE DSM NV Foreign StockNL0000009827 DSM NA 0.87
HERMES INTERNATIONAL Foreign StockFR0000052292 RMS FP 0.86
VIVENDI SE Foreign StockFR0000127771 VIV FP 0.86
KUEHNE + NAGEL INTERNATIONAL A Foreign StockCH0025238863 KNIN SW 0.85
YARA INTERNATIONAL ASA Foreign StockNO0010208051 YAR NO 0.84
SAGE GROUP PLC/THE Foreign StockGB00B8C3BL03 SGE LN 0.83
HEINEKEN HOLDING NV Foreign StockNL0000008977 HEIO NA 0.83
HEINEKEN NV Foreign StockNL0000009165 HEIA NA 0.83
INDUSTRIVARDEN AB Foreign StockSE0000107203 INDUC SS 0.83
ORANGE SA Foreign StockFR0000133308 ORA FP 0.82
GROUPE BRUXELLES LAMBERT SA Foreign StockBE0003797140 GBLB BB 0.82
DEUTSCHE BOERSE AG Foreign StockDE0005810055 DB1 GR 0.82
RELX PLC Foreign StockGB00B2B0DG97 REL LN 0.82
BUNZL PLC Foreign StockGB00B0744B38 BNZL LN 0.82
PERNOD RICARD SA Foreign StockFR0000120693 RI FP 0.81
INDUSTRIVARDEN AB Foreign StockSE0000190126 INDUA SS 0.81
EURONEXT NV Foreign StockNL0006294274 ENX FP 0.81
L E LUNDBERGFORETAGEN AB Foreign StockSE0000108847 LUNDB SS 0.81
VONOVIA SE Foreign StockDE000A1ML7J1 VNA GR 0.80
HSBC HOLDINGS PLC Foreign StockGB0005405286 HSBA LN 0.80
TELE2 AB Foreign StockSE0005190238 TEL2B SS 0.79
ZURICH INSURANCE GROUP AG Foreign StockCH0011075394 ZURN SW 0.78
SCOUT24 SE Foreign StockDE000A12DM80 G24 GR 0.78
NOVO NORDISK A/S Foreign StockDK0060534915 NOVOB DC 0.77
HALMA PLC Foreign StockGB0004052071 HLMA LN 0.77
ETABLISSEMENTS FRANZ COLRUYT N Foreign StockBE0974256852 COLR BB 0.76
ENAGAS SA Foreign StockES0130960018 ENG SM 0.76
INTERTEK GROUP PLC Foreign StockGB0031638363 ITRK LN 0.75
SPIRAX-SARCO ENGINEERING PLC Foreign StockGB00BWFGQN14 SPX LN 0.75
SIEMENS HEALTHINEERS AG Foreign StockDE000SHL1006 SHL GR 0.73
MERCK KGAA Foreign StockDE0006599905 MRK GR 0.73
BUREAU VERITAS SA Foreign StockFR0006174348 BVI FP 0.73
SOFINA SA Foreign StockBE0003717312 SOF BB 0.73
COLOPLAST A/S Foreign StockDK0060448595 COLOB DC 0.72
SIKA AG Foreign StockCH0418792922 SIKA SW 0.71
ENDESA SA Foreign StockES0130670112 ELE SM 0.71
LEGRAND SA Foreign StockFR0010307819 LR FP 0.70
EDP - ENERGIAS DE PORTUGAL SA Foreign StockPTEDP0AM0009 EDP PL 0.70
ASSA ABLOY AB Foreign StockSE0007100581 ASSAB SS 0.68
RENTOKIL INITIAL PLC Foreign StockGB00B082RF11 RTO LN 0.67
KONINKLIJKE PHILIPS NV Foreign StockNL0000009538 PHIA NA 0.59
SECURITAS AB Foreign StockSE0000163594 SECUB SS 0.55
IBERDROLA SA Foreign StockES06445809N8 IBE/D SM 0.01
BRITISH POUND Currency Security 0.03
DANISH KRONER Currency Security 0.00
EUROPEAN CURRENCY UNIT Currency Security 0.00
NORWEGIAN KRONE Currency Security 0.00
SWEDISH KRONA Currency Security 0.00
SWISS FRANC Currency Security 0.02
US DOLLAR Currency Security 0.00

As at: 20 January 2022
Holdings are subject to change

98.23%

Distributions

Distribution details (.csv)

Twelve month trailing distribution yield : 1.49% (as at 20 Jan 2022)

RWETotalCashReinvestedEligible dividendsNon eligible dividendsOther incomeCapital GainsReturn of capitalForeign IncomeForeign tax paid
SI$7.65440$4.31570$3.33870---$2.70309$0.12667$4.58808$0.55730
2021 +$0.79390$0.46830$0.32560-------
30-Dec$0.32560-$0.32560-------
23-Dec$0.12580$0.12580--------
23-Sep$0.11990$0.11990--------
24-Jun$0.11780$0.11780--------
25-Mar$0.10480$0.10480--------
2020 +$0.66040$0.66040-----$0.10448$0.65403$0.09811
23-Dec$0.17010$0.17010-----$0.02691$0.16846$0.02527
24-Sep$0.17010$0.17010-----$0.02691$0.16846$0.02527
24-Jun$0.17010$0.17010-----$0.02691$0.16846$0.02527
25-Mar$0.15010$0.15010-----$0.02375$0.14865$0.02230
2019 +$1.20860$0.57760$0.63100---$0.61214-$0.70172$0.10525
30-Dec$0.63100-$0.63100---$0.31960-$0.36636$0.05495
23-Dec$0.15010$0.15010----$0.07602-$0.08715$0.01307
24-Sep$0.14330$0.14330----$0.07258-$0.08320$0.01248
24-Jun$0.14330$0.14330----$0.07258-$0.08320$0.01248
25-Mar$0.14090$0.14090----$0.07136-$0.08181$0.01227
2018 +$0.95950$0.55850$0.40100---$0.31476-$0.75854$0.11377
28-Dec$0.40100-$0.40100---$0.13154-$0.31701$0.04755
21-Dec$0.14260$0.14260----$0.04678-$0.11273$0.01691
24-Sep$0.14110$0.14110----$0.04629-$0.11155$0.01673
25-Jun$0.14110$0.14110----$0.04629-$0.11155$0.01673
23-Mar$0.13370$0.13370----$0.04386-$0.10570$0.01585
2017 +$0.88990$0.49990$0.39000---$0.15887$0.00774$0.81100$0.08771
28-Dec$0.12630$0.12630----$0.02255$0.00110$0.11510$0.01245
28-Dec$0.39000-$0.39000---$0.06962$0.00339$0.35543$0.03844
28-Sep$0.12630$0.12630----$0.02255$0.00110$0.11510$0.01245
29-Jun$0.12440$0.12440----$0.02221$0.00108$0.11337$0.01226
30-Mar$0.12290$0.12290----$0.02194$0.00107$0.11200$0.01211
2016 +$1.59040$0.50260$1.08780---$0.75989-$0.92317$0.09266
29-Dec$1.08780-$1.08780---$0.51975-$0.63143$0.06338
29-Dec$0.12060$0.12060----$0.05762-$0.07000$0.00702
29-Sep$0.12300$0.12300----$0.05877-$0.07140$0.00717
29-Jun$0.12880$0.12880----$0.06154-$0.07476$0.00750
30-Mar$0.13020$0.13020----$0.06221-$0.07558$0.00759
2015 +$0.46940$0.46940-----$0.01318$0.49882$0.04260
30-Dec$0.12440$0.12440-----$0.00349$0.13220$0.01129
29-Sep$0.11810$0.11810-----$0.00332$0.12550$0.01072
29-Jun$0.11900$0.11900-----$0.00334$0.12646$0.01080
30-Mar$0.10790$0.10790-----$0.00303$0.11466$0.00979
2014 +$1.08230$0.57900$0.50330---$0.85743$0.00127$0.24080$0.01720
30-Dec$0.50330-$0.50330---$0.39873$0.00059$0.11198$0.00800
30-Dec$0.28500$0.28500----$0.22579$0.00033$0.06341$0.00453
29-Sep$0.11720$0.11720----$0.09284$0.00014$0.02608$0.00186
27-Jun$0.17680$0.17680----$0.14007$0.00021$0.03933$0.00281

(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, 2021 - 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 MSCI Europe Low Risk Weighted ETF (CAD Hedged) please click here

Insights