First Asset U.S. & Canada Lifeco Income ETF

Investment Objectives

First Asset U.S. & Canada Lifeco Income ETF (the "Fund") 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.

The Manager believes that the portfolio securities of the Fund are attractive long term investments, but that they may exhibit significant price volatility for the foreseeable future. Accordingly, the Manager believes that an investment strategy which incorporates selling call options to capitalize on this volatility while retaining all the upside on a significant portion of the Fund's portfolio is an attractive risk adjusted way to own a portfolio of such securities.

FLI -1.03%1.45%5.66%-1.03%10.19%20.31%13.38%12.19%13.80%
As at: 31 Jan 2018 - Benchmark: S&P 500 Index (Total Return)


Sector Breakdown*

As at 31 January 2018
*As a percent of invested assets

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 Fund 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 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.

Key Facts

Fund Characteristics

Gross Option Premium*3.39%
Current Dividend Yield12.59%
Price/Earnings Ratio13.20
Price/Book Ratio1.34
As at 31 Jan, 2018
* Gross Option Premiums represent those received on 19 Jan, 2018
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)1.21
ROA % (TTM) (Long)1.00
ROE % (TTM) (Long)10.16
As at 31 Jan, 2018


Distribution details (.csv)

Twelve month-trailing distribution yield: 5.22%

FLITotalCashReinvestedEligible dividendsNon eligible dividendsOther incomeCapital GainsReturn of capitalForeign IncomeForeign tax paid
2017 +$1.12600$0.67600$0.45000$0.01033--$1.10848$0.00719--
2016 +$0.71960$0.71960----$0.69284$0.02676--
2015 +$0.57820$0.57820----$0.47123$0.10697--
2014 +$0.50770$0.50770----$0.11326$0.39444--
2013 +$0.23500$0.23500-----$0.23500--


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21 Jul 2015 Stripping away preconceived notions of fixed income Financial Post | John Pagliacci
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13 May 2014 Behind the Scenes with Smart Beta
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19 Mar 2014 First Asset ETFs March Distributions Marketwired
14 Mar 2014 Understanding factor-indexed ETFs ADVISOR.CA
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13 Sep 2013 Don't buy exchange-traded funds blindly Richmond News


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To access the SEDAR filings of First Asset U.S. & Canada Lifeco Income ETF please click here