CI Canadian Banks Covered Call Income Class ETF
TSX TICKER : CICFund overview
The Fund's investment objectives are to provide Shareholders with (i) quarterly distributions; (ii) the opportunity for capital appreciation; and (iii) lower overall volatility of portfolio returns than would be experienced by owning a portfolio of common shares of the following banks directly: Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, The Bank of Nova Scotia and The Toronto-Dominion Bank. As part of its investment strategy, each month, the Fund sells call options on approximately, and not more than, 25% of the common shares of each bank held in the portfolio.
Fund details
| Inception date | August 2010 |
|
Total net assets ($CAD)
As at 2024-12-02
|
$218.0 million |
|
NAVPS
As at 2024-12-02 |
$12.2724 |
|
Market price
As at 2024-12-02 |
$12.2700 |
|
MER (%)
As at 2024-06-30 |
0.81 |
| Management fee (%) | 0.65 |
|
Units outstanding
As at 2024-12-02 |
17,771,193 |
| Asset class | Sector Equity |
| Currency | CAD |
| CUSIP | 17163X401 |
| Distribution frequency | Monthly |
| Last distribution | $0.0603 |
Risk rating1
- Low
- Low to medium
- Medium
- Medium to high
- High
Investor suitability
| For those who: | ||
|---|---|---|
Performance2 As at 2024-11-30
Growth of $10,000 (Since inception date)
Calendar year performance
average annual compound returns
| YTD | 1 Mo | 3 Mo | 6 Mo | 1 Y | 3 Y | 5 Y | 10 Y | Inception* |
|---|---|---|---|---|---|---|---|---|
| 16.26% | 0.42% | 9.10% | 14.55% | 36.02% | 4.26% | 8.40% | 7.56% | 8.91% |
Distribution history3
| Ex-Date | Total |
|---|---|
| 2024-11-25 | 0.0603 |
| 2024-10-25 | 0.0713 |
| 2024-09-23 | 0.1876 |
| 2024-06-24 | 0.2095 |
| 2024-03-21 | 0.1989 |
| Ex-Date | Total |
|---|---|
| 2023-12-20 | 0.1939 |
| 2023-09-22 | 0.1696 |
| 2023-06-23 | 0.2270 |
| 2023-03-24 | 0.2000 |
| 2022-12-21 | 0.2493 |
Management team
|
CI Global Asset Management ETF
|
Note: This page is not complete without disclaimers on the next page.
CI Canadian Banks Covered Call Income Class ETF
TSX TICKER : CIC- Canadian Equity 99.28
- Cash and Equivalents 0.72
- Financial Services 99.45
- Cash and Cash Equivalent 0.72
- Other -0.17
- Canada 100.17
- Other -0.17
|
Top holdings
|
Sector | (%) |
|---|---|---|
| 1. Bank of Montreal | Banking | 17.34% |
| 2. National Bank of Canada | Banking | 17.31% |
| 3. Canadian Imperial Bank of Commerce | Banking | 17.24% |
| 4. Royal Bank of Canada | Banking | 16.76% |
| 5. Bank of Nova Scotia | Banking | 16.27% |
| 6. Toronto-Dominion Bank | Banking | 14.53% |
| 7. ROYAL BANK OF CANADA a | Other | -0.01% |
| 8. BANK OF NOVA SCOTIA /The | Other | -0.01% |
| 9. Bank of Montreal | Other | -0.02% |
| 10. TORONTO DOMINION BANK COM k/The | Other | -0.02% |
| 11. CANADIAN IMPERIAL BK OF COM nk of Commerce | Other | -0.04% |
| 12. NATIONAL BANK OF CANADA nada | Other | -0.07% |
Note: This page is not complete without disclaimers on the next page.
1 The risk level of a fund has been determined in accordance with a standardized risk classification methodology in National Instrument 81-102, that is based on the fund’s historical volatility as measured by the 10-year standard deviation of the fund’s returns. Where a fund has offered securities to the public for less than 10 years, the standardized methodology requires that the standard deviation of a reference mutual fund or index that reasonably approximates the fund’s standard deviation be used to determine the fund’s risk rating. Please note that historical performance may not be indicative of future returns and a fund’s historical volatility may not be indicative of future volatility.
2 Commissions, management fees and expenses all may be associated with an investment in exchange-traded funds (ETFs). You will usually pay brokerage fees to your dealer if you purchase or sell units of an ETF on recognized Canadian exchanges. If the units are purchased or sold on these Canadian exchanges, investors may pay more than the current net asset value when buying units of the ETF and may receive less than the current net asset value when selling them. Please read the prospectus before investing. Important information about an exchange-traded fund is contained in its prospectus. The indicated rates of return are the historical annual compounded total returns net of fees and expenses payable by the fund (except for figures of one year or less, which are simple total returns) including changes in security value and reinvestment of all dividends/distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. ETFs are not guaranteed; their values change frequently, and past performance may not be repeated.
3 Please refer to the fund’s simplified prospectus for distribution information.
4 Portfolio allocations will fluctuate over the life of the ETF as the portfolio holdings and market value of each security changes. The portfolio manager(s) may change the portfolio allocations in some or all of the sectors.
The contents are not to be used or construed as investment advice or as an endorsement or recommendation of any entity of security discussed.
Certain statements contained in this communication are based in whole or in part on information provided by third parties and CI has taken reasonable steps to ensure their accuracy.
The rates of return are used only to illustrate the effects of the compound growth rate and are not intended to reflect future values or returns on investment in an investment fund.
The “Growth of $10,000 invested” chart shows the final value of a hypothetical $10,000 investment in securities in this class/series of the fund as at the end of the investment period indicated and is not intended to reflect future values or returns on investment in such securities.
Management Expense Ratio (“MER”) represents the trailing 12-month management expense ratio, which reflects the cost of running the fund, inclusive of applicable taxes including HST, GST and QST (excluding commissions and other portfolio transaction costs) as a percentage of daily average net asset value the period, including the fund’s proportionate share of any underlying fund(s) expenses, if applicable. The MER is reported in each fund’s Management Report of Fund Performance (“MRFP”). MRFPs can be found within the Documents tab on ci.com.
CI Canadian Banks Income Class ETF (CIC) was originally launched as a TSX-listed closed-end fund on August 18, 2010, and converted into an exchange traded fund on September 24, 2015. Performance shown is since inception of the closed-end fund. In connection with the conversion, and pursuant to unitholder approval, the annual management fee payable by the Fund to CI Investments Inc., as manager, was reduced to 0.65% (from 1.05%) of the NAV per unit. Had these changes been in effect prior to this date the performance of the Fund could have been different.
The CI Exchange-Traded Funds (ETFs) are managed by CI Global Asset Management, a subsidiary of CI Financial Corp. (TSX: CIX). CI Global Asset Management is a registered business name of CI Investments Inc.
© CI Investments Inc. 2024. All rights reserved.