Evolve Funds Group Inc. has launched the following ETFs in Canada:

  • Evolve U.S. Banks Enhanced Yield ETF — seeks to replicate the performance of the Solactive Equal Weight U.S. Bank Index Canadian Dollar Hedged, while mitigating downside risk. The fund invests primarily in the index’s equity constituents, while writing covered call options on up to 33% of the portfolio securities, at the manager’s discretion.

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  • Evolve Active U.S. Core Equity ETF — seeks to provide long-term capital appreciation by investing primarily in U.S.-listed large-capitalization companies, using a selection process that combines quantitative techniques, fundamental analysis and risk management. Nuveen Asset Management acts as subadvisor.
  • Evolve Active Short Duration Bond ETF — seeks to provide a high level of income through monthly distributions. Under normal market conditions, the fund invests primarily in a diversified portfolio of below investment grade corporate debt securities rated BB+ or lower by Standard & Poor’s and Fitch Ratings, or Ba1 or lower by Moody’s. The portfolio generally has an average duration of less than three years. Nuveen Asset Management acts as subadvisor.

These ETFs have closed their initial offerings of hedged and unhedged units and trade today on the TSX.

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