TORONTO, Oct. 4, 2023 /CNW/ – Evolve Funds Group Inc. (“Evolve” or the “Manager“) is pleased to announce that Evolve Enhanced Yield Bond Fund (“BOND“) and Evolve NASDAQ Technology Enhanced Yield Index Fund (“QQQY“, and together, the “Funds“) have closed an initial offering of units and will begin trading on the Toronto Stock Exchange (“TSX“) today under ticker symbols BOND and QQQY, respectively.
BOND will invest primarily in fixed income ETFs. Evolve has waived the management fee payable on the units of BOND from the date of the prospectus until March 31, 2024. BOND will provide investors with a low-cost fixed income solution that will seek to deliver attractive monthly income and long-term capital appreciation by utilizing an active covered call strategy.
QQQY seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of the Nasdaq-100 Technology Sector Adjusted Market-Cap Weighted™ Index, or any successor thereto (“the Index“). The Index consists of a selection of securities in the Nasdaq-100 Index® which must be classified as a “technology company” (i.e., any company classified under the “technology industry”) according to the Industry Classification Benchmark (ICB). QQQY will provide investors with access to the Index while seeking to deliver attractive monthly income and long-term capital appreciation by utilizing an active covered call strategy.
To enhance yield, as well as mitigate risk and reduce volatility, the Funds will employ a covered call option writing program at the discretion of the Manager. The level of covered call option writing may vary based on market volatility and other factors.
With over $7 billion in assets under management, Evolve is one of Canada’s fastest growing ETF providers since launching its first ETF in September 2017. Evolve is a leader in thematic ETFs and specializes in bringing innovative ETFs to Canadian investors. Evolve’s suite of ETFs provide investors with access to: (i) long term investment themes; (ii) index-based income strategies; and (iii) some of the world’s leading investment managers. Established by a team of industry veterans with a proven track record of success, Evolve creates investment products that make a difference. For more information, please visit www.evolveetfs.com.
1Target Yield calculated as the expected dividend amount, annualized and then divided by the current market price.
Commissions, trailing commissions, management fees and expenses all may be associated with exchange traded funds (ETFs) and mutual funds. Please read the prospectus before investing. There are risks involved with investing in ETFs and mutual funds. Please read the prospectus for a complete description of risks relevant to the ETF and mutual fund. Investors may incur customary brokerage commissions in buying or selling ETF and mutual fund units. Investors should monitor their holdings, as frequently as daily, to ensure that they remain consistent with their investment strategies.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to a future outlook and anticipated distributions, events or results and may include statements regarding future financial performance. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “anticipate”, “believe”, “intend” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Evolve undertakes no obligation to update publicly or otherwise revise any forward-looking statement whether as a result of new information, future events or other such factors which affect this information, except as required by law.
Nasdaq®, Nasdaq-100®, Nasdaq-100 Index®, Nasdaq-100 Technology Sector Adjusted Market-Cap Weighted™ Index are trademarks of Nasdaq, Inc. (which with its affiliates is referred to as the “Corporations”) and are licensed for use by Evolve ETFs. The Product(s) have not been passed on by the Corporations as to their legality or suitability. The Product(s) are not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT(S).
SOURCE Evolve ETFs
For further information: Evolve ETFs, email@example.com, t. 416.214.4884, tf. 1.844.370.4884; MEDIA CONTACT: Keith Crone, firstname.lastname@example.org, 416.966.8716