A covered call ETF holds a portfolio of stocks and sells call options against those holdings to earn extra income from the option premiums. This generates higher monthly cash flow and helps cushion against modest market declines, but may limit how much you can gain when markets rise sharply.
Evolve offers a suite of covered call ETFs spanning sector-specific exposures to broad market strategies, giving investors flexible ways to add enhanced income to their portfolio.
Leverage in an ETF means the fund uses borrowed money or derivatives to increase its exposure to the underlying holdings, aiming to deliver a multiple of the index or asset return, such as 1.25x or 2x. Leverage can amplify both gains and losses, making leveraged ETFs higher-risk than standard ETFs.1
Evolve offers a suite of modestly leveraged ETFs across sectors and asset classes, designed to enhance return and income potential while keeping risk lower than typical 2x or 3x leveraged products.
Ten Evolve ETFs use leverage: three Enhanced Yield+ ETFs at 1.25x, five UltraYield ETFs at 1.33x, and two levered cryptocurrency ETFs at 1.25x.1 All other Evolve ETFs are unleveraged.
Enhanced Yield+ ETFs (1.25x leverage with a covered call strategy on up to 33% of the portfolio):
- BANK: Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund
- UTES: Evolve Canadian Utilities Enhanced Yield Index Fund
- OILY: Evolve Canadian Energy Enhanced Yield Index Fund
UltraYield ETFs (1.33x leverage with a covered call strategy on approximately 50% of the portfolio, distributions twice per month):
- BIGY: Evolve US Equity UltraYield ETF
- CANY: Evolve Canadian Equity UltraYield ETF
- INTY: Evolve International Equity UltraYield ETF
- SIXY: Evolve Big Six Canadian Banks UltraYield Index ETF
- EASY: Evolve All-in-One UltraYield ETF (initially invests in BIGY, CANY, and INTY)
Levered cryptocurrency ETFs (1.25x leverage):
The remaining Evolve ETFs do not use leverage. Each fund’s prospectus describes how leverage is implemented and the associated risks.
Most of Evolve’s cryptocurrency ETFs hold actual Bitcoin, Ether, Solana, or XRP in cold storage with an institutional custodian, giving investors direct exposure to digital asset prices through a regulated, exchange-traded structure. Some funds, specifically the Evolve Cryptocurrencies ETF (ETC), the Evolve Levered Bitcoin ETF (LBIT), and the Evolve Levered Ether ETF (LETH), are structured as funds of funds and do not hold the underlying crypto directly. There’s no need for a crypto wallet, exchange account, or private keys. You buy and sell units like any other ETF on a Canadian stock exchange.
Evolve offers seven cryptocurrency ETFs spanning single-asset spot exposure, basket exposure, and levered exposure:
- EBIT: Evolve Bitcoin ETF (spot bitcoin)
- ETHR: Evolve Ether ETF (spot ether)
- SOLA: Evolve Solana ETF (spot solana)
- XRP: Evolve XRP ETF (spot XRP)
- ETC: Evolve Cryptocurrencies ETF (market-cap-weighted basket of bitcoin, ether, solana, and XRP) (fund of funds, does not hold cryptocurrencies directly)
- LBIT: Evolve Levered Bitcoin ETF (levered bitcoin exposure) (fund of funds, does not hold bitcoin directly)
- LETH: Evolve Levered Ether ETF (levered ether exposure) (fund of funds, does not hold ether directly)
All seven funds trade on the Toronto Stock Exchange and are eligible for registered accounts including TFSAs, RRSPs, RESPs, and FHSAs.
Yes. Canadian-listed cryptocurrency ETFs are eligible for registered accounts including TFSAs, RRSPs, RESPs, and FHSAs. This allows investors to gain exposure to Bitcoin, Ether, Solana, or XRP while sheltering gains from tax in a TFSA, or deferring tax in an RRSP, something not possible with crypto held directly on an exchange.
Evolve offers four cash management ETFs across Canadian and US dollar mandates, designed to help investors earn competitive monthly income on idle cash while maintaining daily liquidity inside their brokerage account. The lineup spans both high-interest savings accounts and money market instruments:
- HISA: High Interest Savings Account Fund (invests in high-interest deposit accounts at Canadian banks; CAD, monthly distributions)
- MCAD: Premium Cash Management Fund (invests in Canadian-dollar money market instruments; CAD, monthly distributions)
- HISU.U: US High Interest Savings Account Fund (invests in US-dollar high-interest deposit accounts; USD, monthly distributions)
- MUSD.U: US Premium Cash Management Fund (invests in US-dollar money market instruments; USD, monthly distributions)
Each fund’s current yield, holdings, and historical distributions are published on its individual fund page.
A HISA (high interest savings account) ETF holds cash deposits at major Canadian banks and pays out the interest earned as monthly distributions, while trading on a stock exchange like any other ETF. Compared to a traditional savings account, HISA ETFs typically offer higher yields, daily liquidity, and the convenience of holding cash directly inside your brokerage account.
Evolve offers both a Canadian dollar and US dollar HISA ETF, giving investors a simple way to earn interest on idle cash in either currency without leaving their brokerage account.
Yes. Evolve offers six fixed income ETFs spanning actively managed and enhanced yield (covered call) strategies, giving investors a range of ways to add fixed income to their portfolios:
- FIXD: Evolve Active Core Fixed Income Fund (actively managed, sub-advised by Addenda Capital)
- EARN: Evolve Active Global Fixed Income Fund (actively managed, sub-advised by Allianz Global Investors)
- DIVS: Evolve Active Canadian Preferred Share Fund (actively managed Canadian preferred shares, sub-advised by Addenda Capital)
- BOND: Evolve Enhanced Yield Bond Fund (long-duration fixed income with a covered call overlay)
- AGG: Evolve Canadian Aggregate Bond Enhanced Yield Fund (Canadian aggregate bonds with a covered call overlay)
- MIDB: Evolve Enhanced Yield Mid Term Bond Fund (medium-duration fixed income with a covered call overlay)
Each fund’s mandate, sub-advisor (where applicable), and fees are published on its individual fund page.
A thematic ETF invests in companies tied to a specific long-term trend like artificial intelligence, cybersecurity, cloud computing, or healthcare innovation, rather than tracking a broad market index. Thematic ETFs offer targeted exposure to structural growth stories, but tend to be more concentrated than diversified core holdings.
Evolve offers a range of thematic ETFs covering artificial intelligence, cybersecurity, e-gaming, automotive innovation, and other disruptive trends.
A currency-hedged ETF uses forward contracts to neutralize the impact of exchange rate movements on its foreign holdings. This means returns reflect the performance of the underlying securities only, not currency fluctuations. Hedged units suit investors who want pure asset exposure without taking on currency risk.
Disclaimers
Published June 11, 2026.
Evolve Funds Group Inc. is the investment fund manager and portfolio manager. All funds described herein is offered by Evolve Funds Group Inc., and distributed through authorized dealers.
The information contained herein is a general description and is not intended to be specific investment advice to any particular investor nor intended to be investment or tax advice. You should not act or rely on the information contained herein without seeking the advice of an appropriate professional advisor. The information contained herein is intended for informational purposes as a summary only, does not constitute an offer to sell any securities or a legally binding obligation, it is qualified entirely by, and should be read in conjunction with, the more detailed information appearing in the prospectuses found on the Evolve Funds Group Inc website at https://evolveetfs.com/
1 Leverage increases risk.
The unpredictable nature of the cryptoassets can lead to loss of funds.
Commissions, trailing commissions, management fees and expenses all may be associated with exchange traded funds (ETFs) and mutual fund investments. Please read the prospectus before investing. ETFs and mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances that the fund will be able to maintain its net asset value per security at a constant amount or that the full amount of the investment in the fund will be returned. Past performance may not be repeated.
Certain statements contained herein are forward-looking. Forward-looking statements (“FLS”) are statements that are predictive in nature, depend upon or refer to future events or conditions, or that include words such as “may,” “will,” “should,” “could,” “expect,” “anticipate,” “intend,” “plan,” “believe,” or “estimate,” or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. FLS are not guarantees of future performance and are by their nature based on numerous assumptions. Although the FLS contained herein are based upon what Evolve Funds Group Inc. and the portfolio manager believe to be reasonable assumptions, neither Evolve Funds Group Inc. nor the portfolio manager can assure that actual results will be consistent with these FLS. The reader is cautioned to consider the FLS carefully and not to place undue reliance on FLS. Unless required by applicable law, it is not undertaken, and specifically disclaimed that there is any intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise.
