TSX UTES

Evolve Canadian Utilities Enhanced Yield Index Fund

Looking for higher yield from Canadian utilities?

This ETF provides investors with an enhanced yield from exposure to Canada’s top 10 utility companies through an active covered call strategy and 25% maximum leverage. UTES invests in the essentials of our daily life, while helping investors position themselves defensively for the current stage of the rate cycle.

UTES

Evolve Canadian Utilities Enhanced Yield Index Fund

TICKER
UTES
MUTUAL FUND
FUNDSERV CODE(S):
EVF240
EVF241
NAV

as at February 14, 2025

$9.14 (UTES)
$9.24 (EVF241)
$9.27 (EVF240)
NAV CHANGE

as at February 14, 2025

-1.07 (UTES)
-1.07 (EVF241)
-1.07 (EVF240)
MARKET PRICE

(as at February 14, 2025 at 5:00pm)

UTES
STYLE
Index-based with active covered call strategy and 25 leverage
Number Of Holdings
10
AUM
$93.161 M
INDEX REBALANCING

 

Quarterly (UTES)
Quarterly (UTES.A)
Quarterly (UTES.F)

Who Should Consider this Fund?

Investors:
  • Seeking regular dividend income with long-term capital appreciation
  • Willing to take the risk associated with a levered exposure (up to 125%) to Canadian utilities, pipelines and telecommunication securities
  • Seeking increased yield from a covered call strategy

Performance

Performance is not available as the fund has not completed one full year of performance.

Fund Details

CUSIP 30054A109 TICKER UTES LISTING EXCHANGE Toronto Stock Exchange (TSX)
INCEPTION DATE September 3, 2024 (UTES)October 11, 2024 (EVF241)October 11, 2024 (EVF240) CURRENCY CAD REGISTERED INVESTMENT ELIGIBILITY Yes
STYLE Index-based with active covered call strategy and 25 leverage INDEX Solactive Canada Utility Index INDEX PROVIDER Solactive AG
INDEX RE-BALANCING FREQUENCY Quarterly MANAGEMENT FEE 0.60 (plus applicable sales taxes) (UTES)1.60 (plus applicable sales taxes) (EVF241)0.60 (plus applicable sales taxes) (EVF240) DISTRIBUTION FREQUENCY Monthly
FUNDSERV CODE EVF241EVF240

Top 10 Holdings

As at Feb 14, 2025

1 2

Geographic Allocation

As at Feb 14, 2025

1 2

Name

Weight

Sector Allocation

As at Feb 14, 2025

1 2

Name

Weight


Evolve ETFs
Scotia Plaza, 40 King Street West, Suite 3404, Toronto ON M5H 3Y2
416.214.4884 | 1.844.370.4884 | evolveetfs.com
as at February 14, 2025 Document created February 17, 2025, 6:04 PM EST

ETF Series

Mutual Fund Series

(as at February 14, 2025)

Ticker

 

UTES

See More Details
Nav Net Asset Value per unit, calulated daily

as at February 14, 2025

$9.14

See More Details
Nav Change The daily change in the net asset value (NAV) of a fund, reflecting the difference in the fund’s value from one trading day to the next.

as at February 14, 2025

-1.07%

Last Distribution Per Unit The most recent payout amount distributed to investors per unit held. Distributions are subject to change. For a complete list of historical distributions, please see the Distributions tab below.

As at December 31, 2024

$0.13800

Style

 

Index-based with active covered call strategy and 25% leverage

See More Details
Number Of Holdings

 

10

See More Details
Fund Total
Net Assets The value of all assets, minus the value of all liabilities, at a particular point in time. Includes all fund classes of this ETF.

 

$93.161 M

INDEX REBALANCING The rate at which a portfolio is adjusted to maintain its target asset allocation.

 

Quarterly

Overview

Portfolio

Performance

Distributions

Documents

Overview

Investment Objective

The investment objective of the Evolve Fund is to replicate, to the extent reasonably possible before fees and expenses, up to a 1.25 times multiple of the performance of the Solactive Canada Utility Index, or any successor thereto, while mitigating downside risk. The Evolve Fund invests primarily in the equity constituents of the Index. To enhance yield, as well as to mitigate risk and reduce volatility, the Evolve Fund 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.

Fund Details

CUSIP A unique nine-character code identifying financial securities

30054A109

TICKER

UTES

LISTING EXCHANGE

Toronto Stock Exchange (TSX)

INCEPTION DATE

September 3, 2024

CURRENCY The currency a fund is denominated in or hedged against, such as CAD or USD. It may be "hedged" to protect against currency fluctuations or "unhedged" to expose the fund to currency risk.

CAD

REGISTERED INVESTMENT ELIGIBILITY

Yes

STYLE

Index-based with active covered call strategy and 25% leverage

INDEX PROVIDER

Solactive AG

INDEX RE-BALANCING FREQUENCY The rate at which an index is adjusted to maintain its target asset allocation.

Quarterly

MANAGEMENT FEE The annual fee payable by the fund and/or any underlying Evolve ETFs to Evolve ETFs and/or its affiliates for acting as trustee and/or manager.

0.60% (plus applicable sales taxes)

DISTRIBUTION FREQUENCY

Monthly

FUNDSERV CODE

EVF241

INCEPTION DATE

October 11, 2024

REGISTERED INVESTMENT ELIGIBILITY

Yes

CURRENCY The currency a fund is denominated in or hedged against, such as CAD or USD. It may be "hedged" to protect against currency fluctuations or "unhedged" to expose the fund to currency risk.

CAD

STYLE

Index-based with active covered call strategy and 25% leverage

INDEX PROVIDER

Solactive AG

INDEX RE-BALANCING FREQUENCY The rate at which an index is adjusted to maintain its target asset allocation.

Quarterly

MANAGEMENT FEE The annual fee payable by the fund and/or any underlying Evolve ETFs to Evolve ETFs and/or its affiliates for acting as trustee and/or manager.

1.60% (plus applicable sales taxes)

DISTRIBUTION FREQUENCY

Monthly

FUNDSERV CODE

EVF240

INCEPTION DATE

October 11, 2024

REGISTERED INVESTMENT ELIGIBILITY

Yes

CURRENCY The currency a fund is denominated in or hedged against, such as CAD or USD. It may be "hedged" to protect against currency fluctuations or "unhedged" to expose the fund to currency risk.

CAD

STYLE

Index-based with active covered call strategy and 25% leverage

INDEX PROVIDER

Solactive AG

INDEX RE-BALANCING FREQUENCY The rate at which an index is adjusted to maintain its target asset allocation.

Quarterly

MANAGEMENT FEE The annual fee payable by the fund and/or any underlying Evolve ETFs to Evolve ETFs and/or its affiliates for acting as trustee and/or manager.

0.60% (plus applicable sales taxes)

DISTRIBUTION FREQUENCY

Monthly

?

Who Should Consider
this Fund?

Investors:

  • Seeking regular dividend income with long-term capital appreciation
  • Willing to take the risk associated with a levered exposure (up to 125%) to Canadian utilities, pipelines and telecommunication securities
  • Seeking increased yield from a covered call strategy

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. ETFs and mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

Leverage increases risk.

Investors should monitor their holdings, as frequently as daily, to ensure that they remain consistent with their investment strategies.

Ernst & Young LLP is the auditor of the Canadian Reporting Issuer investment funds managed by Evolve Funds Group Inc. (the “Funds”). Ernst & Young LLP is independent with respect to the Funds in the context of the CPA Code of Professional Conduct of the Chartered Professional Accountants of Ontario. For the year ended December 31, 2024, fees paid or payable to Ernst & Young LLP and its network firms for audit services to the Funds were $469,500. Fees for other services were $31,924.

Portfolio

Geographic Allocation

As at February 14, 2025

Name

Weight

Sector Allocation

As at February 14, 2025

Name

Weight


Holdings

As at February 14, 2025

Download XLS

Holdings

Performance

Performance is not available as the fund has not completed one full year of performance.

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. ETFs and mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

Leverage increases risk.

Investors should monitor their holdings, as frequently as daily, to ensure that they remain consistent with their investment strategies.

Ernst & Young LLP is the auditor of the Canadian Reporting Issuer investment funds managed by Evolve Funds Group Inc. (the “Funds”). Ernst & Young LLP is independent with respect to the Funds in the context of the CPA Code of Professional Conduct of the Chartered Professional Accountants of Ontario. For the year ended December 31, 2024, fees paid or payable to Ernst & Young LLP and its network firms for audit services to the Funds were $469,500. Fees for other services were $31,924.

Distributions

Distributions

LAST DISTRIBUTION PER UNIT:

$0.13800

DISTRIBUTION FREQUENCY:

Monthly

EX-DIVIDEND DATE:

January 31, 2025

RECORD DATE:

January 31, 2025

PAYMENT DATE:

February 7, 2025

Downloads
Ex-Dividend Date:Record Date:Payment Date:Payment Amount:Distribution Frequency:
01/31/2501/31/2502/07/25$0.13800Monthly
02/28/2502/28/2503/07/25-Monthly
03/31/2503/31/2504/07/25-Monthly
04/30/2504/30/2505/07/25-Monthly
05/30/2505/30/2506/06/25-Monthly
06/30/2506/30/2507/08/25-Monthly
07/31/2507/31/2508/08/25-Monthly
08/29/2508/29/2509/08/25-Monthly
09/29/2509/29/2510/08/25-Monthly
10/31/2510/31/2511/08/25-Monthly
11/28/2511/28/2512/05/25-Monthly
12/30/2512/30/2501/08/26-Monthly
Ex-Dividend Date:Record Date:Payment Date:Payment Amount:Distribution Frequency:
09/27/2409/27/2410/04/24$0.13800Monthly
10/31/2410/31/2411/07/24$0.13800Monthly
11/29/2411/29/2412/06/24$0.13800Monthly
12/31/2412/31/2401/08/25$0.13800Monthly

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. ETFs and mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

Leverage increases risk.

Investors should monitor their holdings, as frequently as daily, to ensure that they remain consistent with their investment strategies.

Ernst & Young LLP is the auditor of the Canadian Reporting Issuer investment funds managed by Evolve Funds Group Inc. (the “Funds”). Ernst & Young LLP is independent with respect to the Funds in the context of the CPA Code of Professional Conduct of the Chartered Professional Accountants of Ontario. For the year ended December 31, 2023, fees paid or payable to Ernst & Young LLP and its network firms for audit services to the Funds were $454,400. Fees for other services were $25,250.

Documents