Harvest Portfolios Group Inc. of Oakville, Ont. has increased its ETFs lineup to six with the listing of two additional products on the Toronto Stock Exchange.
The two new ETFs — Tech Achievers Growth & Income ETF, including a version denominated in U.S. dollars, and Global REIT Leaders Income ETF — offer monthly cash distributions as well as the opportunity for capital appreciation.
Tech Achievers Growth & Income ETF is a conversion from an existing Harvest closed-end fund while the U.S. version is an initial offering.
The conversion from a closed-end fund to an ETF will benefit existing unitholders because the ETF structure offers greater market liquidity and more efficient trading, Harvest says in a news release.
Both ETFs will participate in the writing of covered-call options on up to 33% of the portfolio’s securities to achieve lower volatility of returns and augment income.
Harvest launched its first ETFs in October 2016 and has attracted $350 million in assets under management to its ETF family. Its ETF lineup includes Brand Leaders Plus Income, Energy Leaders Plus Income, Healthcare Leaders Income and U.S. Equity Plus Income as well as the new funds.
Photo copyright: melpomen/123RF