EU flags waving in front of European Parliament building. Brussels, Belgium

Oakville, Ont.-based Harvest Portfolios Group Inc. has announced the completion of the initial offering of A-class units of Harvest European Leaders Income ETF.

The ETF began trading on the Toronto Stock Exchange on Tuesday.

Harvest European Leaders Income ETF aims to provides unitholders with monthly cash distributions, the opportunity for capital appreciation and lower overall volatility of portfolio returns.

The ETF will write covered call options on up to 33% of the portfolio securities in order to achieve less volatility. The level of covered call option writing may vary based on market volatility and other factors.

“Europe houses some of the most established and innovative business in the world,” says Michal Kovacs, president and CEO of Harvest Portfolios Group, in a statement. “It was only logical for Harvest to add an ETF of true business leaders to our lineup of Equity Income ETFs.”