Toronto-based Evolve Funds Group Inc. has launched four ETFs. Evolve Global Healthcare Enhanced Yield ETF seeks to replicate the performance of the Solactive global health care 20 index (Canadian dollar hedged) and invests primarily in the equities constituents of that index; this ETF’s portfolio manager has the discretion to write covered-call options on up to 33% of the portfolio’s securities. Evolve U.S. Banks Enhanced Yield ETF is designed to replicate the performance of the Solactive equal-weight U.S. bank index (Canadian dollar hedged); this ETF’s portfolio manager has the ability to write covered-call options on up to 33% of the portfolio’s securities. Evolve Active U.S. Core Equity ETF invests primarily in equities of U.S.-listed, large-cap companies, which are selected using a combination of quantitative techniques, fundamental analysis and risk management. As for Evolve Active Short Duration Bond ETF, during normal market conditions that portfolio is invested primarily in below investment-grade corporate debt securities rated BB+/Ba1 or lower by credit-rating agencies. This ETF’s portfolio will generally have an average duration of less than three years. Chicago-based Nuveen Asset Management LLC will act as subadvisor for both Evolve Active U.S. Core Equity ETF and Evolve Active Short Duration Bond ETF.
© 2017 Investment Executive. All rights reserved.