- Actively-managed portfolio of global banks in ~15 countries
- 21.7% outperformance vs. Global Banks Index (CAD) with lower drawdowns since inception
- Annualized return of ~18% (since inception)
- Consensus portfolio-weighted EPS growth of 19.6% (2018E); 17.0% (2019E)
- Dividend yield of 1.77% (quarterly distributions)
- Only 9 down months vs. 11 for Cdn banks, 12 for U.S. banks
- Managed by portfolio management team with over 60 years’ experience
- Scroll down for HBG Manager Commentary
- Similar portfolio beta to the North American banks
- Favourable valuation and positive growth trends in consensus EPS growth and dividends
- Lower concentrations/correlations
- Diversified by position and geography
|Performance||1 Mo||3 Mo||6 Mo||YTD||1 Yr||SI1|
|Hamilton Capital Global Bank ETF||(0.6%)||(1.4%)||2.6%||2.9%||10.9%||17.9%|
1. Performance is annualized since inception on January 22, 2016, as at May 31, 2018.
2. KBW Global Banks Index (GBKXN) translated to CAD.
HBG Manager Commentary
Notes from Texas: Lone Star Shines Brighter (June 21, 2018)
Notes from Spain: Improving Backdrop for the Banking Sector (May 28, 2018)
HBG: U.S. Banks: Wells Fargo and “Invisible” Bank Taxes (Feb 6, 2018)
HBG: U.S. Bank Mergers in Two Charts (Dec 4, 2017)
HBG: Notes from the Field: Everything’s Peachy in Atlanta (June 13, 2017)+ More commentary
Reducing European Exposure on Italian Referendum Uncertainty (Nov 22, 2016)
HBG Historical NAV
The chart of Historical NAV does not represent performance of HBG. The chart shows the daily movements of the NAV and has been adjusted to reflect historical distributions.
Top 10 Holdings3
|1||SIVB||SVB Financial Group (CA)||United States||3.5%|
|2||HDB||HDFC Bank Ltd||India||3.4%|
|3||STL||Sterling Bancorp (NY)||United States||3.0%|
|4||FNB||F.N.B. Corporation (PA)||United States||2.8%|
|5||IBKC||Iberiabank Corp (LA)||United States||2.6%|
|6||FHN||First Horizon National (TN)||United States||2.6%|
|7||CSGN||Credit Suisse Group||Switzerland||2.6%|
|8||WAL||Western Alliance Bancorp (AZ)||United States||2.5%|
|9||HOMB||Home BancShares (AR)||United States||2.2%|
|10||PACW||PacWest Bancorp (CA)||United States||2.1%|
3. As at May 31, 2018, as a percent of net asset value.
The investment objective of Hamilton Capital Global Bank ETF (“HBG”) is to seek long-term total returns consisting of long-term capital appreciation and regular dividend income from an actively managed portfolio comprised primarily of equity securities of banks and other deposit-taking institutions located anywhere around the globe.
HBG will seek to achieve its investment objective by investing in a portfolio of equity securities across the global banking sector. By investing worldwide, the Portfolio Adviser aims to take advantage of the most attractive opportunities in global banking, while reducing country-specific and concentration risks. The ETF’s portfolio is anticipated to include approximately 40-60 banks and other deposit-taking institutions, from over 10 countries, with a geographic split of roughly 50% U.S./Canada, 25% Europe and 25% other countries. However, the number of positions and percentages by region may vary based on the Portfolio Adviser’s assessment of the most attractive risk/reward opportunities. For certain markets, investments will be made predominantly in American Deposit Receipts (“ADRs”). HBG’s investments may be selected from any country, subsector or capitalization level of the global banking sector. The Portfolio Adviser may, at its discretion, hedge some or all of the ETF’s non-Canadian dollar currency exposure.
The Portfolio Adviser’s investment strategies will consider both top-down themes as well as bottom-up analysis. Top-down themes may include, but are not limited to, favourable gross domestic product (“GDP”) growth, inflation and interest rate trends, fiscal and monetary policies, and regulatory trends. The Portfolio Adviser’s bottom-up investment process is primarily based on fundamental research, as well as quantitative and technical factors. Investment decisions are ultimately based on an understanding of a company, its business, and its expected outlook, including earnings growth, asset quality, capital and reserves, as well as business mix and dividend policy. The Portfolio Adviser will monitor and review HBG’s investments on an ongoing basis to try to ensure the best relative values are identified.
|Ex-Dividend Date||Record Date||Payment Date||Payment Amount||Type||Distribution Frequency|
The estimated annualized yield is 1.31%*. Please review the documents below for further details.
* Calculated using the June 18, 2018 net asset value per unit.
2018-03-20 Hamilton Capital Announces March 2018 Distributions (CNW)
2017-12-19 Hamilton Capital Announces December 2017 Distributions (CNW)
2017-09-20 Hamilton Capital Announces September 2017 Distributions (CNW)
2017-06-21 Hamilton Capital Announces HBG, HFY June 2017 Distributions (CNW)
2017-03-22 Hamilton Capital Announces HBG, HFY March 2017 Distributions (CNW)
2016-12-19 Hamilton Capital Announces HBG December 2016 Distribution (CNW)
2016-12-13 Howard J. Atkinson Joins Board of Hamilton Capital (CNW)
2016-09-21 Hamilton Capital Announces HBG September 2016 Distribution (CNW)
2016-06-21 Hamilton Capital Announces HBG June 2016 Distribution (CNW)
2016-03-21 Hamilton Capital Announces HBG March 2016 Distribution (CNW)
2016-01-22 Hamilton Capital Launches Canada’s First Global Bank ETF (CNW)
2016-01-14 Hamilton Capital products among a crowded field of ETF hopefuls (Globe and Mail)
To view the filings of the Hamilton Capital Global Bank ETF (HBG) on SEDAR, please click here.
Quarterly Summary of Investment Portfolio
2018-03-31 2018Q1 Summary of Investment Portfolio
Independent Review Committee
2018-03-01 2017 Annual Report to Securityholders
Disclaimer: A prospectus containing important information relating to these securities has been filed with the securities commissions or similar authorities in certain jurisdictions of Canada. Copies of the prospectus may be obtained from firstname.lastname@example.org, www.hamilton-capital.com or on the SEDAR website (www.sedar.com).
Commissions, trailing commissions, management fees and expenses all may be associated with an investment in exchange traded products managed by Hamilton Capital Partners Inc. (the “Hamilton Products”). The Hamilton Products are not guaranteed, their values change frequently and past performance may not be repeated. The prospectus contains important detailed information about the Hamilton Products. Please read the prospectus before investing.