- Actively managed portfolio of over 50 higher yielding global financial services companies
- Underlying Portfolio Yield of 4.45% (Net)
- Universe includes ~400 global financials with yields greater than 5%
- Quarterly distributions
- Global/sector diversification with exposure to ~15 countries and 10 sub-sectors
- Scroll down for HBG and HFY Manager Commentary
- Managed by Rob Wessel, Jennifer Mersereau, Babak Assadi, and Chris Dewey
- “REIT-like” yield, with positive rate sensitivity
- Favourable valuations and positive growth trends in consensus EPS and dividends
- Diversification by position, geography and sub-sector
- Lower concentration risk/correlations
HBG and HFY Manager Commentary
HFY: Are REITs Set to Underperform the Financials? (Jan 16, 2017)
HFY Historical NAV
The chart of Historical NAV does not represent performance of HFY. The chart shows the daily movements of the NAV and does not include reinvested distributions.
Top 10 Holdings1
|1||WBC||Westpac Banking Corp||Banks||Australia||3.4%|
|3||LGEN||Legal and General Group||Insurance||United Kingdom||3.4%|
|4||ARCC||Ares Capital Corp||Other||United States||3.3%|
|6||NAB||National Australia Bank||Banks||Australia||3.2%|
|8||PACW||Pacwest Bancorp||Banks||United States||2.9%|
|9||AV/||Aviva PLC||Insurance||United Kingdom||2.9%|
1. As at April 30, 2017, as a percent of net asset value.
Additional Portfolio Disclosure as of April 30, 2017
- The distribution of holdings was spread across 15 countries, including: United States (34%), Australia (16%), United Kingdom and Ireland (12%), Northern Europe (12%), and Canada (10%).
- HFY had 51 holdings, including 19 banks (including 2 from the U.S., 4 from Northern Europe, 5 from Australia, 1 from Latin America), 10 insurance companies (in Europe, Australia, and Canada), 10 REITs, and 6 business development companies (BDCs).
- HFY had 15 positions with gross underlying yields between 5% and 6%, 10 positions with yields between 6% and 7%, and 14 positions with gross underlying yields greater than 7%.
- Direct exposure to financials domiciled in emerging markets was 1%.
The investment objective of Hamilton Capital Global Financials Yield ETF (“HFY”) is to seek long-term returns from an actively managed portfolio consisting of regular dividend and distribution income with modest long-term capital growth by investing in global financial services companies, including but not limited to, commercial and investment banks, insurance companies, brokerages, asset managers, exchanges, real estate investment trusts and other investment companies. The ETF invests primarily in equity and equity related securities of financial companies located anywhere around the globe.
HFY will seek to achieve its investment objective through the selection of financial services companies located around the globe that, in the Portfolio Adviser’s view, have good long-term prospects of increasing dividends and distribution payments. To determine those companies that fit this criteria, the Portfolio Adviser will apply specialized analysis and expertise, reviewing a company’s individual attributes such as its own yield, valuation and growths prospects, as well as its macro environment, including, but not limited to, GDP growth, inflation and interest rate trends, fiscal and monetary policies, and regulatory trends.
At any time, it is anticipated that the ETF’s portfolio will be made up of between approximately 50 and 80 issuers. Such investments will be diversified by country and by sub-sector. HFY will primarily invest in equity securities listed on major global exchanges, including ADRs, and may also, from time to time, invest in preferred securities. The Portfolio Adviser may, at its discretion, hedge some or all of the ETF’s non-Canadian dollar currency exposure.
|Ex-Dividend Date||Record Date||Payment Date||Payment Amount||Type||Distribution Frequency|
The estimated annualized yield is 3.15%. The annualized yield attributable to those units has not been pro-rated for the reduced number of days in the quarter.*
* Calculated using the March 17, 2017 net asset value per unit. Units of the Hamilton Capital Global Financials Yield ETF began trading on February 7, 2017.
2017-03-22 Hamilton Capital Announces HBG, HFY March 2017 Distributions (CNW)
2016-12-13 Howard J. Atkinson Joins Board of Hamilton Capital (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 Financials Yield ETF (HFY) on SEDAR, please click here.
Quarterly Summary of Investment Portfolio
2017-03-31 2017Q1 Summary of Investment Portfolio
2016-09-30 2016Q3 Summary of Investment Portfolio
2016-03-31 2016Q1 Summary of Investment Portfolio
Independent Review Committee
2017-01-14 2016 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 email@example.com, 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.