Mulvihill Canadian Bank Enhanced Yield ETF

Historic Net Asset Value Per Unit

Portfolio Manager Updates

Fund Features

Objectives

Mulvihill Canadian Bank Enhanced Yield ETF seeks to provide the Unitholders with long-term capital appreciation through exposure to a portfolio consisting principally of common shares of Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, The Toronto-Dominion Bank and National Bank of Canada and pay monthly cash distributions.

Investment Strategy

The fund will invest, primarily in the common shares of the "Big Six" Canadian Banks. The fund will use modest leverage of 25% to enhance the dividend yields of the underlying stocks and provides additional return potential. Option writing strategies are utilized to enhance portfolio income. The fund will, from time to time employ various investment strategies (described below), including the use of derivative instruments to generate income, reduce portfolio volatility and protect capital. The fund seeks to pay monthly distributions, targeting a 7% yield per annum, with additional capital growth potential beyond such yield target.

The fund may (a) from time to time in response to market conditions write covered call options on individual securities to seek to receive premium income, reduce overall portfolio volatility and enhance the portfolio’s total return, (b) from time to time in response to market conditions write cash-covered put options in respect of individual securities that the fund is permitted to hold and in respect of market indices, in order to receive premium income, reduce overall portfolio volatility and reduce the net cost of acquiring the securities subject to put options, (c) purchase call options in respect of securities in which the fund is permitted to invest, (d) purchase put options on individual securities in its portfolio, indexed put options and unleveraged inverse exchange traded funds that provide exposure to such securities, (e) use derivatives, including but not limited to options, forward contracts, futures contracts and swaps for both hedging and non-hedging purposes to generate income, hedge against losses from changes in the prices of the fund’s investments and market declines (f) hold cash or cash equivalents for strategic reasons or to provide cover for the writing of cash covered put options in respect of securities in which the fund is permitted to invest. Options may be either exchange traded or over-the-counter options.

Distributions

The Fund expects to make distributions monthly that may consist of net income, net realized capital gains and/or return of capital, if any.

Eligibility

RRSPs, DPSPs, RRIFs, RESPs and TFSAs

Management Fees

The Fund pays a management fee of 0.65% of net asset value annually to Mulvihill Capital Management for acting as the Manager and the Investment Manager.

MER

The Management Expense Ratio (“MER”) is the sum of all operating expenses, including management and service fees but excluding portfolio transaction costs, expressed as a percentage of average net asset value.

Inception Date

02/25/2022

Manager

Mulvihill Capital Management Inc.

Documentation

Date:   All 2024 2023 2022		Type:   All Annual Information Form Distribution Notice Financial Report Fund Fact IRC Report Press Release Prospectus		Description
April 03, 2024		Press Release		CBNK: Declares Monthly Fund Distribution
March 27, 2024		Financial Report		2023 Annual Report
March 27, 2024		Financial Report		2023 Annual Report (French)
March 27, 2024		Press Release		CBNK: Announces Year End Results
March 05, 2024		IRC Report		IRC Report for Mulvihill Canadian Bank Enhanced Yield ETF
March 05, 2024		Press Release		CBNK: Declares Monthly Fund Distribution
February 15, 2024		Fund Fact		ETF Facts
February 15, 2024		Fund Fact		ETF Facts (French)
February 15, 2024		Prospectus		Final Long Form Prospectus
February 15, 2024		Prospectus		Final Long Form Prospectus (French)
February 05, 2024		Press Release		CBNK: Declares Monthly Fund Distribution
January 03, 2024		Press Release		CBNK: Declares Monthly Fund Distribution
December 06, 2023		Press Release		CBNK: Declares Monthly Fund Distribution
November 02, 2023		Press Release		CBNK: Declares Monthly Fund Distribution
October 03, 2023		Press Release		CBNK: Declares Monthly Fund Distribution
September 05, 2023		Press Release		CBNK: Declares Monthly Fund Distribution
August 29, 2023		Financial Report		2023 Semi-Annual Report
August 29, 2023		Financial Report		2023 Semi-Annual Report (French)
August 29, 2023		Press Release		CBNK: Announces Semi-Annual Results 2023
August 02, 2023		Press Release		CBNK: Declares Monthly Fund Distribution
July 05, 2023		Press Release		CBNK: Declares Monthly Fund Distribution
June 06, 2023		Press Release		CBNK: Declares Monthly Fund Distribution
May 03, 2023		Press Release		CBNK: Declares Monthly Fund Distribution
April 04, 2023		Press Release		CBNK: Declares Monthly Fund Distribution
March 29, 2023		Press Release		CBNK: Announces Year End Results
March 27, 2023		Financial Report		2022 Annual Report
March 27, 2023		Financial Report		2022 Annual Report (French)
March 03, 2023		Press Release		CBNK: Declares Monthly Fund Distribution
February 15, 2023		Fund Fact		ETF Facts
February 15, 2023		Prospectus		Final Long Form Prospectus
February 02, 2023		Press Release		CBNK: Declares Monthly Fund Distribution
January 04, 2023		Press Release		CBNK: Declares Monthly Fund Distribution
December 05, 2022		Press Release		CBNK: Declares Monthly Fund Distribution
November 03, 2022		Press Release		CBNK: Declares Monthly Fund Distribution
October 03, 2022		Press Release		CBNK: Declares Monthly Fund Distribution
September 02, 2022		Press Release		CBNK: Announces Semi-Annual Results
September 02, 2022		Press Release		CBNK: Declares Monthly Fund Distriibution
August 29, 2022		Financial Report		2022 Semi-Annual Report
August 03, 2022		Press Release		CBNK: Declares Monthly Fund Distribution
July 05, 2022		Press Release		CBNK: Declares Monthly Distribution
June 03, 2022		Press Release		CBNK: Declares Monthly Fund Distribution
May 04, 2022		Press Release		CBNK: Declares Monthly Distribution
April 04, 2022		Press Release		CBNK: Declares Monthly Distribution
March 24, 2022		Press Release		Declares Monthly Fudn Distribution (updated payable date)
March 23, 2022		Press Release		Declares Monthly Fund Distribution
February 28, 2022		Press Release		Mulvihill launches Mulvihill Canadian Bank Enhanced Yield ETF
February 14, 2022		Fund Fact		ETF Facts - Units (English)
February 14, 2022		Fund Fact		ETF Facts - Units (French)
February 14, 2022		Prospectus		Final Prospectus (English)
February 14, 2022		Prospectus		Final Prospectus (French)

Administration & Governance

Introduction

Mulvihill Capital Managent Inc. serves as the Manager and the Investment Manager of the Fund.

Manager

The Manager is responsible for providing or arranging for the provision of administrative services to the Fund including but not limited to:

• authorizing the payment of operating expenses incurred on behalf of the Fund,
• preparing financial statements and other accounting information,
• ensuring that unitholders are provided with annual and semi-annual reports and other reports as required by applicable law;
• ensuring the Fund complies with regulatory requirements;
• calculating and arranging for the payment of distributions;
• negotiating any contractual agreements with third-party providers of services to the Fund, including auditors, printers, registrar and transfer agent
• Overseeing and paying quarterly and annual redemptions;
• Maintaining the website and ongoing communication with investors.

The Management fee payable to the Manager includes any amount payable to the Investment Manager.

Investment Manager

The Investment Manager is responsible for making all investment decisions and managing the call option writing program in accordance with the investment objectives, strategies and restrictions of the Fund. Fees for the provision of investment management services are included in the management fee.

The Investment Manager has an asset mix committee consisting of senior members of the firm. The investment process for the Fund begins at the asset mix committee. Members of this committee meet monthly to examine macro-economic variables and relationships among dominant economic factors. This process culminates in an outlook for the various capital markets around the world and provides the Fundamental basis for Mulvihill’s long-term market outlook. These views are integrated into the investment decision making process at the portfolio management level. The asset mix committee of Mulvihill oversees investment decisions made by the portfolio managers of the Fund.

Independent Review Committee

The Fund has established an Independent Review Committee (“IRC”) in accordance with National Instrument 81-107 – Independent Review Committee for Investment Funds (“NI 81-107”) which is comprised of three members who are independent of the Manager. The mandate of the IRC is to review and provide its decisions to the Manager regarding any conflict of interest matters relating to its management of the Fund that the Manager has identified and brought to the committee.

A conflict of interest matter is a situation where a reasonable person would consider the Manager or an entity related to it to have an interest that may conflict with the Manager’s ability to act in good faith and in the best interests of the Funds and Securityholders. Click here for the IRC Report to Securityholders.

Click here to review members of the IRC.

Trustee and Custodian

Trustee: Mulvihill Capital Management Inc.
Custodian: RBC Investor & Treasury Services

Registrar and Transfer Agent

TSX Trust

Legal Counsel

Osler Hoskin & Harcourt LLP

Auditors

Deloitte & Touche LLP