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Evolve Dividend Stability Preferred Share Index ETF now trading on TSX


Evolve Funds Group (Evolve) has the launch of the Evolve Dividend Stability Preferred Share Index ETF (PREF), which has closed its initial offering of units and is now trading on the Toronto Stock Exchange (TSX).

“We are pleased to provide Canadian investors with another preferred share option,” says Raj Lala, President and CEO at Evolve ETFs. “In the past year the performance of the Canadian preferred market has been challenging and historically this has led to tax loss selling pressure at year end. PREF may be an ideal solution for investors who are considering tax loss selling and still want to remain invested in the asset class through a portfolio of Canadian preferred shares with high credit quality, stable dividends, and currently trading close to par.”
PREF seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of the Solactive Dividend Stability Canada Preferred Share Index (Pref Index). The Pref Index measures the performance of 50 preferred equity securities of companies listed on the TSX, based on market capitalisation, with a credit rating of at least P3L or higher (S&P Global Ratings Canada or DBRS group of companies). Any rate reset preferred shares will have a minimum coupon on its reset date.
The Pref Index will include up to a maximum of 50 preferred equity securities that have a market price closest to par. The composition of the Pref Index is published in September and adjusted annually. The Pref Index is published in Canadian dollars.

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