Hamilton ETFs has announced the launch of the Hamilton Canadian Financials Yield Maximizer ETF. The firm writes that HMAX seeks to deliver attractive monthly income, while providing exposure to a market cap-weighted portfolio of Canadian financial services equity securities with an active covered call strategy.
“Monthly cash flow continues to be of significant importance to many Canadian investors, and we are excited to launch HMAX, which has been designed with those investors in mind. With an initial target yield of 13 per cent+, HMAX will be the highest yielding financials ETF in Canada and provides exposure to a portfolio of Canadian banks and financials with an innovative active covered call strategy to enhance monthly income and reduce volatility,” says Pat Sommerville, Senior Partner and Head of Business Development at Hamilton ETFs.
