Hamilton Capital Partners Inc has launched is the Hamilton Utilities Yield Maximizer ETF, UMAX, which seeks to deliver attractive monthly income, while providing exposure to a portfolio of utility services companies’ equity securities with an active covered call strategy.
“We are excited to introduce our latest yield maximiser ETF, UMAX, for investors seeking higher monthly income. With an initial target yield of 13 per cent+, UMAX is the highest yielding utilities ETF in Canada, and provides exposure to a portfolio of Canada’s largest utility services companies with an innovative active covered call strategy to enhance monthly income and reduce volatility. We believe UMAX is an attractive complement to our Hamilton Canadian Financials Yield Maximizer ETF (ticker: HMAX), which is the highest yielding financials ETF in Canada, and has already grown to over USD350 million in AUM since it was launched in January. The covered call strategy for both UMAX and HMAX will be overseen by Nick Piquard, a well-known top covered call portfolio manager in Canada and a recent addition to the Hamilton ETFs team,” says Pat Sommerville, Senior Partner and Head of Business Development at Hamilton ETFs.
