Harvest to launch two defensive ETFs

Harvest Portfolios Group Inc. is preparing to launch new ETFs tracking gold and utilities to help investors take defensive positions, the firm said Tuesday.

“Arguably, we are in late innings of the economic cycle, so it makes sense to prepare a portfolio with more defensive products,” said Harvest president and CEO Michael Kovacs in a release.

The firm has filed a preliminary prospectus for two new ETFs.

The Harvest Equal Weight Global Utilities Income ETF aims to provide monthly cash distributions and lower volatility by writing covered call options on up to 33% of the portfolio securities, the release said.

The Harvest Global Gold Giants Index ETF looks to replicate the performance of the Solactive Global Giants Index, investing in large gold mining issuers listed in North America, Australia and Europe.

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