Product news: Hamilton continues rollout of yield products

Hamilton Capital Partners Inc. has added four sectors to its suite of “yield maximizer” covered-call products.

The four new ETFs trading on the TSX cover gold (the Hamilton Gold Producers Yield Maximizer ETF, or AMAX), energy (the Hamilton Energy Yield Maximizer ETF, or EMAX), U.S. financials (the Hamilton U.S. Financials Yield Maximizer ETF, or FMAX) and health care (the Hamilton Healthcare Yield Maximizer ETF, or LMAX).

The funds hold equal-weighted equity portfolios of companies in their given sector, with AMAX and EMAX focused on North American names and FMAX and LMAX on U.S. listings. The ETFs use an active covered-call strategy, writing options on roughly 30% of the portfolio. The management fees are 0.65%.

Hamilton now has 9 “yield maximizer” ETFs, including products focused on Canadian financials, utilities, technology, U.S. equities and U.S. bonds.

Fidelity releases new all-equity ETFs

Fidelity Investments Canada ULC launched three active fund-of-fund ETFs as well as an alternative fund.

The three new all-equity ETFs — the Fidelity All-Canadian Equity ETF (FCCA), the Fidelity All-American Equity ETF (FCAM) and the Fidelity All-International Equity ETF (FCIN), all trading on Cboe Canada — invest in underlying Fidelity factor-based ETFs for the designated region. Quality, value, low-volatility and momentum funds each make up a quarter of the new ETFs’ holdings.

The new products don’t charge management fees but are subject to fees for the underlying ETFs: 0.35% for FCCA and FCAM, and 0.45% for FCIN.

The new alternative fund is the Fidelity Canadian Long/Short Alternative Fund and ETF series. The fund manager will invest in long positions of Canadian companies it expects to outperform the S&P/TSX Capped Composite Index and in short positions — about 30% of the fund’s net asset value — of companies it expects to underperform.

The management fee is 0.95% for the ETF and 1.95% for series B of the mutual fund.

CIBC adds to CDR roster

CIBC continues to build its lineup of Canadian depositary receipts, with seven new products trading on Cboe Canada as of Feb. 15.

CDRs, which were first introduced in 2021, provide exposure to large U.S companies while hedging currency risk. CIBC now offers 54 CDRs.

The new products are for asset manager BlackRock, liquor company Constellation Brands, machinery firm Deere, apparel company Lululemon, cybersecurity firm Palo Alto Networks, software provider ServiceNow and health-care firm Thermo Fisher.