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Brompton North American Financials Dividend ETF

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  • Closing Price (Nov 12, 2019) $20.57
  • Distribution $0.08333
  • Distribution Rate (Nov 13, 2019) 4.86%
  • Distribution Frequency Monthly
  • Management Style Active with Covered Calls
  • Management Fee 0.75%
  • NAV (Nov 11, 2019) $20.53
  • Total Assets (Nov 13, 2019) $22 Million
  • Closing Price (Nov 12, 2019) $21.37
  • Distribution $0.08333
  • Distribution Rate (Nov 13, 2019) 4.35%
  • Distribution Frequency Monthly
  • Management Style Active with Covered Calls
  • Management Fee 0.75%
  • NAV (Nov 11, 2019) $21.30

This ETF provides monthly distributions and the opportunity for capital gains through an investment in an actively managed portfolio of large cap North American financial services companies selected by Brompton, complemented by a proprietary covered call program. Our PM team first uses a top-down analysis to identify attractive sub-sectors. Rigorous fundamental analysis focuses the portfolio on at least 15 North American Financial Services Companies (as defined herein) with a market capitalization of at least $5 billion. The PMs then actively set the level of covered call writing (up to a maximum of 33%), with the goal of optimizing distributable cash and total returns.

Why Invest In North American Financials?

  • North American financial companies have historicaly had strong performance during periods of rising interest rates
  • Brompton believes North American financial companies have strong dividend growth potential
  • Opportunity for Canadian investors to diversify their investment in financials

This ETF is for Investors who are:

  • Seeking stable monthly cash distributions
  • Seeking opportunity for capital appreciation and lower overall volatility of portfolio returns than would otherwise be experienced by owning securities of technology companies directly
  • Can handle the ups and downs of the stock market

FUND FACTS

  • Ticker (CAD Hedged)
    BFIN
  • CUSIP (CAD Hedged)
    11221X107
  • Ouststanding (CAD Hedged) (Nov 13, 2019)
    1,025,000
  • Ticker (USD Unit)
    BFIN.U
  • CUSIP (USD Unit)
    11221X206
  • Ouststanding (USD Unit) (Nov 13, 2019)
    50,000
  • Inception Date
    October 17, 2018
  • MER(1)
    0.95%
  • Manager/Portfolio Manager
    Brompton Funds Limited
  • Auditor
    PricewaterhouseCoopers LLP
  • Custodian
    CIBC Mellon Trust Company
  • Transfer Agent
    TSX Trust Company
  • Eligibility
    All registered and non-registered accounts
  • Risk Rating
    Medium
  • ESG Score(2)
    A-

Manager/Portfolio Manager

Brompton Funds, a division of Brompton Group which was founded in 2000, is an experienced investment fund manager with over $2 billion in assets under management. Brompton’s Portfolio Management team specializes in Canadian and global equity investments and is a leading manager of covered call writing strategies in Canada.

Brompton North American Financials Dividend ETF

Summary of Investment Portfolio as at September 30, 2019

Total Net Asset Value$22,555,917.00

Holdings

% of Portfolio% of Net Asset Value
S&P Global Inc.6.2%6.2%
Mastercard Inc.6.0%6.0%
Sun Life Financial Inc.5.7%5.7%
Aon PLC5.5%5.6%
American Express Co5.1%5.2%
Progressive Corp5.1%5.2%
PNC Financial Services Group Inc5.1%5.2%
JPMorgan Chase & Co5.1%5.1%
First Republic Bank4.9%5.0%
Broadridge Financial Solutions Inc.4.9%4.9%
Automatic Data Processing Inc.4.8%4.9%
Toronto-Dominion Bank4.8%4.9%
Bank of America Corp4.8%4.8%
Citigroup Inc4.7%4.7%
MetLife Inc4.5%4.6%
Aflac Inc4.4%4.5%
Royal Bank of Canada4.3%4.4%
Goldman Sachs Group Inc4.3%4.4%
Morgan Stanley4.3%4.3%
CME Group Inc3.7%3.8%
Cash and short-term investments1.8%1.9%
Total100%101.3%
Performance NAV History

Growth of $10,000(1)

Annual Compound Returns(2)

YTD 1-Year Since Inception(3)
Brompton North American Financials Dividend ETF 22.5% 8.9% 5.3%
S&P/TSX Capped Financials Index 20.7% 14.4% 11.7%
S&P 500 Financials Index 22.5% 11.7% 8.7%

The following table shows the past performance of the Fund. Past performance does not necessarily indicate how the Fund will perform in the future. The information shown is based on Net Asset Value per unit and assumes that distributions made by the Fund on its units in the period shown were reinvested at Net Asset Value per unit in additional units of the Fund.

The table shows the Fund’s compound returns compared with the S&P/TSX Capped Financials Index (“Financials Index”) and the S&P 500 Financials Index (S&P Index) (together the “Indices”). The Financials Index is comprised of constituents of the S&P/TSX Composite Index that are classified as members of the financial sector with individual constituents capped at 25% weight. The S&P Index is comprised of constituents of the S&P 500 Index that are classified as members of the financial sector with individual constituents capped at 25% weight. The Fund invests in at least 15 North American Financial Services companies with market capitalization of at least $5 billion. It is therefore not expected the Fund’s performance will mirror that of the Indices which have more diversified portfolios. Further, the Indices are calculated without the deduction of management fees, fund expenses and trading commissions, whereas the performance of the Fund is calculated after deducting such fees and expenses.

Returns for Brompton North American Financials Dividend ETF are unaudited.

Commissions, trailing commissions, management fees and expenses all may be associated with exchange-traded fund investments. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Exchange-traded funds are not guaranteed, their values change frequently and past performance may not be repeated.

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Distributions

The actual breakdown of distributions for tax purposes will be provided to unitholders annually in March. This information will also be posted on the website as soon as it is available.

This information is of a general nature only and does not constitute legal or tax advice to any particular investor. Accordingly, prospective investors are advised to consult their own tax advisors with respect to their individual circumstances.

DRIP

Investors may elect to automatically reinvest their distributions in additional units of the Fund and realize the benefits of compound growth. Any units acquired pursuant to the distribution reinvestment program qualify for the service fee.

DRIP Plan

Tax Allocation

The following information is applicable to holders who, for the purposes of the Income Tax Act (Canada), are resident in Canada and hold trust units as capital property. If this is not the case, a tax advisor should be consulted.

Holders of trust units outside of a RRSP, DPSP, RRIF, RESP or TFSA should expect to receive a T3 slip from their investment dealer. T3 supplementary slips will indicate Investment Income in Box 26, Foreign Non-Business Income in Box 25, Capital Gains in Box 21 and Dividend Income in Box 23 and Box 49. Dividend income is subject to the standard gross up and federal dividend tax credit rules.

The return of capital component is a non-taxable amount that serves to reduce the adjusted cost base of the Fund units and is reported in Box 42.

Select a year

Class A Share

Record Date Payment Date Return of Capital Foreign Non- Business Income Foreign Non- Business Income Tax Paid Capital Gains Total Distribution
Dec 31, 2019 Jan 15, 2020 0.00000 0.00000 0.00000 0.00000 0.08333
Nov 29, 2019 Dec 13, 2019 0.00000 0.00000 0.00000 0.00000 0.08333
Oct 31, 2019 Nov 14, 2019 0.00000 0.00000 0.00000 0.00000 0.08333
Sep 30, 2019 Oct 15, 2019 0.00000 0.00000 0.00000 0.00000 0.08333
Aug 30, 2019 Sep 16, 2019 0.00000 0.00000 0.00000 0.00000 0.08333
Jul 31, 2019 Aug 15, 2019 0.00000 0.00000 0.00000 0.00000 0.08333
Jun 28, 2019 Jul 15, 2019 0.00000 0.00000 0.00000 0.00000 0.08333
May 31, 2019 Jun 14, 2019 0.00000 0.00000 0.00000 0.00000 0.08333
Apr 30, 2019 May 14, 2019 0.00000 0.00000 0.00000 0.00000 0.08333
Mar 29, 2019 Apr 12, 2019 0.00000 0.00000 0.00000 0.00000 0.08333
Feb 28, 2019 Mar 14, 2019 0.00000 0.00000 0.00000 0.00000 0.08333
Jan 31, 2019 Feb 14, 2019 0.00000 0.00000 0.00000 0.00000 0.08333
Total 0.00000 0.00000 0.00000 0.00000 0.99996
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