BKCL
Canadian Big Six Bank Exposure
As one of Canada’s largest economic sectors, the Canadian Big Six Banks have traditionally offered a stable bastion within the broader Canadian equity landscape.
The Covered Call Advantage + Leverage
BKCL’s Underlying ETF (Horizons Equal Weight Canadian Bank Covered Call ETF) uses a dynamic call writing approach, which seeks to generate income and reduce downside risk. BKCL employs 1.25x leverage, which can potentially magnify performance, relative to the performance of the Underlying Index.
Light Leverage, Big Opportunities
Investment Objective: BKCL seeks to provide, to the extent reasonably possible and net of expenses: (a) exposure to the performance of an index of equal-weighted equity securities of diversified Canadian banks (currently, the Solactive Equal Weight Canada Banks Index); and (b) high monthly distributions of dividend and call option income. To generate income, BKCL will be exposed to a dynamic covered call option writing program.
BKCL will also employ leverage (not to exceed the limits on use of leverage described under “Investment Strategies” in the ETFs prospectus) through cash borrowing and will generally endeavour to maintain a leverage ratio of approximately 125%.
Fund Details
Ticker
BKCL
Inception Date
July 05, 2023
Net Assets ?
$81,280,685
As at April 25, 2024
Consolidated Prior Day Volume ?
25 692
For April 26, 2024
Average Daily Trading Volume Over a 12 Month Period ?
50,845
As at April 26, 2024
Exchange
Toronto Stock Exchange
Investment Manager
Horizons ETFs Management (Canada) Inc.
Eligibility
All Registered and Non-Registered Investment Accounts
Management Fee
0.65%
(Plus applicable sales tax)
Management Expense Ratio ?
N/A (New ETF)
Currency
CAD
Currency Hedging
N/A
LEI ?
5493000KC63RT1RW2X37
Distribution Metrics
Most Recent Distributions Per Unit
$0.24500
Distribution Frequency
Monthly
Record Date
March 28, 2024
Portfolio Investment Metrics
As at March 29, 2024
Percent Written by Month End
38.55%
Average OTM % When Written
0.84%
Percentage of Options OTM by Month End
38.65%
Standard Deviation
14.03%
The NAV chart above only shows the historical daily net asset value per unit (NAV) of the ETF, and identifies the various distributions made by the ETF, if any. The distributions are not treated as reinvested, and it does not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder. The NAV values do contemplate management fees and other fund expenses. The chart is not a performance chart and is not indicative of future NAV values which will vary.
The Growth of 10K chart above is based on the historical daily net asset value per unit (NAV) of the ETF, and represents the value of an initial investment into the ETF of $10,000 since its inception, on a total return basis. Distributions, if any, are treated as reinvested, and it does not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder. The NAV values do contemplate management fees and other fund expenses where paid by the fund. The chart is not a performance chart and is not indicative of future value which will vary.
Annualized Performance (%) *
Investment fund regulations restrict the presentation of performance figures until a fund reaches its one-year anniversary.
Calendar Year Performance (%) *
Investment fund regulations restrict the presentation of performance figures until a fund reaches its one-year anniversary.
Distributions
| Year | Ex-Dividend Date | Record Date | Payment Date | Payment Amount | Reinvested Non-Cash Distributions | Distribution Period |
|---|---|---|---|---|---|---|
| 2024 | 03/27/2024 | 03/28/2024 | 04/05/2024 | 0.245 | — | Monthly |
| 2024 | 02/28/2024 | 02/29/2024 | 03/07/2024 | 0.245 | — | Monthly |
| 2024 | 01/30/2024 | 01/31/2024 | 02/07/2024 | 0.245 | — | Monthly |
| 2023 | 12/28/2023 | 12/29/2023 | 01/08/2024 | 0.245 | — | Monthly |
| 2023 | 11/29/2023 | 11/30/2023 | 12/07/2023 | 0.245 | — | Monthly |
| 2023 | 10/30/2023 | 10/31/2023 | 11/07/2023 | 0.245 | — | Monthly |
| 2023 | 09/28/2023 | 09/29/2023 | 10/06/2023 | 0.257 | — | Monthly |
| 2023 | 08/30/2023 | 08/31/2023 | 09/08/2023 | 0.257 | — | Monthly |
| 2023 | 07/28/2023 | 07/31/2023 | 08/08/2023 | 0.257 | — | Monthly |
Top Holdings
As at April 26, 2024| Security Name | Weight |
|---|---|
| Horizons Equal Weight Can Bk Cov Call ETF (BKCC) | 124.85% |
| CASH | 0.01% |
Horizons Enhanced Equal Weight Canadian Banks Covered Call ETF (BKCL) may invest in one or more other investment funds, including investment funds managed by Horizons ETFs Management (Canada) Inc. (“HEMI”). In doing so, HEMI is required to ensure that no duplicate fees are payable by BKCL and passed on to the investor, where BKCL and the investment fund it holds provide the same service.
Click here for holdings of the Horizons Equal Weight Canadian Bank Covered Call ETF (BKCC)
Holdings
Education
Regulatory and Legal
At a Glance
Key Features
Canadian Big Six Bank Exposure
As one of Canada’s largest economic sectors, the Canadian Big Six Banks have traditionally offered a stable bastion within the broader Canadian equity landscape.
The Covered Call Advantage + Leverage
BKCL’s Underlying ETF (Horizons Equal Weight Canadian Bank Covered Call ETF) uses a dynamic call writing approach, which seeks to generate income and reduce downside risk. BKCL employs 1.25x leverage, which can potentially magnify performance, relative to the performance of the Underlying Index.
Light Leverage, Big Opportunities
Investment Objective: BKCL seeks to provide, to the extent reasonably possible and net of expenses: (a) exposure to the performance of an index of equal-weighted equity securities of diversified Canadian banks (currently, the Solactive Equal Weight Canada Banks Index); and (b) high monthly distributions of dividend and call option income. To generate income, BKCL will be exposed to a dynamic covered call option writing program.
BKCL will also employ leverage (not to exceed the limits on use of leverage described under “Investment Strategies” in the ETFs prospectus) through cash borrowing and will generally endeavour to maintain a leverage ratio of approximately 125%.
Product Facts
Fund Details
Ticker
BKCL
Inception Date
July 05, 2023
Net Assets ?
$81,280,685
As at April 25, 2024
Consolidated Prior Day Volume ?
25 692
ForApril 26, 2024
Average Daily Trading Volume Over a 12 Month Period ?
50,845
As at April 26, 2024
Exchange
Toronto Stock Exchange
Investment Manager
Horizons ETFs Management (Canada) Inc.
Eligibility
All Registered and Non-Registered Investment Accounts
Management Fee
0.65%
(Plus applicable sales tax)
Management Expense Ratio ?
N/A (New ETF)
Currency
CAD
Currency Hedging
N/A
LEI ?
5493000KC63RT1RW2X37
Distribution Metrics
As at April 25, 2024
Most Recent Distributions Per Unit
0.245
Distribution Frequency
Monthly
Record Date
March 28, 2024
Portfolio Investment Metrics
As at March 29, 2024
Percent Written by Month End
38.55%
Average OTM % When Written
0.84%
Percentage of Options OTM by Month End
38.65%
Standard Deviation
14.03%
The NAV chart above only shows the historical daily net asset value per unit (NAV) of the ETF, and identifies the various distributions made by the ETF, if any. The distributions are not treated as reinvested, and it does not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder. The NAV values do contemplate management fees and other fund expenses. The chart is not a performance chart and is not indicative of future NAV values which will vary.
The Growth of 10K chart above is based on the historical daily net asset value per unit (NAV) of the ETF, and represents the value of an initial investment into the ETF of $10,000 since its inception, on a total return basis. Distributions, if any, are treated as reinvested, and it does not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder. The NAV values do contemplate management fees and other fund expenses where paid by the fund. The chart is not a performance chart and is not indicative of future value which will vary.
Performance & Distributions
Annualized Performance (%)
Investment fund regulations restrict the presentation of performance figures until a fund reaches its one-year anniversary.
Calendar Year Performance (%)
Investment fund regulations restrict the presentation of performance figures until a fund reaches its one-year anniversary.
Distributions
| Year | Ex-Dividend Date | Record Date | Payment Date | Payment Amount | Reinvested Non-Cash Distributions | Distribution Period |
|---|---|---|---|---|---|---|
| 2024 | 03/27/2024 | 03/28/2024 | 04/05/2024 | 0.245 | Monthly | |
| 2024 | 02/28/2024 | 02/29/2024 | 03/07/2024 | 0.245 | Monthly | |
| 2024 | 01/30/2024 | 01/31/2024 | 02/07/2024 | 0.245 | Monthly | |
| 2023 | 12/28/2023 | 12/29/2023 | 01/08/2024 | 0.245 | Monthly | |
| 2023 | 11/29/2023 | 11/30/2023 | 12/07/2023 | 0.245 | Monthly | |
| 2023 | 10/30/2023 | 10/31/2023 | 11/07/2023 | 0.245 | Monthly | |
| 2023 | 09/28/2023 | 09/29/2023 | 10/06/2023 | 0.257 | Monthly | |
| 2023 | 08/30/2023 | 08/31/2023 | 09/08/2023 | 0.257 | Monthly | |
| 2023 | 07/28/2023 | 07/31/2023 | 08/08/2023 | 0.257 | Monthly |
Holdings
Top Holdings
As at April 26, 2024| Security Name | Weight |
|---|---|
| Horizons Equal Weight Can Bk Cov Call ETF (BKCC) | 124.85% |
| CASH | 0.01% |
Horizons Enhanced Equal Weight Canadian Banks Covered Call ETF (BKCL) may invest in one or more other investment funds, including investment funds managed by Horizons ETFs Management (Canada) Inc. (“HEMI”). In doing so, HEMI is required to ensure that no duplicate fees are payable by BKCL and passed on to the investor, where BKCL and the investment fund it holds provide the same service.
Click here for holdings of the Horizons Equal Weight Canadian Bank Covered Call ETF (BKCC)
Holdings
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