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CI Canadian Banks Covered Call Income Class ETF
CIC (CI Canadian Banks Covered Call Income Class ETF) is a covered call Financial Services Equity ETF by CI. With a 0.65% MER, it provides diversified exposure. Monthly distribution with a 5.46% yield.
CIC by CI uses a covered call strategy. By selling call options on its holdings, it generates additional income at the cost of capped upside potential during bull markets.
With a 0.65% MER, its fees are in line with category averages. It pays a monthly distribution with a 5.46% yield, making it attractive for income-seeking investors.
This ETF is primarily aimed at investors in the distribution phase or seeking regular income, particularly in a TFSA where distributions are tax-free.