Product roundup: More ETFs in the making

Multiple asset managers have filed preliminary prospectuses to launch ETFs in Canada.

Harvest Portfolios Group Inc. is seeking to introduce a new suite of single-stock ETFs that would invest in the stocks of well-known Canadian companies.

If approved, the 10 ETFs that are slated to be part of Harvest’s High Income Shares ETF lineup and be listed on the TSX include:

• Harvest Agnico Eagle Enhanced High Income Shares ETF (AEME)
• Harvest BCE Enhanced High Income Shares ETF (BCEE)
• Harvest Cameco Enhanced High Income Shares ETF (CCOE)
• Harvest CNQ Enhanced High Income Shares ETF (CNQE)
• Harvest Enbridge Enhanced High Income Shares ETF (ENBE)
• Harvest Royal Bank Enhanced High Income Shares ETF (RYHE)
• Harvest Shopify Enhanced High Income Shares ETF (SHPE)
• Harvest Suncor Enhanced High Income Shares ETF (SUHE)
• Harvest TD Bank Enhanced High Income Shares ETF (TDHE)
• Harvest TELUS Enhanced High Income Shares ETF (TEHE)
• Harvest Canadian High Income Shares ETF (HHIC)

The prospective funds would seek to provide investors with high monthly cash distributions as well as long-term capital appreciation by investing, on a levered basis, in the common shares of Canadian companies, a release said.

Brompton Funds to intro CLO ETF

Brompton Funds Limited plans to introduce another ETF that invests in credit loan obligations (CLOs).

If approved, the actively managed Brompton Wellington Square BBB CLO ETF would be listed on the TSX with the ticker BBBB. The fund would aim to provide high monthly income and capital preservation by investing in a portfolio comprised of at least 75% investment-grade CLOs, a fund document said.

Two new ETFs from J.P. Morgan

J.P. Morgan Asset Management Canada is looking to launch the JPMorgan US Ultra-Short Income Active ETF and JPMorgan US Bond Active ETF on the TSX.

The JPMorgan US Ultra-Short Income Active ETF would seek to provide investors with income “while seeking to maintain a low volatility of principal primarily through exposure to investment grade U.S. dollar denominated short-term fixed, variable and floating rate debt,” a preliminary prospectus from the firm stated.

The JPMorgan US Ultra-Short Income Active ETF would also “invest in or use derivative instruments to seek to hedge U.S. currency exposure,” the document noted.

ETF units of the PICTON Income Fund on the way

PICTON Investments has its sights set on launching ETF units of the PICTON Income Fund on the TSX.

The fund’s investment objective is to “maximize total return through income and capital appreciation by investing primarily in global income securities while mitigating capital loss by engaging in hedging strategies for downside risk protection,” fund documents said.