Today, CIBC Asset Management Inc. (CAM) announced the addition of four new exchange-traded funds (ETFs) to its expanding ETF suite. These ETFs leverage the experience and expertise of CAM’s quantitative investment team and include an ESG-themed clean energy exposure ETF that tracks a proprietary Index from CIBC Private Wealth Advisors, Inc. With a focus on North American clean energy, competitive fees, and a unique low volatility dividend suite – these new solutions offer features and benefits that are distinctive in the marketplace and offer compelling value for Canadian investors.
“Our new solutions appeal to income-seeking investors who prefer equity-based exposure with reduced volatility. We are also expanding our Sustainable Investment Solutions with the addition of the CIBC Clean Energy Index ETF. This is a significant growth area as investors increasingly look to enhance their portfolios and align their investments with their personal values,” says David Scandiffio, President and CEO, CIBC Asset Management.
The following ETFs have closed their initial offerings of units and will begin trading on the NEO Exchange today.
|NEO ticker||ETF name||Fund focus||Annual management fee*|
|CQLC||CIBC Qx Canadian Low |
Volatility Dividend ETF
|Seeks current income and long-term capital growth by investing primarily in Canadian equity securities that are expected to provide regular income from dividends, while seeking to reduce volatility.||0.30%|
|CQLU||CIBC Qx U.S. Low|
Volatility Dividend ETF
|Seeks current income and long-term capital growth by investing primarily in U.S. equity securities that are expected to provide regular income from dividends, while seeking to reduce volatility.||0.30%|
|CQLI||CIBC Qx International Low|
Volatility Dividend ETF
|Seeks current income and long-term capital growth by investing primarily in foreign equity securities located in Europe, the Far East, and the Pacific Rim that are expected to provide regular income from dividends, while seeking to reduce volatility.||0.40%|
|CCLN||CIBC Clean Energy Index|
|Seeks to replicate, to the extent reasonably possible (and before fees and expenses), the performance of a clean energy index. Currently, this ETF seeks to track the CIBC Atlas Clean Energy Select Index (or any successor thereto). The Index is designed to identify companies engaged in the clean energy sector. The Index Provider defines such companies as those that provide the products and services which enable the evolution of a more sustainable energy sector. Clean energy business segments include, but are not limited to the following activities: (i) renewable energy sources, including solar power, wind power, hydroelectricity, geothermal energy, biomass, biofuels, and tidal/wave energy, (ii) clean technologies, including electric vehicles, energy storage, lithium, fuel cell, smart grid, and energy efficiency technologies and (iii) other emerging clean energy activities and technologies.||0.35%|
*The management fee is equal to the fee paid by the CIBC ETF to CAM and does not include applicable taxes or other fees and expenses of the CIBC ETF.
These solutions draw on a proprietary quantitative methodology as well as the knowledge, indexing capabilities and deep experience that CAM has successfully built and demonstrated over the past three decades. With the launch of these products, CAM offers a range of active, strategic beta and index ETFs that are competitively priced.
CIBC ETFs are managed by CIBC Asset Management Inc. (“CAMI”), a subsidiary of Canadian Imperial Bank of Commerce. Commissions, management fees and expenses all may be associated with investments in exchange traded funds (ETFs). Please read the CIBC ETFs prospectus or ETF Facts document before investing. To obtain a copy, call 1-888-888-3863, ask your advisor or visit CIBC.com/etfs. ETFs are not guaranteed, their values change frequently and past performance may not be repeated.
CIBC Private Wealth Advisors, Inc. (“CIBC PWA”) is the index provider for the CIBC Atlas Clean Energy Select Index (the “Index”) and is an affiliate of CIBC Asset Management Inc. However, CIBC PWA does not sponsor, endorse, sell or promote the CIBC Clean Energy Index ETF (the “CIBC ETF”) and further makes no representation regarding the advisability of investing in the CIBC ETF. CIBC PWA does not offer any express or implicit guarantee or assurance with regard to the results of using the Index on which the CIBC ETF is based or the index prices at any time or in any other respect, and will not be liable with respect to the use or accuracy of the Index or any data included therein. The CIBC ETF prospectus contains more details on the limited relationship of CIBC PWA and CIBC Asset Management Inc. related to the CIBC ETF.
CIBC is a leading North American financial institution with 10 million personal banking, business, public sector and institutional clients. Across Personal and Small Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/ca/media-centre.
About CIBC Asset Management
CIBC Asset Management, Inc. (CAM), the asset management subsidiary of CIBC, provides a range of high-quality investment management services and solutions to retail and institutional investors. CAM’s offerings include: a comprehensive platform of mutual funds, strategic managed portfolio solutions, discretionary investment management services for high-net-worth individuals, and institutional portfolio management. CAM is one of Canada’s largest asset management firms, with over $170 billion in assets under administration as of October 2021.
SOURCE CIBC Asset Management Inc.