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Opinion for iShares Canadian Financial Monthly Income E.T.F. (FIE.A-T)

Signal Price Bias Subject Owned

The distribution on this is somewhat fixed. They are paying out north of a 6%-7% yield. If you look at what is in it, there is nothing that yields that much. Looking at all the banks and the other income generating securities this owns, the average is about 4%. This is paying out about 3% extra, which is capital gain you would’ve otherwise been getting from the share price. This is why you are not seeing a lot of upside in the price movement of this ETF.

Larry Berman CFA, CMT, CTA
Chief Investment Officer, Partner, ETF Capital Management Inc.

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