HAP Enhanced Income Equity ETF (HEX.TO) Buy,…

HAP Enhanced Income Equity ETF (HEX.TO)

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COMMENT

For a covered call strategy, this is as good as any in Canada. The real question is if you want to pursue a covered call strategy.

COMMENT

Believes there are 28 securities in this one and Calls are written on all 28. Basically has the same sector breakdown as the TSX and works exactly the same.

DON'T BUY

Because it is covered calls, you are getting your premiums in the door but some people are looking at the quoted yield and are relying on that but the underlying stocks go down by the same amount. There can be volatility in the underlying stocks and they will gobble out all your returns.

DON'T BUY

Why is this ETF down since it is supposed to be strong during volatile times? He would disagree that it is supposed to be strong in volatile times, but just the opposite. This is a covered call ETF that writes Call Options on its underlying securities. While in the normal course while markets are steadily rising this would add benefit to your portfolio.

COMMENT

Thinks this is the TSX with a covered call strategy against it. There tends to be a slow and steady drag on the future capital appreciation but you are getting paid a nice dividend yield in the meantime. If you are out rightly bullish on the market, access the underlying market on its own.

WEAK BUY

Covered calls. Don’t be too heavily weighted for the long run.

COMMENT

Enhanced Income Equity ETF. Equal weighted 30 largest Canadian stocks. Like the market, it has dropped but is now coming back. Enhancement of the income is the covered call strategy. Gives you market like-return with less than market volatility and less down when things go down but less up when things go up.

BUY

Enhanced Income Equity ETF. Because of their covered calls, they have done a fairly good job of protecting and having a fairly good income stream on a monthly basis.

TOP PICK

Enhanced Income Equity ETF. A defensive of play because it uses the covered call strategy. It can go down but is equal weighted with 30 of the largest companies in Canada so is broadly diversified. Solid income.

BUY

Enhanced Income Equity ETF. Likes this one. Similar to BMO’s Covered Call Cdn Banks ETF (ZWB-T) and is primarily based on the financials. Always keep in mind that the quoted yield you see on any of these covered call products are very much dependent on the underlying security.

BUY

Enhanced Income Equity ETF. This one is predicated on the TSX 30. One of the few that he likes.

COMMENT

Enhanced Income Equity ETF. Volatility as an asset class is a very good place to be as opposed to buying fixed income securities. Covered call strategy is a good place to be.

COMMENT

Enhanced Income Equity ETF. This is a covered writing fund and is not on a specific sector and is on 30 big companies in the TSX 60. Option premiums that are being generated is being paid out as a distribution. You have to believe that the manager has the capability of rolling the positions to offset some of the risks.

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