HAP Enhanced Income Equity ETF

HEX-T

Analysis and Opinions about HEX-T

Signal
Opinion
Expert
COMMENT
COMMENT
May 16, 2018

This is an enhanced income covered call Canadian ETF. It is a yield vehicle and not a growth strategy. In up trending markets this will underperform the market due to the covered calls being sold. It is better for steady income. MER is 0.82% Yield 5.7%.

This is an enhanced income covered call Canadian ETF. It is a yield vehicle and not a growth strategy. In up trending markets this will underperform the market due to the covered calls being sold. It is better for steady income. MER is 0.82% Yield 5.7%.

Daniel Straus
Head of ETF Research & Strategy, National Bank Financial
Price
$6.820
Owned
No
PAST TOP PICK
PAST TOP PICK
March 22, 2018

(A Top Pick July 11/17 - Up 0.6%) Basically it is a covered call on the TSX. He likes the product, but it is the Canadian market that he is not so thrilled about.

(A Top Pick July 11/17 - Up 0.6%) Basically it is a covered call on the TSX. He likes the product, but it is the Canadian market that he is not so thrilled about.

John Hood
President & Portfolio Manager, J. C Hood Investment.
Price
$6.560
Owned
No
BUY
BUY
November 23, 2017

It is a covered call ETF that is actively managed. It holds a basket of stocks. It is into typically Canadian exposure. It is difficult to judge whether it is going to outperform. It has a high yield (just over 5.2%). If you want this then it is a good investment.

It is a covered call ETF that is actively managed. It holds a basket of stocks. It is into typically Canadian exposure. It is difficult to judge whether it is going to outperform. It has a high yield (just over 5.2%). If you want this then it is a good investment.

Daniel Straus
Head of ETF Research & Strategy, National Bank Financial
Price
$6.860
Owned
Unknown
BUY
BUY
November 20, 2017

He likes this. A little more diversified than some of the Bank of Montréal (BMO-T) products, which are primarily the banks.

He likes this. A little more diversified than some of the Bank of Montréal (BMO-T) products, which are primarily the banks.

John Hood
President & Portfolio Manager, J. C Hood Investment.
Price
$6.850
Owned
Unknown
TOP PICK
TOP PICK
July 11, 2017

Basically 30% Banks, 20% energy, 10% utilities, etc. They have a whole bunch of stocks they do covered calls on. You are getting a good 5%-5.25% yield. It is all capital gains and dividends, not income.

Basically 30% Banks, 20% energy, 10% utilities, etc. They have a whole bunch of stocks they do covered calls on. You are getting a good 5%-5.25% yield. It is all capital gains and dividends, not income.

John Hood
President & Portfolio Manager, J. C Hood Investment.
Price
$6.520
Owned
No
WAIT
WAIT
January 18, 2016

Basically a TSX based ETF. 17% energy weighted. It is really a question of whether you think it is time to be stepping back into the Canadian market. There is an argument for it, but he would want to wait a few days to see what shakes out. These are pretty critical times right now.

Basically a TSX based ETF. 17% energy weighted. It is really a question of whether you think it is time to be stepping back into the Canadian market. There is an argument for it, but he would want to wait a few days to see what shakes out. These are pretty critical times right now.

John Hood
President & Portfolio Manager, J. C Hood Investment.
Price
$5.470
Owned
Unknown
BUY
BUY
August 7, 2015

This is a covered call strategy. He likes covered calls and has no problem in dealing with this one. Thinks it has a lot of bank stocks which he likes.

This is a covered call strategy. He likes covered calls and has no problem in dealing with this one. Thinks it has a lot of bank stocks which he likes.

John Hood
President & Portfolio Manager, J. C Hood Investment.
Price
$6.530
Owned
Unknown
COMMENT
COMMENT
June 29, 2015

He is not exactly sure what they are doing in this. Assumes it is a covered call fund and they are selling Covered Calls against a basket of equities that likely matchup with the TSX 60. His issue is that their prospectus basically says they are going to write covered calls against all of the stocks, all of the positions. If so, this puts the manager into an impossible position. If the stock rises, you are losing it. If it declines, you are writing a Call on a lower price, and you are never going to be able to get back to where you were. When you have a basket of stocks, you are compounding the effect.

He is not exactly sure what they are doing in this. Assumes it is a covered call fund and they are selling Covered Calls against a basket of equities that likely matchup with the TSX 60. His issue is that their prospectus basically says they are going to write covered calls against all of the stocks, all of the positions. If so, this puts the manager into an impossible position. If the stock rises, you are losing it. If it declines, you are writing a Call on a lower price, and you are never going to be able to get back to where you were. When you have a basket of stocks, you are compounding the effect.

Richard Croft
President, R.N. Croft Financial Group Inc.
Price
$6.680
Owned
Unknown
BUY
BUY
March 16, 2015

TSX 60 covered call overlay. Monthly distributions. In a sideways to down market you will outperform XIU-T, for example. You could trade these two off each other. For the next 3-5 months Canada will underperform the world markets.

TSX 60 covered call overlay. Monthly distributions. In a sideways to down market you will outperform XIU-T, for example. You could trade these two off each other. For the next 3-5 months Canada will underperform the world markets.

Larry Berman CFA, CMT, CTA
Chief Investment Officer, Partner, ETF Capital Management Inc.
Price
$7.000
Owned
Unknown
BUY
BUY
March 20, 2014

Covered call strategy. Capital distribution could be larger than dividend. Diversified and covered call so he likes that kind of fund.

Covered call strategy. Capital distribution could be larger than dividend. Diversified and covered call so he likes that kind of fund.

John Hood
President & Portfolio Manager, J. C Hood Investment.
Price
$7.445
Owned
Unknown
DON'T BUY
DON'T BUY
July 15, 2013

It had a lot of exposure to RIM so it had a big drag relative to the TSX. The covered call strategy has been working, however.

It had a lot of exposure to RIM so it had a big drag relative to the TSX. The covered call strategy has been working, however.

Larry Berman CFA, CMT, CTA
Chief Investment Officer, Partner, ETF Capital Management Inc.
Price
$6.940
Owned
Unknown
BUY
BUY
February 7, 2013

One thing you have to remember with Horizon’s products is that they are swapped based. But he really doesn’t see this is a problem. He avoids because some of his clients perceive them as having risk. Nothing wrong with this product.

One thing you have to remember with Horizon’s products is that they are swapped based. But he really doesn’t see this is a problem. He avoids because some of his clients perceive them as having risk. Nothing wrong with this product.

John Hood
President & Portfolio Manager, J. C Hood Investment.
Price
$7.400
Owned
No
PAST TOP PICK
PAST TOP PICK
October 4, 2012

(A Top Pick Oct 5/11. Up 6.12%.) He is liking it enough that he is holding it, but is not buying it for clients as a new position. Not as compelled as he was a year ago regarding covered call writing strategy. Hasn’t worked as well as he would like. If you own, continue holding unless you see another product that will work better for you.

(A Top Pick Oct 5/11. Up 6.12%.) He is liking it enough that he is holding it, but is not buying it for clients as a new position. Not as compelled as he was a year ago regarding covered call writing strategy. Hasn’t worked as well as he would like. If you own, continue holding unless you see another product that will work better for you.

John DeGoey
Portfolio Manager, Wellington-Altus Private Wealth Inc.
Price
$7.380
Owned
Yes
DON'T BUY
DON'T BUY
September 21, 2012

There are a lot of Covered Call ETFs out there that enhance income and give you a lot more money. Haven’t been doing all that well and he thinks it is because it is how the Covered Call works. For instance, he is going to buy a stock for $10 and Sell a Call on it and bring in some money. Calls work wonderfully in a flat or slightly trending market, otherwise he is not big on Call Options. Feels there is more money to be made by strictly buying equities because a Call Option is going to limit your upside.

There are a lot of Covered Call ETFs out there that enhance income and give you a lot more money. Haven’t been doing all that well and he thinks it is because it is how the Covered Call works. For instance, he is going to buy a stock for $10 and Sell a Call on it and bring in some money. Calls work wonderfully in a flat or slightly trending market, otherwise he is not big on Call Options. Feels there is more money to be made by strictly buying equities because a Call Option is going to limit your upside.

Michael Bowman
Portfolio Manager, Wickham Investment Management
Price
$7.350
Owned
Unknown
HOLD
HOLD
September 17, 2012

Caller is thinking of switching from this to S&P 500 Inverse ETF (HIU-T). The problem is that when people are looking at the yield being offered, it is often showing 6%-7% but you have to remember that as a covered call and is predicated on the underlying stock. If they are showing volatility, you may be getting your percent but losing on your capital. Doesn’t think it is a good idea to Short and he would continue holding this one.

Caller is thinking of switching from this to S&P 500 Inverse ETF (HIU-T). The problem is that when people are looking at the yield being offered, it is often showing 6%-7% but you have to remember that as a covered call and is predicated on the underlying stock. If they are showing volatility, you may be getting your percent but losing on your capital. Doesn’t think it is a good idea to Short and he would continue holding this one.

John Hood
President & Portfolio Manager, J. C Hood Investment.
Price
$7.410
Owned
Unknown
COMMENT
COMMENT
September 4, 2012

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.

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.

John DeGoey
Portfolio Manager, Wellington-Altus Private Wealth Inc.
Price
$7.230
Owned
Yes
COMMENT
COMMENT
June 19, 2012
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.
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.
Michael Bowman
Portfolio Manager, Wickham Investment Management
Price
$7.370
Owned
Unknown
DON'T BUY
DON'T BUY
June 1, 2012
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.
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.
John Hood
President & Portfolio Manager, J. C Hood Investment.
Price
$7.070
Owned
Unknown
DON'T BUY
DON'T BUY
May 22, 2012
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.
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.
Vikash Jain, CFA
Portfolio Manager, ArcherETF
Price
$7.160
Owned
Unknown
COMMENT
COMMENT
April 3, 2012
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.
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.
Mike S. Newton, CIM FCSI
Director & Portfolio Manager, Scotia Wealth Management
Price
$7.750
Owned
Unknown
WEAK BUY
WEAK BUY
March 8, 2012
Covered calls. Don’t be too heavily weighted for the long run.
Covered calls. Don’t be too heavily weighted for the long run.
Mike S. Newton, CIM FCSI
Director & Portfolio Manager, Scotia Wealth Management
Price
$7.880
Owned
Unknown
COMMENT
COMMENT
February 27, 2012
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.
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.
John DeGoey
Portfolio Manager, Wellington-Altus Private Wealth Inc.
Price
$8.010
Owned
Unknown
BUY
BUY
November 9, 2011
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.
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.
John DeGoey
Portfolio Manager, Wellington-Altus Private Wealth Inc.
Price
$8.100
Owned
Unknown
TOP PICK
TOP PICK
October 5, 2011
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.
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.
John DeGoey
Portfolio Manager, Wellington-Altus Private Wealth Inc.
Price
$7.850
Owned
No
BUY
BUY
September 16, 2011
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.
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.
John Hood
President & Portfolio Manager, J. C Hood Investment.
Price
$8.510
Owned
Unknown
BUY
BUY
July 29, 2011
Enhanced Income Equity ETF. This one is predicated on the TSX 30. One of the few that he likes.
Enhanced Income Equity ETF. This one is predicated on the TSX 30. One of the few that he likes.
John Hood
President & Portfolio Manager, J. C Hood Investment.
Price
$9.040
Owned
Unknown
COMMENT
COMMENT
June 29, 2011
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.
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.
Prakash Hariharan
Portfolio Manager, Analytixinsight Inc.
Price
$9.400
Owned
No
COMMENT
COMMENT
June 24, 2011
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.
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.
Richard Croft
President, R.N. Croft Financial Group Inc.
Price
$9.340
Owned
Unknown
Showing 1 to 28 of 28 entries
  • «
  • 1
  • »