Hamilton Canadian Bank
Mean Reversion Index ETF

  • Ticker HCA
  • Yield % 5.54

A Smarter Way to Invest in Canadian Banks

Canadian Banks HCA

Highlights

Canadian bank ETF with exposure to the “Big Six” banks using a mean reversion strategy

+14.64% annualized return SI*As at January 31, 2024

5.54% yield; monthly distributions*An estimate of the annualized yield an investor would receive if the most recent distribution remained unchanged for the next 12 months, stated as a percentage of the price per unit on January 31, 2024

Mean reversion has long-term outperformance vs. equal weight strategies*Annualized returns of Solactive Canadian Bank Mean Reversion Index TR (SOLCBMRT) since inception on March 16, 2007 vs Solactive Equal Weight Canada Banks Index (SOLCBEW) as at January 31, 2024; source: Bloomberg, Solactive AG

FundGrade A+® Rating*For calendar year 2023 in the Financial Services Equity CIFSC Category. FundGrade A+® is used with permission from Fundata Canada Inc., all rights reserved. The annual FundGrade A+® Awards are presented by Fundata Canada Inc. to recognize the “best of the best” among Canadian investment funds. The FundGrade A+® calculation is supplemental to the monthly FundGrade ratings and is calculated at the end of each calendar year. The FundGrade rating system evaluates funds based on their risk-adjusted performance, measured by Sharpe Ratio, Sortino Ratio, and Information Ratio. The score for each ratio is calculated individually, covering all time periods from 2 to 10 years. The scores are then weighted equally in calculating a monthly FundGrade. The top 10% of funds earn an A Grade; the next 20% of funds earn a B Grade; the next 40% of funds earn a C Grade; the next 20% of funds receive a D Grade; and the lowest 10% of funds receive an E Grade. To be eligible, a fund must have received a FundGrade rating every month in the previous year. The FundGrade A+® uses a GPA-style calculation, where each monthly FundGrade from “A” to “E” receives a score from 4 to 0, respectively. A fund’s average score for the year determines its GPA. Any fund with a GPA of 3.5 or greater is awarded a FundGrade A+® Award. For more information, see www.FundGradeAwards.com. Although Fundata makes every effort to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Fundata.

What is Mean-Reversion?

Mean reversion is one of the most popular themes in Canadian bank investing, given the individual Canadian banks have tended to perform similarly over time.

HCA attempts to take advantage of these tendencies by rebalancing the portfolio quarterly and investing 80% of the portfolio in the 3 banks which have recently underperformed, and 20% in the 3 banks which have outperformed.

FUND OBJECTIVE

 

The fund is designed to closely track the returns of the Solactive Canadian Bank Mean Reversion Index TR, which applies a variable-weight, mean reversion trading strategy to Canada’s “Big Six” banks, with quarterly rebalancing.

The Solactive Canadian Bank Mean Reversion Index TR has outperformed an equal weight portfolio of Canada’s banks*Annualized returns of Solactive Canadian Bank Mean Reversion Index TR (SOLCBMRT) since inception on March 16, 2007 vs Solactive Equal Weight Canada Banks Index (SOLCBEW) as at January 31, 2024; source: Bloomberg, Solactive AG

Performance

  • TICKER HCA
  • NAV $21.09
  • 1 DAY CHANGE +$0.08
  • YIELD *

    Current annualized yield, as at January 31, 2024

    5.54%
  • ASSETS $73.8M

Total Returns (incl. Dividends)

As at January 31, 2024

  • ticker 0.00%
  • 1 month -1.94%
  • 3 months 19.32%
  • 6 months 2.92%
  • year to date -1.94%
  • 1 year 0.20%
  • 3 years* 10.10%
  • inception* 14.64%
  • as of date 202400.00%

Growth of $10,000 Invested

As at January 26, 2024

Solactive Canadian Bank Mean Reversion Index TR vs Solactive Equal Weight Canada Banks Index

Value of 10,000 of Solactive Canadian Bank Mean Reversion Index TR (SOLCBMRT) vs Solactive Equal Weight Canada Banks Index (SOLCBEW) with annual compounded total returns since inception on March 16, 2007, as at January 31, 2024. Source: Bloomberg, Solactive AG

  • Overview
  • Distributions
  • Documents

Holdings

As at January 31, 2024

tickernameweight
BNSBank of Nova Scotia26.0%
NANational Bank of Canada21.8%
TDToronto-Dominion Bank21.4%
CMCanadian Imperial Bank of Commerce12.0%
RYRoyal Bank of Canada11.8%
BMOBank of Montreal6.7%

Fund Details

 

All Hamilton ETFs are available for purchase on the Toronto Stock Exchange (TSX), and can be used in RRSP, RRIF, DPSP, RDSP, FHSA, RESP and TFSA portfolios. To set up a DRIP, please contact your individual brokerage.
TickerHCA
ExchangeToronto Stock Exchange (TSX)
CUSIP40704K100
Inception DateJune 26, 2020
Investment StyleIndex-based, mean reversion strategy
BenchmarkSolactive Canadian Bank Mean Reversion Index
Assets$73.8M CAD*
Current Annualized Yield5.54%*
DistributionsMonthly
RebalancingQuarterly
Management Fee0.29%
Risk RatingMedium
AuditorKPMG LLP
Legal Entity Identifier549300ZKTX737BJCLT27

Distributions

HCA distributions are paid monthly in cash, or if the unitholder has enrolled in the dividend reinvestment plan (DRIP), reinvested in additional units of the ETF. To set up a DRIP, please contact your individual brokerage. The annual tax information is available here.
Ex-Dividend DatePaidFrequencyAmount
2024-02-282024-03-07Monthly$0.0960
2024-01-302024-02-09Monthly$0.0960
2023-12-282024-01-08Special (cash)$0.1605
2023-12-282024-01-08Monthly$0.0960
2023-11-292023-12-07Monthly$0.0960
2023-10-302023-11-07Monthly$0.0960
2023-09-282023-10-06Monthly$0.0960
2023-08-302023-09-08Monthly$0.0960
2023-07-282023-08-08Monthly$0.0960
2023-06-292023-07-10Special (cash)$0.6000
2023-06-292023-07-10Monthly$0.0960
2023-05-302023-06-07Monthly$0.0960
2023-04-272023-05-05Monthly$0.0960
2023-03-302023-04-13Monthly$0.0960
2023-02-272023-03-10Monthly$0.0960
2023-01-302023-02-10Monthly$0.0960
2022-12-292023-01-12Monthly$0.0960
2022-11-292022-12-12Monthly$0.0960
2022-10-282022-11-10Monthly$0.0960
2022-09-282022-10-13Monthly$0.0960
2022-08-302022-09-13Monthly$0.0960
2022-07-282022-08-11Monthly$0.0960
2022-06-292022-07-13Monthly$0.0960
2022-05-302022-06-10Monthly$0.0925
2022-04-282022-05-11Monthly$0.0925
2022-03-302022-04-12Monthly$0.0925
2022-02-252022-03-10Monthly$0.0925
2022-01-282022-02-10Monthly$0.090
2021-12-302022-01-13Special (non-cash)$1.80801
2021-12-302022-01-13Monthly$0.090
2021-11-292021-12-10Monthly$0.085
2021-10-282021-11-10Monthly$0.080
2021-09-282021-10-13Monthly$0.080
2021-08-302021-09-13Monthly$0.080
2021-07-292021-08-12Monthly$0.080
2021-06-292021-07-13Monthly$0.080
2021-05-282021-06-10Monthly$0.080
2021-04-292021-05-12Special (cash)$0.100
2021-04-292021-05-12Monthly$0.075
2021-03-302021-04-13Monthly$0.075
2021-02-252021-03-10Monthly$0.072
2021-01-282021-02-10Monthly$0.072
2020-12-302021-01-13Special (cash)$0.26041
2020-12-302021-01-13Monthly$0.072
2020-11-272020-12-10Monthly$0.072
2020-10-292020-11-12Monthly$0.072
2020-09-292020-10-13Monthly$0.070
2020-08-282020-09-11Monthly$0.070

You can view public filings for the Hamilton Canadian Bank Mean Reversion Index ETF on SEDAR.

Press Releases

View the latest HCA Press Releases

Fact Sheet

HCA Fact Sheet (2024-01-31) English Français

ETF Facts

HCA ETF Facts (2023-03-27) English Français

Prospectus

HCA Prospectus (2023-03-27) English Français

Financial Statements

Annual Financial Statements (2022-12-31) English Français
Interim Financial Statements (2023-06-30) English Français

Latest Portfolio Summary

Q3 2023 Portfolio Summary (2023-09-30) Download

Independent Review Committee

2022 Annual Report to Securityholders (2023-03-21) Download

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