Evolve Announces Changes to Risk Rating for Certain Funds
TORONTO, Aug. 16, 2024 /CNW/ - Evolve Funds Group Inc. ("Evolve") announces the following changes to the risk rating of certain funds (the "Evolve Fund"), as indicated in the table below.
Evolve Fund |
Ticker/ Fund Code |
Previous Risk Rating |
New Risk Rating |
Evolve Cyber Security Index Fund – USD Unhedged |
CYBR.U |
Medium to High |
High |
Evolve Future Leadership Fund – USD Unhedged ETF |
LEAD.U |
Medium |
Medium to High |
Evolve NASDAQ Technology Enhanced Yield Index |
QQQY |
Medium |
Medium to High |
Evolve NASDAQ Technology Enhanced Yield Index |
QQQY.B |
Medium |
Medium to High |
Evolve NASDAQ Technology Enhanced Yield Index |
QQQY.U |
Medium |
Medium to High |
Evolve NASDAQ Technology Enhanced Yield Index |
EVF900 |
Medium |
Medium to High |
Evolve NASDAQ Technology Enhanced Yield Index |
EVF901 |
Medium |
Medium to High |
The investment risk level of an ETF and mutual fund (the "Fund") is determined in accordance with a standardized risk classification methodology, set out in National Instrument 81-102 Investment Funds, that is based on the historical volatility of the Fund, as measured by the 10-year standard deviation of the returns of the Fund. If a Fund has less than 10 years of performance history, the investment risk level of the Fund is calculated using the return history of the Fund, and, for the remainder of the 10-year period, the return history of a reference index that is expected to reasonably approximate the standard deviation of the Fund.
No changes have been made to the investment objectives or strategies of the Evolve Fund as a result of the changes to the risk rating. A summary of the risk rating classification methodology, and the investment objectives and strategies of the Evolve Fund, can be found in the most recently filed prospectus for the Evolve Fund, listed above.
Commissions, management fees and expenses all may be associated with exchange traded funds (ETFs). ETFs are not guaranteed, their values change frequently and past performance may not be repeated. There are risks involved with investing in ETFs. Please read the prospectus for a complete description of risks relevant to ETFs. Investors may incur customary brokerage commissions in buying or selling ETF units. Please read the prospectus before investing.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to a future outlook and anticipated distributions, events or results and may include statements regarding future financial performance. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "anticipate", "believe", "intend" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Evolve undertakes no obligation to update publicly or otherwise revise any forward-looking statement whether as a result of new information, future events or other such factors which affect this information, except as required by law.
About Evolve Funds Group Inc.
With $7 billion in assets under management, Evolve is one of Canada's fastest growing ETF providers since launching its first ETF in September 2017. Evolve specializes in bringing innovative ETFs to Canadian investors. Evolve's suite of ETFs provide investors with access to: (i) index-based income strategies; (ii) long term investment themes; and (iii) some of the world's leading investment managers. Established by a team of industry veterans with a proven track record of success, Evolve creates investment products that make a difference. For more information, please visit www.evolveetfs.com.
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SOURCE Evolve ETFs
CONTACT INFORMATION: Evolve Funds Group Inc., [email protected], tf. 1.844.370.4884; MEDIA CONTACT: Keith Crone, [email protected], 416.966.8716
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