TORONTO — NEO is proud to welcome another world first as Purpose Investments Inc. (“Purpose”) returns to the NEO Exchange to launch Yield Shares ETFs, the first yield-focused single stock ETFs that seek to provide investors with a monthly yield while investing in some of the most well-known global public companies.
Each Yield Shares ETF seeks to provide unitholders with long-term capital appreciation through purchasing and holding shares of an individual company coupled with the use of leverage, covered call options, and/or cash covered put options to generate monthly cash distributions. Each Yield Shares ETF will hedge substantially all of its U.S. dollar exposure hedged back to Canadian dollars.
The first five Yield Shares by Purpose, and their tickers, are listed below:
- Alphabet (GOOGL) Yield Shares Purpose ETF – YGOG
- Amazon (AMZN) Yield Shares Purpose ETF – YAMZ
- Apple (AAPL) Yield Shares Purpose ETF – APLY
- Berkshire Hathaway (BRK) Yield Shares Purpose ETF – BRKY
- Tesla (TSLA) Yield Shares Purpose ETF – YTSL
“Over the years, Purpose has consistently earned a reputation for innovation in the investment industry,” said Erik Sloane, Chief Revenue Officer at NEO, “and the all-new Yield Shares by Purpose are the latest way investors can get more optionality in how they invest abroad. With today’s launch, NEO is proud to continue supporting Purpose as their exchange partner, and we are honoured to deliver a best-in-class platform providing superior access and visibility for investors and financial advisors.”
“We’re excited to offer investors the world’s first opportunity, via a single ETF product, to earn enhanced monthly yield from holding their favourite individual stocks like Tesla or Apple,” added Vlad Tasevski, Chief Operating Officer and Head of Product at Purpose. “The Yield Shares ETF suite will provide investors with a new tool that will complement their existing individual stock holdings by providing them with attractive yield every month.”
The first five Yield Shares will join the extensive list of Purpose ETFs and Closed End Funds listed on the NEO Exchange. Investors can trade units of the Yield Shares by Purpose through their usual investment channels, including discount brokerage platforms and full-service dealers.
The NEO Exchange is home to over 265 unique listings, including ETFs from Canada’s largest ETF issuers and some of the most innovative Canadian and international growth companies. NEO consistently facilitates close to 20% of all volume traded in Canadian ETFs, and between 10% and 15% of all volume traded in Canadian-listed companies. Click here for a complete view of all NEO-listed securities.
About the NEO Exchange
The NEO Exchange is Canada’s Tier 1 stock exchange for the innovation economy, bringing together investors and capital raisers within a fair, liquid, efficient, and service-oriented environment. Fully operational since 2015 and acquired by Cboe Global Markets in 2022, NEO provides access to trading across all Canadian-listed securities on a level playing field. NEO lists companies and investment products seeking an internationally recognized stock exchange that enables investor trust, quality liquidity, and broad awareness including unfettered access to market data.
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About Purpose Investments
Purpose Investments is an asset management company with more than $14 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation, offering a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent, technology-driven financial services platform that is reshaping the industry by connecting and creating opportunities across asset management, wealth management and small business financial services. For more information on Yield Shares by Purpose, click here.
Connect with Purpose: Website | LinkedIn | Twitter