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Solactive is pleased to announce a further collaboration with Evolve ETFs with the launch of Evolve Canadian Energy Enhanced Yield Index Fund, which tracks the Solactive Canada Energy Top 10 Index. Evolve Canadian Energy Enhanced Yield Index Fund provides investors with targeted exposure to the largest Canadian energy companies listed on the Toronto Stock Exchange (TSX) capturing the performance and growth potential as global energy demand continues to rise.
The Canadian energy sector continues to be an important pillar of the economy. Energy-related exports reached $199.1 billion in 2023, accounting for a significant portion of the country’s trade balance.[1] The energy sector remains a key driver of economic activity. Capital expenditure amounts to $92 billion, of which $39.2 billion is for oil and gas extraction.[2]
The Solactive Canada Energy Top 10 Index is designed to track the performance of Canada’s largest energy companies by selecting the top ten securities based on free-float market capitalization. The index includes companies operating in key segments of the energy industry, such as oil and gas production, integrated oil, refining and marketing, coal, contract drilling, oilfield services and equipment, and oil and gas pipelines. The index applies a quarterly equal weighting.
The fund listed on 27th March on the Toronto Stock Exchange (TSX) with the ticker code “OILY”.
Timo Pfeiffer, Chief Markets Officer at Solactive, commented:“We are delighted to be working with Evolve ETFs once again. The Canadian energy sector continues to be a powerhouse of economic activity, a fascinating intersection of tradition and change. The Solactive Canada Energy Top 10 Index ensures an accurate and transparent approach to capturing this dynamic sector, making it an essential tool for investors looking to gain exposure to the Canadian energy sector and gain exposure to the leading companies driving the industry forward”
“We’re excited to expand our suite of Canadian covered call ETFs with the launch of the Evolve Canadian Energy Enhanced Yield Index Fund (TSX:OILY),” says Raj Lala, President and CEO at Evolve ETFs. “As a cornerstone of the Canadian economy, the energy sector continues to be a key driver of broad market performance – offering a compelling opportunity for investors. OILY will employ our actively managed covered call strategy and modest 25% leverage to provide investors with enhanced, tax-efficient income.”
[1] Energy Fact Book, 2024-2025: Key energy, economic, and environmental indicators
