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Global X S&P 500 Covered Call ETF (XYLD)
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Hamilton Canadian Financials YIELD MAXIMIZER TM ETF (HMAX)
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Hamilton Technology YIELD MAXIMIZER TM ETF (QMAX)
Q: Good morning,
What an amazing job done here. My son is enrolled in a private school starting this year.
I'd like to tailor my non-registered to an income account to cover his monthly payments with capital preservation in mind.
I am comfortable with any and all options including covered call.
Rough metrics for this are 120k. Yielding 6% and greater.
Thank you very much.
What an amazing job done here. My son is enrolled in a private school starting this year.
I'd like to tailor my non-registered to an income account to cover his monthly payments with capital preservation in mind.
I am comfortable with any and all options including covered call.
Rough metrics for this are 120k. Yielding 6% and greater.
Thank you very much.
5i Research Answer:
A 6% hurdle on yield alone may be tough without 'enhanced' funds. But if one considers total return over yield it should be more doable. Funds such as HMAX, QMAX used at-the-money call options and do offer high yields. CNCC is a CC fund on the TSX yielding 10%+; HDIV indicated yield is 12.4%. Some of these yields will vary with option prices, and these funds can still decline. XYLD offers 8.13%. Some companies offer close to 6% or 6%+, such as ENB, BNS, BCE, T, AD.UN and ETF (5.8%).