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  5. HMAX: Please give me your opinion about this AND an alternative Bank ETF. [Hamilton Canadian Financials YIELD MAXIMIZER TM ETF]
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Q: Please give me your opinion about this AND an alternative Bank ETF. Thanks!
Asked by Austin on April 16, 2025
5i Research Answer:

CBNK uses 25% leverage and options to enhance income. Indicated yield is 9.20%. Units are down 7.9% this year. Assets are $66M. Fees 0.65%. We would be comfortable with this for an investor seeking enhanced income in the banking sector AND understands leverage. It did outperform the banking sector last year. HMAX also focuses on banks, does not use leverage, and writes at-the-money call options. This boosts income (indicated 15.15%) and has helped in the downturn a bit (YTD -5.52%). 

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