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Mulvihill Canadian Bank Enhanced Yield ETF Announces Year End Results

TORONTO, March 28, 2025 (GLOBE NEWSWIRE) -- (TSX:CBNK) Mulvihill Canadian Bank Enhanced Yield ETF (the "Fund") announces results of operations for the year ended December 31, 2024. Increase in net assets attributable to holders of units amounted to $27.25 million or $2.00 per unit. As at December 31, 2024, net assets attributable to holders of units were $122.66 million or $8.43 per unit. Cash distributions to unitholders totaling $9.65 million or $0.70 per unit were paid during the year.

The Fund is a mutual fund investment trust that seeks to provide unitholders with long-term capital appreciation through exposure to a portfolio consisting principally of common shares of Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada and The Toronto-Dominion Bank (collectively, the "Banks") and monthly cash distributions.

In order to achieve its investment objectives, the Fund will purchase and hold substantially all of its assets in common shares of the Banks, while adding modest leverage of 25.0 percent. The Fund will also write call and put options on a portion of its portfolio to seek to generate investment returns and, in the case of put options, acquire securities at predetermined prices in a manner that reduces acquisition costs. The Fund seeks to achieve a 7.0 percent yield, with additional capital growth potential beyond such yield target.

The Fund's investment portfolio is managed by its investment manager, Mulvihill Capital Management Inc. The Fund's Units are listed on the Toronto Stock Exchange under the symbol CBNK.

Selected Financial Information: ($ Millions)

Statement of Financial Position as at December 31st