Not All Covered Call Strategies Are Created Equal

Generate growth and income with the TD Enhanced Dividend ETFs: TD Active Global Enhanced Dividend ETF (TGED), TD Active U.S. Enhanced Dividend ETF (TUED) and TD Active U.S. Enhanced Dividend CAD Hedged ETF (TUEX). Managed by TD Asset Management Inc. (TDAM), one of the largest and most experienced investment managers in Canada.

For more information on TD ETFs and ETFs in general visit our TD ETF Resource Centre.

TDAM Talks ETFs: Income or Growth. Choose both with TGED & TUED (videocast)
View our videocast for a deep dive on what differentiates the TD Enhanced Dividend ETFs from other ETFs in the marketplace.

Income or Growth? Choose both with TGED, TUED & TUEX

收入

Income is generated through dividends paid from underlying holdings and from option strategies like selling calls and puts.
增長

Unlike some systematic covered call strategies, that pay high distributions yields at the expense of growth, the TD Enhanced Dividend ETFs are thoughtfully designed to focus on total return by actively investing in quality companies and then tactfully employing options to generate income, while maintaining exposure to the growth potential of stocks.

What is an Enhanced Dividend?

The TD Enhanced Dividend ETFs were designed to resolve the specific challenge of balancing growth and income in the search for yield. The strategy behind addressing this challenge is to generate highly attractive income through a differentiated option overlay strategy. Unlike many competitor products, these ETFs use an active approach in selecting stocks and writing options. Below we illustrate how an enhanced yield or dividend is obtained.

派息率
Call Option Yield
Put Option Yield
Enhanced Yield

Currency Hedging

Many Canadian investors will get exposure to international investments through a Canadian based exchange-traded fund (ETF) or mutual fund. The fund will typically be priced in CAD while the fund's underlying investments will be priced in other currencies, like the U.S. dollar. This creates potential foreign currency exposure risk-the value of an investment held by a fund will be affected by changes in the value of the currency in which the investment is denominated, relative to the base currency of the fund. TD Active U.S. Enhanced Dividend CAD Hedged ETF (TUEX) invests directly in units of TUED and attempts to minimize the effects of currency swings on the investment portfolio through a currency overlay strategy using derivatives.

重要資料


	TGED TGED.U	TUED TUED.U	TUEX
姓名	道明活躍型全球增強股息交易所買賣基金	道明活躍型美國增強股息交易所買賣基金	TD Active美國增強型股息分派加元對沖ETF
基準	摩根士丹利資本國際世界指數（加元，淨股息）	S&P 500指數 (淨股息，總回報)	標準普爾500加元對沖指數（淨股息、總回報）
Management Fee (%)	0.65	0.65	0.65
Risk Rating	適中	適中	適中
分紅次數	每月一次	每月一次	每月一次
Expected Distribution Yield (%) (As of Dec 31, 2023)	4.0 (TGED) 4.2 (TGED.U)	2.8 (TUED) 3.0 (TUED.U)	3.1

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本文所含資訊由道明資產管理有限公司提供，僅供參考。內容乃出自可靠之來源匯編而成。本文並不提供任何財務、法律、稅務或投資建議。衡量個別投資、稅務或交易策略時，應考慮個別人士的目標和風險承受能力。

進行交易所買賣基金投資可能需要負擔相關佣金、管理費以及支出。投資前請參閱招股章程和摘要文件。交易所買賣基金沒有擔保，其價值可能經常變化，且過去表現未必會重現。交易所買賣基金的單位在證券交易所按市場價格進行買賣，因此經紀人佣金的收取會減少回報。指數回報不代表道明交易所買賣基金的回報。所顯示的回報率為所示期間的歷史總回報率，包括單位價值變動和所有分紅的再投資，且並未考慮任何單位持有人的贖回、佣金或應付所得稅，而這些部分都可能會減少回報。過往業績或許未能重現。

TD ETFs are managed by TD Asset Management Inc., a wholly-owned subsidiary of The Toronto-Dominion Bank

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