Evolve Funds Group has listed an income focused ETF on the Toronto Stock Exchange, offering exposure to Canada’s six largest banks through a covered call strategy.

Evolve Funds Group (Evolve) has launched the Evolve Big Six Canadian Banks UltraYield Index ETF (ticker: SIXY) on the Toronto Stock Exchange, according to the fund’s announcement. The ETF has closed its initial offering of units and began trading on 3 December as an unhedged ETF unit class. The first payout is scheduled for 22 December, with an ex-date of 15 December, at US$0.21000 per unit SIXY gives investors exposure to Canada’s major banks: Royal Bank of Canada, Toronto Domin