The fund offers modest leverage and enhanced income through a covered call strategy.
Evolve Funds Group (Evolve), a Toronto-based exchange-traded fund (ETF) provider, has launched the Evolve Nasdaq Technology UltraYield ETF (TECY), which closed its initial offering and began trading on the Toronto Stock Exchange on 13 August. The ETF’s strategy combines a portfolio of technology equities with a covered call writing programme The fund aims to provide modestly leveraged exposure to leading technology companies within the Nasdaq 100 index, while generating enhanced