Not registered. Not advice. DecodeETF is an information service. We are not registered as an adviser, dealer, or investment fund manager with the Ontario Securities Commission or any Canadian provincial regulator. Nothing on this site is a recommendation, solicitation, or offer to buy or sell any security. Past performance is not indicative of future results, and all investing carries risk including the loss of principal. Speak with a registered financial professional before making investment decisions.
First Trust Portfolios Canada
A U.S. covered-call equity fund: 11 stocks, 100% United States, hedged to Canadian dollars, for 0.85% a year.
Funds of this type differ on a small set of facts. Where this fund sits on each:
Equity exposure with a covered-call overlay. Returns come from the underlying equity basket plus option income, with some upside typically traded away for higher cash distributions.
| Concentration | Top 10 holdings = 100.0% of the fund | holdings↓ |
| Fee | 0.85% per year | costs↓ |
| Currency | CAD-hedged | facts↓ |
| Wrapper | Covered call / options | holdings↓ |
How this fund works
Uses an options ladder to shape gains and losses over a defined outcome period.
Percentages are gross notional exposure, not money invested. Contracts can control more than the fund's assets.
Top holding: Option on S&P 500 PR Aug26 104.5% (concentrated) · Top region: United States 100.0% (single-country)
United States 100.0%
Source: fund provider disclosure.
The management fee was 0.85% a year, or about $85 for every $10,000 held. The options overlay is run inside the fund, so there is no separate fee, though it changes the return and distribution profile. Trading spreads are separate from this fee. This is the management fee as published by the provider; the total expense ratio can be slightly higher once fund operating costs are added.
Mostly capital gains
The full distribution tax character across 2 years, plus what you keep after tax in a TFSA, RRSP, or non-registered account, is on the Real Yield report card.
See the full tax breakdown →For information only, not tax advice. Tax treatment depends on your account type and personal circumstances; consult a qualified tax professional.
How durable the fund is, and what moved its price.
| Assets | $22M· net assets |
| Listed | 2019· 6 years of history |
| Leverage / overlay | Options overlay |
What moved the price
| Ticker | AUGB.F.TO |
| Exchange | TSX |
| Currency | CAD |
| FX strategy | CAD-hedged |
| Asset class | Equity |
| Structure | Covered call / options |
| Theme | Broad Market |
| Geography | United States |
| Provider | First Trust Portfolios Canada |
| Mgmt fee | 0.85% |
Compare AUGB.F.TO→Backtest it→Rate your portfolio→Real Yield report card→
Prices as of last close · tax character year 2025.
What Premium adds