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Guardian Capital
A covered-call equity fund: 30 stocks, 75% United States, unhedged, 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.
Top holding: Alphabet Inc Class A 9.0% (broad) · Top sector: Technology 17.7% (broad) · Top region: United States 74.7% (region-tilted)
Technology 17.7%·Communication Services 16.8%·Healthcare 16.5%·Consumer Discretionary 15.9%·Financials 13.8%·Other 6.8%·Other (locked) 12.4%
United States 74.7%·Europe 20.7%·Japan 3.0%·Canada 1.4%
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.
How durable the fund is, and what moved its price.
| Assets | $11M· net assets |
| Listed | 2020· 5 years of history |
| Leverage / overlay | Options overlay |
What moved the price
| Ticker | GGEP.TO |
| Exchange | TSX |
| Currency | CAD |
| FX strategy | CAD-unhedged |
| Asset class | Equity |
| Structure | Covered call / options |
| Theme | Broad Market |
| Geography | Global / World |
| Provider | Guardian Capital |
| Mgmt fee | 0.85% |
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Prices as of last close.
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