TORONTO, July 23, 2024 /CNW/ - Evolve Funds Group Inc. ("Evolve") is pleased to announce that Evolve NASDAQ Technology Index Fund ("QQQT") is Canada's best performing technology ETF over the past 1 year1. QQQT is Canada's first Nasdaq-100® technology-focused ETF that provides investors with market cap exposure to only the companies deemed "technology" within the Nasdaq-100 Index®. QQQT trades on the Toronto Stock Exchange ("TSX") under ticker symbols: QQQT (CAD hedged), QQQT.B (CAD unhedged), QQQT.U (USD) and is available in mutual fund versions.
Annualized Performance
TSX Ticker
1 Year
QQQT.B
63.54 %
QQQT.U
58.77 %
QQQT
57.46 %
Source: Bloomberg, as at July 11, 2024. Performance since inception of QQQT.B, QQQT.U and QQQT on July 11, 2023. 1 Source: Bloomberg as at July 11, 2024. QQQT.B ranked #1, QQQT.U ranked #3 and QQQT ranked #5 out of 38 Canadian-listed technology ETFs (excluding levered ETFs) over the last 1 year.
"When investors contemplate their technology allocation, they often refer to the Nasdaq-100 Index®, however, it was never designed to be just a technology index," says Raj Lala, President and CEO at Evolve ETFs. "In fact, only 41 of the 100 companies in the Index are classified in the technology sector. The Evolve NASDAQ Technology Index Fund provides investors with access to the performance of these technology companies. The result, pure play access to the technology sector of the Nasdaq-100 Index® in one ETF."
QQQT seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of the Nasdaq-100 Technology Sector Adjusted Market-Cap Weighted™ Index, or any successor thereto (the "Index"). The Index is designed to measure the performance of the technology companies in the Nasdaq-100 Index®, which measures the performance of 100 of the largest non-financial companies listed on Nasdaq. The Index consists of a selection of securities in the Nasdaq-100 Index® which must be classified as a "technology company" (i.e., any company classified under the "technology industry") according to the Industry Classification Benchmark (ICB). No issuer weight may exceed 10% of the Index.
About Evolve Funds Group Inc.
With over $7 billion in assets under management, Evolve is one of Canada's fastest growing ETF providers since launching its first ETF in September 2017. Evolve is a leader in thematic ETFs and specializes in bringing innovative ETFs to Canadian investors. Evolve's suite of ETFs provide investors with access to: (i) long term investment themes; (ii) index-based income strategies; and (iii) some of the world's leading investment managers. Established by a team of industry veterans with a proven track record of success, Evolve creates investment products that make a difference. For more information, please visit www.evolveetfs.com.
Commissions, trailing commissions, management fees and expenses all may be associated with exchange traded funds (ETFs) and mutual funds. Please read the prospectus before investing. The indicated rates of return are the historical annual compound total returns net of fees (except for figures of one year or less, which are simple total returns) including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. ETFs and mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
The rates of return shown in the table are used only to illustrate the effects of the compound growth rate and is not intended to reflect future values of the ETF and mutual fund or returns on investment in the ETF and mutual fund.
Please read the prospectus before investing.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to a future outlook and anticipated distributions, events or results and may include statements regarding future financial performance. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "anticipate", "believe", "intend" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Evolve undertakes no obligation to update publicly or otherwise revise any forward-looking statement whether as a result of new information, future events or other such factors which affect this information, except as required by law.
Nasdaq®, Nasdaq-100®, Nasdaq-100 Index®, Nasdaq-100 Technology Sector Adjusted Market-Cap Weighted™ Index are trademarks of Nasdaq, Inc. (which with its affiliates is referred to as the "Corporations") and are licensed for use by Evolve ETFs. The Product(s) have not been passed on by the Corporations as to their legality or suitability. The Product(s) are not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT(S).
