Harvest Announces Filing of Preliminary Prospectus for Six New High-Income ETFs
Harvest Portfolios Group Inc. (“Harvest”) is excited to announce that it has filed a preliminary prospectus with Canadian securities regulators for the launch of six new ETFs under its High Income Shares series. These include the Harvest MicroStrategy High Income Shares ETF (“MSTY”), Harvest Coinbase High Income Shares ETF (“CONY”), Harvest Palantir Enhanced High Income Shares ETF (“PLTE”), Harvest Tesla Enhanced High Income Shares ETF (“TSLY”), Harvest Meta Enhanced High Income Shares ETF (“METE”), and Harvest Diversified High Income Shares ETF (“HHIS”).
The newly introduced ETFs aim to provide Canadian investors with access to high-growth companies using a combination of covered call strategies and, in some cases, modest leverage, all while offering high monthly income distributions.
Overview of the New ETFs
MSTY and CONY focus on single-stock ETFs linked to the performance of MicroStrategy Incorporated and Coinbase Global Inc., respectively. Both ETFs employ an active covered call strategy to generate significant monthly income while providing investors with exposure to the growth potential of these two technology-driven companies.
PLTE, TSLY, and METE offer single-stock ETF access to Palantir Technologies Inc., Tesla, Inc., and Meta Platforms, Inc., respectively. These ETFs incorporate a modest leverage strategy alongside the covered call approach, designed to amplify the potential for higher monthly income while benefiting from the growth of these widely recognized companies.
Lastly, HHIS is a diversified ETF designed to provide Canadian investors with exposure to a portfolio consisting of other Harvest High Income Shares ETFs. It aims to deliver high monthly cash distributions with the added potential for capital appreciation through leveraged investments in single-equity securities and covered call strategies.
Statement from Harvest’s CEO
“We are thrilled to expand our suite of single-stock ETFs with these innovative offerings,” said Michael Kovacs, President and CEO of Harvest. “These ETFs offer access to some of the most exciting and widely held companies in the market. With the use of covered call option strategies, we are confident in our ability to deliver high levels of monthly income for our investors. For over 15 years, Harvest has remained committed to providing Canadian investors with innovative investment opportunities that combine growth and high-income potential.”
Investment Objectives of the New Harvest High Income Shares ETFs
Each of the new ETFs has a distinct investment objective tailored to deliver both capital appreciation and high monthly distributions:
- MSTY aims to provide long-term capital growth by investing directly or indirectly in the Class A common stock of MicroStrategy Incorporated, along with high monthly cash distributions.
- CONY seeks to offer long-term capital appreciation by investing directly or indirectly in Coinbase Global Inc.’s Class A common stock, while also providing high monthly cash distributions.
- PLTE targets long-term capital growth through a leveraged investment in the Class A common stock of Palantir Technologies Inc. and aims to generate high monthly cash distributions for its investors.
- TSLY focuses on long-term capital appreciation through a leveraged position in Tesla, Inc.’s common stock and offers high monthly cash distributions.
- METE aims to provide long-term capital appreciation by investing directly or indirectly, on a levered basis, in the Class A common stock of Meta Platforms, Inc., alongside high monthly cash distributions.
- HHIS seeks to provide high monthly cash distributions and capital appreciation by investing in a diversified portfolio of single-stock ETFs and engaging in covered call strategies on a leveraged basis.
Harvest’s Role
Harvest, a registered investment fund manager and portfolio manager, will serve as the promoter, trustee, manager, and portfolio manager for the six new ETFs. The firm will also be responsible for their administration and overall management, ensuring these funds align with its core mission of delivering innovative, high-income investment solutions to Canadian investors.
These new offerings are expected to enhance the range of investment opportunities available to Canadians, combining the growth potential of leading companies with income-generating strategies designed to provide consistent, high returns.
