Harvest expands equity income options with ESG ETF

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Read more: Asset managers accelerating investment in ESG across asset classes

HESG is designed to provide high monthly income for Canadian investors. It offers exposure to a portfolio of stocks chosen through undergoes a structured ESG process, which is also subject to Harvest’s active and adaptable covered call strategy.

With an initial target yield of 7%, the record date for the ETF’s first monthly distribution will be on October 31, and the payable date will be November 9.

HESG aims to minimize downside risk while tracking the performance of the Solactive ESG US Equity Index TR, or any index chosen to replace it. The Solactive ESG US Equity Index TR employs Socially Responsible Investing (SRI) and ESG screening before selecting 30 largest companies in its ESG universe by market capitalization.

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After applying SRI screens to eliminate sectors such as tobacco, alcohol, and weaponry, the index assesses the remaining companies based on their environmental, social, and governance scores, as well as their overall ESG scores.

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