Evolve Launches Leveraged Tech Income ETF With Zero Management Fee

Evolve Funds launched the Evolve NASDAQ Technology UltraYield ETF (TECY) on the TSX, offering a leveraged, covered-call approach to technology stocks. TECY invests through underlying fund QQQY in leading technology companies and writes covered calls to generate option income, with the level of writing adjusted based on volatility and other factors. TECY’s management fee was reduced from 0.50% to 0%, although QQQY charges 0.50% plus taxes and trading costs. The ETF uses modest leverage and plans cash distributions at least twice monthly, potentially increasing their frequency at Evolve’s discretion.