ISHARES EQUAL WEIGHT BANC & LIF
CEWUF
Other OTC- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Canada
- IPO Date
- Feb 6, 2008
- Similar Companies
- Business
- iShares Equal Weight Banc & Lifeco ETF (CEW.TO; CEWUF:US OTC) is an exchange-traded fund that seeks to provide investors with a diversified, equal-weighted portfolio of common shares from the largest Canadian banks and life insurance companies. The ETF invests in securities selected based on minimum market capitalizations of $5 billion for banks and $1.5 billion for life insurance companies, including major holdings such as Canadian Imperial Bank of Commerce, Toronto-Dominion Bank, Bank of Nova Scotia, Manulife Financial Corp., Sun Life Financial Inc., Royal Bank of Canada, iA Financial Corp. Inc., National Bank of Canada, Great-West Lifeco Inc., and Bank of Montreal; the portfolio is rebalanced quarterly to maintain equal weighting and account for market value changes, mergers, acquisitions, or other significant corporate actions. It targets monthly cash distributions of approximately $0.04167 per unit, derived primarily from dividends received on the portfolio, with potential inclusion of capital gains or return of capital, and operates in the Canadian equity market focusing on the banking and insurance sectors. Launched on February 6, 2008, and domiciled in Canada, the ETF is managed by BlackRock Asset Management Canada Limited, with BlackRock Institutional Trust Company, N.A. serving as sub-advisor, and is headquartered at 161 Bay Street, Suite 2500, Toronto, Ontario. As of April 30, 2025, the fund's net assets stood at $230.8 million CAD, with a management expense ratio of 0.61%, traded on the Toronto Stock Exchange under ticker CEW in Canadian dollars, and accessible via U.S. OTC markets as CEWUF. The investment approach emphasizes reducing concentration risk through equal weighting across approximately 10 holdings, split roughly 60% banks and 40% life insurers, serving long-term investors seeking capital growth and monthly income exposure to Canada's dominant financial institutions. In recent developments, the ETF participated in BlackRock's 2018 reclassification of advisor class units (CEW.A) into common units at a ratio of 0.7232962525, simplifying the product structure in line with industry trends toward transparent fee models. The fund has maintained steady operations amid ongoing quarterly rebalancing to reflect portfolio impacts from constituent mergers or acquisitions, with net assets growing from $239.4 million at December 31, 2024, to $256.6 million by June 30, 2025, alongside regular monthly cash distributions announced through 2025. No major new product launches, funding rounds, or strategic shifts specific to the ETF have been reported in the last 1-2 years, with focus remaining on its core equal-weight strategy and sustained performance, including a 29.35% total return in 2024.