CIBC Active Investment Grade Floating Rate Bond ETF

CIBC Active Investment Grade Floating Rate Bond ETF (referred to as the CIBC ETF) seeks to generate current income while preserving capital by investing primarily in a portfolio of Canadian debt securities and by using interest rate derivatives that seek to mitigate the effect of interest rate fluctuations. The CIBC ETF invests primarily in a portfolio of (i) Canadian investment-grade floating rate debt obligations and other floating rate debt instruments and/or (ii) Canadian investment-grade debt obligations and other debt instruments that deliver a fixed rate of income while using interest rate derivatives to mitigate the effect of interest rate fluctuations. The CIBC ETF undertakes a bottom-up analysis of bond issuers combined with a top-down analysis of an industrys potential in a given economic environment.