The fund applies a covered call option (or buy-write) strategy on the utilities segment of the Canadian equity market. The fund holds underlying stock positions on utilities, which is defined widely as it also includes telecommunication and pipeline companies, and writes call options out of the money. Call options, which are either exchange-traded or over-the-counter, are selected based on the option's implied volatility. The fund’s strategy enables investors to earn call option premiums and have tax-efficient distributions. The option premium provides investors with limited downside protection. The fund’s underlying portfolio is equally weighted and undergoes annual rebalancing and reconstitution in June and December, respectively. Options are rolled forward upon expiry.