CIBC Flexible Yield ETF (CAD-Hedged)

The fund providesbroadexposureto both high-yield and investment gradebonds, either corporate or government,of any maturityfrom anywhere in the worldby investingsimilarly to theRenaissance Flexible Yield Fund. The portfolio manager can tactically allocate investments and willemploys a total return approach to buydebt securities with higher yieldsusinga top-down and relative value process to allocate across country, currency, and sector allocations, as well as active management in interest rate decisions.The fund alsoattemptsto offsetitsforeign currency exposureby hedging to the Canadian dollar.As an actively managed ETF, the fund may depart temporarily from its fundamental investment objectives at their discretion.