Toronto, Ontario--(Newsfile Corp. - October 14, 2026) - Evolve Funds Group Inc. ("Evolve" or the "Manager") today announced that it will make Passive Foreign Investment Company ("PFIC") Annual Information Statements available for certain funds ("Evolve Funds"), beginning with the year ended June 30, 2025. The statements are intended to help unitholders who file U.S. tax returns receive more favourable U.S. tax treatment on their holdings.
Under U.S. tax law, Canadian exchange-traded funds and mutual funds are generally treated as PFICs. The PFIC rules are designed to limit the extent to which U.S. persons, including U.S. citizens living in Canada, can defer U.S. tax through investments in non-U.S. funds. Without a PFIC Annual Information Statement, U.S. taxpayers holding a Canadian fund may face punitive tax treatment, including ordinary income rates on gains and interest charges on deferred tax.
The PFIC Annual Information Statements will allow eligible investors to elect to treat the applicable Evolve funds as Qualified Electing Funds ("QEFs") on IRS Form 8621. A QEF election generally gives U.S. taxpayers access to capital gains tax rates on their fund holdings and avoids the interest charges that would otherwise apply.
PFIC Annual Information Statements will be posted on the Evolve website on or about October 15, 2026. The list of funds may change without notice and will be reviewed annually.
PFIC rules are complex. Evolve recommends that affected investors consult their financial advisor and a qualified U.S. tax professional about the PFIC rules and whether a QEF election is appropriate for their circumstances.
PFIC Annual Information Statements will be provided for the following Evolve funds:
| Evolve Funds | Ticker Symbol |
| Evolve European Banks Enhanced Yield ETF | EBNK |
| Evolve Enhanced Yield Bond Fund | BOND |
| Evolve Cyber Security Index Fund | CYBR |
| Evolve S&P 500 Enhanced Yield Fund | ESPX |
| Evolve NASDAQ Technology Index Fund | QQQT |
| Evolve NASDAQ Technology Enhanced Yield Index Fund | QQQY |
About Evolve Funds Group Inc.
With over $10 billion in assets under management, Evolve specializes in bringing innovative ETFs to Canadian investors. Evolve's suite of ETFs provide investors with access to: (i) index-based income strategies; (ii) long term investment themes; and (iii) some of the world's leading investment managers. Established by a team of industry veterans with a demonstrated ability to succeed, Evolve creates investment products that make a difference. For more information, please visit www.evolveetfs.com.
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Evolve ETFs
info@evolveetfs.com
t. 416.214.4884
tf. 1.844.370.4884
MEDIA CONTACT
Keith Crone
kcrone@evolveetfs.com
416.966.8716
Evolve Funds Group Inc. is the investment fund manager and portfolio manager. All Evolve Funds described herein are offered by Evolve Funds Group Inc., and distributed through authorized dealers.
The information contained herein is a general description and is not intended to be specific investment advice to any particular investor nor intended to be investment or tax advice. You should not act or rely on the information contained herein without seeking the advice of an appropriate professional advisor.
Commissions, management fees and expenses all may be associated with exchange traded funds (ETFs) and mutual funds. ETFs and mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. There are risks involved with investing in ETFs and mutual funds. Please read the prospectus for a complete description of risks relevant to ETFs and mutual funds. Investors may incur customary brokerage commissions in buying or selling ETF and mutual fund units. Please read the prospectus before investing.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to a future outlook and anticipated events or results and may include statements regarding future financial performance. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "anticipate", "believe", "intend" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Evolve undertakes no obligation to update publicly or otherwise revise any forward-looking statement whether as a result of new information, future events or other such factors which affect this information, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/319057
