Ninepoint Constellation Software CoreShares ETF

CSUC
TSX
How to Invest Fund Snapshot

Ninepoint Constellation Software CoreShares ETF

Ninepoint CoreShares
  • Constellation Software Single Stock
  • Maximizes yield (using covered calls)
  • 0.29% mgmt fee
  • No leverage
  • Tax efficient distributions
Ninepoint Constellation Software CoreShares ETF
  • NAV · As at 4/23/2026
    $10.84
  • Market Close · As at 4/23/2026
    $10.79
  • Risk Tolerance
    High
  • Distributions††
    $0.0400 Monthly
  • Inception Date
    4/13/2026
Disclaimer

Fund Overview

This ETF exclusively holds shares of Constellation Software and uses a covered call strategy to produce higher monthly income than holding the traditional shares.

Why invest in CSUC?

Easier Access to CSU
CSUC removes the high per share price barrier to owning CSU, allowing investors to gain fractional exposure starting from an initial $10 NAV. This makes it easier to include CSU in portfolios of any size, including registered accounts.

A New Source of Monthly Income
 Historically, CSU could not be used to generate covered call income. CSUC unlocks that opportunity by writing covered calls through Ninepoint’s OTC options desk, creating a new potential source of monthly cash flow while still maintaining exposure to CSU’s long term growth.

Unlevered Structure
 CSUC does not use leverage, helping reduce complexity and risk compared to many income focused ETFs. Investors gain access to a covered call strategy in a straightforward structure with a low 0.29% management fee.

Tax Efficient Income
Covered call distributions provide income that differs from traditional dividends. This flexibility may be useful, for example, in retirement where managing different types of income may help support tax efficiency and government benefit planning.

Distributions
Distributions Per Unit†† $0.04000
Distribution Frequency Monthly
††The ETF does not have a fixed distribution amount. The amount of monthly distributions may fluctuate monthly, quarterly or annually, as applicable, and there can be no assurance that the ETF will make any distribution in any particular period or periods. The amount of ordinary cash distributions, if any, will be based on the Manager’s assessment of the prevailing market conditions. The amount of distributions may vary if there are changes in any of the factors that affect the net cash flow on the portfolio of an ETF, including the amount of leverage employed by the ETF. The amount and date of any ordinary cash distributions of the ETF will be announced in advance by issuance of a press release. Subject to compliance with the investment objectives of the ETF, the Manager may, in its complete discretion, change the frequency of these distributions and any such change will be announced by press release.
Facts
Ticker
CSUC:TSX
Underlying Stock**
Constellation Software Inc. (CSU:TSX)
Management Fee
0.29%
Covered Call Strategy
Up to 50% of NAV
Leverage Ratio
No leverage
Currency
CAD
Registered Tax Plan Status
Eligible
CUSIP
653944843

**All logos, trademarks, and brand names are the property of their respective owners. Their use is for identification purposes only and does not imply any endorsement or affiliation.
Index: S&P/TSX Capped Information Technology Index

Risk Tolerance

  • Low
  • Low - Med
  • Medium
  • Med - High
  • High

CSU Historical Price

Historical price of the underlying stock Constellation Software, not the ETF. See note below.

The historical price shown relates solely to the underlying stock and does not represent the performance of the ETF. The ETF has less than 12 months of performance history, and its returns will differ from those of the underlying stock due to management fees, expenses, trading activity, and the use of the covered call and/or leverage strategies, as applicable. Past performance of the underlying stock is not indicative of future performance of the ETF.

Investment Team

  • John Wilson, MBA
    Co-CEO, Managing Partner, Senior Portfolio Manager
    John Wilson, MBA
    Co-CEO, Managing Partner, Senior Portfolio Manager
    John Wilson is a founding principal, Co-CEO and Managing Partner of Ninepoint Partners. John oversees all aspects of the firm’s investment and research initiatives. Prior to Ninepoint’s formation, he was CEO, CO-CIO and Senior Portfolio Manager at Sprott Asset Management (SAM). Previous to SAM, he was Chief Investment Officer at Cumberland Private Wealth Management, founder and CEO of DDX Capital Partners, an alternative investment management firm; was Managing Director at RBC Capital Markets...
    View Full Bio
  • Colin Watson
    Vice President, Portfolio Manager
    Colin Watson
    Vice President, Portfolio Manager
    Colin Watson's background spans across equities, asset allocation & derivative-based strategies. Prior to Ninepoint Partners, Colin worked as a Portfolio Manager at IMCO on a team responsible for overseeing IMCO’s $26B public equity allocation and deploying derivatives-based strategies for IMCO’s public asset allocation strategy. Prior to IMCO, Colin worked at Ninepoint Partners on equity selection & options-based overlays. Colin holds a Bachelor of Commerce Degree from McMaster Unive...
    View Full Bio
  • Zach Chen, CFA
    Analyst
    Zach Chen, CFA
    Analyst
    Zach Chen is an Analyst on the Ninepoint HighShares ETFs and the Ninepoint Energy Income Fund where he assists with the equity option overlay. He is also an analyst on the Ninepoint Global Infrastructure Fund, where he researches infrastructure related equities. Prior to Ninepoint Zach interned in Investment Banking M&A at ATB Capital Markets. Zach graduated from Ivey Business School (HBA) and also holds a Bachelor of Engineering Science in Mechatronic Systems Engineering from Wester...
    View Full Bio

Education

In an environment of fluctuating interest rates, persistent inflation, and uncertain equity markets, investors are searching for strategies that balance income generation with risk management, and equity market participation. Covered call exchange-traded funds (ETFs) have emerged as a popular solution in Canada, offering attractive monthly distributions and a smoother ride through market volatility. 

Two portfolios generating the same cash flow can produce very different taxable income. For retirees approaching Old Age Security (OAS) recovery thresholds, the structure of income may matter as much as the amount. 

Frequently Asked Questions

Documents

All Funds
  • NPP119
    (Series F)
    Mutual Funds Exchange Traded Funds Cash Management

    Annualized Yield

    2.53%
    As at 3/31/2026
    Performance as at 3/31/2026
    1 Year
    2.67%
    3 Year
    4.06%
    5 Year
    3.22%
    10 Year
    2.19%
    Incept.1
    2.15%
    1 Inception Date 8/6/2010

    NAV

    $10.00 $0.00 (0.01%)
    As at 4/23/2026
    Growth of $10,000 Invested as at 3/31/2026
    Go To Fund

    Effective September 3, 2024, Ninepoint High Interest Savings Fund changed its name to Ninepoint Cash Management Fund; and changed its investment strategies to follow the legal requirements for money market funds with respect to quality, liquidity and maturity of investments; and permitted the Fund to engage in securities lending as permitted by securities regulations. Effective March 4, 2019 the Ninepoint Short Term Bond Fund’s name was changed to the Ninepoint High Interest Savings Fund, and also changed its investment objective. Effective August 3, 2023 the Fund’s strategy was changed to include the option to invest in high-quality money market securities. The above is the performance for the Ninepoint Short Term Bond Fund up to March 4, 2019, the Ninepoint High Interest Savings Fund from March 8, 2019 to August 2, 2023 and that of the new strategy for the Ninepoint High Interest Savings Fund to September 2, 2024. All performance after September 3, 2024 is that of the Ninepoint Cash Management Fund.

    All returns and fund details are a) based on Series F shares; b) net of fees; c) annualized if period is greater than one year; d) as at 3/31/2026. Where applicable, all figures are annualized and based on monthly returns since inception. Risk-free rate and minimum acceptable rate calculated using rolling 90-day CDN T-bill rate. The rate of return or mathematical table shown is used only to illustrate the effects of the compound growth rate and is not intended to reflect future values of the mutual fund or returns on investment in the mutual fund. Top ten holdings and sector allocation as at 3/31/2026. Top ten holdings based on % of net asset value. Sector allocation based on % of net asset value. Numbers may not add up due to rounding. Cash and cash equivalents include non-portfolio assets and/or liabilities.

    The rate of return is used only to illustrate the effects of the compound growth rate and is not intended to reflect future values of the investment fund or returns on investment in the investment fund.

    The average rating may change over time and is subject to change without notice.  The portfolio itself has not been rated by an independent rating agency. The fund’s underlying investments are rated by designated rating organizations and meet the regulatory requirements for money market funds. The portfolio effective rating is computed as the market value weighted average rating of positions in the portfolio. The rating for each position is computed as an average of available ratings as issued by the designated rating agencies. The ratings themselves may be short-term or long-term depending on the original issue date of the security. Issue rating is used wherever available. When issue rating is unavailable, issuer rating is used instead. Cash is excluded from the calculation.

    The monthly distribution amount may be adjusted by the Manager without notice throughout the year as market conditions change. Monthly distributions will be comprised of net income, net realized capital gains and/or return of capital. Any net income and/or net realized capital gains earned by the Fund in excess of the monthly distribution will be distributed to unitholders annually in December.

    The Fund is generally exposed to the following risks: Active management risk; Borrowing risk; Credit risk; Cybersecurity risk; Inflation risk; Interest rate risk; Leverage risk; Market risk; Securities lending, repurchase and reverse repurchase transactions risk; Series risk; Specific issuer risk; Tax risk; Absence of an active market for ETF Series risk; Halted trading of ETF Series risk; Trading price of ETF Series risk.

    Ninepoint Partners LP is the investment manager to a number of funds (collectively, the “Funds”). Commissions, trailing commissions, management fees, performance fees (if any), and other expenses all may be associated with investing in the Funds. Please read the prospectus carefully before investing. Mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances that the fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you. Past performance may not be repeated. The indicated rates of return for series F units of the Funds for the period ended 3/31/2026 are based on the historical annual compounded total returns including changes in unit value and reinvestment of all distributions or dividends and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. This communication does not constitute an offer to sell or solicitation to purchase securities of the Funds.

    The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not a resident in Canada should contact their financial advisor to determine whether securities of the Fund may be lawfully sold in their jurisdiction.

    Ninepoint Partners LP: Toll Free: 1.866.299.9906. Dealer Services: CIBC Mellon GSSC Record Keeping Services: Toll Free: 1.877.358.0540

  • ECHI
    (ETF)
    HighShares Exchange Traded Funds All-in-one Income ETFs

    NAV

    $12.25 -$0.04 (-0.31%)
    As at 4/23/2026
    Go To Fund

    **All logos, trademarks, and brand names are the property of their respective owners. Their use is for identification purposes only and does not imply any endorsement or affiliation.

    The Fund is generally exposed to the following risks: Absence of an active market for ETF Shares risk; Borrowing risk; Collateral risk; Cybersecurity risk; Derivatives risk; Equity investment risk; Exchange risk; Fund of funds investment risk; Halted trading of ETF Shares risk; Inflation risk; Interest rate risk; Leverage risk; Market risk; Mutual fund corporation risk; Regulatory risk; Specific issuer risk; Tax risk; Trading price of ETF Shares risk.

    The ETFs do not have a fixed distribution amount. The amount of monthly distributions may fluctuate monthly, quarterly or annually, as applicable, and there can be no assurance that the ETFs will make any distribution in any particular period or periods. The amount of ordinary cash distributions, if any, will be based on the Manager’s assessment of the prevailing market conditions. The amount of distributions may vary if there are changes in any of the factors that affect the net cash flow on the portfolio of an ETF, including the amount of leverage employed by the ETFs. The amount and date of any ordinary cash distributions of the ETFs will be announced in advance by issuance of a press release. Subject to compliance with the investment objectives of the ETFs, the Manager may, in its complete discretion, change the frequency of these distributions and any such change will be announced by press release. Each ETF intends to pay monthly distributions based on its ability to generate monthly cash flows from writing covered call options and any dividends received on the Portfolio Securities held in such ETF’s portfolio, as applicable. The Manager will review the level of distributions for each ETF on a quarterly basis to consider the sustainability of such distributions.

    Ninepoint Partners LP is the investment manager to the Ninepoint HighShares ETFs (collectively, the “Funds”). Commissions, trailing commissions, management fees, performance fees (if any), and other expenses all may be associated with investing in the Funds. Please read the prospectus carefully before investing. ETFs are not guaranteed, their values change frequently and past performance may not be repeated. This communication does not constitute an offer to sell or solicitation to purchase securities of the Funds.

    The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not resident in Canada should contact their financial advisor to determine whether securities of the Funds may be lawfully sold in their jurisdiction.

    Ninepoint Partners LP: Toll Free: 1.866.299.9906. Dealer Services: CIBC Mellon GSSC Record Keeping Services: Toll Free: 1.877.358.0540

  • SHHI
    (ETF)
    HighShares Exchange Traded Funds Single Stock Income ETFs

    NAV

    $7.33 -$0.46 (-5.94%)
    As at 4/23/2026
    Go To Fund

    **All logos, trademarks, and brand names are the property of their respective owners. Their use is for identification purposes only and does not imply any endorsement or affiliation.

    The Fund is generally exposed to the following risks: Absence of an active market for ETF Shares risk; Borrowing risk; Capital gains risk; Collateral risk; Concentration risk; Covered call strategy risk; Cybersecurity risk; Derivatives risk; Equity investment risk; Exchange risk; Halted trading of ETF Shares risk; Inflation risk; Interest rate risk; Large capitalization issuer risk; Leverage risk; Market risk; Mutual fund corporation risk; No ownership risk; Passive Canadian Public Issuer investment risk; Performance risk; Regulatory risk; Risks associated with an investment in a Canadian Public Issuer; Specific issuer risk; Tax risk; Trading price of ETF Shares risk.

    The ETFs do not have a fixed distribution amount. The amount of monthly distributions may fluctuate monthly, quarterly or annually, as applicable, and there can be no assurance that the ETFs will make any distribution in any particular period or periods. The amount of ordinary cash distributions, if any, will be based on the Manager’s assessment of the prevailing market conditions. The amount of distributions may vary if there are changes in any of the factors that affect the net cash flow on the portfolio of an ETF, including the amount of leverage employed by the ETFs. The amount and date of any ordinary cash distributions of the ETFs will be announced in advance by issuance of a press release. Subject to compliance with the investment objectives of the ETFs, the Manager may, in its complete discretion, change the frequency of these distributions and any such change will be announced by press release. Each ETF intends to pay monthly distributions based on its ability to generate monthly cash flows from writing covered call options and any dividends received on the Portfolio Securities held in such ETF’s portfolio, as applicable. The Manager will review the level of distributions for each ETF on a quarterly basis to consider the sustainability of such distributions.

    Ninepoint Partners LP is the investment manager to the Ninepoint HighShares ETFs (collectively, the “Funds”). Commissions, trailing commissions, management fees, performance fees (if any), and other expenses all may be associated with investing in the Funds. Please read the prospectus carefully before investing. ETFs are not guaranteed, their values change frequently and past performance may not be repeated. This communication does not constitute an offer to sell or solicitation to purchase securities of the Funds.

    The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not resident in Canada should contact their financial advisor to determine whether securities of the Funds may be lawfully sold in their jurisdiction.

    Ninepoint Partners LP: Toll Free: 1.866.299.9906. Dealer Services: CIBC Mellon GSSC Record Keeping Services: Toll Free: 1.877.358.0540

View All

Have a question?

Contact Us

**All logos, trademarks, and brand names are the property of their respective owners. Their use is for identification purposes only and does not imply any endorsement or affiliation.

The ETF is generally exposed to the following risks: Absence of an active market for ETF Securities risk; Capital gains risk; Concentration risk; Covered call strategy risk; Cybersecurity risk; Equity investment risk; Exchange risk; Halted trading of ETF Securities risk; Inflation risk; Interest rate risk; Large capitalization issuer risk; Market risk; Mutual fund corporation risk; No ownership risk; Passive Specified Public Issuer investment risk; Performance risk; Regulatory risk; Risks associated with an investment in a Specified Public Issuer; Specific issuer risk; Tax risk; Trading price of ETF Securities risk.

The ETFs do not have a fixed distribution amount. The amount of monthly distributions may fluctuate monthly, quarterly or annually, as applicable, and there can be no assurance that the ETFs will make any distribution in any particular period or periods. The amount of ordinary cash distributions, if any, will be based on the Manager’s assessment of the prevailing market conditions. The amount of distributions may vary if there are changes in any of the factors that affect the net cash flow on the portfolio of an ETF, including the amount of leverage employed by the ETFs. The amount and date of any ordinary cash distributions of the ETFs will be announced in advance by issuance of a press release. Subject to compliance with the investment objectives of the ETFs, the Manager may, in its complete discretion, change the frequency of these distributions and any such change will be announced by press release. Each ETF intends to pay monthly distributions based on its ability to generate monthly cash flows from writing covered call options and any dividends received on the Portfolio Securities held in such ETF’s portfolio, as applicable. The Manager will review the level of distributions for each ETF on a quarterly basis to consider the sustainability of such distributions.

Ninepoint Partners LP is the investment manager to the Ninepoint CoreShares ETFs (collectively, the “Funds”). Commissions, trailing commissions, management fees, performance fees (if any), and other expenses all may be associated with investing in the Funds. Please read the prospectus carefully before investing. ETFs are not guaranteed, their values change frequently and past performance may not be repeated. This communication does not constitute an offer to sell or solicitation to purchase securities of the Funds.

The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not resident in Canada should contact their financial advisor to determine whether securities of the Funds may be lawfully sold in their jurisdiction.

Ninepoint Partners LP: Toll Free: 1.866.299.9906. Dealer Services: CIBC Mellon GSSC Record Keeping Services: Toll Free: 1.877.358.0540