Long Term Energizers Boost
Healthcare Sector

Harvest Healthcare Leaders Income ETF

An ageing population, growing spending on healthcare and technological innovation in pharmaceutical and surgical areas, are the three main factors behind the U.S. healthcare sector, argues Paul MacDonald, lead manager of the $344.9 million Harvest Healthcare Leaders Income ETF (HHL). “These are the big macro-drivers that provide healthcare with long-term structural positive dynamics.”


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The healthcare sector is a direct beneficiary of one of the only secular, non-cyclical and permanent investment themes: the global aging population.

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Long Term Energizers Boost Healthcare Sector

Jan 07, 2020

That momentum should carry through in 2020, says Paul MacDonald, Chief Investment Officer at Harvest Portfolio Group.

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3 Key Factors Impacting the 
Healthcare Sector

People are Aging

Proportion of Population Over 60

People are Aging - Healthcare ETF - HHL

Source: United Nations Population Division; World Population Prospects, June 2017

Global Middle Class “Consumers” is Growing

Asia_30%_Healthcare ETF - HHL

Asia - 30%


Asia - 50%


Asia - 60%

By 2030, Asia will have >60% of the global middle class, accounting for 40% of global middle class consumption.

Source: OECD, Health at a Glance 2017. Brookings. 
Source: World Bank, Brookings & Global Economy and Development, Home Kharas, updated February 2017. Middle class defined as households with per capita incomes between $10 and $100 per person per day in 2005 PPP terms. This implies an annual income of a 4 person middle class household of $14,600 to $146,000. Kharas, 2010; World Bank, 2007; Ernst & Young, 2013; Bank of America Merrill Lynch, 2016).

    North American & Europe
    Rest of World

Technological Innovation

Data Analytics

Holistic Health
Data Analytics

Health Records &
Home Monitoring

Artificial Intelligence

Retail Pharmacy

Healthcare ETF - HHL

Healthcare ETF - HHL

Healthcare ETF - HHL

Healthcare ETF - HHL

Source:  Company web-sites, Harvest Portfolios Group.

Harvest Healthcare Leaders Income ETF

The fund invests in an equally-weighted portfolio of equity securities of 20 Healthcare Issuers from the Healthcare Leaders Investable Universe that have a minimum market capitalization of US$5 billion at the time of investment and have options in respect of their Equity Securities listed on a recognized options exchange. The portfolio is rebalanced quarterly back to equal weights.

Investment Highlights

Healthcare_Sub-sectors_Healthcare ETF - HHL

General sub-sectors grouped by Harvest Portfolios.

  • Global: Global trends driving long-term growth
  • Diversified: Portfolio of 20 large capitalization global healthcare leaders
  • Attractive Income: Monthly income with opportunity for capital appreciation
  • Covered Call Strategy: Enhance portfolio income and lower portfolio volatility
  • Hedged: HHL unit currency hedged; HHL.U trades in USD and is unhedged

Fund Facts

TSX Ticker:

HHL   |   HHL.U


41755F107  |  41755F206

Inception Date (HHL  |  HHL.U):

11/19/2014  |  01/17/2017

Distribution Frequency:


Recent Distribution:


Distribution Method:

Cash or DRIP



Management Fee:


Risk Rating:


World Class Portfolio of Healthcare Leaders
As at February 29, 2020

Healthcare ETF - HHL

Sub-Sector Diversification
As at February 29, 2020

Portfolio With Global Exposure
As at ​February 29, 2020

Cumulative Growth $10,000 Invested (NAV pricing)
As at February 29, 2020

  • HHL
  • HHL.U

Harvest Healthcare Leaders Income ETF

The Fund originally commenced operations as a TSX listed closed-end fund on December 18, 2014 and converted into an exchange-traded fund on October 24, 2016. Commissions, management fees and expenses all may be associated with investing in Harvest Exchange Traded Funds (managed by Harvest Portfolios Group Inc.). Please read the relevant prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account income taxes payable by any security holder that would have reduced returns. The funds are not guaranteed, their values change frequently and past performance may not be repeated. Distributions are paid to you in cash unless you request, pursuant to your participation in a distribution reinvestment plan, that they be reinvested into Class A or Class U units of the Fund. If the Fund earns less than the amounts distributed, the difference is a return of capital. Tax, investment and all other decisions should be made with guidance from a qualified professional.

Certain statements included in this communication constitute forward looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to the Investment Fund. The forward-looking statements are not historical facts but reflect the Fund’s, Harvest and the Manager of the Fund’s current expectations regarding future results or events. These forward looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Fund, Harvest and the Manager of the Fund believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Fund, Harvest and the Manager of the Fund undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

© 2020 Harvest Portfolios Group