Mutual fund version and U.S. dollar series of CI Morningstar International Value Index ETF (VXM) now available

TORONTO--(BUSINESS WIRE)--Apr. 7, 2026-- CI Global Asset Management(“CI GAM”) announces expanded access to one of Canada’s top international equity strategies with today’s launch of two new investment options.

The strategy is CI Morningstar International Value Index ETF (the “ETF”), which uses a factor-based approach to invest in undervalued companies in developed markets outside of the U.S. and Canada. The ETF has a strong track record, ranking No. 1 out of all mutual funds and ETFs in the Morningstar International Equity Category based on total returns over the one, five and 10-year periods ending February 28, 2026. The ETF is offered in Canadian dollar Hedged Common Units (VXM) and Unhedged Common Units (VXM.B).

As of today, the ETF is also available in:

• A mutual fund format: CI Morningstar International Value Hedged Index Fund(the “Fund”), which invests in Hedged Common Units of the ETF and is available in mutual fund Series A, F, I and P units.
• A new ETF Series: Unhedged US$ Common Units, which have closed their initial offering and begin trading today on the Toronto Stock Exchange under the ticker VXM.U.

“Market developments over the past 15 months have underscored the importance of diversifying investor portfolios beyond the U.S. and Canada,” said Jennifer Sinopoli, Executive Vice-President and Head of Distribution for CI GAM. “CI Morningstar International Value Index ETF is a compelling choice for investors seeking robust international content for their portfolios due to its well-constructed, multi-factor approach and exceptional long-term outperformance. The ETF’s value orientation also makes it a solid complement to growth-oriented U.S. portfolios.

“By providing expanded access to this proven strategy, we’re giving Canadian investors more options to build resilient portfolios,” Ms. Sinopoli said.

Benefits of the VXM strategy

• Focus on undervalued international companies provides diversification by region and investment style.
• Value-based international portfolio an excellent diversifier for growth-oriented North American large-caps.
• Capitalizes on current attractive valuations of select companies in international markets.
• Uses a systematic factor-based approach that screens for traditional value metrics while avoiding “value traps” – firms with weakening fundamentals.
• Provides a portfolio that is well diversified by country, sector and market cap, as it includes small and medium-sized companies as well as large caps.

Record of strong performance

The ETF has established a long-term record of outperformance relative to its benchmark and peer funds within the Morningstar International Equity Category. As of February 28, 2026, the ETF:

• is the top-performer out of all mutual funds and ETFs in the category over the one, five and 10-year periods
• holds a Five-Star Morningstar Rating
• is a winner of an LSEG Lipper Fund Award and a FundGrade A+ Award for 2025.

Source: Morningstar, as of February 28, 2026. Returns are annualized total returns (except one year or less, which are simple returns), net of fees and expenses. Benchmark is the MSCI EAFE Net Return Index in Canadian dollars and does not reflect fees or expenses. Past performance is not indicative of future results.

Investment objective

The investment objective of each of the ETF and CI Morningstar International Value Hedged Index Fund is to replicate, to the extent possible, the price and yield performance of the Morningstar® Developed Markets ex-North America Target Value Index™ (or Morningstar® Developed Markets ex-North America Target Value Index™ (USD) in the case of VXM.U), net of expenses. Each of the ETF and the Fund invests in equity securities of the largest and most liquid issuers from countries classified by Morningstar as developed markets, excluding the U.S. and Canada, based on proprietary research generated by Morningstar, and is designed to provide diversified exposure to issuers from developed markets, excluding the U.S. and Canada, which are considered to be “good value” based on characteristics like low price-to-earnings and low price-to-cash flow ratios.

Each of VXM, VXM.B and the Fund has a risk rating of Medium, while VXM.U has a risk rating of Medium-to-High. Each series of the ETF has a management fee of 0.60%. The management fee of CI Morningstar International Value Hedged Index Fund is 1.55% for Series A and 0.55% for Series F and P. Series A, F and P also charge an administration fee of 0.05%.

About CI Global Asset Management

CI Global Asset Management (“CI GAM”) is one of Canada’s leading investment management firms, providing a comprehensive suite of solutions – including mutual funds, exchange-traded funds and alternative investments – to help Canadians achieve their financial goals. Founded in 1965, CI GAM has built an enduring legacy of innovation, disciplined portfolio management and commitment to investor success. Our investment team brings deep expertise in fundamental research, portfolio construction and risk management to deliver results across a broad range of asset classes. We partner with financial advisors, wealth management firms and institutions to serve more than 1.3 million investors. CI GAM is a subsidiary of Toronto-based CI Financial Corp., a diversified global asset and wealth management company. For more information, visit www.ci.com or follow us on LinkedIn.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund and exchange-traded fund (ETF) investments. Please read the prospectus before investing. The indicated rates of return are the historical annual compound total returns net of fees and expenses payable by the fund (except for figures of one year or less, which are simple total returns) including changes in security value and reinvestment of all distributions 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 and ETFs are not guaranteed, their values change frequently and past performance may not be repeated. You will usually pay brokerage fees to your dealer if you purchase or sell units of an ETF on recognized Canadian exchanges. If the units are purchased or sold on these Canadian exchanges, investors may pay more than the current net asset value when buying units of the ETF and may receive less than the current net asset value when selling them. Returns of the Index do not represent the ETF’s returns. An investor cannot invest directly in the Index. Performance of the ETF is expected to be lower than the performance of the Index.

This communication is intended for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase mutual funds managed by CI Global Asset Management and is not, and should not be construed as, investment, tax, legal or accounting advice, and should not be relied upon in that regard. Every effort has been made to ensure that the material contained in this document is accurate at the time of publication. Individuals should seek the advice of professionals, as appropriate, regarding any particular investment. Investors should consult their professional advisors prior to implementing any changes to their investment strategies. These investments may not be suitable to the circumstances of an investor.

Morningstar® is a registered trademark of Morningstar, Inc. (“Morningstar”). The Morningstar® Developed Markets ex-North America Target Value Index™ (the “Index”) is a service mark of Morningstar and has been licensed for use for certain purposes by CI Global Asset Management (“CI GAM”). The securities of the CI Morningstar ETFs (the “ETFs”) are not in any way sponsored, endorsed, sold or promoted by Morningstar or any of its affiliates (collectively, ‘‘Morningstar’’), and Morningstar makes no representation or warranty, express or implied regarding the advisability of investing in securities generally or in the ETFs particularly or the ability of the Index to track general market performance.

© 2026 Morningstar Research, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Morningstar Ratings™ and Morningstar rankings, including percentile or quartile rankings, are based on past performance and do not guarantee future results. Morningstar Ratings are based on risk-adjusted returns, while rankings may be based on total returns or risk-adjusted returns, as applicable, within the same Morningstar category. Ratings and rankings are calculated monthly, reflect performance relative to peers, and may change over time as a result of market conditions or changes in peer group composition. Rankings do not reflect volatility or other measures of risk.

Morningstar Ratings reflect performance as of February 28, 2026 and are subject to change monthly. The ratings are calculated from a fund’s 3, 5, and 10-year returns measured against 91-day Treasury bill and peer group returns. For each time period the top 10% of the funds in a category get five stars. The Overall Rating is a weighted combination of the 3, 5 and 10-year ratings. For greater detail, see www.morningstar.ca.

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CI Morningstar International Value Index ETF (Hedged Common Units) (TSX: VXM) was awarded the 2025 LSEG Lipper Fund Award in the International Equity ETF category for 5 years ending July 31, 2025, out of a classification total of 33 ETFs. CI Morningstar International Value Index ETF (Unhedged Common Units) (TSX: VXM.B) was awarded the 2025 LSEG Lipper Fund Award in the International Equity ETF category for 3 years ending July 31, 2025, out of a classification total of 41 ETFs. Performance for VXM.B for the period ended February 28, 2026: 54.2% (1 year), 28.8% (3 years), 19.5% (5 years) and 12.5% (10 years).

The LSEG Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The LSEG Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is an objective, quantitative, risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the LSEG Lipper Fund Award. For more information, see lipperfundawards.com . Although LSEG Lipper makes reasonable efforts to ensure the accuracy and reliability of the data used to calculate the awards, their accuracy is not guaranteed.

FundGrade A+^® is used with permission from Fundata Canada Inc., all rights reserved. The annual FundGrade A+^® Awards are presented by Fundata Canada Inc. to recognize the “best of the best” among Canadian investment funds. The FundGrade A+^® calculation is supplemental to the monthly FundGrade ratings and is calculated at the end of each calendar year. The FundGrade rating system evaluates funds based on their risk-adjusted performance, measured by Sharpe Ratio, Sortino Ratio, and Information Ratio. The score for each ratio is calculated individually, covering all time periods from 2 to 10 years. The scores are then weighted equally in calculating a monthly FundGrade. The top 10% of funds earn an A Grade; the next 20% of funds earn a B Grade; the next 40% of funds earn a C Grade; the next 20% of funds receive a D Grade; and the lowest 10% of funds receive an E Grade. To be eligible, a fund must have received a FundGrade rating every month in the previous year. The FundGrade A+^® uses a GPA-style calculation, where each monthly FundGrade from “A” to “E” receives a score from 4 to 0, respectively. A fund’s average score for the year determines its GPA. Any fund with a GPA of 3.5 or greater is awarded a FundGrade A+^® Award. For more information, see www.FundGradeAwards.com. Although Fundata makes every effort to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Fundata.

Certain statements contained in this communication are based in whole or in part on information provided by third parties and CI Global Asset Management has taken reasonable steps to ensure their accuracy. Market conditions may change, which may impact the information contained in this document.

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©CI Investments Inc. 2026. All rights reserved.

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Murray Oxby
Vice-President, Corporate Communications
CI Global Asset Management
416-681-3254
moxby@ci.com

Source: CI Global Asset Management