<p>CIBC Private Wealth consists of services provided by CIBC and certain of its subsidiaries: CIBC Private Banking; CIBC Private Investment Counsel, a division of CIBC Asset Management Inc. (&ldquo;CAM&rdquo;); CIBC Trust Corporation; and CIBC Wood Gundy, a division of CIBC World Markets Inc. (&ldquo;WMI&rdquo;). CIBC Private Banking provides solutions from CIBC Investor Services Inc.(&ldquo;ISI&rdquo;), CAM and credit products. CIBC World Markets Inc. and ISI are both Members of the Canadian Investor Protection Fund and Investment Industry Regulatory Organization of Canada. CIBC Private Wealth services are available to qualified individuals. The CIBC logo and &ldquo;CIBC Private Wealth&rdquo; are trademarks of CIBC, used under license.</p> <p><br /> Scott Sheppard is an Investment Advisor with CIBC Wood Gundy in Corner Brook, NL. He and his clients may own securities mentioned in this column The views of Scott Sheppard do not necessarily reflect those of CIBC World Markets Inc</p> <p><br /> There are ongoing fees and expenses associated with owning shares of an Exchange-Traded Fund (ETF). An ETF must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the fund in the attached hyperlinks associated with the tickers; XIU, XSP, VEQT. The indicated rates of return are the historical annual compounded total returns including changes in share value and reinvestment of all dividends or distributions and does not take into account income taxes payable by any securityholder that would have reduced returns. 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 shares of the Exchange Traded Fund (ETF) on the TSX, NYSE, NASDAQ or other market on which the securities of the ETF are listed or quoted. If the shares are purchased or sold on TSX, NYSE, NASDAQ or other, investors may pay more than the current net asset value when buying shares of the ETF and may receive less than the current net asset value when selling them.</p> <p><br /> The index benchmarks referenced are not guaranteed, their values change frequently and past performance may not be repeated.&nbsp;</p> <p><br /> This report is not an official record. The information contained in this report is to assist you in managing your investment portfolio recordkeeping and cannot be guaranteed as accurate for income tax purposes. In the event of a discrepancy between this report and your client statement or tax slips, the client statement or tax slip should be considered the official record of your account(s). Please consult your tax advisor for further information. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. Some positions may be held at other institutions not covered by the Canadian Investor Protection Fund (CIPF). Refer to your official statements to determine which positions are eligible for CIPF protection or held in segregation. Calculations/projections are based on a number of assumptions; actual results may differ. Yields/rates are as of the date of this report unless otherwise noted. Benchmark totals on performance reports do not include dividend values unless the benchmark is a Total Return Index, denoted with a reference to &#39;TR&#39; or &#39;Total Return&#39;. CIBC Wood Gundy is a division of CIBC World Markets Inc., a subsidiary of CIBC.</p> <p>&nbsp;</p> <p>Clients are advised to seek advice regarding their particular circumstances from their personal tax and legal advisors.</p> <p><br /> CIBC Private Wealth Management consists of services provided by CIBC and certain of its subsidiaries, including CIBC Wood Gundy, a division of CIBC World Markets Inc.</p> <p>&nbsp;</p> <p>This information, including any opinion, is based on various sources believed to be reliable, but its accuracy cannot be guaranteed and is subject to change. CIBC and CIBC World Markets Inc., their affiliates, directors, officers and employees may buy, sell, or hold a position in securities of a company mentioned herein, its affiliates or subsidiaries, and may also perform financial advisory services, investment banking or other services for, or have lending or other credit relationships with the same. CIBC World Markets Inc. and its representatives will receive sales commissions and/or a spread between bid and ask prices if you purchase, sell or hold the securities referred to above. &copy; CIBC World Markets Inc. 2023.</p> <p><br /> If you are currently a CIBC Wood Gundy client, please contact your Investment Advisor.</p> <p><br /> Source for competing investment returns is morninstar.ca</p>