Overview
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Asset ClassFixed Income
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CIFSC CategoryCanadian Short-Term Fixed Income
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Risk RatingLow
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Number of Securities11
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Yield to Maturity4.4%
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Current Yield1.2%
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Average Duration0.8 Years
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Average Credit QualityAA+
Objectives
The ETF’s objective is to provide total returns consisting principally of interest income by investing primarily in liquid short term fixed income and floating rate debt securities of Canadian and foreign issuers.
Investment Focus
The ETF seeks to provide total returns consisting principally of interest income by investing primarily in liquid short term fixed income and floating rate debt securities of Canadian and foreign issuers.
ETF Facts
February 29, 2024Inception Date | August 26, 2022 |
Currency | CAD |
ETF AUM | $4.2 Million |
NAVPU | $10.39 |
MER as of June 30, 2023 (unaudited) | 0.38% |
Liquidity | Daily |
RSP Eligible | Yes |
Management Fee | 0.25% |
Closing Market Price on TSX | $10.40 |
Portfolio Characteristics
Number of Securities | 11 |
Number of Issuers | 8 |
Average Term to Maturity (Years) | 0.8 |
Average Duration (Years) | 0.8 |
Average Coupon (%) | 1.2% |
Yield to Maturity (%) | 4.4% |
Current Yield (%) | 1.2% |
Average Credit Quality | AA+ |
Credit Quality Breakdown
AA & Higher | 82.8% |
A | 16.9% |
BBB | 0.3% |
Portfolio
Top 10 Holdings
Security | % of Fund | Rating |
---|---|---|
GOVERNMENT OF CANADA 0.500% 01-SEP-2025 BD SER K940 | 36.4% | AAA |
CANADIAN GOVERNMENT BOND 0.250% 01-APR-2024 SER L690 | 25.8% | AAA |
GOVERNMENT OF CANADA 0.750% 01-OCT-2024 BD SER M508 | 6.1% | AAA |
BANK OF AMERICA CORP 2.932% 25-APR-2025 RESTRICTED | 6.1% | A |
APPLE INC 2.513% 08/19/2024 DD 08/18/17 | 6.0% | AA+ |
ENBRIDGE GAS DISTRIBUTION INC 3.150% 22-AUG-2024 MTN | 6.0% | A- |
HYDRO ONE INC 2.540% 05-APR-2024 MTM SER 42 | 4.8% | A- |
METROPOLITAN LIFE GLOBAL FDG 3.257% 01-APR-2025 RESTRICTED | 4.3% | AA- |
BANK OF MONTREAL 2.370% 03-FEB-2025 | 3.6% | AA- |
CANADIAN DOLLAR | 0.7% | N/A |
Total | 99.8% |
Geographic Breakdown
Canada | 83.6% |
USA | 16.4% |
Performance
Inception Date
August 26, 2022
As of Date
February 29, 2024
Compound Returns
1 Month | 3 Months | YTD | 1 Year | Since Inception (Annualized) |
0.3% | 1.0% | 0.5% | 4.3% | 3.8% |
Calendar Year Returns
Distributions
Distributions
Distribution Frequency | Monthly |
Most Recent Distribution per Unit | $0.0028 |
12-Month Trailing Distribution Yield | 1.3% |
Next Record Date | March 28, 2024 |
Next Distribution Date | April 10, 2024 |
Monthly Distributions
Record Date | Distribution Date | Distribution Rate/Unit |
---|---|---|
January 31, 2024 | February 12, 2024 | $0.0060 |
February 29, 2024 | March 11, 2024 | $0.0028 |
March 28, 2024 | April 10, 2024 | $0.0067 |
April 30, 2024 | May 10, 2024 | TBD |
May 31, 2024 | June 10, 2024 | TBD |
June 28, 2024 | July 10, 2024 | TBD |
July 31, 2024 | August 12, 2024 | TBD |
August 30, 2024 | September 10, 2024 | TBD |
September 29, 2024 | October 10, 2024 | TBD |
October 31, 2024 | November 11, 2024 | TBD |
November 29, 2024 | December 10, 2024 | TBD |
December 31, 2024 | January 10, 2025 | TBD |
Distributions ($)/Unit2 | YTD* | 2023 | 2022 |
---|---|---|---|
Total Distributions | 0.0088 | 0.1388 | 0.0333 |
Interest | - | 0.0495 | 0.0196 |
Dividends | - | - | - |
Capital Gains | - | 0.0893 | 0.0137 |
Withholding Tax | - | - | - |
Return of Capital | - | - | - |