Overview
-
Asset ClassFixed Income
-
CIFSC CategoryCanadian Short-Term Fixed Income
-
Risk RatingLow
-
Number of Securities15
-
Yield to Maturity3.7%
-
Current Yield1.4%
-
Average Duration0.8 Years
-
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
April 30, 2023Inception Date | August 26, 2022 |
Currency | CAD |
ETF AUM | $4.1 Million |
NAVPU | $10.16 |
MER as of December 31, 2022 | 0.38% |
Liquidity | Daily |
RRSP Eligible | Yes |
Management Fee | 0.25% |
Closing Market Price on TSX | $10.17 |
Portfolio Characteristics
Number of Securities | 15 |
Number of Issuers | 8 |
Average Term to Maturity (Years) | 0.9 |
Average Duration (Years) | 0.8 |
Average Coupon (%) | 1.4% |
Yield to Maturity (%) | 3.7% |
Current Yield (%) | 1.4% |
Average Credit Quality | AA+ |
Credit Quality Breakdown
AA & Higher | 93.4% |
A | 6.4% |
BBB | 0.2% |
Portfolio
Top 10 Holdings
Security | % of Fund | Rating |
---|---|---|
GOVERNMENT OF CANADA 0.250% 01-MAY-2023 SER L856 | 27.7% | AAA |
GOVERNMENT OF CANADA 0.750% 01-FEB-2024 SER M920 | 7.7% | AAA |
CANADA HOUSING TRUST NO 1 0.950% 15-JUN-2025 | 7.5% | AAA |
CANADA HOUSING TRUST NO 1 VAR RT 15-SEP-2024 SER 89 | 7.4% | AAA |
HYDRO ONE INC 2.540% 05-APR-2024 MTM SER 42 | 5.2% | A- |
APPLE INC 2.513% 08/19/2024 DD 08/18/17 | 4.5% | AA+ |
CANADIAN GOVERNMENT BOND 0.250% 01-APR-2024 SER L690 | 4.5% | AAA |
TORONTO DOMINION BANK 1.909% 18-JUL-2023 DEP NTS | 3.8% | AA- |
ROYAL BANK OF CANADA 2.333% 05-DEC-2023 SR DEP NT | 3.7% | AA |
METROPOLITAN LIFE GLOBAL FDG 3.257% 01-APR-2025 RESTRICTED | 2.2% | AA- |
Total | 74.2% |
Geographic Breakdown
Canada | 88.0% |
USA | 12.0% |
Performance
Performance data is not available as the ETF has not been offered under a prospectus for 12 consecutive months.
Distributions
Distributions
Distribution Frequency | Monthly |
Most Recent Distribution per Unit | $0.0092 |
12-Month Trailing Distribution Yield | 0.6% |
Next Record Date | May 31, 2023 |
Next Distribution Date | June 12, 2023 |
Monthly Distributions
Record Date | Distribution Date | Distribution Rate/Unit |
---|---|---|
January 31, 2023 | February 10, 2023 | $0.0049 |
February 28, 2023 | March 10, 2023 | $0.0088 |
March 31, 2023 | April 10, 2023 | $0.0064 |
April 28, 2023 | May 10, 2023 | $0.0092 |
May 31, 2023 | June 12, 2023 | $0.0076 |
June 30, 2023 | July 10, 2023 | TBD |
July 31, 2023 | August 10, 2023 | TBD |
August 31, 2023 | September 11, 2023 | TBD |
September 29, 2023 | October 10, 2023 | TBD |
October 31, 2023 | November 10, 2023 | TBD |
November 30, 2023 | December 11, 2023 | TBD |
December 29, 2023 | January 10, 2024 | TBD |
Distributions ($)/Unit2 | YTD* | 2022 |
---|---|---|
Total Distributions | 0.0293 | 0.0333 |
Interest | - | 0.0196 |
Dividends | - | - |
Capital Gains | - | 0.0137 |
Withholding Tax | - | - |
Return of Capital | - | - |