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 Securities15
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Yield to Maturity5.1%
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Current Yield5.2%
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Average Duration0.1 Years
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Average Credit QualityAA
Objectives
The investment objective of the ETF is to provide total returns consisting principally of interest income by investing primarily in floating rate and other short term 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 floating rate and other short term debt securities of Canadian and foreign issuers.
ETF Facts
August 31, 2023Inception Date | August 26, 2022 |
Currency | CAD |
ETF AUM | $3.0 Million |
NAVPU | $10.14 |
MER as of June 30, 2023 (unaudited) | 0.49% |
Liquidity | Daily |
RRSP Eligible | Yes |
Management Fee | 0.35% |
Closing Market Price on TSX | $10.16 |
Portfolio Characteristics
Number of Securities | 15 |
Number of Issuers | 10 |
Average Term to Maturity (Years) | 2.2 |
Average Duration (Years) | 0.1 |
Average Coupon (%) | 5.2% |
Yield to Maturity (%) | 5.1% |
Current Yield (%) | 5.2% |
Average Credit Quality | AA |
Credit Quality Breakdown
AA & Higher | 69.0% |
A | 25.6% |
BBB | 5.4% |
Portfolio
Top 10 Holdings
Security | % of Fund | Rating |
---|---|---|
CANADA HOUSING TRUST NO 1 VAR RT 15-MAR-2027 | 33.8% | AAA |
CANADA HOUSING TRUST NO 1 VAR RT 15-SEP-2024 SER 89 | 19.3% | AAA |
CANADIAN TREASURY BILL | 9.1% | AAA |
HONDA CANADA FINANCE INC VAR RT 26-FEB-2024 RESTRICTED | 6.0% | A- |
BANK OF AMERICA CORP VAR RT 15-SEP-2027 RESTRICTED | 5.3% | A+ |
TRANSCANADA PIPELINES LTD VAR RT 06/09/2024 DD 06/09/21 | 5.0% | BBB+ |
GOLDMAN SACHS GROUP INC VAR RT 29-APR-2025 | 4.9% | A |
BANK OF NOVA SCOTIA/THE VAR RT, 2026/09/08 | 4.3% | AAA |
MORGAN STANLEY VAR RT 21-MAR-2025 | 4.0% | A+ |
ROYAL BANK OF CANADA VAR RT, 2023/11/24 | 4.0% | A+ |
Total | 95.7% |
Geographic Breakdown
Canada | 78.6% |
USA | 21.4% |
Performance
Inception Date
August 26, 2022
As of Date
August 31, 2023
Compound Returns
1 Month | 3 Months | YTD | 1 Year | Since Inception (Annualized) |
0.5% | 1.7% | 3.7% | 4.9% | 4.9% |
Calendar Year Returns
Distributions
Distributions
Distribution Frequency | Monthly |
Most Recent Distribution per Unit | $0.0375 |
12-Month Trailing Distribution Yield | 3.4% |
Next Record Date | September 29, 2023 |
Next Distribution Date | October 10, 2023 |
Monthly Distributions
Record Date | Distribution Date | Distribution Rate/Unit |
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January 31, 2023 | February 10, 2023 | $0.0199 |
February 28, 2023 | March 10, 2023 | $0.0313 |
March 31, 2023 | April 10, 2023 | $0.0321 |
April 28, 2023 | May 10, 2023 | $0.0360 |
May 31, 2023 | June 12, 2023 | $0.0337 |
June 30, 2023 | July 10, 2023 | $0.0383 |
July 31, 2023 | August 10, 2023 | $0.0384 |
August 31, 2023 | September 11, 2023 | $0.0375 |
September 29, 2023 | October 10, 2023 | TBD |
October 31, 2023 | November 10, 2023 | TBD |
November 30, 2023 | December 11, 2023 | TBD |
December 29, 2023 | January 10, 2024 | TBD |
Distributions ($)/Unit2 | YTD* | 2022 |
---|---|---|
Total Distributions | 0.2672 | 0.0747 |
Interest | - | 0.0623 |
Dividends | - | - |
Capital Gains | - | 0.0124 |
Withholding Tax | - | - |
Return of Capital | - | - |