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 Securities13
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Yield to Maturity5.3%
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Current Yield5.4%
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Average Duration0.2 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
March 31, 2024Inception Date | August 26, 2022 |
Currency | CAD |
ETF AUM | $4.6 Million |
NAVPU | $10.15 |
MER as of December 31, 2023 | 0.49% |
Liquidity | Daily |
RSP Eligible | Yes |
Management Fee | 0.35% |
Closing Market Price on TSX | $10.17 |
Portfolio Characteristics
Number of Securities | 13 |
Number of Issuers | 10 |
Average Term to Maturity (Years) | 2.7 |
Average Duration (Years) | 0.2 |
Average Coupon (%) | 5.4% |
Yield to Maturity (%) | 5.3% |
Current Yield (%) | 5.4% |
Average Credit Quality | AA+ |
Credit Quality Breakdown
AA & Higher | 78.2% |
A | 18.6% |
BBB | 3.2% |
Portfolio
Top 10 Holdings
Security | % of Fund | Rating |
---|---|---|
CANADA HOUSING TRUST NO 1 VAR RT 15-MAR-2027 | 63.0% | AAA |
BANK OF AMERICA CORP VAR RT 15-SEP-2027 RESTRICTED | 5.0% | A+ |
HYDRO ONE INC | 4.9% | A- |
HONDA CANADA FINANCE INC | 4.8% | A- |
TORONTO-DOMINION BANK/THE | 4.3% | AAA |
METROPOLITAN LIFE GLOBAL FUNDING I VARIABLE 15-JUN-2026 RESTRICTED | 3.8% | AA- |
BANK OF NOVA SCOTIA/THE VAR RT, 2026/09/08 | 3.8% | AAA |
GOLDMAN SACHS GROUP INC VAR RT 29-APR-2025 | 3.8% | A |
PACIFIC LIFE GLOBAL FUNDING II | 2.6% | AA- |
TRANSCANADA PIPELINES LTD VAR RT 06/09/2024 DD 06/09/21 | 1.6% | BBB+ |
Total | 97.6% |
Geographic Breakdown
Canada | 84.7% |
USA | 15.3% |
Performance
Inception Date
August 26, 2022
As of Date
March 31, 2024
Compound Returns
1 Month | 3 Months | YTD | 1 Year | Since Inception (Annualized) |
0.4% | 1.3% | 1.3% | 5.2% | 4.8% |
Calendar Year Returns
Distributions
Distributions
Distribution Frequency | Monthly |
Most Recent Distribution per Unit | $0.0365 |
12-Month Trailing Distribution Yield | 4.4% |
Next Record Date | April 30, 2024 |
Next Distribution Date | May 10, 2024 |
Monthly Distributions
Record Date | Distribution Date | Distribution Rate/Unit |
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January 31, 2024 | February 12, 2024 | $0.0505 |
February 29, 2024 | March 11, 2024 | $0.0173 |
March 28, 2024 | April 10, 2024 | $0.0365 |
April 30, 2024 | May 10, 2024 | TBD |
May 31, 2024 | June 10, 2024 | TBD |
June 28, 2024 | July 10, 2024 | TBD |
July 31, 2024 | August 12, 2024 | TBD |
August 30, 2024 | September 10, 2024 | TBD |
September 29, 2024 | October 10, 2024 | TBD |
October 31, 2024 | November 11, 2024 | TBD |
November 29, 2024 | December 10, 2024 | TBD |
December 31, 2024 | January 10, 2025 | TBD |
Distributions ($)/Unit2 | YTD* | 2023 | 2022 |
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Total Distributions | 0.1043 | 0.4228 | 0.0747 |
Interest | - | 0.4067 | 0.0623 |
Dividends | - | - | - |
Capital Gains | - | 0.0161 | 0.0124 |
Withholding Tax | - | - | - |
Return of Capital | - | - | - |