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 Securities14
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Yield to Maturity3.8%
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Current Yield3.9%
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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
December 31, 2024Inception Date | August 26, 2022 |
Currency | CAD |
ETF AUM | $5.6 Million |
NAVPU | $10.11 |
MER as of June 30, 2024 (unaudited) | 0.49% |
Liquidity | Daily |
RSP Eligible | Yes |
Management Fee | 0.35% |
Closing Market Price on TSX | $10.12 |
Portfolio Characteristics
Number of Securities | 14 |
Number of Issuers | 11 |
Average Term to Maturity (Years) | 1.9 |
Average Duration (Years) | 0.1 |
Average Coupon (%) | 3.9% |
Yield to Maturity (%) | 3.8% |
Current Yield (%) | 3.9% |
Average Credit Quality | AA |
Credit Quality Breakdown
AA & Higher | 64.4% |
A | 35.6% |
Portfolio
Top 10 Holdings
Security | % of Fund | Rating |
---|---|---|
CANADA HOUSING TRUST NO 1 VAR RT 15-MAR-2027 | 39.2% | AAA |
CANADIAN IMPERIAL BK OF COMM VAR RT 15-JUL-2026 | 8.0% | A |
HYDRO ONE INC | 7.9% | A |
NEW YORK LIFE GLOBAL FUNDING | 5.5% | AAA |
METROPOLITAN LIFE GLOBAL FUNDING I VARIABLE 15-JUN-2026 RESTRICTED | 5.5% | AA- |
TORONTO-DOMINION BANK/THE | 5.4% | AAA |
BANK OF AMERICA CORP VAR RT 15-SEP-2027 RESTRICTED | 5.4% | A+ |
PACIFIC LIFE GLOBAL FUNDING II | 5.0% | AA- |
VW CREDIT CANADA INC 4.917669 | 4.7% | A- |
HONDA CANADA FINANCE INC | 4.4% | A- |
Total | 91.0% |
Geographic Breakdown
Canada | 78.3% |
USA | 21.7% |
Performance
Inception Date
August 26, 2022
As of Date
December 31, 2024
Compound Returns
1 Month | 3 Months | YTD | 1 Year | Since Inception (Annualized) |
0.3% | 1.0% | 4.8% | 4.8% | 4.7% |
Calendar Year Returns
Distributions
Distributions
Distribution Frequency | Monthly |
Most Recent Distribution per Unit | $0.0782 |
12-Month Trailing Distribution Yield | 4.8% |
Next Record Date | January 31, 2025 |
Next Distribution Date | February 10, 2025 |
Monthly Distributions
Record Date | Distribution Date | Distribution Rate/Unit |
---|---|---|
January 31, 2025 | February 10, 2025 | $0.0138 |
February 28, 2025 | March 10, 2025 | TBD |
March 31, 2025 | April 10, 2025 | TBD |
April 30, 2025 | May 12, 2025 | TBD |
May 30, 2025 | June 10, 2025 | TBD |
June 30, 2025 | July 10, 2025 | TBD |
July 31, 2025 | August 11, 2025 | TBD |
August 29, 2025 | September 10, 2025 | TBD |
September 29, 2025 | October 10, 2025 | TBD |
October 31, 2025 | November 10, 2025 | TBD |
November 28, 2025 | December 10, 2025 | TBD |
December 31, 2025 | January 12, 2026 | TBD |
Distributions ($)/Unit2 | YTD* | 2023 | 2022 |
---|---|---|---|
Total Distributions | 0.4861 | 0.4228 | 0.0747 |
Interest | - | 0.4067 | 0.0623 |
Dividends | - | - | - |
Capital Gains | - | 0.0161 | 0.0124 |
Withholding Tax | - | - | - |
Return of Capital | - | - | - |