Overview
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Asset ClassFixed Income
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CategoryCanadian Short-Term Fixed Income
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Risk RatingLow
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Number of Securities10
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Yield to Maturity4.7%
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Current Yield4.1%
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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
December 31, 2022Inception Date | September 1, 2022 |
Currency | CAD |
ETF AUM | $3.0 Million |
NAVPU | $10.04 |
MER | N/A |
Liquidity | Daily |
RRSP Eligible | Yes |
Management Fee | 0.35% |
Closing Market Price on TSX | $10.08 |
Portfolio Characteristics
Number of Securities | 10 |
Number of Issuers | 9 |
Average Term to Maturity (Years) | 1.0 |
Average Duration (Years) | 0.2 |
Average Coupon (%) | 4.1% |
Yield to Maturity (%) | 4.7% |
Current Yield (%) | 4.1% |
Average Credit Quality | AA |
Credit Quality Breakdown
AA & Higher | 80.0% |
A | 15.0% |
BBB | 5.0% |
Portfolio
Top 10 Holdings
Security | % of Fund | Rating |
---|---|---|
CANADA HOUSING TRUST NO.1 VAR RT 15-MAR-2023 NTS SER 81 | 23.7% | AAA |
CANADA HOUSING TRUST NO 1 VAR RT 15-SEP-2024 SER 89 | 23.7% | AAA |
GOVERNMENT OF CANADA 0.250% 01-FEB-2023 SER L773 | 15.7% | AAA |
PROV OF ONTARIO VAR RT 21-AUG-2023 MTN | 12.0% | AA- |
HONDA CANADA FINANCE INC VAR RT 26-FEB-2024 RESTRICTED | 6.0% | A- |
TRANSCANADA PIPELINES LTD VAR RT 06/09/2024 DD 06/09/21 | 5.0% | BBB+ |
BANK OF AMERICA CORP VAR RT 15-SEP-2027 RESTRICTED | 4.9% | A |
MORGAN STANLEY VAR RT 21-MAR-2025 | 3.9% | A+ |
CANADIAN IMPERIAL BK OF COMM VAR RT 19-APR-2023 | 2.0% | AA- |
Bank of Montreal VAR RT 25-APR-2023 DEP NT | 2.0% | AA- |
Total | 98.9% |
Geographic Breakdown
Canada | 91.1% |
USA | 8.9% |
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 | $0.0127 |
12-Month Trailing Distribution Yield | 0.7% |
Next Record Date | January 31, 2023 |
Next Distribution Date | February 10, 2023 |
Monthly Distributions
Record Date | Payment Date | Distribution Rate/Unit |
---|---|---|
September 29, 2022 | October 11, 2022 | $0.00910 |
October 31, 2022 | November 10, 2022 | $0.05290 |
December 30, 2022 | January 10, 2023 | $0.01270 |
Distributions ($)/Unit2 | YTD* |
---|---|
Total Distributions | 0.0747 |
Interest | - |
Dividends | - |
Capital Gains | - |
Withholding Tax | - |
Return of Capital | - |