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 Securities75
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Yield to Maturity6.1%
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Current Yield4.5%
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Average Duration2.0 Years
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Average Credit QualityA-
Objectives
The Fund’s objective is to provide total returns consisting principally of interest income by investing primarily in short term fixed income and floating rate debt securities of Canadian and foreign issuers.
Investment Focus
The fund invests primarily in short term fixed income and floating rate debt securities of Canadian and foreign issuers with a minimum of 75% of the portfolio in BBB or higher.
Fund Facts
December 31, 2022Inception Date | September 18, 2013 |
Currency | CAD |
Fund AUM | $368.6 Million |
NAVPU | $9.89 |
Management Fee | 1.05% |
MER as of June 30, 2022 (unaudited) | 1.40% |
Minimum Initial Investment | $500 |
Minimum Subsequent Investment | $100 |
Liquidity | Daily |
RRSP Eligible | Yes |
Portfolio Characteristics
Number of Securities | 75 |
Number of Issuers | 50 |
Average Term to Maturity (Years) | 6.8 |
Average Duration (Years) | 2.0 |
Average Coupon (%) | 4.2% |
Yield to Maturity (%) | 6.1% |
Current Yield (%) | 4.5% |
Average Credit Quality | A- |
Credit Quality Breakdown
AA & Higher | 30.5% |
A | 28.9% |
BBB | 22.0% |
BB & Lower | 18.0% |
Not Rated | 0.8% |
Portfolio
Top 10 Holdings
Security | % of Fund | Rating |
---|---|---|
Canada 2% Jun 1, 2028 | 8.2% | AAA |
Canada 1% Jun 1, 2027 | 7.5% | AAA |
Pacific Life Global Funding II FRN Feb 1, 2027 (Q CDOR+38) | 7.4% | AA- |
Goldman Sachs FRN Apr 29, 2025 (CDOR+37) | 5.3% | A |
TransCanada Pipelines FRN Jun 9, 2024 (Q CDOR+29) | 3.7% | BBB+ |
Morgan Stanley FRN Mar 21, 2025 (Q CDOR +33) | 3.5% | A+ |
Bank of America Corp FRN Sep 15, 2027 (Q CDOR+60) | 3.4% | A |
Honda Canada Finance Inc. FRN Sep 27, 2024 (Q CDOR+20) | 3.3% | A- |
Bell Canada 3.35% Mar 12, 2025 | 3.0% | BBB+ |
Air Canada 4.625% Aug 15, 2029 | 2.8% | BB |
Total | 48.1% |
Geographic Breakdown
Canada | 65.0% |
USA | 30.4% |
Europe | 4.0% |
Other | 0.7% |
Performance
Inception Date
September 18, 2013
As of Date
December 31, 2022
Compound Returns
1 Month | 3 Months | YTD | 1 Year | 3 Year (Annualized) |
5 Year (Annualized) |
Since Inception (Annualized) |
-0.2% | 0.9% | -3.9% | -3.9% | 0.9% | 1.1% | 1.4% |
Calendar Year Returns
Awards

Refinitiv Lipper Fund Awards
The Refinitiv Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers.
Best Canadian Short Term Fixed Income Fund Over Three Years

FundGrade A+ Awards
The FundGrade A+® Award is given annually to investment funds and their managers who have shown consistent, outstanding, risk-adjusted performance through the year.
Canadian Short Term Fixed Income
Distributions
Distributions
Distribution Frequency | Quarterly |
Most Recent Distribution per Unit | $0.0606 |
12-Month Trailing Distribution Yield | 1.8% |
Next Record Date | March 30, 2023 |
Next Distribution Date | March 31, 2023 |
Quarterly Distributions
Record Date | Distribution Date |
---|---|
March 24, 2022 | March 25, 2022 |
June 23, 2022 | June 24, 2022 |
September 29, 2022 | September 30, 2022 |
December 15, 2022 | December 16, 2022 |
Distributions ($)/Unit3 | YTD* | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
---|---|---|---|---|---|---|---|---|---|---|
Total Distributions | 0.1738 | 0.0757 | 0.2066 | 0.2104 | 0.1337 | 0.0875 | 0.1604 | 0.1555 | 0.2092 | 0.0171 |
Interest | - | 0.0590 | 0.1957 | 0.2104 | 0.1337 | 0.0794 | 0.1609 | 0.1414 | 0.2098 | 0.0171 |
Dividends | - | 0.0001 | 0.0001 | - | - | - | - | - | - | - |
Capital Gains | - | 0.0166 | 0.0108 | - | - | 0.0085 | 0.0000 | 0.0144 | - | - |
Withholding Tax | - | - | - | - | - | (0.0004) | (0.0005) | (0.0003) | (0.0006) | - |