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 Securities57
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Yield to Maturity6.9%
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Current Yield3.6%
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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
October 31, 2023Inception Date | September 18, 2013 |
Currency | CAD |
Fund AUM | $262.0 Million |
NAVPU | $9.92 |
Management Fee | 1.05% |
MER as of June 30, 2023 (unaudited) | 1.26% |
Minimum Initial Investment | $500 |
Minimum Subsequent Investment | $100 |
Liquidity | Daily |
RRSP Eligible | Yes |
Portfolio Characteristics
Number of Securities | 57 |
Number of Issuers | 39 |
Average Term to Maturity (Years) | 3.4 |
Average Duration (Years) | 2.0 |
Average Coupon (%) | 3.3% |
Yield to Maturity (%) | 6.9% |
Current Yield (%) | 3.6% |
Average Credit Quality2 | A |
Credit Quality Breakdown
AA & Higher | 46.6% |
A | 20.8% |
BBB | 16.0% |
BB & Lower | 15.7% |
Not Rated | 0.9% |
Portfolio
Top 10 Holdings
Security | % of Fund | Rating |
---|---|---|
Canada 0.25% Mar 01, 2026 | 20.8% | AAA |
Canada 0.75% Oct 1, 2024 | 8.0% | AAA |
Bank of America Corp FRN Sep 15, 2027 (Q CDOR+60) | 5.0% | A+ |
Pacific Life Global Funding II FRN Feb 1, 2027 (Q CDOR+38) | 4.2% | AA- |
Bell Canada 3.35% Mar 12, 2025 | 4.2% | BBB+ |
Canada RRB 4.25% Dec 1, 2026 | 4.1% | AAA |
Nav Canada 0.555% Feb 9, 2024 | 3.6% | AA- |
TD Bank 4.477% Jan 18, 2028 | 3.5% | A+ |
RBC 4.642% Jan 17, 2028 | 3.2% | A+ |
Manulife Financial Corp (AT1) 3.375% Jun 19, 2026/2081 | 3.1% | BBB+ |
Total | 59.7% |
Geographic Breakdown
Canada | 76.6% |
USA | 19.8% |
South America | 1.0% |
Europe | 2.6% |
Performance
Inception Date
September 18, 2013
As of Date
October 31, 2023
Compound Returns
1 Month | 3 Months | YTD | 1 Year | 3 Year (Annualized) |
5 Year (Annualized) |
10 Year (Annualized) |
Since Inception (Annualized) |
0.0% | -0.2% | 3.2% | 3.8% | 0.9% | 1.6% | 1.7% | 1.6% |
Calendar Year Returns
Awards

LSEG Lipper Fund Awards
The LSEG Lipper Fund Awards Canada, 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 5 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 | $0.0843 |
12-Month Trailing Distribution Yield | 3.5% |
Next Record Date | December 14, 2023 |
Next Distribution Date | December 15, 2023 |
Quarterly Distributions
Record Date | Distribution Date |
---|---|
March 30, 2023 | March 31, 2023 |
June 29, 2023 | June 30, 2023 |
September 28, 2023 | September 29, 2023 |
December 14, 2023 | December 15, 2023 |
Distributions ($)/Unit3 | YTD* | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
---|---|---|---|---|---|---|---|---|---|---|---|
Total Distributions | 0.2863 | 0.1738 | 0.0757 | 0.2066 | 0.2104 | 0.1337 | 0.0875 | 0.1604 | 0.1555 | 0.2092 | 0.0171 |
Interest | - | 0.1734 | 0.0590 | 0.1957 | 0.2104 | 0.1337 | 0.0794 | 0.1609 | 0.1414 | 0.2098 | 0.0171 |
Dividends | - | 0.0004 | 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) | - |