Overview
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Asset ClassFixed Income
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CIFSC CategoryGlobal Fixed Income
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Risk RatingLow
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Number of Securities33
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Yield to Maturity4.3%
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Current Yield3.3%
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Average Duration2.5 Years
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Average Credit Quality2AA-
Objectives
The Fund’s objective is to provide total return by investing primarily in investments in U.S. dollar denominated 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 either denominated in U.S. dollars or hedged to U.S. dollars with a minimum of 75% of the portfolio in BBB or higher.
Fund Facts
February 28, 2025Inception Date | May 12, 2021 |
Currency | USD |
Fund AUM | $5.8 Million |
NAVPU | $10.11 |
Management Fee | 0.45% |
MER as of June 30, 2024 (unaudited) | 0.92% |
Minimum Initial Investment | $500 |
Minimum Subsequent Investment | $100 |
Liquidity | Daily |
RSP Eligible | Yes |
Portfolio Characteristics
Number of Securities | 33 |
Number of Issuers | 23 |
Average Term to Maturity (Years) | 2.8 |
Average Duration (Years) | 2.5 |
Average Coupon (%) | 3.2% |
Yield to Maturity (%) | 4.3% |
Current Yield (%) | 3.3% |
Average Credit Quality2 | AA- |
Credit Quality Breakdown
AA & Higher | 52.4% |
A | 33.3% |
BBB | 10.1% |
BB & Lower | 3.8% |
Not Rated | 0.4% |
Portfolio
Top 10 Holdings
Security | % of Fund | Rating |
---|---|---|
US Treasury 0.375% Sep 30, 2027 (USD) | 10.2% | AAA |
US Treasury 1.625% Aug 15, 2029 (USD) | 9.0% | AAA |
JP Morgan Chase & Co. FF 1.578% Apr 22, 2026/27 (USD) | 5.8% | A |
Goldman Sachs FF 3.85% Jan 26, 2027 (USD) | 5.4% | A |
RBC CB 4.256% Dec 21, 2026 | 5.0% | AAA |
TD Bank CB 4.516% Jan 29, 2027 | 5.0% | AAA |
Lloyds Banking Group PLC 5.087% Nov 26, 2028 (USD) | 4.9% | BBB+ |
Bank of America Corp 3.248% Oct 21, 2027 (USD) | 4.8% | AA- |
Manulife Financial Corp 2.484% May 19, 2027 (USD) | 4.6% | A |
American Honda Finance 4.4% Sep 5, 2029 (USD) | 4.3% | A- |
Total | 59.0% |
Geographic Breakdown
Canada | 37.8% |
USA | 53.0% |
Europe | 9.2% |
Performance
Inception Date
May 12, 2021
As of Date
February 28, 2025
Compound Returns
1 Month | 3 Months | YTD | 1 Year | 3 Year (Annualized) |
Since Inception (Annualized) |
0.7% | 1.4% | 1.3% | 6.0% | 3.9% | 2.7% |
Calendar Year Returns
Distributions
Distributions
Distribution Frequency | Quarterly |
Most Recent Distribution per Unit | $0.0615 |
12-Month Trailing Distribution Yield | 2.5% |
Next Record Date | March 20, 2025 |
Next Distribution Date | March 21, 2025 |
Quarterly Distributions
Record Date | Distribution Date |
---|---|
March 20, 2025 | March 21, 2025 |
June 19, 2025 | June 20, 2025 |
September 18, 2025 | September 19, 2025 |
December 18, 2025 | December 19, 2025 |
Distributions ($)/Unit3 | YTD* | 2024 | 2023 | 2022 | 2021 |
---|---|---|---|---|---|
Total Distributions | 0.0000 | 0.2542 | 0.3692 | 0.1777 | 0.0810 |
Interest | - | 0.2542 | 0.3692 | 0.1777 | 0.0498 |
Dividends | - | 0.0000 | - | - | - |
Capital Gains | - | 0.0000 | - | - | 0.0312 |
Withholding Tax | - | 0.0000 | - | - | - |