Lysander-Slater Preferred Share ActivETF

  • TSX Ticker: PR
  • Portfolio Manager: Slater Asset Management Inc.
  • As of: May 31, 2025
  • Asset Class: Preferred Shares
  • CIFSC Category: Preferred Share Fixed Income
  • Benchmark: S&P/TSX Preferred Share Total Return Index1

Investment Objective

The ETF seeks to generate income while preserving investor capital by investing primarily in preferred securities of Canadian issuers that are listed on a Canadian stock exchange.

Risk Rating

Why Invest in this ETF?

Founded in 2009, Slater Asset Management is an independent portfolio manager with a focus on delivering dedicated, active management of Canadian preferred share portfolios to investors. Slater’s approach to investing in preferred shares is based on identifying high quality preferred shares that are at a discount to the market. Slater is committed to the ongoing monitoring of preferred share valuations to provide prudent risk management.

  • Experience – Portfolio Manager with over 20 years’ experience managing portfolios of preferred shares.
  • Active management – Slater’s active portfolio construction results in a well-diversified portfolio of preferred shares offering diversification from traditional equity and fixed income securities.
  • Tax Efficient Income – Slater invests in Canadian preferred shares which are taxed at a more favourable rate than interest income because of the federal dividend tax credit.

ETF Facts

Inception Date August 10, 2015
Currency CAD
ETF AUM $79.0 Million
NAVPU $9.88
Closing Market Price on TSX $9.89
Management Fee 0.65%
MER as of December 31, 2024 0.89%
Liquidity Daily
RSP Eligible Yes

Compound Returns

1 Month 3 Months YTD 1 Year 3 Year
(Annualized)		 5 Year
(Annualized)		 Since Inception
(Annualized)
ETF 2.6% 0.2% 2.4% 10.5% 5.5% 12.4% 4.7%
Benchmark 5.0% 1.6% 4.4% 14.0% 5.9% 10.9% 4.5%

Calendar Year Returns

Lysander Funds Limited
Lysander-Slater Preferred Share ActivETF

Top 10 Holdings

Security % of Fund
Canadian T-Bill 08-27-25 11.0%
TD Bank $1000 Preferred 7.23% 8.8%
Royal Bank $1000 Preferred 7.4% 7.5%
Bank Of Nova Scotia 7.023% 5.0%
CIBC $1000 Preferred 7.337% 4.9%
Bank of Montreal $1000 Preferred 7.057%        4.8%
Bank of Montreal $1000 Preferred 7.37%          4.7%
TC Energy Preferred 3.7%
CIBC $1000 Preferred 7.365%                                       3.2%
US Dollar 2.7%
Total 56.3%

Portfolio Characteristics

Number of Securities 66
Current Yield (%) 6.0%

Credit Rating

P1/P2 26.4%
P2/P3 10.6%
P3 7.9%
Cash & Other 55.1%
Total 100.0%

Structure

Fixed Resets 71.2%
Straight Perpetual 15.4%
Floater 0.9%
Cash & Equivalents 8.8%
Other 3.7%
Total 100.0%

Distributions

  • Distribution Frequency: Monthly
  • Most Recent Distribution per Unit: $0.0390
  • 12-Month Trailing Distribution Yield: 4.7%
  • Next Record Date: June 30, 2025
  • Next Distribution Date: July 10, 2025
Distributions ($)/Unit2 YTD* 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Total Distributions 0.1950 0.4400 0.3971 0.4110 0.3950 0.4290 0.4190 0.4145 0.7156 0.3730 0.1110
Interest – 0.0623 0.0234 – – – – – – – –
Dividends – 0.3735 0.3737 0.3393 0.3050 0.3847 0.3726 0.3225 0.2692 0.3590 0.1050
Capital Gains – – – – – – – 0.0596 0.4365 – –
Withholding Tax – – – – – – – – – – –
Return of Capital – 0.0041 – 0.0717 0.0900 0.0443 0.0464 0.0324 0.0099 0.0140 0.0060
*The final tax character will be determined based on the Fund’s tax year end information.
Lysander Funds Limited
Lysander-Slater Preferred Share ActivETF

Lysander Funds Limited is the investment fund manager of Lysander-Slater Preferred Share ActivETF (the “Fund”). This document is not an invitation to invest in the Fund and does not constitute a public offering of sale. Commissions, trailing commissions, management fees and expenses all may be associated with investment funds.

The indicated rates of return are based on calculated net asset values per unit, which are net of management fees, operating expenses, and applicable taxes. These returns include changes in unit value and reinvestment of all distributions and do not take into account certain fees such as redemption fees or optional charges or income taxes payable by any securityholder that would have reduced returns. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

1TSX © Copyright 2025 TSX Inc. All Rights Reserved.

2Distributions are based on the actual number of units outstanding on the record date. Distributions are paid in cash and an investor that receives these distributions should expect that the value of their investment will decline over time. Distributions are not an indication of performance, rate of return or yield. If the Fund’s net income/capital gains is less than the amounts distributed in the tax year, the distribution will include a return of capital.

®Lysander Funds is a registered trademark of Lysander Funds Limited.

Lysander Funds Ltd., 3080 Yonge St., Suite 4000, Toronto, ON, M4N 3N1
Toll Free: (877) 308-6979 Website: www.lysanderfunds.com
Lysander Funds Limited