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 Securities65
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Yield to Maturity3.8%
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Current Yield3.7%
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Average Duration2.6 Years
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Average Credit Quality2A+
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
November 30, 2024Inception Date | September 18, 2013 |
Currency | CAD |
Fund AUM | $223.4 Million |
NAVPU | $10.74 |
Management Fee | 0.55% |
MER as of June 30, 2024 (unaudited) | 0.69% |
Minimum Initial Investment | $500 |
Minimum Subsequent Investment | $100 |
Liquidity | Daily |
RSP Eligible | Yes |
Portfolio Characteristics
Number of Securities | 65 |
Number of Issuers | 40 |
Average Term to Maturity (Years) | 3.3 |
Average Duration (Years) | 2.6 |
Average Coupon (%) | 3.7% |
Yield to Maturity (%) | 3.8% |
Current Yield (%) | 3.7% |
Average Credit Quality2 | A+ |
Credit Quality Breakdown
AA & Higher | 48.7% |
A | 28.9% |
BBB | 11.5% |
BB & Lower | 9.6% |
Not Rated | 1.3% |
Portfolio
Top 10 Holdings
Security | % of Fund | Rating |
---|---|---|
Canada 2% Jun 1, 2028 | 8.6% | AAA |
New York Life Global FDG 2% Apr 17, 2028 | 5.6% | AAA |
TD Bank 4.477% Jan 18, 2028 | 4.4% | A |
RBC 4.642% Jan 17, 2028 | 4.0% | A+ |
MetLife Global Funding l 1.95% Mar 20, 2028 | 4.0% | AA- |
TD Bank CB 4.516% Jan 29, 2027 | 3.9% | AAA |
CIBC Sr. Unsec. 4.9% Apr 2, 2027 | 3.5% | A |
Nestle Holdings Inc. 2.192% Jan 26, 2029 | 3.4% | AA- |
Air Canada 4.625% Aug 15, 2029 | 3.3% | BB+ |
Honda Canada Finance Inc. 4.90% Jun 4, 2029 | 3.3% | A- |
Total | 44.0% |
Geographic Breakdown
Canada | 71.8% |
USA | 19.8% |
Europe | 8.4% |
Performance
Inception Date
September 18, 2013
As of Date
November 30, 2024
Compound Returns
1 Month | 3 Months | YTD | 1 Year | 3 Year (Annualized) |
5 Year (Annualized) |
10 Year (Annualized) |
Since Inception (Annualized) |
0.9% | 2.3% | 6.8% | 8.7% | 3.5% | 3.7% | 2.9% | 2.9% |
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 10 Years
Distributions
Distributions
Distribution Frequency | Quarterly |
Most Recent Distribution per Unit | $0.0946 |
12-Month Trailing Distribution Yield | 3.1% |
Next Record Date | December 19, 2024 |
Next Distribution Date | December 20, 2024 |
Quarterly Distributions
Record Date | Distribution Date |
---|---|
March 20, 2025 | March 21, 2025 |
June 19, 2025 | June 20, 2025 |
September 18, 2025 | September 19, 2025 |
December 18, 2025 | December 19, 2025 |
Distributions ($)/Unit3 | YTD* | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
---|---|---|---|---|---|---|---|---|---|---|---|
Total Distributions | 0.2627 | 0.4056 | 0.2370 | 0.1515 | 0.2140 | 0.2307 | 0.1787 | 0.1711 | 0.2153 | 0.2100 | 0.2200 |
Interest | - | 0.4052 | 0.2364 | 0.1181 | 0.2027 | 0.2307 | 0.1787 | 0.1552 | 0.2160 | 0.1910 | 0.2206 |
Dividends | - | 0.0004 | 0.0006 | 0.0003 | 0.0001 | - | - | - | - | - | - |
Capital Gains | - | - | - | 0.0332 | 0.0112 | - | - | 0.0167 | 0.0000 | 0.0194 | - |
Withholding Tax | - | - | - | - | - | - | - | (0.0008) | (0.0007) | (0.0004) | (0.0006) |