Why Invest In DXP

  • An active approach to preferred shares investing that seeks to add value over its benchmark.
  • Preferred shares can offer a consistent stream of tax-efficient income and diversification benefits.
  • Access to a team of Dynamic portfolio managers with considerable experience and expertise actively investing in the preferred share market.

Portfolio Management

Marc-André Gaudreau CPA, CGA, CFA

Vice President & Senior Portfolio Manager, 1832 Asset Management L.P.

2.8 years on fund

Literature

 

Performance

Calendar Returns (%) As at 10/31/19

YTD 2019 2018
-1.0 -9.6

Compound Returns (%) As at 10/31/19

1 mo 3 mo 6 mo 1 yr 3 yrs 5 yrs 10 yrs Incep
0.8 -0.4 -2.0 -9.4 - - - 0.9
 

Asset
Allocation4

As at 10/31/19

Geographic
Allocation4

As at 10/31/19

Sector
Allocation4

As at 10/31/19
 

Top 10 Equity Holdings5 (%)

As at 10/31/19  
ISHARES S&P/TSX CANADIAN PREFFERED 4.0
BCE INC 1ST PFD SER AK 2.1
PEMBINA PIPELINE CORP 1.9
TRANSALTA CORP PFD-C 1.9
BROOKFIELD OFFICE PPTYS INC CL AAA 1.9
TC ENERGY CUMULATIVE REDEEMABLE FI 1.8
BROOKFIELD OFFICE PPTYS INC PREF S 1.7
BROOKFIELD ASSET MANAGEMENT INC. 4 1.7
BROOKFIELD RENEWABLE PARTNERS SERI 1.6
GREAT WEST LIFECO INC PFD 1ST G 5. 1.6
Total 20.2

Top 10 Issuers5 (%)

As at 10/31/19
ENBRIDGE INC 8.1
MANULIFE FINANCIAL CORP 6.8
BROOKFIELD ASSET MANAGEMENT INC 6.1
PEMBINA PIPELINE CORP 5.3
BCE INC 5.2
TC ENERGY CORP 5.1
GREAT-WEST LIFECO INC 4.3
BROOKFIELD OFFICE PROPERTIES INC 4.0
FAIRFAX FINANCIAL HOLDINGS LTD 3.7
TRANSALTA CORPORATION 3.4
Total 52.0
 

Credit Quality

As at 10/31/19
A 2.6% BB 16.4% NR 13.9%
BBB 45.6% B 3.4% Cash, Short-Term Investments & Other Net Assets 18.2%
 

Historical Distributions ($/unit)

2019
Oct		 Sep Aug Jul Jun May Apr Mar Feb Jan 2018
Dec		 Nov
0.0720 0.0720 0.0720 0.0720 0.0720 0.0720 0.0720 0.0720 0.0720 0.0720 0.0720 0.0720
 
Notes

1. Dynamic iShares® Active ETFs (the Funds, or individually, the Fund) are managed by BlackRock Asset Management Canada Limited and invest in selected mutual funds managed by 1832 Asset Management L.P. (the Dynamic Fund(s)).

2. At least once each year, the Fund will distribute all net taxable income to investors. These distributions will either be paid in cash or reinvested in the Fund, as may be determined by BlackRock Asset Management Canada Limited from time to time. These distributions will consist primarily of distributions received from the securities held within the Fund less Fund expenses, plus any realized capital gains generated from securities transactions within the Fund. The amounts of past distributions are shown above. The characterization of distributions for tax purposes (such as dividends, other income, capital gains etc.) for each period will be reported only after the Fund's tax year end. For tax purposes, these amounts will be reported by brokers on official tax statements.

3. All investments involve risk. The value of the Fund can go down as well as up and you could lose money. BlackRock Canada has rated the risk of this Fund based on industry standard risk rating guidelines. For more information about the specific risks of this Fund and its risk rating, see the fund’s prospectus, including the disclosure under the headings "Risk Factors" and "Risk Ratings of the iShares Funds".

4. This information relates to the underlying Dynamic Fund in which the Dynamic iShares Active ETF invests. This information is based on the fair value of the position, expressed as a percentage of the net asset value of the underlying Dynamic Fund.

5. This information relates to the underlying Dynamic Fund in which the Dynamic iShares Active ETF invests. This information is based on the fair value of the position, expressed as a percentage of the net asset value of the underlying Dynamic Fund.

6. The annual yield an investor would receive if the most recent fund distribution stayed the same going forward. The yield represents a single distribution from the fund and does not represent the total return of the fund. The yield is calculated by annualizing the most recent distribution and dividing by the fund NAV from the as-of-date. This figure is net of management fees and other fund expenses.

Disclaimer

Commissions, management fees and expenses all may be associated with investments in Dynamic iShares® Active ETFs. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or operational charges or income taxes payable by any securityholder that would have reduced returns. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

The information herein does not constitute specific advice regarding your personal investment situation or provide specific individual advice about investment, financial, legal, accounting, tax or similar matters. Please contact your financial advisor on your particular circumstances.

Dynamic Funds® is a registered trademark of its owner, used under license and a division of 1832 Asset Management L.P. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc., or its subsidiaries in the United States and elsewhere. Used with permission.

The Growth of $10,000 chart reflects a hypothetical $10,000 investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses, were deducted. As a result of the risks and limitations inherent in hypothetical performance data, hypothetical results may differ from actual performance.

Dynamic Fund Profile rendered at 2019-11-12 02:12:23 PM

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