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 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.

6.6 years on fund
Roger Rouleau B.Comm., CFA

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

3.3 years on fund
Jeremy Lucas MBA, CPA, CA

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

3.3 years on fund

Literature

 

Performance

Calendar Returns (%) As at 08/31/23

YTD 2023 2022 2021 2020 2019 2018
-1.4 -15.5 27.9 5.6 3.8 -9.6

Compound Returns (%) As at 08/31/23

1 mo 3 mo 6 mo 1 yr 3 yrs 5 yrs 10 yrs Incep
-3.6 -0.5 -6.9 -8.2 5.1 0.5 - 2.9
 

Asset
Allocation

As at 08/31/23

Geographic
Allocation

As at 08/31/23

Sector
Allocation

As at 08/31/23
 

Top 10 Holdings (%)

As at 08/31/23  
Toronto-Dominion Bank (The), 5.75% Perpetual 3.0
Enbridge Inc., 3.737%, Series 3 1.9
Fortis Inc., 3.913%, Redeemable, Series "M" 1.7
TC Energy Corporation, 3.903%, First Preferred, Series 7 1.6
Manulife Financial Corporation, 3.80%, Non-Cumulative, Class 1, Series 17 1.6
Great-West Lifeco Inc., 5.20%, Non-Cumulative, Series "G" 1.6
Fairfax Financial Holdings Limited, 3.708%, Series "I" 1.5
Toronto-Dominion Bank (The), 3.876%, Non-Cumulative, Series 5 1.5
Emera Incorporated, 4.60%, First Preferred, Series "L" 1.3
Toronto-Dominion Bank (The), 3.681%, Non-Cumulative, Series 3 1.3
Total 17.0

Top 10 Issuers (%)

As at 08/31/23
Enbridge 10.0
TD 8.3
Brookfield Asset Man Inc. 6.8
Manulife Financial 5.9
Manulife Financial 5.6
Great-West Life 5.6
Bell Canada 4.8
Power Financial Corp 4.6
Fairfax Financial 4.0
TransCanada PipeLines 3.9
Total 59.5
 

Credit Quality

As at 08/31/23
P1H 2.7% P2M 23.7% P3L 0.0%
P1M 0.0% P2L 36.9% P4H 1.1%
P1L 6.8% P3H 15.9%
P2H 6.0% P3M 6.9%

Preferred Share Type (%)

Reset 71.1
Perpetual 22.4
Float 3.7
ETF 0.6
 

Historical Distributions ($/unit)

2023
Aug		 Jul Jun May Apr Mar Feb Jan 2022
Dec		 Nov Oct Sep
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. Distribution Reinvestment Plan (“DRIP”) is available, allowing investors to reinvest cash distributions, provided that the Advisor’s brokerage firm supports participation in the DRIP. Cash distributions are declared at the sole discretion of the manager and are not guaranteed.

1. 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 the Manager 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.

2. All investments involve risk. The value of the Fund can go down as well as up and you could lose money. The Manager 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 Funds".

2. All investments involve risk. The value of the Fund can go down as well as up and you could lose money. The Manager 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 Funds".

3. The yield is determined by annualizing the fixed distribution rate and does not include any distributions in excess of the fixed distribution rate that may be paid at the ETF’s year end.

4 MER for the period ended December 31, 2022.

Disclaimer

Commissions, management fees and expenses all may be associated with mutual fund investments, including 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. Mutual Funds funds and ETFs 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.

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 2023-09-26 06:19:27 AM

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