PORTFOLIO MANAGEMENT
PERFORMANCE
CALENDAR RETURNS (%) As at 03/31/2024
| YTD | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|
| 10.6 | 7.3 | -15.5 | 27.9 | 5.6 | 3.8 | -9.6 | — | — |
COMPOUND RETURNS (%) As at 03/31/2024
| 1 month | 3 months | 6 months | 1 year | 3 years | 5 years | 10 years | Inception |
|---|---|---|---|---|---|---|---|
| 3.5 | 10.6 | 18.6 | 15.6 | 4.2 | 6.8 | — | 5.3 |
ASSET
ALLOCATION
As at 03/31/2024
| value | holding |
|---|---|
| Preferred Stocks-CDN | |
| Hybrids/LRCN - CDN | |
| Cash, Short-Term Investments & Other Net Assets | |
| Preferred Stocks-US | |
| Hybrids/LRCN - US |
GEOGRAPHIC
ALLOCATION
As at 03/31/2024
| value | holding |
|---|---|
| Canada | |
| United States |
SECTOR
ALLOCATION
As at 03/31/2024
| value | holding |
|---|---|
| Insurance | |
| Pipelines | |
| Banks | |
| Electric | |
| Telecommunications | |
| Oil&Gas | |
| Food | |
| Gas | |
| Debt Fund | |
| Diversified Finan Serv | |
| Real Estate |
TOP EQUITY HOLDINGS (%)
As at 03/31/2024
| Toronto-Dominion Bank (The), 5.75% Perpetual | 2.4 |
| Toronto-Dominion Bank (The), 3.876%, Non-Cumulative, Series 5 | 2.0 |
| Manulife Financial Corporation, 3.80%, Non-Cumulative, Class 1, Series 17 | 1.7 |
| TC Energy Corporation, 3.903%, First Preferred, Series 7 | 1.7 |
| Fortis Inc., 3.913%, Redeemable, Series "M" | 1.7 |
| Enbridge Inc., 3.737%, Series 3 | 1.6 |
| Fairfax Financial Holdings Limited, 3.708%, Series "I" | 1.6 |
| Great-West Lifeco Inc., 5.20%, Non-Cumulative, Series "G" | 1.4 |
| Cenovus Energy Inc., 6.05%, First Preferred, Series "5" | 1.3 |
| Toronto-Dominion Bank (The), 3.681%, Non-Cumulative, Series 3 | 1.3 |
| Total allocation in top holdings | 16.7 |
TOP 10 ISSUERS (%)
As at 03/31/2024
| col1 | col2 |
|---|---|
| Enbridge | 9.1 |
| TD | 8.3 |
| BCNC | 7.0 |
| Pembina Pipeline | 6.6 |
| Manulife Financial | 5.8 |
| Great-West Life | 5.1 |
| Power Financial Corp | 4.8 |
| Bell Canada | 4.1 |
| Fairfax Financial | 3.8 |
| TransCanada PipeLines | 3.8 |
| Total allocation in top holdings | 58.5 |
FIXED INCOME CHARACTERISTICS
| Yield to Maturity (%) | n/a |
| Current yield (%) | 5.40 |
| Duration (years) | n/a |
| Credit Duration (years) | n/a |
| Average credit rating | P2L |
| Weighted Average Price ($) | n/a |
| Average Coupon (%) | n/a |
CREDIT QUALITY
As at 03/31/2024
| col1 | col12 | col3 |
|---|---|---|
| P1H 1.9% | P2M 26.6% | P3L 0.0% |
| P1M 0.0% | P2L 34.5% | P4H 1.4% |
| P1L 7.5% | P3H 18.7% | P4M 0.2% |
| P2H 5.4% | P3M 3.8% | P4L 0.0% |
HISTORICAL DISTRIBUTIONS ($/unit)
| 2024 Mar | Feb | 2024 Jan | Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 0.0970 | 0.0970 | 0.0970 | 0.2355 | 0.0720 | 0.0720 | 0.0720 | 0.0720 | 0.0720 | 0.0720 | 0.0720 | 0.0720 |
PREFERRED SHARE TYPE (%)
| Reset | 74.2 |
| Perpetual | 20.7 |
| Float | 2.6 |
| ETF | 0.5 |
- 1. for the period ended December 31, 2023.
- 2. Distribution Reinvestment Plan (āDRIPā) is available, allowing investors to reinvest cash distributions, provided that the Advisorās brokerage firm supports participation in the DRIP. Cash distributions are declared at the sole discretion of the manager and are not guaranteed.
- 3. 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.
- 4. 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 ETFās year end.
- 5. 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 fundās prospectus, including the disclosure under the headings "Risk Factors" and "Risk Ratings of the Funds".
- 6. Performance for Dynamic Active Preferred Shares ETF, Series F, for the period ended October 31st, 2023 is as follows: -3.10% (1 year), 5.40% (3 year), 1.10% (5 year) and 2.20% since inception (January 2017) The corresponding Lipper Leader ratings of the fund for the period ending July 31, 2023 are as follows: 5 (3 years), 5 (5 years), 5 (10 years).
- . 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 FundsĀ® 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.