PORTFOLIO MANAGEMENT
CREDIT QUALITY
As at 06/30/2025
| col1 | col12 | col3 |
|---|---|---|
| P1H 5.3% | P2L 28.0% | P4M 0.0% |
| P1M 0.0% | P3H 18.2% | P4L 0.0% |
| P1L 8.9% | P3M 3.4% | NR 0.4% |
| P2H 6.9% | P3L 0.0% | |
| P2M 26.4% | P4H 2.4% |
PERFORMANCE
CALENDAR RETURNS (%) As at 07/31/2025
| YTD | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|
| 11.3 | 26.8 | 7.3 | -15.5 | 27.9 | 5.6 | 3.8 | -9.6 | — | — |
COMPOUND RETURNS (%) As at 07/31/2025
| 1 month | 3 months | 6 months | 1 year | 3 years | 5 years | 10 years | Inception |
|---|---|---|---|---|---|---|---|
| 3.5 | 12.2 | 8.8 | 19.4 | 12.5 | 13.5 | — | 7.5 |
TOP EQUITY HOLDINGS (%)
As at 06/30/2025
| TC Energy Corporation, 3.903%, First Preferred, Series 7 | 2.0 |
| Enbridge Inc., 3.737%, Series 3 | 1.9 |
| TC Energy Corporation, 3.479%, First Preferred, Series 1 | 1.9 |
| Fortis Inc., 3.913%, Redeemable, Series "M" | 1.8 |
| TransAlta Corporation, 4.027%, First Preferred, Series "C" | 1.6 |
| BCE Inc., 2.954%, First Preferred, Series "AK" | 1.5 |
| Great-West Lifeco Inc., 5.20%, Non-Cumulative, Series "G" | 1.5 |
| Manulife Financial Corporation, 3.80%, Non-Cumulative, Class 1, Series 17 | 1.5 |
| Brookfield Renewable Partners L.P., 4.351, Class "A", Series 3 | 1.5 |
| Pembina Pipeline Corporation, 4.38%, Redeemable, Class "A", Series 7 | 1.4 |
| Total allocation in top holdings | 16.6 |
TOP 10 ISSUERS (%)
As at 06/30/2025
| col1 | col2 |
|---|---|
| Brookfield Asset Man Inc. | 9.7 |
| Enbridge | 9.1 |
| Pembina Pipeline | 6.7 |
| Great-West Life | 5.6 |
| TransCanada PipeLines | 5.6 |
| Manulife Financial | 5.5 |
| Power Financial Corp | 5.2 |
| Bell Canada | 4.3 |
| Intact Financial | 4.1 |
| Canadian Utilities Corporation | 3.6 |
| Total allocation in top holdings | 59.2 |
HISTORICAL DISTRIBUTIONS ($/unit)
| 2025 Jul | Jun | May | Apr | Mar | Feb | Jan | 2024 Dec | Nov | Oct | Sep | Aug |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 0.0970 | 0.0970 | 0.0970 | 0.0970 | 0.0970 | 0.0970 | 0.0970 | 0.0970 | 0.0970 | 0.0970 | 0.0970 | 0.0970 |
PREFERRED SHARE TYPE (%)
| Reset | 68.3 |
| Perpetual | 23.4 |
| Float | 1.3 |
| ETF | 1.2 |
- 1. for the period ended December 31, 2024.
- 2. 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.
- 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 ETF’s 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 fund’s prospectus, including the disclosure under the headings "Risk Factors" and "Risk Ratings of the Funds".
- 6. FundGrade A+® is used with permission from Fundata Canada Inc., all rights reserved.
- . 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.