Lipper Canada 2023 6

WHY INVEST IN DYNAMIC ACTIVE PREFERRED SHARES ETF

  • 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

LITERATURE

PERFORMANCE

CALENDAR RETURNS (%) As at 01/31/2024

YTD20232022202120202019201820172016
6.57.3-15.527.95.63.8-9.6

COMPOUND RETURNS (%) As at 01/31/2024

1 month3 months6 months1 year3 years5 years10 yearsInception
6.517.111.77.16.06.34.9

ASSET
ALLOCATION

As at 01/31/2024

valueholding
88.6%Preferred Stocks-CDN
5.6%Cash, Short-Term Investments & Other Net Assets
5.3%Hybrids/LRCN - CDN
0.5%Preferred Stocks-US
0.0%Hybrids/LRCN - US

GEOGRAPHIC
ALLOCATION

As at 01/31/2024

valueholding
99.5%Canada
0.5%United States

SECTOR
ALLOCATION

As at 01/31/2024

valueholding
25.1%Insurance
20.7%Pipelines
17.1%Electric
15.3%Banks
7.4%Real Estate
4.2%Telecommunications
2.9%Oil&Gas
0.8%Food
0.6%Gas
0.5%Debt Fund
0.1%Diversified Finan Serv

TOP EQUITY HOLDINGS (%)

As at 01/31/2024

Toronto-Dominion Bank (The), 5.75% Perpetual2.1
Fortis Inc., 3.913%, Redeemable, Series "M"1.7
Manulife Financial Corporation, 3.80%, Non-Cumulative, Class 1, Series 171.7
Toronto-Dominion Bank (The), 3.876%, Non-Cumulative, Series 51.7
Enbridge Inc., 3.737%, Series 31.7
TC Energy Corporation, 3.903%, First Preferred, Series 71.7
Fairfax Financial Holdings Limited, 3.708%, Series "I"1.6
Great-West Lifeco Inc., 5.20%, Non-Cumulative, Series "G"1.5
Cenovus Energy Inc., 6.05%, First Preferred, Series "5"1.4
Toronto-Dominion Bank (The), 3.681%, Non-Cumulative, Series 31.4
Total allocation in top holdings16.5

TOP 10 ISSUERS (%)

As at 01/31/2024

col1col2
Enbridge9.2
Toronto Dominion Bank7.7
Brookfield Asset Management6.9
Pembina Pipeline6.0
Manulife Financial5.8
Great-West Life5.3
Power Financial Corp4.6
Bell Canada4.2
TransCanada PipeLines3.7
Fairfax Financial3.7
Total allocation in top holdings57.0

FIXED INCOME CHARACTERISTICS

Yield to Maturity (%)n/a
Current yield (%)5.54
Duration (years)n/a
Credit Duration (years)n/a
Average credit ratingP2M
Weighted Average Price ($)n/a
Average Coupon (%)n/a

CREDIT QUALITY

As at 01/31/2024

col1col12col3
P1H 5.4%P2M 23.0%P3L 0.0%
P1M 0.0%P2L 36.1%P4H 1.4%
P1L 7.2%P3H 17.3%P4L 0.2%
P2H 5.6%P3M 3.8%

HISTORICAL DISTRIBUTIONS ($/unit)

2024
Feb
2024
Jan
DecNovOctSepAugJulJunMayAprMar
0.09700.09700.23550.07200.07200.07200.07200.07200.07200.07200.07200.0720

PREFERRED SHARE TYPE (%)

Reset70.6
Perpetual21.2
Float2.6
ETFs0.5
Notes
  • 1. for the period ended December 31, 2022.
  • 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. 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).
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 2024-03-01 14:56:26 PM
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