This actively managed ETF seeks to provide: (i) stable monthly cash distributions; and (ii) a stable net asset value. The ETF actively invests in a portfolio consisting of Canadian and U.S. dollar denominated corporate preferred securities, trust preferred securities and other corporate debt, with foreign currency substantially hedged to the Canadian dollar. At least 75% of the ETF’s portfolio (at the time of investment) consists of securities that are rated investment grade. The Sub-Advisor will select a portfolio of preferred investments for the ETF, giving consideration to the opportunity for income, issuer and security diversification, credit quality, and duration/interest rate sensitivity, among other factors.
Flaherty & Crumrine Incorporated: Established in 1983, Flaherty & Crumrine Incorporated specializes in US dollar denominated preferred securities and corporate debt instruments. The firm’s proprietary database, software and models were developed specifically to analyze and manage portfolios of preferred and other subordinated securities.
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Summary of Investment Portfolio as at October 31, 2023
% of Portfolio | % of Net Asset Value | |
---|---|---|
Delphi Financial Group, 8.816% due May 15, 2037 | 4.8% | |
Metlife Inc., 10.750% due August 01, 2039 | 3.5% | |
HSBC Capital Funding LP, 10.176% | 3.3% | |
Partnerre Finance II, 7.996% due December 01, 2066 | 3.3% | |
Enterprise Products Operating LP, 5.250% due August 16, 2077 | 3.2% | |
Provident Financing TR I, 7.405% due March 15, 2038 | 3.2% | |
Liberty Mutual Insurance, 7.697% due October 15, 2097 | 3.2% | |
Energy Transfer LP, 7.600% | 2.8% | |
Lloyds Banking Group PLC, 7.500% | 2.5% | |
Royal Bank of Canada, 4.500% due November 24, 2080 | 2.5% | |
Transcanada Pipelines Limited, 5.500% due September 15, 2079 | 2.4% | |
BNP Paribas, 7.375% | 2.4% | |
Enbridge Inc., 6.000% due January 15, 2077 | 2.3% | |
Banco Santander, 7.500% | 2.2% | |
Everest Reinsurance Holdings, 8.011% due May 15, 2037 | 2.1% | |
ING Groep NV, 7.500% | 1.9% | |
Banco Santander, 4.750% | 1.9% | |
Liberty Mutual Group, 7.800% due March 15, 2037 | 1.6% | |
Credit Agricole S.A., 7.875% | 1.4% | |
Barclays PLC, 8.000% | 1.3% | |
AXIS Specialty Finance, 4.900% due January 15, 2040 | 1.3% | |
Prudential Financial Inc., 6.750% due March 01, 2053 | 1.3% | |
UBS AG, 4.875% | 1.2% | |
Lincoln National Corporation, 7.996% due May 17, 2066 | 1.0% | |
Lloyds Banking Group PLC, 8.000% | 1.0% | |
Total | 0% | 57.6% |
1)The investment portfolio may change due to ongoing portfolio transactions of the investment fund. Quarterly updates are available on the Fund's website at www.bromptongroup.com within 60 days of each quarter end.
YTD | 1-Year | 3-Year | 5-Year | Since Inception(3) | Since Inception(4) | |
---|---|---|---|---|---|---|
Brompton Flaherty & Crumrine Investment Grade Preferred ETF - CAD Hedged | (1.1%) | 1.8% | (2.0%) | 1.1% | 1.2% | n.a. |
Brompton Flaherty & Crumrine Investment Grade Preferred ETF - USD | (1.6%) | 1.1% | (2.2%) | n.a. | n.a. | 0.2% |
2022 | 2021 | 2020 | 2019 | 2018 | |
---|---|---|---|---|---|
Brompton Flaherty & Crumrine Investment Grade Preferred ETF - CAD Hedged | (13.4%) | 4.1% | 5.1% | 17.4% | (3.7%)(5) |
Brompton Flaherty & Crumrine Investment Grade Preferred ETF - USD | (13.8%) | 4.3% | 7.9% | 5.5%(6) | n.a. |
(1) The chart is hypothetical and intended for illustrative purposes only. The chart reflects a hypothetical $10,000 investment based on Net Asset Value per unit and assumes that distributions made by the Fund on its units were reinvested at Net Asset Value per unit in additional units of the Fund. The chart is derived from data supplied by Morningstar. © 2023 Morningstar. All Rights Reserved. The information contained herein: (i) is proprietary to Morningstar and/or its content providers; (ii) may not be copied or distributed; and (iii) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
(2) Returns are for the periods ended October 31, 2023. The table above shows the past performance of the Fund. Past performance does not necessarily indicate how the Fund will perform in the future. The information shown is based on Net Asset Value per unit and assumes that distributions made by the Fund on its units in the period shown were reinvested at Net Asset Value per unit in additional units of the Fund. The table above shows the ETF’s compound returns for each period indicated.
(3) Period from October 15, 2018 (commencement of operations) to October 31, 2023.
(4) Period from August 8, 2019 (commencement of operations) to October 31, 2023.
(5) Period from October 15, 2018 (Inception) to December 31, 2018.
(6) Period from August 8, 2019 (Inception) to December 31, 2019.
Returns for Brompton Flaherty & Crumrine Investment Grade Preferred ETF are unaudited.
Commissions, trailing commissions, management fees and expenses all may be associated with exchange-traded fund investments. 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 optional charges or income taxes payable by any securityholder that would have reduced returns. Exchange-traded funds are not guaranteed, their values change frequently and past performance may not be repeated.
The actual breakdown of distributions for tax purposes will be provided to unitholders annually in March. This information will also be posted on the website as soon as it is available.
This information is of a general nature only and does not constitute legal or tax advice to any particular investor. Accordingly, prospective investors are advised to consult their own tax advisors with respect to their individual circumstances.
Investors may elect to automatically reinvest their distributions in additional units of the Fund and realize the benefits of compound growth.
The following information is applicable to holders who, for the purposes of the Income Tax Act (Canada), are resident in Canada and hold trust units as capital property. If this is not the case, a tax advisor should be consulted.
Holders of trust units outside of a RRSP, DPSP, RRIF, RESP or TFSA should expect to receive a T3 slip from their investment dealer. T3 supplementary slips will indicate Investment Income in Box 26, Foreign Non-Business Income in Box 25, Capital Gains in Box 21 and Dividend Income in Box 23 and Box 49. Dividend income is subject to the standard gross up and federal dividend tax credit rules.
The return of capital component is a non-taxable amount that serves to reduce the adjusted cost base of the Fund units and is reported in Box 42.
Record Date | Payment Date | Capital Gains | Eligible Dividend | Foreign Non- Business Income | Foreign Non- Business Income Tax Paid | Other Income | Return of Capital | Total Distribution |
---|---|---|---|---|---|---|---|---|
Dec 29, 2023 | Jan 15, 2024 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.10417 |
Nov 30, 2023 | Dec 14, 2023 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.10417 |
Oct 31, 2023 | Nov 14, 2023 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.10417 |
Sep 30, 2023 | Oct 16, 2023 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.10417 |
Aug 31, 2023 | Sep 15, 2023 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.10417 |
Jul 31, 2023 | Aug 15, 2023 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.10417 |
Jun 30, 2023 | Jul 17, 2023 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.10417 |
May 31, 2023 | Jun 14, 2023 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.10417 |
Apr 28, 2023 | May 12, 2023 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.10417 |
Mar 31, 2023 | Apr 17, 2023 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.10417 |
Feb 28, 2023 | Mar 14, 2023 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.10417 |
Jan 31, 2023 | Feb 14, 2023 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.10417 |
Total | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 1.25004 |
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