NBI SmartBeta Low Volatility Global Equity Fund

Investment Objective

To provide long-term capital growth. The fund invests directly, or through investments in securities of other mutual funds, in a portfolio composed mainly of equity securities of companies located around the world that are selected using quantitative analysis of risk factors.

Fund Details

Investment horizon

At least 5 year

Fund volatility

Low to Medium

Style: Value, Sector Deviation: Wide, Market cap: Large

Style	Sector Deviation	Market Capitalization
Value	Minimal	Small
Blend	Moderate	Mid
Growth	Wide	Large

Minimum Initial Investment:

$500

Subsequent Investment:

$50

Systematic Investment:

$25

Distribution Frequency:

Annually

Assets Under Management ($M):

$126.6

Price per Unit:

$12.56

Inception Date:

October 30, 2015

Value of $10,000 over 10 years:

$17,959

Benchmark Index:

MSCI World

Management Fee:

1.75%

MER:

2.07%

Portfolio Manager:

National Bank Investments Inc.

Available Fund Code:

Investor Series

NBC898

Portfolio Asset Mix (% of Net Assets)

	United States	66.03%
	European Union	14.81%
	Japan	6.27%
	Canada	3.54%
	Other	3.29%
	Multi-National	2.97%
	Asia/Pacific Rim	2.74%
	Latin America	0.35%

Sector Allocation	%
Consumer Goods & Services	24.61
Utilities	17.59
Healthcare	13.53
Industrial Goods & Services	12.26
Financial Services	10.64
Telecommunications	6.16
Energy	4.40
Basic Materials	3.12
Exchange Traded Fund	2.98
Technology	2.46
Real Estate	2.25

Dividend Yield (Trailing Yield)

2.53

Top Holdings	%
Consolidated Edison Inc	3.25
iShares MSCI Global Min Vol Factor ETF (ACWV)	2.97
Kroger Co	2.65
Duke Energy Corp	1.64
CME Group Inc Cl	1.61
Johnson & Johnson	1.51
Northrop Grumman Corp	1.47
Colgate-Palmolive Co	1.37
Cencora Inc	1.28
Southern Co	1.16
Total of Top Holdings of the Fund (% of Net Assets):	18.91
Total Number of Securities Held:	499

Calendar Returns (%)

YTD	2025	2024	2023	2022	2021	2020
2.93	4.81	16.01	6.06	-5.19	8.58	5.83

Annualized Returns (%)

1 M	3 M	6 M	1 Y	3 Y	5 Y	10 Y	Incp.
2.93	2.81	4.54	4.30	9.25	6.52	6.03	5.89

Disclosure

NBI Mutual Funds (the “Funds”) are offered by National Bank Investments Inc. an indirect wholly owned subsidiary of National Bank of Canada and sold by authorized dealers. Commissions, trailing commissions, management fees and expenses all may be associated with investments in the Funds. Please read the prospectus of the Funds before investing. The indicated rates of return are the historical annual compounded total returns which include changes in the value of securities and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. The Funds’ securities are not insured by the Canada Deposit Insurance Corporation or by any other government deposit insurer. For money market funds, there can be no assurances that a fund will be able to maintain its net asset value per security at a constant amount or that the full amount of the investment in a fund will be returned. The Funds are not guaranteed, their values change frequently and past performance may not be repeated.