As at October 31, 2025

NTGF

NBI Target 2031 Investment Grade Bond Fund - ETF Series

Investment Objective

To provide current income and preserve capital over a predetermined time period. The fund invests, directly or indirectly through investments in securities of other mutual funds, in a portfolio comprised primarily of investment-grade bonds of North American companies with an effective maturity in 2031. It is anticipated that the fund will terminate on or about November 31, 2031 or such earlier date upon not less than 60 days' notice to unitholders.

ETF Details

Ticker:

NTGF

Stock Exchange:

TSX

Currency:

CAD

CUSIP:

62880J103

Inception Date:

September 16, 2025

Management Fee:

0.15%

Portfolio Manager:

National Bank Investments Inc.

Sub-Advisor:

AlphaFixe Capital Inc.

ETF Characteristics

Net Assets (M):

$38.6

Units Outstanding:

3.84

Market Price/Unit:

$10.06

Income Distributions

Distribution Frequency:

Monthly

Distribution Yield (%):

1.79%

Trailing Distribution Yield:

0.17%

Who is this ETF for?

Investors who:

  • want to receive interest income regularly;
  • are seeking to invest for a period of time consistent with the fund's target maturity date in 2031;
  • want exposure to investment-grade corporate bonds.

Asset Mix (% of Net Assets)

Canadian Corporate Bonds 48.39%
Canadian Government Bonds 47.20%
Cash and Equivalents 4.41%
Average Duration (Years) -
Average Maturity (Years) -
Gross Yield to Maturity (%)1 -
Gross Current Yield (%)2 2.35
Last Distribution Per Share 0.02
Top Holdings %
Canada Housing Trust No 1 1.10% 15-Mar-2031 9.86
Enbridge Gas Inc 2.35% 15-Sep-2031 7.57
Quebec Province 1.50% 01-Sep-2031 6.54
Alberta Province 1.65% 01-Jun-2031 6.52
British Columbia Province 1.55% 18-Jun-2031 6.10
Epcor Utilities Inc 2.41% 30-Mar-2031 5.55
Lower Mattagami Energy LP 2.43% 14-Feb-2031 4.68
North West Redwater Partnershp 2.80% 01-Mar-2031 4.57
Bell Canada 3.00% 17-Dec-2030 4.53
Telus Corp 2.85% 13-Aug-2031 4.16
Total of Top Holdings of the Fund
(% of Net Assets):		 60.08
Total Number of Securities Held: 25

Calendar Returns (%)

YTD 2024 2023 2022 2021 2020 2019
- - - - - - -

Annual Compound Returns (%)

Regulations restrict the presentation of performance figures until a fund reaches its one-year anniversary.

1 M 3 M 6 M 1 Y 3 Y 5 Y 10 Y Incp.
- - - - - - - -

¹The rate of return anticipated on a bond if it is held until the maturity date expressed as an annual rate. It is assumed that all coupons are reinvested at the same rate.

²Annual income paid by a bond or a stock, expressed as a percentage of its current market price. It does not include any capital gains or losses that may be realized upon maturity.

As at October 31, 2025

NTGF

NBI Target 2031 Investment Grade Bond Fund - ETF Series

Disclosure

NBI ETFs are offered by National Bank Investments Inc., a wholly owned subsidiary of National Bank of Canada. Commissions, management fees and expenses all may be associated with investments in exchange-traded funds (ETFs). Please read the prospectus or ETF Facts document(s) before investing. ETFs are not guaranteed, their values change frequently and past performance may not be repeated. ETF units are bought and sold at market price on a stock exchange and brokerage commissions will reduce returns. NBI ETFs do not seek to return any predetermined amount at maturity. Index returns do not represent NBI ETF returns. The indicated rates of return are the historical total returns for the periods including changes in unit value and reinvestment of all distributions and do not take into account redemption, commission charges or income taxes payable by any unitholder that would have reduced returns. Past performance may not be repeated.