Investment Objective
The NBI Unconstrained Fixed Income ETF’s investment objective is to maximize total return, consistent with preservation of capital. The NBI ETF invests, directly or indirectly through investments in securities of one or many other mutual funds or through the use of derivatives, in a diversified portfolio composed mainly of fixed-income securities of issuers located throughout the world with various maturities and credit ratings.
ETF Details
Ticker:
NUBF
Stock Exchange:
TSX
Currency:
CAD
CUSIP:
62877X107
Inception Date:
September 12, 2019
Management Fee:
0.75%
MER:
0.78%
Portfolio Manager:
National Bank Investments Inc.
Sub-Advisor:
J.P. Morgan Investment Management Inc.
ETF Characteristics
Net Assets (M):
$2,937.4
Units Outstanding:
136.80
Market Price/Unit:
$21.47
Income Distributions
Distribution Frequency:
Monthly
Distribution Yield (%):
4.75%
Trailing Distribution Yield:
4.45%
Who is this ETF for?
Investors who:
- are looking to invest their money for the medium term (at least three years);
- are looking to diversify their fixed income investments outside of Canada;
- are looking for an investment that provides both income and growth.
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nbinvestments.ca/etfAsset Mix (% of Net Assets)
| Foreign Corporate Bonds | 58.42% |
| Foreign Government Bonds | 16.09% |
| Cash and Equivalents | 13.01% |
| Mortgages | 9.29% |
| Canadian Government Bonds | 1.92% |
| Other | 1.27% |
| Average Duration (Years) | 4.90 |
| Average Maturity (Years) | 16.30 |
| Gross Yield to Maturity (%)1 | 4.50 |
| Gross Current Yield (%)2 | 5.74 |
| Last Distribution Per Share | 0.09 |
| Credit Rating | % |
|---|---|
| AAA | 20.92 |
| AA | 5.82 |
| A | 12.54 |
| BBB | 26.70 |
| BB | 22.48 |
| <= B | 11.53 |
| Top Holdings | % |
|---|---|
| Interest Rate Swap , due December 16, 2027 | 14.62 |
| Credit default swap 4.95% 20-Dec-2030 | 3.97 |
| Interest Rate Swap 2.32% 11-Aug-2030 | 3.35 |
| Federal National Mrtgage Assoc 4.50% 01-Aug-2052 | 1.93 |
| Canada Government 3.25% 01-Jun-2035 | 1.86 |
| Government Nationl Mrtg Assc 2 4.50% 20-Jun-2053 | 1.84 |
| Federal National Mrtgage Assoc 5.50% 01-Jul-2053 | 1.71 |
| Interest Rate Swap 2.09% 11-Aug-2035 | 1.71 |
| Mexico Government 8.50% 28-Feb-2030 | 1.66 |
| South Africa Government 9.00% 31-Jan-2040 | 1.47 |
| Total of Top Holdings of the Fund (% of Net Assets): |
34.12 |
| Total Number of Securities Held: | 1315 |
| Geographic Allocation | % |
|---|---|
| United States | 53.70 |
| Europe | 14.46 |
| Canada | 11.94 |
| Other | 7.66 |
| Mexico | 4.63 |
| South Africa | 1.94 |
| Brazil | 1.86 |
| Turkey | 1.38 |
| Czech Republic | 1.05 |
| United Kingdom | 0.70 |
| Poland | 0.68 |
Calendar Returns (%)
| YTD | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| 0.75 | 6.38 | 2.13 | 5.74 | -6.96 | 0.53 | 6.50 |
Annual Compound Returns (%)
| 1 M | 3 M | 6 M | 1 Y | 3 Y | 5 Y | 10 Y | Incp. |
|---|---|---|---|---|---|---|---|
| 0.75 | 0.98 | 3.54 | 6.35 | 4.13 | 1.62 | - | 2.38 |
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.