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NBI Unconstrained Fixed Income Fund Investor Series

Multi-Sector Fixed Income

FundGrade D Click for more information on Fundata’s FundGrade

FundGrade D

Click for more information on Fundata’s FundGrade.

NAVPS
(07-22-2025)
$8.07
Change
$0.01 (0.12%)

As at June 30, 2025

As at June 30, 2025

Period
Created with Highcharts 10.3.3Jan 2024Jul 2022Oct 2022Jan 2023Apr 2023Jul 2023Oct 2023Apr 2024Jul 2024Oct 2024Jan 2025Apr 2025Mar 2017May 2018Jul 2019Sep 2020Nov 2021Jan 2023Mar 2024May 2025M…$10,000$11,000$9,500$10,500$11,500Period

Legend

NBI Unconstrained Fixed Income Fund Investor Series

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Fund Returns

Inception Return (November 28, 2016): 1.02%

Fund Returns
Row Heading Return Annualized Return
1 Mth 3 Mth 6 Mth YTD 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr
Fund 1.30% 2.37% 3.13% 3.13% 5.33% 4.13% 3.57% 0.01% 1.37% 1.33% 1.81% 1.13% - -
Benchmark 1.36% -0.99% 1.81% 1.81% 9.27% 8.23% 6.85% 1.47% 0.26% 1.58% 2.25% 2.26% 2.20% 3.08%
Category Average 1.33% 1.67% 2.91% 2.91% 6.01% 5.51% - - - - - - - -
Category Rank 161 / 318 21 / 318 93 / 313 93 / 313 238 / 299 264 / 289 253 / 288 225 / 270 180 / 251 184 / 236 163 / 219 163 / 194 - -
Quartile Ranking 3 1 2 2 4 4 4 4 3 4 3 4 - -

Monthly Return

Created with Highcharts 10.3.3-4%-2%0%2%4%
Monthly Return
Return % Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
Fund 1.70% 0.82% 1.19% -1.77% 1.20% -0.97% 0.63% 0.91% -0.79% 0.78% 0.27% 1.30%
Benchmark 3.56% -0.33% 1.97% 0.33% 0.96% 0.67% 1.41% 1.02% 0.37% -1.88% -0.45% 1.36%

Best Monthly Return Since Inception

3.85% (November 2023)

Worst Monthly Return Since Inception

-8.57% (March 2020)

Calendar Return (%)

Created with Highcharts 10.3.3-15%-10%-5%0%5%10%15%20%
Calendar Return
Return % 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Fund - - -0.09% -5.18% 8.88% 4.81% -0.64% -6.93% 4.43% 1.35%
Benchmark 16.14% 1.29% 1.23% 6.50% 4.01% 7.35% -4.31% -10.27% 5.25% 9.76%
Category Average - - - - - - - - - 3.89%
Quartile Ranking - - 4 4 2 3 3 2 4 4
Category Rank - - 160/ 181 196/ 207 87/ 228 131/ 250 197/ 263 72/ 271 257/ 289 273/ 298

Best Calendar Return (Last 10 years)

8.88% (2019)

Worst Calendar Return (Last 10 years)

-6.93% (2022)

Asset Allocation

Asset Allocation
Name Percent
Foreign Corporate Bonds 55.44
Cash and Equivalents 17.70
Foreign Government Bonds 16.96
Mortgages 8.95
US Equity 0.59
Other 0.36

Sector Allocation

Sector Allocation
Name Percent
Fixed Income 82.11
Cash and Cash Equivalent 17.70
Financial Services 0.57
Energy 0.03
Healthcare 0.02

Geographic Allocation

Geographic Allocation
Name Percent
North America 72.98
Europe 15.42
Latin America 6.45
Africa and Middle East 2.85
Asia 1.31
Other 0.99

Top Holdings

Top Holdings
Name Percent
NBI Unconstrained Fixed Income ETF (NUBF) 93.84
Cash and Cash Equivalents 6.15
Noble Corp (Cayman Island) 0.01
WTS-NOBLE CORP 2 0.00

Equity Style

Equity style data not available

Fixed Income Style

Average Duration: S. Average Credit Quality: M.
Period: 

Risk vs Return (3 Yr)

Created with Highcharts 10.3.3Risk (Annualized Standard Deviation)ReturnMedian DeviationMedian Return3456789101112-2%0%2%4%6%8%10%12%

NBI Unconstrained Fixed Income Fund Investor Series

Median

Other - Multi-Sector Fixed Income

3 Yr Annualized

Standard Deviation 5.05% 4.78% -
Beta 0.58% 0.39% -
Alpha 0.00% 0.01% -
Rsquared 0.38% 0.25% -
Sharpe -0.07% -0.21% -
Sortino 0.19% -0.43% -
Treynor -0.01% -0.03% -
Tax Efficiency 35.28% - -
Volatility Volatility rating is 2 on a scale of 1 to 10 Volatility rating is 1 on a scale of 1 to 10 -

Risk Rating

Rating 2 out of ten

Annualized Key Ratio Period Comparison

Key Ratio
Key Ratio 1 Yr 3 Yr 5 Yr 10 Yr
Standard Deviation 3.68% 5.05% 4.78% -
Beta 0.29% 0.58% 0.39% -
Alpha 0.03% 0.00% 0.01% -
Rsquared 0.13% 0.38% 0.25% -
Sharpe 0.52% -0.07% -0.21% -
Sortino 0.88% 0.19% -0.43% -
Treynor 0.07% -0.01% -0.03% -
Tax Efficiency 72.93% 35.28% - -

Fund Details

Start Date November 28, 2016
Instrument Type Mutual Fund
Share Class Commission Based Advice
Legal Status Trust
Sales Status Open
Currency CAD
Distribution Frequency Monthly
Assets ($mil) $2,640

Fund Codes

FundServ Code Load Code Sales Status
NBC305

Investment Objectives

The NBI Unconstrained Fixed Income Fund’s investment objective is to maximize total return, consistent with preservation of capital. The fund invests, directly or indirectly through investments in securities of 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.

Investment Strategy

The fund seeks to achieve its objective by managing portfolio duration, credit risk, and volatility. The fund has significant latitude to pursue opportunities across the fixed-income spectrum, and is not managed or compared to any specific index. The fund has the flexibility to invest across different sectors, credit ratings, maturities and geographic regions, including moving between sectors or across credit risk, and may have long, short or negative duration.

Portfolio Management

Portfolio Manager

National Bank Trust Inc.

Sub-Advisor

J.P. Morgan Investment Management Inc.

  • Bob Michele
  • Iain Stealey

Management and Organization

Fund Manager

National Bank Investments Inc.

Custodian

Natcan Trust Company

Registrar

Natcan Trust Company

Distributor

National Bank Investments Inc.

Investment Minimums

RSP Eligible Yes
PAC Allowed Yes
PAC Initial Investment 25
PAC Subsequent 25
SWP Allowed Yes
SWP Min Balance 10,000
SWP Min Withdrawal 50

Fees

MER 1.53%
Management Fee 1.25%
Load No Load
FE Max -
DSC Max -
Trailer Fee Max (FE) -
Trailer Fee Max (DSC) -
Trailer Fee Max (NL) 0.50%
Trailer Fee Max (LL) -

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