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Purpose US Preferred Share Fund - Series A

Preferred Sh Fixed Income

FundGrade E Click for more information on Fundata’s FundGrade

FundGrade E

Click for more information on Fundata’s FundGrade.

NAVPS
(05-17-2024)
$17.89
Change
$0.02 (0.11%)

As at April 30, 2024

As at April 30, 2024

Period
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Legend

Purpose US Preferred Share Fund - Series A

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Fund Returns

Inception Return (March 08, 2017): 0.23%

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 -0.65% 1.20% 13.05% 3.98% 11.53% -0.23% -3.46% 0.48% -0.01% 0.41% 0.13% - - -
Benchmark 1.22% 4.86% 22.46% 10.96% 14.60% 3.07% 1.13% 8.83% 4.49% 2.63% 2.98% 4.79% 2.67% 2.07%
Category Average 0.94% 19.97% 19.97% 9.38% 14.52% 3.26% 1.26% 8.98% 4.53% 2.73% 2.85% 4.76% 2.98% 2.63%
Category Rank 67 / 71 69 / 71 67 / 71 69 / 71 65 / 70 68 / 69 68 / 69 63 / 64 63 / 63 52 / 55 52 / 52 - - -
Quartile Ranking 4 4 4 4 4 4 4 4 4 4 4 - - -

Monthly Return

Monthly Return
Return % May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr
Fund -0.81% 0.64% 3.05% -1.18% -1.01% -1.97% 4.84% 3.70% 2.75% 0.24% 1.61% -0.65%
Benchmark -3.57% 1.28% 1.45% -4.21% 1.44% -2.80% 9.47% 0.82% 5.81% 0.13% 3.47% 1.22%

Best Monthly Return Since Inception

7.17% (April 2020)

Worst Monthly Return Since Inception

-13.24% (March 2020)

Calendar Return (%)

Calendar Return
Return % 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Fund - - - - -7.05% 14.65% 3.06% 1.74% -16.35% 2.96%
Benchmark 6.82% -14.95% 6.98% 13.62% -7.93% 3.48% 6.16% 19.35% -18.08% 5.90%
Category Average 7.19% -11.52% 8.78% 12.66% -8.25% 4.17% 5.25% 19.63% -16.73% 6.27%
Quartile Ranking - - - - 2 1 4 4 2 4
Category Rank - - - - 20/ 55 5/ 59 55/ 64 68/ 69 31/ 69 65/ 70

Best Calendar Return (Last 10 years)

14.65% (2019)

Worst Calendar Return (Last 10 years)

-16.35% (2022)

Asset Allocation

Asset Allocation
Name Percent
Foreign Corporate Bonds 82.60
Foreign Government Bonds 6.66
US Equity 5.84
Cash and Equivalents 4.90

Sector Allocation

Sector Allocation
Name Percent
Fixed Income 89.25
Financial Services 5.84
Cash and Cash Equivalent 4.90
Other 0.01

Geographic Allocation

Geographic Allocation
Name Percent
North America 71.94
Europe 27.51
Multi-National 0.54
Other 0.01

Top Holdings

Top Holdings
Name Percent
United States Dollar 5.36
Bank of New York Mellon Corporation (USD) (The) 3.75% 31-Dec-2049 3.71
Charles Schwab Corp - Pfd 3.63
PNC Financial Services Group Inc. (USD) (The) 3.40% 15-Dec-2169 3.42
JPMorgan Chase & Company (USD) 3.65% 31-Dec-2049 3.37
Capital One Financial Corporation (USD) 3.95% 31-Dec-2049 3.33
US Bancorp (USD) 3.70% 15-Jan-2170 3.29
Bank of America Corporation (USD) 4.38% 31-Dec-2049 3.19
Skandinaviska Enskilda Bnkn AB 5.13% PERP 2.99
BNP Paribas SA 7.38% PERP 2.92

Equity Style

Equity style data not available

Fixed Income Style

Fixed income style data not available
Period: 

Risk vs Return (3 Yr)

Purpose US Preferred Share Fund - Series A

Median

Other - Preferred Sh Fixed Income

3 Yr Annualized

Standard Deviation 11.22% 11.45% -
Beta 0.62% 0.58% -
Alpha -0.04% -0.03% -
Rsquared 0.45% 0.62% -
Sharpe -0.50% -0.12% -
Sortino -0.67% -0.25% -
Treynor -0.09% -0.02% -
Tax Efficiency - - -
Volatility Volatility rating is 5 on a scale of 1 to 10 Volatility rating is 5 on a scale of 1 to 10 -

Risk Rating

Rating 5 out of ten

Annualized Key Ratio Period Comparison

Key Ratio
Key Ratio 1 Yr 3 Yr 5 Yr 10 Yr
Standard Deviation 7.67% 11.22% 11.45% -
Beta 0.45% 0.62% 0.58% -
Alpha 0.05% -0.04% -0.03% -
Rsquared 0.61% 0.45% 0.62% -
Sharpe 0.84% -0.50% -0.12% -
Sortino 2.54% -0.67% -0.25% -
Treynor 0.14% -0.09% -0.02% -
Tax Efficiency 77.62% - - -

Fund Details

Start Date March 08, 2017
Instrument Type Mutual Fund
Share Class Commission Based Advice
Legal Status Trust
Sales Status Open
Currency CAD
Distribution Frequency Monthly
Assets ($mil) -

Fund Codes

FundServ Code Load Code Sales Status
PFC4000

Investment Objectives

The fund seeks to provide unitholders with (i) with a regular stream of monthly distributions and (ii) opportunity for capital appreciation by investing primarily in U.S. dollar denominated investment grade preferred securities.

Investment Strategy

To achieve its investment objectives the fund will invest primarily in a portfolio of U.S. investment grade preferred securities of issuers that the investment sub-advisor or the manager believes have strong fundamentals and are priced at attractive relative valuations and will be actively managed by the investment sub-advisor. Preferred securities are primarily issued by companies in the financial sector and, to a lesser degree, by companies in other sectors, such as industrials and utilities.

Portfolio Manager(s)

Name Start Date
Redwood Asset Management Inc. 12-14-2016
Neuberger Berman Investment Advisers LLC 12-14-2016

Management and Organization

Fund Manager Purpose Investments Inc.
Advisor Redwood Asset Management Inc.
Custodian CIBC Mellon Trust Company
Registrar CIBC Mellon Global Securities Services Company
Distributor -
Auditor Ernst & Young LLP

Investment Minimums

RSP Eligible Yes
PAC Allowed Yes
PAC Initial Investment 1,000
PAC Subsequent 100
SWP Allowed Yes
SWP Min Balance 5,000
SWP Min Withdrawal 100

Fees

MER 1.71%
Management Fee 1.50%
Load Back Fee Only
FE Max 5.00%
DSC Max -
Trailer Fee Max (FE) -
Trailer Fee Max (DSC) -
Trailer Fee Max (NL) -
Trailer Fee Max (LL) -

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