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Mackenzie North American Corporate Bond Fund Series A

High Yield Fixed Income

FundGrade D Click for more information on Fundata’s FundGrade

FundGrade D

Click for more information on Fundata’s FundGrade.

NAVPS
(04-17-2024)
$9.25
Change
$0.01 (0.12%)

As at March 31, 2024

As at January 31, 2024

Period
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Legend

Mackenzie North American Corporate Bond Fund Series A

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Fund Returns

Inception Return (June 18, 2009): 4.20%

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 1.01% 1.49% 7.13% 1.49% 6.43% 1.43% -0.21% 3.65% 1.92% 1.88% 1.84% 3.13% 2.04% 1.91%
Benchmark 0.83% 4.14% 9.32% 4.14% 11.08% 7.29% 2.94% 4.89% 3.41% 3.99% 3.87% 5.46% 5.00% 5.66%
Category Average 1.04% 7.26% 7.26% 1.57% 7.54% 1.83% 0.64% 4.84% 2.38% 2.44% 2.46% 3.43% 2.65% 2.59%
Category Rank 163 / 300 194 / 300 213 / 298 194 / 300 250 / 294 221 / 288 236 / 281 245 / 274 208 / 266 194 / 242 179 / 229 159 / 201 159 / 190 155 / 173
Quartile Ranking 3 3 3 3 4 4 4 4 4 4 4 4 4 4

Monthly Return

Monthly Return
Return % Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
Fund 0.48% -1.18% 0.53% 0.66% -0.08% -1.06% -0.67% 3.47% 2.70% 0.56% -0.08% 1.01%
Benchmark 1.23% -1.13% -0.73% 1.08% 2.51% -1.32% 1.59% 2.42% 0.89% 1.39% 1.87% 0.83%

Best Monthly Return Since Inception

4.49% (March 2016)

Worst Monthly Return Since Inception

-9.03% (March 2020)

Calendar Return (%)

Calendar Return
Return % 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Fund 1.25% -6.06% 13.10% 4.76% -5.60% 11.50% 5.34% 2.30% -11.14% 7.68%
Benchmark 8.91% 14.93% 10.80% 2.96% 5.36% 7.98% 6.14% 0.50% -6.92% 10.36%
Category Average 2.69% -2.71% 9.58% 5.34% -2.63% 9.49% 5.35% 3.21% -10.00% 8.59%
Quartile Ranking 4 4 2 3 4 2 2 4 4 4
Category Rank 154/ 172 169/ 183 81/ 200 117/ 228 230/ 240 97/ 265 130/ 273 218/ 275 226/ 285 229/ 294

Best Calendar Return (Last 10 years)

13.10% (2016)

Worst Calendar Return (Last 10 years)

-11.14% (2022)

Asset Allocation

Asset Allocation
Name Percent
Foreign Corporate Bonds 63.62
Canadian Corporate Bonds 21.80
Foreign Government Bonds 4.44
Cash and Equivalents 3.21
Foreign Bonds - Funds 3.08
Other 3.85

Sector Allocation

Sector Allocation
Name Percent
Fixed Income 91.28
Cash and Cash Equivalent 3.21
Mutual Fund 3.08
Energy 0.45
Utilities 0.45
Other 1.53

Geographic Allocation

Geographic Allocation
Name Percent
North America 90.10
Latin America 4.32
Multi-National 3.11
Europe 2.07
Africa and Middle East 0.25
Other 0.15

Top Holdings

Top Holdings
Name Percent
Mackenzie Global Sustainable High Yield Bond Fund Series R 3.08
Mackenzie Global High Yield Fixed Incom ETF (MHYB) 1.92
Mexico Government 8.50% 01-Mar-2029 1.29
Keyera Corp 6.88% 13-Jun-2079 1.16
Cash and Cash Equivalents 1.14
Inter Pipeline Ltd 6.88% 26-Mar-2079 1.11
Enbridge Inc 5.38% 27-Sep-2027 1.03
Videotron Ltd 3.63% 15-Jun-2028 1.02
Northleaf Private Credit II LP MI 15 1.00
Brazil Government 10.00% 01-Jan-2031 1.00

Equity Style

Equity style data not available

Fixed Income Style

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

Risk vs Return (3 Yr)

Mackenzie North American Corporate Bond Fund Series A

Median

Other - High Yield Fixed Income

3 Yr Annualized

Standard Deviation 5.92% 6.94% 6.18%
Beta 0.65% 0.80% 0.46%
Alpha -0.02% -0.01% -0.01%
Rsquared 0.59% 0.67% 0.27%
Sharpe -0.45% 0.03% 0.11%
Sortino -0.66% -0.15% -0.19%
Treynor -0.04% 0.00% 0.02%
Tax Efficiency - 16.97% 9.27%
Volatility Volatility rating is 2 on a scale of 1 to 10 Volatility rating is 2 on a scale of 1 to 10 Volatility rating is 2 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 4.81% 5.92% 6.94% 6.18%
Beta 0.49% 0.65% 0.80% 0.46%
Alpha 0.01% -0.02% -0.01% -0.01%
Rsquared 0.21% 0.59% 0.67% 0.27%
Sharpe 0.33% -0.45% 0.03% 0.11%
Sortino 1.53% -0.66% -0.15% -0.19%
Treynor 0.03% -0.04% 0.00% 0.02%
Tax Efficiency 73.58% - 16.97% 9.27%

Fund Details

Start Date June 18, 2009
Instrument Type Mutual Fund
Share Class Commission Based Advice
Legal Status Trust
Sales Status Open
Currency CAD
Distribution Frequency Monthly
Assets ($mil) $1,083

Fund Codes

FundServ Code Load Code Sales Status
MFC2979
MFC3683
MFC4214
MFC7186

Investment Objectives

The Fund seeks to generate above-average income with potential for long-term capital growth by investing primarily in higher yielding fixed-income securities of corporate issuers.

Investment Strategy

The Fund will generally invest more than 40% of its assets in fixed income securities that have a credit rating below “BBB-” as rated by a recognized credit rating organization and may invest in unrated debt instruments. Where securities have a lower credit qualify, a bottom-up approach including an analysis of business, cash flows and recovery value will also be sued to value the opportunity.

Portfolio Manager(s)

Name Start Date
Movin Mokbel 02-20-2020
Steve Locke 02-20-2020
Konstantin Boehmer 02-20-2020
Dan Cooper 02-20-2020

Management and Organization

Fund Manager Mackenzie Financial Corporation
Advisor Mackenzie Financial Corporation
Custodian Canadian Imperial Bank of Commerce
Registrar Mackenzie Financial Corporation
Distributor -
Auditor Deloitte and Touche LLP

Investment Minimums

RSP Eligible Yes
PAC Allowed Yes
PAC Initial Investment 50
PAC Subsequent 50
SWP Allowed Yes
SWP Min Balance 5,000
SWP Min Withdrawal 0

Fees

MER 1.86%
Management Fee 1.45%
Load Back Fee Only
FE Max -
DSC Max 5.50%
Trailer Fee Max (FE) -
Trailer Fee Max (DSC) 0.50%
Trailer Fee Max (NL) -
Trailer Fee Max (LL) -

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