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CI Alternative Investment Grade Credit Fund - ETF C$ Series

Alternative Credit Focus

FundGrade C Click for more information on Fundata’s FundGrade

FundGrade C

Click for more information on Fundata’s FundGrade.

NAVPS
(06-24-2024)
$19.71
Change
$0.02 (0.10%)

As at May 31, 2024

As at May 31, 2024

Period
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Legend

CI Alternative Investment Grade Credit Fund - ETF C$ Series

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Fund Returns

Inception Return (January 23, 2020): 2.71%

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 0.75% 1.36% 4.92% 3.66% 8.07% 5.14% 1.96% 4.45% - - - - - -
Benchmark 0.00% -1.48% 0.11% -3.20% 0.68% 0.65% -2.40% -2.27% -0.52% 0.70% 0.47% 0.78% 1.00% 1.62%
Category Average 0.93% 4.70% 4.70% 2.62% 7.35% 4.72% 1.95% 4.39% 3.53% - - - - -
Category Rank 82 / 120 71 / 120 52 / 120 48 / 120 57 / 116 40 / 101 36 / 77 30 / 61 - - - - - -
Quartile Ranking 3 3 2 2 2 2 2 2 - - - - - -

Monthly Return

Monthly Return
Return % Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May
Fund 0.51% 0.66% 0.17% 0.15% 0.15% 1.34% 1.21% 1.37% 0.88% 0.56% 0.05% 0.75%
Benchmark -0.04% -1.08% -0.19% -2.62% 0.43% 4.21% 3.42% -1.36% -0.40% 0.48% -1.95% 0.00%

Best Monthly Return Since Inception

2.86% (June 2020)

Worst Monthly Return Since Inception

-8.22% (March 2020)

Calendar Return (%)

Calendar Return
Return % 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Fund - - - - - - - 1.33% -3.50% 6.12%
Benchmark 9.10% 3.57% 1.54% 2.70% 1.29% 6.97% 8.61% -2.71% -11.46% 6.38%
Category Average - - - - - - 7.20% 3.25% -4.07% 7.22%
Quartile Ranking - - - - - - - 3 3 3
Category Rank - - - - - - - 53/ 74 53/ 97 64/ 115

Best Calendar Return (Last 10 years)

6.12% (2023)

Worst Calendar Return (Last 10 years)

-3.50% (2022)

Asset Allocation

Asset Allocation
Name Percent
Canadian Corporate Bonds 152.33
Cash and Equivalents 68.30
Foreign Corporate Bonds 36.96
Foreign Bonds - Other -0.12
Canadian Bonds - Other -0.19
Other -157.28

Sector Allocation

Sector Allocation
Name Percent
Cash and Cash Equivalent 68.30
Fixed Income 31.46
Exchange Traded Fund 0.21
Other 0.03

Geographic Allocation

Geographic Allocation
Name Percent
North America 94.34
Europe 3.37
Asia 1.19
Multi-National 0.68
Latin America 0.39
Other 0.03

Top Holdings

Top Holdings
Name Percent
Cash and Cash Equivalents 49.33
Canada Government 3.25% 01-Dec-2033 6.85
CITIGROUP INC 5.07% 29-Apr-2028 5.68
Canada Government 3.00% 01-Jun-2034 5.58
Wells Fargo & Co 5.08% 26-Apr-2027 5.16
MCDONALDS CORP 4.86% 21-May-2031 4.42
Nissan Canada Inc 2.10% 22-Sep-2025 4.36
Suncor Energy Inc 5.40% 17-Nov-2026 4.31
UNITED STATES TREASURY NOTE/BOND 4.62% 30-Apr-2029 4.24
WSP Global Inc 5.55% 22-Nov-2030 4.22

Equity Style

Equity style data not available

Fixed Income Style

Fixed income style data not available
Period: 

Risk vs Return (3 Yr)

CI Alternative Investment Grade Credit Fund - ETF C$ Series

Median

Other - Alternative Credit Focus

3 Yr Annualized

Standard Deviation 2.25% - -
Beta 0.19% - -
Alpha 0.02% - -
Rsquared 0.33% - -
Sharpe -0.40% - -
Sortino -0.59% - -
Treynor -0.05% - -
Tax Efficiency 35.27% - -
Volatility Volatility rating is 1 on a scale of 1 to 10 - -

Risk Rating

Rating 1 out of ten

Annualized Key Ratio Period Comparison

Key Ratio
Key Ratio 1 Yr 3 Yr 5 Yr 10 Yr
Standard Deviation 1.65% 2.25% - -
Beta 0.14% 0.19% - -
Alpha 0.08% 0.02% - -
Rsquared 0.34% 0.33% - -
Sharpe 1.79% -0.40% - -
Sortino 18.26% -0.59% - -
Treynor 0.21% -0.05% - -
Tax Efficiency 84.14% 35.27% - -

Fund Details

Start Date January 23, 2020
Instrument Type Exchange Traded Fund (Alternative)
Share Class Do-It-Yourself
Legal Status Trust
Sales Status Open
Currency CAD
Distribution Frequency Monthly
Assets ($mil) $687

Fund Codes

FundServ Code Load Code Sales Status
N/A

Investment Objectives

The fund seeks to generate consistent positive total returns with an emphasis on capital preservation and low correlation to traditional equity and fixed income markets. The fund will be primarily invested in the investment grade debt of corporations and financial institutions in the developed world. The fund will use leverage. The leverage will be created through the use of cash borrowings, short sales and derivative contracts.

Investment Strategy

The portfolio adviser will purchase and manage a core portfolio of primarily investment grade debt, the selection of which will be based on sound fundamental principles and technical market conditions. The investment will be allocated across a large number of issuers in multiple industry sectors and geographical locations in all parts of the capital structure and maturity profile.

Portfolio Manager(s)

Name Start Date
Andrew Torres 01-23-2020
Jason Goddard 11-02-2021
Jason Pitre 11-02-2021
CI Global Asset Management 05-05-2022

Management and Organization

Fund Manager CI Global Asset Management
Advisor CI Global Asset Management
Custodian CIBC Mellon Trust Company
Registrar CI Investments Inc
Distributor -
Auditor Ernst & Young LLP

Investment Minimums

RSP Eligible Yes
PAC Allowed No
PAC Initial Investment -
PAC Subsequent -
SWP Allowed No
SWP Min Balance -
SWP Min Withdrawal -

Fees

MER 1.71%
Management Fee 0.80%
Load No Load
FE Max -
DSC Max -
Trailer Fee Max (FE) -
Trailer Fee Max (DSC) -
Trailer Fee Max (NL) -
Trailer Fee Max (LL) -

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