加拿大
美国 
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Where Convenience Meets Investment Experience
Simplify how you manage your fixed income portfolio with the TD Target Maturity Bond Exchange-Traded Funds (TD TMB ETFs). The TD TMB ETFs offer the benefits of a traditional bond fund like diversification and regular income with the added benefits that come with an ETF like liquidity and transparency. TD TMB ETFs buy and hold bonds to a set maturity date, which can help reduce short-term volatility and provide greater clarity of the cash flows over the defined term and the principal repayment value at maturity.
How They Work
The TD TMB ETFs invest in a portfolio of investment-grade corporate bonds which are hand-picked by the Fixed Income Investment Team at TD Asset Management Inc. (TDAM), offering increased diversification and the chance to generate higher yields when compared to other fixed income products. Each ETF matures in successive years from 2025 to 2027 and is offered in both Canadian and U.S. dollar versions. The suite includes the six following ETFs:
加元
Each of the TD Target Maturity Canadian Bond ETFs seek to provide regular income and preserve capital by investing primarily in a portfolio of investment-grade Canadian corporate bonds denominated in Canadian dollars, each maturing in the Maturity Year of the respective ETF.
美元
Each of the TD Target Maturity U.S.Bond ETFs seek to provide regular income and preserve capital by investing primarily in a portfolio of investment-grade U.S. corporate bonds denominated in Canadian dollars, each maturing in the Maturity Year of the respective ETF.
重要资料
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道明目标回报2025年投资级债券交易所买卖基金 |
道明目标回报2026年投资级债券交易所买卖基金 |
道明目标回报2027年投资级债券交易所买卖基金 |
道明目标回报2025年美国投资级债券交易所买卖基金 |
道明目标回报2026年美国投资级债券交易所买卖基金 |
道明目标回报2027年美国投资级债券交易所买卖基金 |
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|---|---|---|---|---|---|---|
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TSX Tickers |
TBCE |
TBCF |
TBCG |
TBUE.U |
TBUF.U |
TBUG.U |
|
基准 |
ICE BofA 1-3年加拿大企业指数 |
ICE BofA 1-3年加拿大企业指数 |
ICE BofA 1-3年加拿大企业指数 |
ICE BofA 1-3年美国企业指数 |
ICE BofA 1-3年美国企业指数 |
ICE BofA 1-3年美国企业指数 |
|
Management Fee (%) |
0.20 |
0.20 |
0.20 |
0.20 |
0.20 |
0.20 |
|
Risk Rating |
低 |
低 |
低 |
低 |
低 |
低 |
|
分红次数 |
Monthly & Variable |
Monthly & Variable |
Monthly & Variable |
Monthly & Variable |
Monthly & Variable |
Monthly & Variable |
|
Currency Exposure |
加元 |
加元 |
加元 |
美元 |
美元 |
美元 |
Fund Characteristics
Download file for updated weekly fund characteristics like yield to maturity, average coupon, bond yield and more.
Reasons to Invest
- Ease of execution - TD TMB ETFs can be purchased on the Toronto Stock Exchange with no minimum purchase amounts, providing investors with the desired bond exposure for their portfolio.
- Liquidity – An ETF structure allows investors to trade and adjust their bond exposure in response to changing market conditions or evolving investment objectives.
- Yield – TD TMB ETFs can offer competitive yields to GICs or other money market instruments.
- Potential for tax-efficiency - With many corporate bonds trading at a discount, a portion of the total return can be treated as capital gains as opposed to interest income which is taxed at higher rate in a non-registered investment account.
- Aligning investment time horizons – TD TMB ETFs offer the ability to match the time horizon of the investor with the maturity date of the ETF, which allows investors to save for specific financial goals or needs.
- Build laddered portfolios – TD TMB ETFs are an efficient way to help build a laddered portfolio to manage interest rate and/or reinvestment risk. While a traditional bond fund will typically buy and sell individual bonds to maintain an average maturity, a target maturity bond ETF has a fixed target date, and when the ETF closes, investors should receive their principal, similar to individual bond investments.
What Happens at Maturity
The TD TMB ETFs purchase bonds that have a common maturity date. In the maturity year, as the bonds held in the ETF mature, the proceeds are generally invested in cash and cash equivalents or additional investment-grade corporate bonds with maturity in line with the ETF's maturity date. As the TD TMB ETF nears its maturity date, its yield to maturity should closely reflect prevailing money market yields, its duration will shorten and price volatility should gradually decline. In addition, as maturity approaches, monthly distributions can be expected to decrease, to reflect money market yields being earned. Over this same time period, the ETF's net asset value per unit will converge toward its par value per unit. When the ETF's maturity date arrives, the ETF is expected to terminate, and investors should receive their principal, similar to individual bond investments.
Comparing Different Types of Fixed Income Offerings
TD TMB ETFs |
Individual Bonds |
GIC |
Traditional Bond Funds |
|
|---|---|---|---|---|
Defined Maturity |
|
|
|
|
Ability to Bulk Trade |
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1 |
|
|
Monthly Income |
|
2 |
|
|
Ease of Execution |
|
|
|
|
分散投资 |
|
|
不适用 |
|
专业人士管理 |
|
|
不适用 |
|
1Bonds trade over the counter and inventory may be limited
2Most corporate bonds pay coupons on a semi-annual basis
*ETFs and mutual funds, unlike GICs, are not insured by the Canada Deposit Insurance Corporation (CDIC) or any other deposit insurer nor guaranteed by any entity.
TD TMB ETFs Additional Resources
Product Overview
Fund Cards
本文所含信息由道明资产管理有限公司提供，仅供参考。信息出自我们认为可靠的来源。图表仅供解说之用，并不反映任何投资的未来价值或未来表现。本信息并未提供财务、法律、税务或投资建议。具体的投资、税款或交易策略应根据每位投资者的目标和风险承受能力加以评估。
Commissions, management fees and expenses all may be associated with investments in ETFs. Please read the prospectus and ETF Facts before investing. 交易所买卖基金没有担保，其价值可能经常变化，且既往表现可能不会重现。交易所买卖基金单位在证券交易所按市场价格进行买卖，因此收益会因经纪人佣金的支付而减少。本文档中的部分陈述可能包含预测性的前瞻性陈述（“FLS”），其中包含“预计”、“预期”、“打算”、“认为”、“估计”和类似的前瞻性表述或其否定形式。前瞻性陈述基于当前对未来普遍的经济、政治、相关市场因素（例如利率和汇率、股票和资本市场）以及普遍经营环境的预计和预测，并假定不发生税法或其他法律或政府管制方面的任何变动或灾难事件。对于未来事件的预计和预测本身受无法预见的风险和不确定性的影响。此等预计和预测可能在未来并不准确。前瞻性陈述并非对未来表现的保证。实际发生的事件可能与前瞻性陈述明示或暗示的事件存在实质差异。包括上文所述各项因素在内的多个重要因素均可能造成这种背离。您不应在任何程度上依赖于前瞻性陈述。
道明交易所买卖基金由道明银行（Toronto-Dominion Bank）全资子公司道明资产管理有限公司（TD Asset Management Inc.）管理。
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