加拿大
美國 
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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.
重要資料
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道明目標回報2025投資級債券ETF |
道明目標回報2026投資級債券ETF |
道明目標回報2027投資級債券ETF |
道明目標回報2025年美國投資等級債券交易所買賣基金 |
道明目標回報2026年美國投資等級債券交易所買賣基金 |
道明目標回報2027年美國投資等級債券交易所買賣基金 |
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|---|---|---|---|---|---|---|
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TSX Tickers |
TBCE |
TBCF |
TBCG |
TBUE.U |
TBUF.U |
TBUG.U |
|
基準 |
ICE BofA 1-3年加拿大企業指數 |
ICE BofA 1-3年加拿大企業指數 |
ICE BofA 1-3年加拿大企業指數 |
ICE BofA 1-3年美國企業指數 |
ICE BofA 1-3年美國企業指數 |
ICE BofA 1-3年美國企業指數 |
|
Management Fee (%) |
0.20 |
0.20 |
0.20 |
0.20 |
0.20 |
0.20 |
|
Risk Rating |
低 |
低 |
低 |
低 |
低 |
低 |
|
分紅次數 |
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 |
擔保投資證（GIC） |
Traditional Bond Funds |
|
|---|---|---|---|---|
Defined Maturity |
|
|
|
|
Ability to Bulk Trade |
|
1 |
|
|
Monthly Income |
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2 |
|
|
Ease of Execution |
|
|
|
|
Diversification（分散投資） |
|
|
不適用 |
|
專業人士管理 |
|
|
不適用 |
|
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
本文所含資訊由道明資產管理有限公司提供，僅供參考。內容乃出自可靠之來源匯編而成。圖表僅供解說之用，並不反映任何投資的未來價值或未來表現。本文並不提供任何財務、法律、稅務或投資建議。衡量個別投資、稅務或交易策略時，應考慮個別人士的目標和風險承受能力。
Commissions, management fees and expenses all may be associated with investments in ETFs. Please read the prospectus and ETF Facts before investing. 交易所買賣基金沒有擔保，其價值可能經常變化，且過去表現未必會重現。交易所買賣基金的單位在證券交易所按市場價格進行買賣，因此經紀人佣金的收取會減少回報。本文檔中的部分陳述可能包含預測性的前瞻性陳述（「FLS」），其中包含「預計」、「預期」、「打算」、「認為」、「估計」和類似的前瞻性表述或其否定形式。前瞻性陳述基於當前對未來普遍的經濟、政治、相關市場因素（例如利率和匯率、股票和資本市場）以及普遍經營環境的預計和預測，並假定不發生稅法或其他法律或政府管制方面的任何變動或災難事件。對於未來事件的預計和預測本身受無法預見的風險和不確定性的影響。此等預計和預測可能在未來並不準確。前瞻性陳述不是對未來表現的保證。實際發生的事件可能與前瞻性陳述明示或暗示的事件存在實質差異。包括上文所述各項因素在內的多個重要因素均可能造成這種背離。您不應在任何程度上依賴於前瞻性陳述。
道明交易所買賣基金由道明銀行（The Toronto-Dominion Bank）全資子公司道明資產管理有限公司（TD Asset Management Inc.）管理。
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