(As of 8/31/2025)

NBI Unconstrained Fixed Income ETF (NUBF)

(Multi-Sector Fixed Income)
FundGrade A+® Rating recipient
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Inception Return
(10/18/2019) 		2.20 %
YTD Return 5.04 %
NAVPS
(9/15/2025) 		$21.61
Change $0.03 / 0.15 %
Growth of $10,000 (As of August 31, 2025)
MER 0.78 %
Assets ($mil) $2,824.01
Rank (1Yr) 153/300
Std Dev (3Yr) -
Volatility Ranking (3Yr) 2/10
RRSP Eligibility Yes
Load No Load
Max Front End -
Max Back End -
Sales Status Open
 
Objective
The investment objective is to maximize total return, consistent with preservation of capital. The NBI ETF invests, directly or indirectly through investments in securities of one or many other mutual funds or through the use of derivatives, in a diversified portfolio composed mainly of fixed-income securities of issuers located throughout the world with various maturities and credit ratings.
Fund Manager

National Bank Investments Inc.

Portfolio Manager

National Bank Trust Inc.

Sub-Advisor

Iain Stealey, J.P. Morgan Investment Management Inc.

Robert C. Michele, J.P. Morgan Investment Management Inc.

Lisa Coleman, J.P. Morgan Investment Management Inc.

Andrew Headley, J.P. Morgan Investment Management Inc.

Jeffrey Hutz, J.P. Morgan Investment Management Inc.

Robert Cook , J.P. Morgan Investment Management Inc.

Thomas Hauser, J.P. Morgan Investment Management Inc.

Jeffrey Lovell, J.P. Morgan Investment Management Inc.

Manish Goyal, J.P. Morgan Investment Management Inc.

 
Asset Allocation
(As of August 31, 2025)
Sector Allocation
(As of August 31, 2025)
Geographic Allocation
(As of August 31, 2025)
Top 10 Holdings
NameAssetSectorGeographicPercent
Cash and Cash EquivalentsCash and EquivalentsCash and Cash EquivalentCanada9.73%
Interest Rate Swap 3.95% 19-Apr-2029OtherOtherUnited States7.25%
Credit default swap , due June 20, 2030OtherOtherUnited States5.38%
Interest Rate Swap 2.41% 18-Dec-2034OtherOtherOther European2.11%
Federal National Mrtgage Assoc 4.50% 01-Aug-2052OtherFixed IncomeUnited States2.07%
Government Nationl Mrtg Assc 2 4.50% 20-Jun-2053OtherFixed IncomeUnited States1.97%
Federal National Mrtgage Assoc 5.50% 01-Jul-2053OtherFixed IncomeUnited States1.91%
Interest Rate Swap , due April 19, 2037OtherOtherUnited States1.76%
Credit default swap , due June 30, 2030OtherOtherOther European1.65%
Mexico Government 8.50% 28-Feb-2030Foreign BondsFixed IncomeLatin America1.65%

Performance Data (As of August 31, 2025)
  Return (%) Annualized Return (%)
Return 1 Mth 3 Mth 6 Mth YTD 1 Yr 3 Yr 5 Yr 10 Yr
Fund 1.47 2.77 3.33 5.04 4.86 4.59 2.01 -   
Benchmark 0.79 2.58 0.58 3.03 7.15 7.05 0.64 2.56
Quartile Ranking 1 2 1 1 3 3 2 -

Calendar Return (%) 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Fund 2.13 5.74 -6.96 0.53 6.50 -      -      -      -      -     
Benchmark 9.76 5.25 -10.27 -4.31 7.35 4.01 6.50 1.23 1.29 16.14
Quartile Ranking 4 4 2 3 1 - - - - -

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