CFRN CIBC Active Investment Grade Floating Rate Bond ETF

About this ETF

CIBC Active Investment Grade Floating Rate Bond ETF is an actively managed exchange-traded fund focused on the Canadian fixed income market. Launched in January 2019 by CIBC Asset Management Inc., it primarily invests in investment-grade floating rate debt obligations, including corporate bonds, government bonds, provincial bonds, asset-backed securities, and securitized products, with a geographic emphasis on Canada supplemented by U.S. exposure. The fund employs fundamental and quantitative analysis, combining bottom-up security selection with top-down sector views, and uses interest rate derivatives to mitigate fluctuations while targeting the FTSE Canada Floating Rate Note Index as a benchmark. Key features include a low management expense ratio of 0.34%, monthly dividend distributions yielding around 4.01%, and a portfolio of approximately 36 holdings, with significant allocations to cash equivalents and prominent issuers like Province of Ontario and Canada Housing Trust. With assets under management exceeding $496 million, it serves investors seeking current income generation alongside capital preservation in a floating rate bond environment, offering reduced sensitivity to interest rate changes typical of this niche within the broader fixed income landscape.