Description

The fund is a passively managed ETF that provides exposure to Canadian preferred stocks. Investments are primarily in securities of one or more iShares ETFs and/or Canadian fixed income securities. The fund selects preferred shares with a credit rating of at least P-3 that are listed on the Toronto Stock Exchange and denominated in Canadian dollars. Holdings are weighted by market value with no single issuer representing more than 10% of the portfolio. Using a sampling methodology in tracking the index, the fund invests in a sample of securities that collectively have a similar investment profile to the underlying index. The index is rebalanced on a quarterly basis.