Dynamic Active Preferred Share ETF announced on May 19 a monthly cash distribution of C$0.097 per unit for holders. The distribution is payable on May 29, with a record date of May 26, which is also the ex-dividend date.
The ETF trades on the Toronto Stock Exchange under the symbol DXP. The C$0.097 distribution level is consistent with recent months. Historical records show DXP paid C$0.097 per unit monthly from January to April 2026, and maintained the same level in October and November 2025. A single distribution of C$0.1007 was paid in December 2025. Based on the current trading price of approximately C$26.15, the fund's trailing 12-month distribution yield is about 4.46%.
The fund is actively managed by 1832 Asset Management and was launched on January 20, 2017. It primarily invests in the Canadian preferred share market, aiming to provide consistent tax-advantaged income and diversification. The fund employs fundamental, bottom-up security selection, using the S&P/TSX Preferred Share Index as its benchmark.
Regarding asset allocation, as of March 31, 2026, the fund's primary investment is in Canadian preferred shares, representing 72.2% of the portfolio, with hybrid & long-term convertible bonds comprising 20.3%. Sector exposure is led by insurance at 27.3%, followed by pipeline transportation at 20.6%, electric utilities at 12.9%, and banks at 11.9%. The top ten holdings account for 16.0% of the fund and include preferred shares of leading Canadian companies such as Enbridge, BCE, TC Energy, Fortis, and Manulife Financial. By preferred share type, reset issues constitute 69.4% of the portfolio, while perpetual issues make up 24.6%.
As of April 30, 2026, the fund's one-year return was 20.8%, its three-year annualized return was 16.6%, and its annualized return since inception was 7.7%. The fund's assets under management are approximately C$602 million, with a management fee of 0.68%. Morningstar has assigned the fund an Analyst Rating of "Silver," citing its strong investment process and management team.