Guardian Directed Equity Path ETF

Tickers

Hedged: GDEP
: GDEP.B

NAV: 10/15/2021
CAD $19.60
DAILY 0.28%

Series

NAV:
CAD $
DAILY %
NAV:
CAD $
DAILY %

Overview

The Guardian Directed Equity Path ETF is designed to empower prosperity through higher income and enhanced capital preservation. The ETF combines a select portfolio of global equities with a carefully constructed overlay of derivative strategies, managed by deeply experienced portfolio managers, to help investors achieve their goals.

Asset Class: Global Equities
Investor Journey:
Total Fund AUM: CAD $40,442,955.02
Management Fee: 0.85%
Risk Rating: Low to Medium
Inception Date: 08/11/2020

Portfolio Managers

Dino Bourdos, CFA
Portfolio Manager, Head of Investment Solutions - Guardian Capital LP
Denis Larose, CFA, FCIA, FSA
Chief Investment Officer – Guardian Capital LP

Learn more about this fund

Highlights

KEY REASONS TO INVEST

    • Higher, Persistent Annual IncomeMonthly distribution targets at a 4% annual rate. 1
    • Downside Protection Through use of option strategy.
    • Reduced Volatility Increases the probability of meeting retirement goals.  

Annual Compound Performance

1M3M6MYTD1Y3Y5Y10YS.I
-3.230.514.596.4211.54---10.31
1M3M6MYTD1Y3Y5Y10YS.I
-3.552.034.533.993.16---2.97

S.I. (Since Inception) is the performance since Inception Date.
Information as of 09/30/2021.

Growth of $10,000


Information as of 09/30/2021.

Historical NAV

Disclaimer: The historical net asset value (NAV) chart above does not represent the performance of the ETF. It is shown to illustrate the daily movement of the NAV per Unit, which includes certain fees and expenses of the ETF but does not include reinvested distributions. Please note that the ETF’s Units trade on the TSX where investors will generally buy and sell the ETF’s Units at Market Price, which may be more or less than the value as the daily NAV. The NAV and the Market Price do not include any brokerage commissions or other trading fees incurred for buying or selling Units of the ETF.

1. As disclosed in the ETF's prospectus, the ETF intends to make monthly cash distributions based on a targeted annualized monthly distribution of 4% of the NAV per Unit at the end of the prior year. Distributions may consist of net income, dividends, net realized capital gains, and may also include return of capital.

Portfolio

Top Holdings

As of 09/30/2021
Ranks Holdings % Asset Mix
1Alphabet Inc. Class A 6.74
2Microsoft Corporation5.59
3Facebook Inc. Class A 5.45
4UnitedHealth Group Incorporated5.42
5Novo Nordisk AS Class B 5.34
6EssilorLuxottica4.47
7CME Group Inc. Class A 4.08
8Apple Inc.4.01
9Keyence Corporation3.97
10Home Depot Inc. (The)3.83
Geographic Breakdown
As of 09/30/2021
Sector Breakdown
As of 09/30/2021
` ESG

Morningstar® Sustainability Rating™

High
Relative to Category:
Global Equity Large Cap
# of Funds in Category:
6980

As of 2021-05-31

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    % Rank in global category7

Source: Morningstar® Essentials™ - Sustainability Rating and Sustainability Score as of 2021-05-31 out of 6980 funds. Based on 99.92% of AUM. Data is based on long positions only.

Responsible investing for a sustainable world

Guardian Capital LP is a signatory of the United Nations Principles of Responsible Investing (UN PRI) and as such we are obligated to incorporate ESG issues into our investment analysis and decision-making processes. The UN PRI does not prescribe the exclusion of any particular type of company or industry; rather it requires that we are informed on the ESG issues, and that we are comfortable with the activities and practices of the companies that we invest in.

Click here to learn more

Pri Badge SASB Inside Badge

Sustainability Score as of 2020-07-31. Sustainability Rating as of 2020-06-30. Sustainalytics provides company-level analysis used in the calculation of Morningstar’s Sustainability Score. Sustainability Mandate information is derived from the fund prospectus.

Morningstar® Portfolio Sustainability Score™

This score measures the degree to which the underlying portfolio pf companies are exposed to material ESG factors that can negatively impact economic value. A lower score represents a lower degree of sustainability risk.

Fund Category Average
Portfolio Sustainability Score™ 19.15 21.70

Source: Morningstar® Essentials™ - Portfolio ESG Pillar Risk Score as of 2021-05-31.


Source: Morningstar® Essentials™ - Portfolio Carbon Risk Score and Fossil Fuel Involvement as of 2021-05-31.


Source: Morningstar® Essentials™ - Portfolio Distribution of Carbon Risk as of 2021-05-31.

Morningstar® Sustainability Rating™

High
Relative to Category:
Global Equity Large Cap
# of Funds in Category:
6980

As of 2021-05-31

  • global_guardian.png
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  • global_guardian.png
  • global_guardian.png
  • global_guardian.png

    % Rank in global category7

Source: Morningstar® Essentials™ - Sustainability Rating and Sustainability Score as of 2021-05-31 out of 6980 funds. Based on 99.92% of AUM. Data is based on long positions only.

Responsible investing for a sustainable world

Guardian Capital LP is a signatory of the United Nations Principles of Responsible Investing (UN PRI) and as such we are obligated to incorporate ESG issues into our investment analysis and decision-making processes. The UN PRI does not prescribe the exclusion of any particular type of company or industry; rather it requires that we are informed on the ESG issues, and that we are comfortable with the activities and practices of the companies that we invest in.

Click here to learn more

Pri Badge SASB Inside Badge

Sustainability Score as of 2020-07-31. Sustainability Rating as of 2020-06-30. Sustainalytics provides company-level analysis used in the calculation of Morningstar’s Sustainability Score. Sustainability Mandate information is derived from the fund prospectus.

Morningstar® Portfolio Sustainability Score™

This score measures the degree to which the underlying portfolio pf companies are exposed to material ESG factors that can negatively impact economic value. A lower score represents a lower degree of sustainability risk.

Fund Category Average
Portfolio Sustainability Score™ 19.15 21.70

Source: Morningstar® Essentials™ - Portfolio ESG Pillar Risk Score as of 2021-05-31.


Source: Morningstar® Essentials™ - Portfolio Carbon Risk Score and Fossil Fuel Involvement as of 2021-05-31.


Source: Morningstar® Essentials™ - Portfolio Distribution of Carbon Risk as of 2021-05-31.

Definitions:

Sustainability Rating is a ranking of a fund’s ESG risks relative to that fund’s Morningstar Category peers. It provides a measure of how well the issuing companies of the securities within a fund’s portfolio are managing their financially material ESG risks. The Morningstar Sustainability Rating is depicted by globe icons where 5 globes equals High ranking (lower ESG risk) and 1 globe equals Low ranking (higher ESG risk) compared to category peers, based off each respective funds’ Morningstar® Portfolio Sustainability Score™.

Portfolio Sustainability Score assesses the degree to which the underlying companies in a fund’s portfolio are exposed to ESG factors that can negatively impact the portfolio’s value. The Portfolio Sustainability Score ranges between 0 to 100, with a higher score indicating that a fund has, on average, more of its assets invested in companies with high ESG Risk. Lower score means lower ESG risk.

Portfolio Carbon Risk Score is used to evaluate carbon risk at the portfolio level. It is an asset-weighted score based on Sustainalytics’ carbon-risk rating of the companies held in the fund’s portfolio. It measures the risk that companies in a fund’s portfolio face from the transition to a low-carbon economy. A company’s ability to reduce emissions and mitigate carbon risk using various management strategies is deducted from their overall carbon risk exposure score. A lower score means lower carbon risk.

Portfolio Fossil Fuel Involvement is designed to highlight the degree to which a fund’s portfolio is exposed to this most significant carbon risk. Companies with fossil-fuel exposure are defined as those with involvement in thermal coal extraction, thermal coal power generation and oil & gas production, power generation, &/or products and services.

Fund’s Distribution of Carbon Risk shows the percent of the fund’s portfolio holdings with negligible, low, medium, high, or severe Carbon Risk Ratings, as calculated by Sustainalytics.

Low Carbon Designation™ is intended to allow investors to easily identify low-carbon funds across the global universe. The designation is an indicator that the companies held in a fund’s portfolio are in general alignment with the transition to a low-carbon economy, and have low carbon risk scores and low levels of fossil fuel exposure.

Morningstar ratings are portfolio-based, not performance-based. They do not reflect a fund’s performance on either an absolute or risk-adjusted basis, nor are they a qualitative Morningstar evaluation of a fund’s merits and should not be the sole basis for an investment decision.

+ Click here for footnotes and fund disclosure
Morningstar Disclaimers:
© 2021 Morningstar®. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
  1. The Morningstar® Sustainability Rating™ is intended to measure how well the issuing companies of the securities within a fund’s portfolio are managing their environmental, social, and governance (“ESG”) risks and opportunities relative to the fund’s Morningstar category peers, and is updated monthly. The Morningstar Sustainability Rating is depicted by globe icons where 5 globes equals High ranking (lowest ESG Risk) and 1 globe equals Low ranking (highest ESG Risk) compared to category peers, based off each fund’s Morningstar® Portfolio Sustainability Score™. A Sustainability Rating is assigned to any fund that has more than half of its underlying assets receiving an ESG Risk Rating from Sustainalytics, and is within a Morningstar Category with at least 10 scored funds; therefore, the rating it is not limited to funds with explicit sustainable or responsible investment mandates.
  2. The Morningstar® Portfolio Sustainability Score™ measures the degree to which a fund’s underlying portfolio of companies are exposed to material ESG factors that can negatively impact economic value. The Portfolio Sustainability Score ranges between 0 to 100, with a higher score indicating that a fund has, on average, more of its assets invested in companies with high ESG Risk Rating. A fund with a lower score indicates lower ESG risk. The Portfolio Sustainability Score™ uses an asset-weighted average of all covered securities. To receive a Morningstar® Portfolio Sustainability Score™, at least 67% of a fund's AUM must have an ESG Risk Score. Cash, short term corporate investments, and derivatives are excluded from calculations. Sustainalytics provides company-level analysis for the ESG Risk Rating used in the calculation of Morningstar’s Historical Sustainability Score.
  3. Morningstar® Portfolio ESG Pillar Scores™ are designed to help investors identify and understand financially material ESG risks at the security and portfolio level and how they might affect the long-term performance for equity and fixed income investments. The Portfolio ESG Pillar Scores are based on Sustainalytics’ company-level ESG Risk Ratings, which have been disaggregated into three pillar scores—(E) environmental, (S) social, and (G) governance. Sustainalytics company-level ESG Risk Ratings are based on a two-dimensional materiality framework that measures a company’s exposure to industry-specific material ESG risks and how well a company is managing those ESG Risks. This distinct approach combines the concepts of management and exposure to arrive at an absolute assessment of ESG risk.
  4. The Morningstar® Portfolio Carbon Risk Score™ is the asset-weighted, company-level, carbon-risk rating of the companies in a fund’s portfolio. A fund with a lower Carbon Risk Score is positioned to fare better in the transition to a low-carbon economy than is a fund with a higher Carbon Risk Score. To receive a Morningstar Portfolio Carbon Risk Score, at least 67% of a fund’s portfolio assets must have a carbon-risk rating from Sustainalytics, which measures the risk that companies face from the transition to a low-carbon economy. A company’s ability to reduce emissions and mitigate carbon risk using various management strategies is deducted from their overall carbon risk score. The Carbon Risk score is ranked from 0 (Low) to 50+ (Severe). The percentage of assets covered is rescaled to 100% before calculating the score. Morningstar Portfolio Carbon Risk Scores are based on the most recent quarterly calculations of their 12- month trailing average.
  5. The Morningstar® Portfolio Fossil Fuel Involvement™ is designed to highlight the degree to which a fund’s portfolio is exposed to this most significant carbon risk. Morningstar Portfolio Fossil Fuel Involvement is the portfolio's percentage exposure to fossil fuels, averaged over the trailing 12 months. Companies with fossil-fuel involvement are defined as those deriving at least 5% of their revenue from the following activities: thermal coal extraction, thermal coal power generation, oil and gas production, and oil and gas power generation. Companies deriving at least 50% of their revenue from oil and gas products & services are also included.
  6. The Fund’s Distribution of Carbon Risk shows the percent of the fund’s calculated AUM with negligible, low, medium, high, or severe Carbon Risk Ratings. At least 67% of portfolio assets must have a Carbon Risk Rating from Sustainalytics for a portfolio score to be calculated.

Please refer to http://corporate1.morningstar.com/SustainableInvesting/ for more detailed information about the various Morningstar Sustainability Ratings and their calculation.

Sustainalytics is an ESG and corporate governance research, ratings, and analysis company affiliated with Morningstar, Inc.
Distributions
Distributions
SI $0.9281
SI $0.8984
 2021$0.6165
Sep-23$0.0685
Aug-24$0.0685
Jul-23$0.0685
Jun-23$0.0685
May-21$0.0685
Apr-23$0.0685
Mar-24$0.0685
Feb-19$0.0685
Jan-22$0.0685
 2020$0.3116
Dec-23$0.0667
Nov-23$0.0667
Oct-23$0.0667
Sep-23$0.1115
 2021$0.5868
Sep-23$0.0652
Aug-24$0.0652
Jul-23$0.0652
Jun-23$0.0652
May-21$0.0652
Apr-23$0.0652
Mar-24$0.0652
Feb-19$0.0652
Jan-22$0.0652
 2020$0.3116
Dec-23$0.0667
Nov-23$0.0667
Oct-23$0.0667
Sep-23$0.1115

For press releases on distributions please click here.

Disclaimer: This distribution data is for informational purposes only and should not be construed to be tax advice. Your own tax advisor must be consulted for advice. Distributions are paid in Canadian dollars unless otherwise stated. Each ETF makes distributions in accordance with the distribution policy stated in its Prospectus. Each of the ETFs has the ability to make distributions as returns of capital. The payment of distributions should not be confused with an ETF's performance, rate of return or yield. If distributions paid by the ETF are greater than the performance of the ETF, distributions paid may include a return of capital and an investor's original investment will decrease. A return of capital is not taxable to the investor, but will generally reduce the adjusted cost base of the securities held for tax purposes. If the adjusted cost base falls below zero, investors will realize capital gains equal to the amount below zero. Future distribution dates may be amended at any time. Reinvested distributions are not paid in cash but instead remain invested in the ETF. To recognize that reinvested distributions have been allocated to investors for tax purposes the amounts of these distributions should be added to the adjusted cost base of the units held. The characterization of distributions for tax purposes (such as dividends/other income/capital gains etc.) will not be known for certain until after the ETF's tax year end. Therefore investors will be informed of the tax characterization after year-end and not with each distribution. For tax purposes these amounts will be reported annually on official tax statements.

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