ISHARES DEX UNIVERSE BOND INDEX FUND $29.56 (CWA Rating: Income) (Toronto symbol XBB; buy or sell through a broker) mirrors the performance of the DEX Universe Bond Index.
This index consists of a wide range of investment-grade Canadian government and corporate bonds with terms to maturity of more than one year. The 310 bonds in the portfolio have an average term to maturity of 8.49 years. The fund’s MER is 0.30%.
The bonds in the index are 85.1% government and 14.9% corporate. The fund sticks with high-quality government bonds from issuers such as Canada Housing Trust, Government of Canada and Province of Ontario, plus high-quality corporate bonds from issuers such as Bank of Montreal, TransCanada Pipelines, Bank of Nova Scotia and Bell Canada.
The fund yields 4.1%, compared to 3.6% for the Short Bond Fund. Its yield to maturity is 3.19%, 0.88% above the Short Bond figure. The spread reflects the added risk of holding long-term bonds.
iShares DEX Universe Bond Index Fund is a buy, but only if you can accept that risk.
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