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Manulife
About 3.3% recurring income; over the last 3 years capital was roughly flat (3%/yr).
Payout over time
Fund health
For bond funds, the useful comparison is the recent cash payout beside the portfolio's yield to maturity, duration, credit quality, and sector mix. These are portfolio facts, not a forecast of future distributions.
Portfolio yield vs payout
Portfolio data as of Jun 2026.
The trailing payout was 3.3%. The portfolio yield to maturity was 3.8% at the holdings vintage, so the portfolio yield was at or above the recent payout rate.
YTM is modeled from the bond portfolio. Actual distributions can differ as holdings, fees, realized gains or losses, and tax character change.
Interest-rate sensitivity
2.7 years effective duration
A 1 percentage point rise in interest rates would move the unit price about -2.7%; a 1 point fall, about +2.7%.
Evidence: worst 5-year drawdown was -7.8%.
Credit quality
How it's taxed
The CRA taxes each distribution dollar by its character. These shares are measured against the full taxable distribution, including any portion the fund reinvested as units rather than paying in cash.
| Character | % of taxable | $ / unit |
|---|---|---|
| Interest / other income | 100% | $0.3500 |
Based on Manulife's 2025 T3 / tax-factor filing. Character can vary year to year. This is not tax advice; consult a tax professional about your situation.
Character mix by year
What you keep, in your account
Each figure below starts from the headline yield of 3.3% and shows an estimate of what you keep after tax. Where you hold the fund changes the answer: a TFSA shelters Canadian tax and can still lose foreign withholding tax when the fund has foreign withholding, a non-registered account taxes each character at its own rate, and an RRSP defers tax until you withdraw.
These figures are estimates at the top ON marginal tax rate, not your personal rate.
Illustrative, not tax advice.
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Next steps
Prices as of 2026-07-27. Distributions as of 2026-07-28. Tax character year 2025.
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97% investment grade (BBB and above). This profile is usually more sensitive to rate moves than to issuer default risk.
Portfolio data as of Jun 2026.
What it holds
Portfolio data as of Jun 2026.
Own payout record
Cash distributed per unit, by calendar year, from the fund's own distribution history (up to the last 6 years). "Reduced" marks a year where the cash paid per unit fell more than 5% versus the prior year.