Q: Can you explain the dynamics of this ETF declining some 18 % this year. Thanks. Derek
5i Research Answer:
It is down 18.6% in unit value, but with distributions now so much (about 5.6%). Long dated US treasuries bounced around this year, and even with lower rates they declined in value as economic growth and inflation concerns remained strong, especially in the latter part of the year. The fund also pays a large portion of its dividend as return of capital which can lower NAV.