Tradex Performance
Breakdown. A Closer Look
at Our Results and Costs.

*Source: Morningstar
^ Canadian fixed income/Canadian fixed income balanced
# Amendments to Canadian security regulations now require the MER calculation to include the underlying expenses charges against the net assets of foreign listed closed-end fund companies.
1) Management expense ratio is based on total expenses (excluding broker commission and other portfolio transaction costs) of the fund and the underlying funds where applicable, for the year and is ex-pressed as an annualized
percentage of daily average net asset value during the year.
2) The fund invests in closed-end fund companies listed on global stock exchanges whose investments are principally in a diversified portfolio of equity securities. Each closed-end fund will have expenses charged against the underlying
Net Assets of the fund. Purchasing at a significant discount to these NAVs is a key component of this fund.
3) The movements in the discounts applicable to the underlying fund prices frequently offsets the potential impact of the underlying incremental expenses.
Attribution analysis for the year indicated a 0.72% positive contribution from discount movements for 2021 and and average 1.8% per annum for the past 5 years.