iShares Monthly Diversified Income ETF
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The iShares Diversified Monthly Income ETF (XTR) provides a consistent monthly cash distribution, with the potential for long-term capital growth by investing in Canadian and US iShares ETFs that provide exposure to a diversified portfolio of income-bearing investments. XTR will invest in a portfolio that is a diversified representation of income-bearing asset classes, including, but not limited to, common equities, fixed income securities and real estate investment trusts and preferred shares.
BlackRock Canada will develop and maintain a strategic asset allocation policy for XTR. The fund will generally rebalance to this allocation on a quarterly basis, but may also do so more frequently if market conditions warrant. The majority of the XTR's investment exposure will be to Canadian securities, but foreign asset classes may also be included as a result of their income properties or diversification benefits.
BlackRock Canada, a wholly-owned subsidiary of BlackRock, Inc., is the trustee, manager, and portfolio advisor of the Fund and is responsible for the day-to-day administration of the Fund. The Fund pays annual management fees to BlackRock Canada as consideration for its services. The Fund has a distribution policy that requires it to distribute sufficient net income and net realized capital gains so that it will not be liable to pay income tax.
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