FMP
TSX
The fund actively manages a portfolio of Canadian government short-term bonds to minimize interest rate and currency risk while holding credit default swaps (CDS) to enhance yields. The CDS provide exposure to a diversified basket of US high yield or non-investment grade issuers. The CDS is believed to benefit the fund by having a central clearing, liquidity, pricing transparency, counterparty assurance, and regulatory oversight. ZFH may invest in the following securities to achieve its objectives: other ETFs, mutual funds or other investment funds and derivatives, such as, indices of CDS, and interest rate swaps.
14.83 CAD
0.04 (0.27%)
EBIT (Operating profit)(Operating income)(Operating earning) = GROSS MARGIN (REVENUE - COGS) - OPERATING EXPENSES (R&D, RENT) EBIT = (1*) (2*) -> operating process (leverage -> interest -> EBT -> tax -> net Income) EBITDA = GROSS MARGIN (REVENUE - COGS) - OPERATING EXPENSES (R&D, RENT) + Depreciation + amortization EBITA = (1*) (2*) (3*) (4*) company's CURRENT operating profitability (i.e., how much profit it makes with its present assets and its operations on the products it produces and sells, as well as providing a proxy for cash flow) -> performance of a company (1*) discounting the effects of interest payments from different forms of financing (by ignoring interest payments), (2*) political jurisdictions (by ignoring tax), collections of assets (by ignoring depreciation of assets), and different takeover histories (by ignoring amortization often stemming from goodwill) (3*) collections of assets (by ignoring depreciation of assets) (4*) different takeover histories (by ignoring amortization often stemming from goodwill)