Dynamic Active International Dividend ETF

The fund aims to provide income and long-term capital appreciation by actively managing a narrow portfolio of dividend-paying companies doing business primarily outside of North America. The concentrated portfolio is composed of 30 to 40 different stocks that are at a discount relative to their intrinsic value. Stocks may be sold when investment fundamentals, including valuation parameters, are no longer prudent in the opinion of the manager. Tax efficiency is also part of DXWs strategy, so the fund is intended to be held for the longer term. The fund has no restriction to country, sector, or market capitalization, except for the exclusion of North American issuers. Any foreign currency exposure may be hedged back to the Canadian dollar at the discretion of the portfolio manager. DXW may also invest in non-dividend or non-distribution-paying equities.