Institutional Funds

Investment Strategy

The Fund aims to provide exposure to the U.S. equity market by closely matching key attributes of the blended benchmark (85% S&P 500 Hedged Total Return Index – C$, 15% S&P 500 Hedged Price Index – C$). The Fund holds units in the fully replicated TD Emerald U.S. Market Index Fund. Foreign currency exposure is substantially hedged to Canadian dollars utilizing currency forwards. The Fund is managed based on the belief that indexing reduces portfolio risk by investing in a comprehensive range of securities, while lowering costs compared with more active approaches.

Investment Objective

The Fund's objective is to track the performance of a broad based U.S. equity market index that measures the return of large-capitalization U.S. stocks, hedged into Canadian dollars.

Who Should Invest

The Fund is designed for institutional investors seeking cost-effective passive U.S equity exposure without the currency risk.

Fund Facts

Asset Class	US Equity
Management Philosophy	Passive
Inception Date	August 14, 1997
Benchmark	85% S&P 500 Hedged Total Return Index - C$, 15% S&P 500 Hedged Price Index - C$

Details

NAV($) / Yield (%)	13.3264 (As of January 20, 2021)
Distribution Date	December 31, 2020
Income Distribution	0.2888
Capital Distribution	0.3448
Total Distribution	0.6336
AUM (in millions)	94.97 (As of December 31, 2020)
Distribution Frequency	Annual

Performance

	1 M	3 M	YTD	1 Y	2 Y	3 Y	4 Y	5 Y	10 Y	Since Inception
Fund	3.70	11.68	15.30	15.30	22.08	11.83	13.97	13.39	12.82	7.01
Benchmark	3.74	11.68	15.48	15.48	22.28	12.02	14.16	13.56	13.14	7.52

Note: Fund performance is before fees but after expenses

Yearly Performance

	2019	2018	2017	2016	2015
Fund	29.25	-6.15	20.63	11.11	0.56
Benchmark	29.48	-5.98	20.80	11.22	0.91