Dynamic Funds announces completion of fund changes, and July 2025 cash distributions for Dynamic Active ETFs and ETF series units

TORONTO, July 21, 2025 /CNW/ - 1832 Asset Management L.P., as manager of Dynamic Funds (the "Manager"), today announced it has terminated Dynamic Active Energy Evolution ETF and completed the merger of Dynamic Active Retirement Income ETF into Dynamic Retirement Income Fund.

Termination of Dynamic Active Energy Evolution ETF

On March 18, 2025, the Manager announced its intention to terminate Dynamic Active Energy Evolution ETF. The ETF was delisted from the Toronto Stock Exchange ("TSX") following market close on July 15, 2025, and subsequently terminated effective July 18, 2025 (the "Termination Date").

Unitholders of record on the Termination Date will receive final payments from the liquidation of the assets of the ETF, net of all liabilities and expenses, on or about July 23, 2025, without any further action required by those unitholders. The proceeds will consist of the final cash distribution payable to unitholders immediately prior to the termination of the ETF and the final proceeds on the redemption of units held by unitholders.

The final distribution and proceeds per unit of the ETF are as follows:

ETF Name

Ticker Symbol

(TSX)

Final Distribution

per Unit ($CAD)

Final Proceeds per

Unit ($CAD)

Total NAV per

Unit ($CAD)

Dynamic Active

Energy Evolution 

ETF

DXET

0.04208

18.79240

18.83448

Merger of Dynamic Active Retirement Income ETF into Dynamic Retirement Income Fund

On March 18, 2025, the Manager announced the merger of Dynamic Active Retirement Income ETF  (the "Terminating ETF") into Dynamic Retirement Income Fund (the "Continuing Fund"). The merger was completed after the close of business on July 18, 2025 (the "Merger Date").  

The units of the Terminating ETF were exchanged for ETF series units ("ETF Units") of the Continuing Fund and the units of the Terminating ETF were delisted from the TSX following market close on July 18, 2025. Today, the ETF Units of the Continuing Fund will be substitutionally listed on the TSX under the same ticker.

The Terminating ETF transferred all of its net assets to the Continuing Fund in exchange for ETF Units of the Continuing Fund having an aggregate net asset value equal to the value of the assets transferred to the Continuing Fund. Immediately thereafter, the Terminating ETF redeemed all of its outstanding units in exchange for ETF Units of the Continuing Fund on a one-for-one basis. This resulted in each unitholder of the Terminating ETF receiving the exact same number of ETF Units of the Continuing Fund it held in the Terminating ETF prior to the merger. The merger occurred on a tax-deferred basis.

Terminating ETF

Continuing Fund

Ticker Symbol(TSX)

ExchangeRatio

Dynamic Active Retirement

Income ETF

Dynamic Retirement

Income Fund 

DXR

1:1

As a result of the merger, the Continuing Fund now offers both mutual fund series units and ETF Units. The investment objective, risk rating, and the portfolio management team for the Continuing Fund remain unchanged. No actions are required by unitholders.

Related distributions

In connection with the merger, unitholders of record in the Terminating ETF on July 18, 2025 received the final distributions shown in the following table. The final distributions were reinvested in additional units of the Terminating ETF and do not include any cash distribution amounts. The additional units were immediately consolidated so that the number of units held by each unitholder following the distribution will equal the number of units held by the unitholder prior to the distribution.

Terminating ETF

Ticker Symbol (TSX)

Final Reinvested

Distribution  per Unit

($CAD)

Dynamic Active Retirement Income ETF

DXR

$0.04324

July 2025 cash distributions for Dynamic Active ETFs and ETF Units

Dynamic Funds today announced the July 2025 cash distributions for the Dynamic Active ETFs and ETF Units of certain Dynamic Funds listed on the TSX, which pay on a monthly basis. Unitholders of record on July 28, 2025 will receive cash distributions for the respective Dynamic Active ETFs and ETF Units payable on July 31, 2025. The details of the cash distribution amounts per unit are as follows:

Dynamic Active ETF

Ticker

symbol (TSX)

Cash

distribution

per unit

($CAD)

Distribution

frequency

Dynamic Active Bond ETF

DXBB

0.070

Monthly

Dynamic Active Canadian Bond ETF

DXBC

0.065

Monthly

Dynamic Active Canadian Dividend ETF

DXC

0.082

Monthly

Dynamic Active Corporate Bond ETF

DXCB

0.077

Monthly

Dynamic Active Crossover Bond ETF

DXO

0.091

Monthly

Dynamic Active Discount Bond ETF

DXDB

0.075

Monthly

Dynamic Active Enhanced Yield Covered Options ETF

DXQ

0.162

Monthly

Dynamic Active Global Equity Income ETF

DXGE

0.050

Monthly

Dynamic Active International Dividend ETF

DXW

0.054

Monthly

Dynamic Active Ultra Short Term Bond ETF

DXV

0.053

Monthly

Dynamic Active Preferred Shares ETF

DXP

0.097

Monthly

Dynamic Active Tactical Bond ETF

DXB

0.064

Monthly

Dynamic Active U.S. Investment Grade Corporate Bond ETF

DXBU

0.101

Monthly

Dynamic Credit Opportunities Fund

DXCO

0.127

Monthly

Dynamic Global Fixed Income Fund

DXBG

0.085

Monthly

Dynamic Retirement Income Fund

DXR

0.087

Monthly

Dynamic Short Term Credit PLUS Fund

DXCP

0.095

Monthly

Commissions, trailing commissions, management fees and expenses may be associated with mutual fund investments, including exchange-traded funds (ETFs). Please read the prospectus before investing. The securities held by an ETF can change at any time without notice. Mutual funds and ETFs are not guaranteed, their values change frequently, and past performance may not be repeated. For more information about Dynamic Funds, please visit the Dynamic Funds

About Dynamic Funds

Dynamic Funds is a division of 1832 Asset Management L.P., which offers a range of wealth management solutions, including mutual funds, actively managed ETFs, liquid alternative mutual funds and investment solutions for private clients, institutions and managed asset programs. 1832 Asset Management L.P. is a limited partnership, the general partner of which is wholly owned by Scotiabank. Dynamic Funds® is a registered trademark of The Bank of Nova Scotia, used under license by 1832 Asset Management L.P

© Copyright 2025 The Bank of Nova Scotia. All rights reserved.

Website: www.dynamic.ca |Twitter: @DynamicFunds | LinkedIn: https://www.linkedin.com/company/dynamic-funds/

SOURCE Dynamic Funds