RBC Target 2022 Corporate Bond Index ETF
RQJ.TO
Toronto Stock Exchange- -
CAD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Canada
- IPO Date
- Sep 14, 2016
- Similar Companies
- Business
- RBC Target 2022 Corporate Bond Index ETF (RQJ.TO) is an exchange-traded fund incorporated in Canada that provides income by replicating, to the extent possible, the performance of the FTSE TMX Canada 20-22 Maturity Corporate Bond Index before fees and expenses. The ETF holds a portfolio consisting primarily of Canadian dollar-denominated investment grade corporate bonds rated BBB or higher by S&P or Baa3 or higher by Moody's, weighted by outstanding issue size, with maturities targeted for 2022; it offers monthly distributions to unitholders and was designed as part of RBC Global Asset Management's target maturity bond ETF suite for defined maturity fixed income exposure. The fund targets Canadian investors seeking regular income from diversified corporate bond holdings, operates in the fixed income segment, and is managed by RBC Global Asset Management Inc., a division of Royal Bank of Canada headquartered at Royal Trust Tower, PO Box 7500, Station A, Toronto, Ontario M5W 1P9, Canada. Launched in September 2011 as part of the initial suite of RBC Target Maturity Corporate Bond ETFs with maturities from 2013 to 2020, the ETF reached its defined termination following portfolio maturation in the 2022 calendar year. In March 2022, RBC Global Asset Management announced the maturity date, followed by final details in November 2022 confirming delisting effective the close of business on Friday, November 25, 2022, after which remaining bond holdings were sold and the net asset value distributed to unitholders. At maturity, the ETF transitioned to cash equivalents with duration converging to zero, providing investors par value redemption similar to individual bonds while maintaining exchange tradability until termination. This event concluded the ETF's limited-period operation, aligning with the strategy of RBC's target maturity series that has since expanded with new vintages up to 2031 across government and corporate bonds in Canada and the U.S.