TD Canadian Long Term Federal Bond ETF
TCLB.TO
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- TD Canadian Long Term Federal Bond ETF (TCLB.TO) is an exchange-traded fund managed by TD Asset Management Inc., a wholly-owned subsidiary of The Toronto-Dominion Bank, that seeks to provide a high rate of interest income by investing primarily in longer-dated Government of Canada bonds with maturities generally exceeding 10 years and an overall target duration of approximately 15 years; it employs an actively managed, optimized portfolio approach focusing on semi-annual pay fixed-rate federal bonds, with occasional inclusion of securities maturing in 7-10 years for liquidity and portfolio benefits; the fund rebalances quarterly to maintain its duration target and distributes income quarterly to unitholders. Launched on November 19, 2019, and listed on the Toronto Stock Exchange, TCLB operates within the Canadian fixed-income segment, targeting conservative investors, institutions, and those seeking low-risk exposure to government debt for income generation and portfolio diversification amid interest rate fluctuations; it holds assets under management of approximately C$872 million as of mid-2025, with a management expense ratio of 0.23%. Geographically, the fund focuses exclusively on Canadian federal government securities and serves investors across Canada. Recent developments include a unit consolidation on a 1:6 basis as of March 31, 2022, to adjust share structure; increased quarterly distributions to C$0.910 per unit starting in late 2024 and continuing through 2025, reflecting a 17.64% dividend growth over the past year and a current yield of about 3.09%; and ongoing ETF distribution announcements, such as the September 2025 payout managed by TDAM amid its broader C$504 billion in assets under administration as of June 30, 2025.