A side-by-side comparison of CI Lawrence Park Alternative Investment Grade Credit ETF C$ Series Units (CRED) and Picton Mahoney Fortified Income Alternative Fund ETF (PFIA) to help Canadian investors make an informed decision.
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1-Year Performance
Normalised to 100 at the start — shows relative return over the trailing 12 months.
Head-to-Head Comparison
| Metric | CRED | PFIA |
|---|---|---|
| YTD Return | -0.39%✓ | -1.47% |
| 1-Day Change | 0.00%✓ | -0.10% |
| 1-Week Change | +0.10% | +0.40%✓ |
| 1-Month Change | -0.35% | -0.20%✓ |
| Current Price | $20.19 | $10.04 |
| AUM | $372M | $452M✓ |
| MER (Expense Ratio) | 0% | 0% |
| Dividend Yield | 2.97% | 4.68%✓ |
| Distribution Frequency | — | — |
| Inception Date | 2020-01-23 | 2019-07-12 |
| Holdings Count | 1 | 9 |
| MorningStar Rating | — | — |
| Category | Alternative Credit Focused | Alternative Credit Focused |
| Beta | 0.00 | 0.00 |
| 52-Week High | $20.24 | $10.08 |
| 52-Week Low | $19.56 | $9.57 |
| 50-Day MA | $20.20 | $10.02 |
| 200-Day MA | $20.24 | $10.14 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | CRED | PFIA |
|---|---|---|
| YTD | -0.39%✓ | -1.47% |
| 1 Year | +3.41% | +3.79%✓ |
| 3 Year | +5.45% | +6.03%✓ |
| 5 Year | +2.96% | +3.45%✓ |
| 10 Year | — | — |
| 1Y Volatility | 1.52% | 1.49% |
| Sharpe Ratio (3Y) | 1.02 | 1.23 |
Past performance is not a guarantee of future results.
Top 10 Holdings
| 1 | XCB | iShares Core Canadian Corporate Bond Index ETF | 7.55% |
| 1 | Builders Firstsource, Inc. 6.75% | 3.84% | |
| 2 | iShares iBoxx $ High Yield Corp Bd ETF | 3.67% | |
| 3 | Norbord Inc. 5.75% | 2.78% | |
| 4 | Cleveland-Cliffs Inc 9.88% | 2.73% | |
| 5 | MDC Partners Inc. 6.5% | 2.67% | |
| 6 | Parsley Energy LLC 5.62% | 2.67% | |
| 7 | Videotron LTD/ Videotron LTEE 4.5% | 2.48% | |
| 8 | Standard Chartered plc | 2.38% | |
| 9 | Navistar International Corporation 9.5% | 2.36% |
Sector Weights
| Sector | CRED | PFIA |
|---|---|---|
| Basic Materials | 0.00% | 0.85% |
| Communication Services | 0.00% | 9.91% |
| Consumer Cyclicals | 0.00% | 14.30% |
| Consumer Defensive | 0.00% | 3.07% |
| Energy | 0.00% | 1.63% |
| Financial Services | 0.00% | 14.17% |
| Healthcare | 0.00% | 10.93% |
| Industrials | 0.00% | 16.91% |
| Real Estate | 0.00% | 1.36% |
| Technology | 0.00% | 26.24% |
| Utilities | 0.00% | 0.61% |
About CRED
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About PFIA
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Which ETF is Right for You?
Both CRED and PFIA are listed on Canadian exchanges and accessible through most Canadian brokerages including Questrade, Wealthsimple Trade, TD Direct, and Interactive Brokers.
Based on the available data, PFIA scores higher across our tracked metrics including YTD performance, dividend yield, and AUM — though both ETFs warrant individual research before investing.
- Consider your account type (TFSA, RRSP, non-registered) as it can affect dividend taxation.
- Compare management expense ratios (MER) directly on each provider's website.
- Look at average daily trading volume to assess liquidity.
- Review the fund's underlying index and holdings to ensure the exposure matches your goals.
This is not financial advice. Always do your own research or consult a licensed financial advisor before investing.
Frequently Asked Questions
What is the difference between CRED and PFIA?
CRED (CI Lawrence Park Alternative Investment Grade Credit ETF C$ Series Units) and PFIA (Picton Mahoney Fortified Income Alternative Fund ETF) are both Canadian-listed ETFs. Key differences include their AUM ($372M vs $452M), dividend yield (2.97% vs 4.68%), and year-to-date performance (-0.39% vs -1.47%).
Is CRED better than PFIA?
There is no single "better" ETF — it depends on your investment goals. If you prioritise recent performance, CRED has outperformed year-to-date. Always review the fund's prospectus and consider your tax situation.
Can I buy CRED and PFIA on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both CRED and PFIA should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
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