Question 1

What is PFAA?

Accepted Answer

PFAA — Picton Mahoney Fortified Alpha Alternative Fund ETF — is a Canadian-listed ETF trading on the TSX. NA

Question 2

What is the PFAA ETF price today?

Accepted Answer

PFAA last traded at $12.17 CAD on the TSX. See the price chart above for recent performance.

Question 3

What is the PFAA MER (management expense ratio)?

Accepted Answer

PFAA has a management expense ratio (MER) of 0% per year. This fee is automatically deducted from the fund's assets, so you never pay it directly — but it does reduce your net returns over time. At 0%, PFAA is considered a low-cost ETF.

Question 4

What are PFAA annualised returns?

Accepted Answer

PFAA historical returns: YTD: -0.81%, 1-year: +2.64%, 3-year annualised: +7.32%. Past performance is not a guarantee of future results. The 3-year Sharpe ratio is 1.90, which measures risk-adjusted return.

Question 5

Does PFAA pay dividends or distributions?

Accepted Answer

Yes, PFAA distributes income to unitholders. The current distribution yield is approximately 2.27%, paid monthly. Distributions may include dividends, interest, capital gains, or return of capital depending on the fund's holdings. In a TFSA or RRSP, distributions are sheltered from tax.

Question 6

What does PFAA invest in?

Accepted Answer

PFAA's top holdings include iShares Core S&P/TSX Capped Composite (XIC, 9.3%), iShares Core S&P 500 ETF (IVV, 9.3%), iShares S&P/TSX 60 (XIU, 5.7%), Royal Bank of Canada (RY, 2.4%), iShares MSCI USA Momentum Factor ETF (MTUM, 1.7%) — and 1 more positions. See the full Top 10 Holdings table above for a complete breakdown. The fund tracks the Morningstar CAD O/N Cash GR CAD.

Question 7

What sectors does PFAA invest in?

Accepted Answer

PFAA's largest sector exposures are Financial Services (26.8%), Technology (12.7%), Basic Materials (11.5%). The full sector breakdown is shown in the Sector Weights table on this page.

Question 8

How large is PFAA? (Assets under management)

Accepted Answer

PFAA has approximately $362M in assets under management (AUM). Larger AUM generally means better liquidity, tighter bid-ask spreads, and a lower risk of the fund being wound down.

Question 9

When was PFAA launched?

Accepted Answer

PFAA was launched on May 9, 2022, giving it a 4-year track record. A longer history makes it easier to evaluate how the ETF performs across different market cycles.

Question 10

How do I buy PFAA in Canada?

Accepted Answer

PFAA trades on the TSX under the ticker PFAA. You can buy it through any Canadian brokerage, including Wealthsimple Trade (commission-free), Questrade, TD Direct Investing, RBC Direct, and CIBC Investor's Edge. It can be held in a TFSA, RRSP, FHSA, or taxable account.

Question 11

How risky is PFAA?

Accepted Answer

PFAA has a 1-year volatility of 2.37% and a beta of 0.00 (less volatile than the broad market). Its 3-year Sharpe ratio of 1.90 indicates solid risk-adjusted returns. As with all market-linked investments, past volatility does not predict future risk.

Date	Open	High	Low	Close	Adj Close	Volume
2026-08-20	$12.16	$12.17	$12.15	$12.17	$12.17	17,910
2026-08-19	$12.21	$12.21	$12.18	$12.21	$12.21	18,440
2026-08-18	$12.20	$12.22	$12.20	$12.21	$12.21	13,150
2026-08-17	$12.19	$12.20	$12.19	$12.20	$12.20	1,269
2026-08-14	$12.18	$12.18	$12.17	$12.18	$12.18	3,207
2026-08-13	$12.20	$12.20	$12.16	$12.19	$12.19	8,925
2026-08-12	$12.17	$12.18	$12.16	$12.18	$12.18	8,301
2026-08-11	$12.14	$12.14	$12.14	$12.14	$12.14	681
2026-08-10	$12.15	$12.15	$12.13	$12.14	$12.14	25,410
2026-08-07	$12.19	$12.23	$12.17	$12.17	$12.17	46,743

Sector	Weight
Financial Services	26.77%
Technology	12.67%
Basic Materials	11.53%
Industrials	10.72%
Energy	9.40%
Consumer Cyclicals	7.90%
Healthcare	5.07%
Communication Services	4.53%
Utilities	4.15%
Real Estate	3.84%
Consumer Defensive	3.40%

Ticker	Name	Price	1D
QETH-U		$34.97	+23.70%
ETHQ-U		$8.92	+21.53%
COIU		$4.79	+15.98%
XRPP-U	Purpose XRP ETF USD ETF Currency Non-Hedged Units	$5.59	+15.98%
XRPP-B	Purpose Investments Inc - Purpose XRP ETF	$5.64	+15.57%
XRPQ		$7.66	+15.36%
XRPP		$5.38	+15.34%
MSTU		$4.76	+15.25%

CIBC Investor's Edge

Picton Mahoney Fortified Alpha Alternative Fund ETF (PFAA : TSX)

Price Chart (30 Days)

Key Statistics

Recent Price History

Annualised Returns

Top 10 Holdings

Sector Weights

About Picton Mahoney Fortified Alpha Alternative Fund ETF

ETF Details

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Frequently Asked Questions — PFAA