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 $12.28 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: +0.08%, 1-year: +3.68%, 3-year annualised: +8.02%. Past performance is not a guarantee of future results. The 3-year Sharpe ratio is 2.03, 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 1.80%, 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 XIC (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 (28.1%), Technology (14.4%), Industrials (10.7%). 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 1.93% and a beta of 0.00 (less volatile than the broad market). Its 3-year Sharpe ratio of 2.03 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
2026-07-02	$12.28	$12.28	$12.27	$12.28	$12.28	24,445
2026-06-30	$12.28	$12.33	$12.28	$12.33	$12.33	8,900
2026-06-29	$12.28	$12.32	$12.28	$12.31	$12.31	11,164
2026-06-26	$12.26	$12.31	$12.26	$12.31	$12.31	14,800
2026-06-25	$12.29	$12.30	$12.28	$12.30	$12.30	4,984
2026-06-24	$12.27	$12.27	$12.26	$12.26	$12.26	3,801
2026-06-23	$12.12	$12.28	$12.12	$12.28	$12.28	10,071
2026-06-22	$12.26	$12.28	$12.26	$12.28	$12.28	4,526
2026-06-19	$12.30	$12.33	$12.29	$12.33	$12.33	1,003
2026-06-18	$12.30	$12.30	$12.28	$12.29	$12.29	11,396

Sector	Weight
Financial Services	28.09%
Technology	14.42%
Industrials	10.74%
Basic Materials	10.20%
Consumer Cyclicals	7.65%
Energy	7.59%
Healthcare	5.63%
Communication Services	4.69%
Real Estate	4.09%
Utilities	3.97%
Consumer Defensive	2.92%

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

CIBC Investor's Edge

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