Big 6 High-Interest Cash Funds/Accts [4.25% - 3.25%] [CAD/USD] [CDIC: Yes!] [i.e. HISAs for the discerning saver/client]

mike20002019 wrote: ↑ I will report this by early next month here.

Just wondering if someone can do a try test on money market mutual fund. I sold DYN6000 and bought CIB237 (money market fund) because of CIB237 has a higher return (4.5%). I am wondering if the similar interest payout will be the same as DYN6000?

In the CIB237 document, it says "strives to maintain a NAV per unit of $10 by allocating income daily and distributing it monthly...", "The Fund allocates net income daily and distributes it monthly". It does not use "accrue" wording here like ISA. If it is same, for CIB237, you may see some amount of CIB237 will show up again in the beginning of next month after you sell it.

mike20002019 wrote: ↑ I will report this by early next month here.

Just wondering if someone can do a try test on money market mutual fund. I sold DYN6000 and bought CIB237 (money market fund) because of CIB237 has a higher return (4.5%). I am wondering if the similar interest payout will be the same as DYN6000?

In the CIB237 document, it says "strives to maintain a NAV per unit of $10 by allocating income daily and distributing it monthly...", "The Fund allocates net income daily and distributes it monthly". It does not use "accrue" wording here like ISA. If it is same, for CIB237, you may see some amount of CIB237 will show up again in the beginning of next month after you sell it.

frugal1 wrote: ↑ Is the 4.5% that you are getting after you discount the MER for CIB237? There are no fees associated with DYN6000 - what you see as the posted rate for DYN6000 is what you get.

mike20002019 wrote: ↑ For CIB237 yield, I am using the number from my broker account information. My broker does not have the DYN6000 info, I am using the OP link, https://ads.scotiabank.com/ADS/Download/980/en. It says 4.10 to 4.15.

frugal1 wrote: ↑ Thanks! Sorry for the confusion - I realized that I was looking at the yield for the F-Series Premium (CIB238) yielding 4.59% and was wondering if you were deducting the MER! I now see that the plain vanilla F-Series (CIB327) is yielding 4.53%. I'm relying on the information on the CIBC website: https://www.cibc.com/en/personal-bankin ... funds.html.

I haven't looked at money market funds for ages as at one point some had negative returns. Of course, these money market funds are very different from what's being discussed in this thread, but it's a good reminder that there's are other savings options for those who want to take a little bit more risk. I'm no expert, but I think money market funds would even be considered riskier than high interest savings ETFs, such as PSA, CSAV, CASH, etc., which have a separate threat also created by @ADenariusSaved. Those ETFs seem to yield just slightly more than CIB327.

sapulous wrote: ↑ If anyone is using or plans to use Scotia iTrade, be aware of the Low Activity Account Administration Fee stipulations and exceptions:
https://www.scotiaitrade.com/en/home/pricing-fees.html (administration fee, see point #2 at the bottom).

savemoresaveoften wrote: ↑ It’s under the mutual fund section under trading.

savemoresaveoften wrote: ↑ Takes 2 days. IE allows dyn6000, can’t do dyn6004. You will be fine,

frugal1 wrote: ↑ Thanks! Sorry for the confusion - I realized that I was looking at the yield for the F-Series Premium (CIB238) yielding 4.59% and was wondering if you were deducting the MER! I now see that the plain vanilla F-Series (CIB327) is yielding 4.53%. I'm relying on the information on the CIBC website: https://www.cibc.com/en/personal-bankin ... funds.html.
...

cheapshopper wrote: ↑ I saw DYN6004, does it mean I can only see it but can't actually buy it?

jbr439 wrote: ↑ In the table in the above CIBC link, anyone know how to definitively tie the name of the fund, e.g., CIBC Money Market Fund - Class F Units (with it's accompanying performance yields) to its symbol, CIB237?
Seems to me that the publicly available table should really include the symbol of the fund, like Scotiabank does here.

savemoresaveoften wrote: ↑ when you try to place the order, it will tell u its not available.

I think only Itrade (scotia) customers and full service advisors have access to the dyn6004.

ADenariusSaved wrote: ↑ These are bank products offered to (theoretically) bank clients. It is basically like a bank mutual fund without the fees, in the case of DYN6004.

ADenariusSaved wrote: ↑ True, they are bought and sold like mutual funds and that's where the similarities end. I should have contextualized that.
Do bond mutual funds and ETFs distribute dividends or interest? I never put those in my taxable so I dunno, actually, I don't even mess with bonds at all...