NBI Sustainable Canadian Bond ETF (NSCB)
Important Information
WOWA.ca is an independent information website. We are not affiliated with National Bank Investments or NBI Sustainable Canadian Bond ETF. This page is for general information only and is not investment advice, an offer or a solicitation. Past returns don’t guarantee future results.
- Investment focus:Canadian green, social and sustainability bonds
- Category:Canadian diversified bonds
- Management style:Active
- Managed by:National Bank Investments
- Market data as of:October 30, 2026
With C$2.81 billion in assets, NSCB is the 16th largest of the 42 bond ETFs WOWA tracks. Its management expense ratio (MER) is 0.63%, and over the past 12 months it paid out 3.05% of its unit price in distributions.
Jump to section: Overview • Index • Performance • Distributions • Risks • Fit • Ranking • Compare
AUM
C$2.81B
as of Oct 30, 2026
MER
0.63%
annual cost
Trailing yield
3.05%
past 12 months
1-year return
-1.27%
past 12 months
About NSCB
NBI Sustainable Canadian Bond ETF (NSCB) is a bond ETF from National Bank Investments, launched on March 4, 2020. It is an actively managed Canadian bond fund, run by AlphaFixe Capital, that holds at least 85% in impact bonds whose proceeds fund stated environmental or social projects.
How NSCB is managed
| Fund detail | Value |
|---|---|
| Benchmark | FTSE Canada Universe Bond Index |
| Rebalancing | As needed, at the manager's discretion |
NSCB is measured against the FTSE Canada Universe Bond Index but doesn’t copy it. AlphaFixe Capital, the manager, keeps at least 85% of the fund in green, social and sustainability bonds. The money these bonds raise has to go to a named environmental or social project.
NSCB fund facts
ETF data as of October 30, 2026
Updated weekly| Fund detail | Value |
|---|---|
| Fund basics | |
| Ticker | NSCB |
| Provider | National Bank Investments |
| Inception date | March 4, 2020 |
| Legal structure | Mutual fund trust |
| Management style | Active |
| Portfolio | |
| Bond market | Canada |
| Bond sector | Aggregate |
| Maturity segment | Broad |
| Credit mandate | Investment grade |
| Currency treatment | Canadian-dollar bonds |
| Strategy type | Sustainable impact |
| Number of holdings | 169 (as of July 31, 2026) |
| Costs and distributions | |
| Management fee | 0.55% |
| MER | 0.63% |
| Distribution frequency | Monthly |
| Trailing distribution yield | 3.05% |
| Risk rating (issuer) | Low |
| Size and trading | |
| Assets under management | C$2.81 billion (as of October 30, 2026) |
| Average daily volume | 2,741 units a day (listing exchange) |
NSCB performance
ETF data as of October 30, 2026
Updated weekly| Period | NSCB | Canadian diversified median |
|---|---|---|
| 1 year | -1.27% | -0.41% |
| 3 years, annualized | N/A | 4.86% |
| 5 years, annualized | N/A | 0.70% |
| 10 years, annualized | N/A | 1.44% |
Total returns with distributions reinvested, in CAD, as of October 30, 2026. Category median: the middle value among the funds in the Canadian diversified group with a return for that period (14 funds for one year, 13 for three and five years, 8 for ten years). N/A: no complete return record for the period. Past performance does not predict future results.
NSCB distributions
NSCB pays distributions monthly. Over the 12 months to October 30, 2026, it paid 3.05% of its unit price, its trailing distribution yield. Amounts can change from one payment to the next.
What NSCB’s 2025 distributions were made of
| Component | Share of total |
|---|---|
| Total distribution per unit | $0.8727 |
| Interest and other income | 80.20% |
| Foreign income | 0.60% |
| Capital gains | 19.20% |
- Interest and other income is taxed like employment income in a non-registered account.
- Foreign income is also taxed as regular income. For funds that hold foreign bonds, it is mostly interest from those bonds.
- Capital gains are taxed more lightly than interest.
Inside a TFSA or RRSP, the type of income does not change your tax. Our guide to registered and non-registered accounts explains the trade-offs.
2025 tax-year breakdown reported for the fund. Shares of the total distribution per unit.
Risks to know
National Bank Investments rates NSCB’s risk as low on the standard Canadian fund scale, which runs from low to high. The rating reflects how much the fund’s returns have varied, not the chance that a borrower defaults.
Bond prices fall when interest rates rise. The impact screen narrows the choice of bonds, so returns can depart from the broad Canadian bond market.
- Credit: It holds mostly government and investment-grade company debt, so default risk is low.
- Active management: Results depend on the managers' choices of bonds, maturities and credit, so returns can differ from any benchmark.
- Impact screen: Only bonds that pass its impact screen are eligible, so returns can depart from the broad bond market.
- Trading: Average volume on its listing exchange is about 2,741 units a day, so check the bid-ask spread and use a limit order.
Is NSCB a good fit?
| Good fit if you | Think twice if you |
|---|---|
| want your bond money to fund stated environmental or social projects. | care most about cost: its 0.63% MER is above the Canadian diversified median of 0.10%. |
| want a manager to choose the bonds, maturities and credit mix for you. | may need the money within a year or two: its price can fall noticeably when yields rise. |
| trade large amounts: average volume on its listing exchange is low. |
General pointers based on the fund’s category, structure and costs, not personal advice.
How NSCB ranks
By assets
16th
of 42 bond ETFs
By lowest MER
40th
of 42 bond ETFs
NSCB ranks 16th by assets among the 42 bond ETFs WOWA monitors and 40th by lowest MER, as of October 30, 2026. See the full list of Canadian bond ETFs.
Compare NSCB with similar bond ETFs
NSCB is in the Canadian diversified group on our Best Canadian Bond ETFs page. These are the largest other funds in that group.
ETF data as of October 30, 2026
Updated weekly| Ticker | Exposure and strategy | 5-year return | MER | Trailing yield | AUM (CAD B) |
|---|---|---|---|---|---|
| NSCB | Canadian green, social and sustainability bonds · active | N/A | 0.63% | 3.05% | 2.81 |
| ZAG | Canadian investment-grade government and corporate bonds | 0.64% | 0.09% | 3.45% | 13.24 |
| XBB | Canadian investment-grade government and corporate bonds | 0.70% | 0.10% | 3.52% | 10.94 |
| VAB | Canadian investment-grade government and corporate bonds | 0.66% | 0.08% | 3.42% | 7.76 |
| FCCB | Canadian investment-grade bonds with a corporate tilt | 1.01% | 0.28% | 3.73% | 4.93 |
See all 14 funds in this group.
Other bond ETFs from National Bank Investments
| Fund | Investment focus | AUM | Fund page |
|---|---|---|---|
| NBI Unconstrained Fixed Income ETF (NUBF) | Global bonds of all credit qualities · active | C$2.98B | Learn more |
| NBI High Yield Bond ETF (NHYB) | US high-yield corporate bonds, hedged to CAD · active | C$1.52B |
How to buy NSCB
You can buy NSCB through any Canadian brokerage account, including a TFSA, RRSP or FHSA, by searching for its ticker. When comparing Canadian trading platforms, look at commissions, account fees and currency-conversion costs.
Before you place the order, check the bid-ask spread and consider a limit order, which caps the price you pay but may not fill. If this is your first account, our brokerage account guide walks you through opening one. Buying inside a TFSA? Our guide to the best TFSA investment options covers the other choices for that account.
If you’re from National Bank Investments and would like to add or update information on this page, please contact us.
Returns, volatility, Sharpe ratios, trailing yield and trading volume: WOWA calculations from Yahoo Finance prices adjusted for distributions, as of October 30, 2026. Assets under management: as of October 30, 2026. Fees, risk rating and inception date: National Bank Investments fund documents. Distribution breakdown: 2025 tax year. Fund page: NBI Sustainable Canadian Bond ETF.
Disclaimer: This page is for general information only and is not investment advice. WOWA does not recommend any specific fund. Figures come from issuer and third-party sources, may contain errors and can change after publication, so check the fund’s own documents before you invest.