Glossary
Adjusted Cost Base or ACB The average cost per unit of an investor’s shares.
AECO Alberta Energy Company, a storage and exchange point for Canadian natural gas located in Alberta. The majority of transactions occur at this point.
Alpha The excess return of the fund, adjusted for risk, relative to the return of a benchmark.
Beta The measure of an equity or portfolio’s historical volatility compared to the market as a whole over a given period. It is a tool investors can use to assess the risk profile of potential investments, relative to the overall market.
Current Yield The most recently reported monthly or quarterly per unit or common share distribution or dividend for that issuer multiplied by 12 in the case of issuers that make monthly distributions or dividends and by four in the case of issuers that make quarterly distributions or dividends and divided by the closing price per unit or common share of such issuer on such date.
Distribution Date The date on which cash distributions are paid by the Trust, which is the 15th day after the applicable Record Date or, if such day is not a Business Day, the next Business Day.
DRIP The distribution reinvestment plan pursuant to which Unitholders resident in Canada may elect to have all of their cash distributions invested in additional Canoe Units.
Ex-Distribution Date The day on or after which new units purchased will not receive that month’s distribution.
Intrinsic Value The amount by which the market price of an underlying security exceeds the subscription price of the warrant related to that security.
Net Asset Value or NAV The net asset value of the Trust, as determined by subtracting the aggregate amount of the liabilities of the Trust from the Total Assets and as more particularly set forth in the Declaration of Trust.
Nymex New York Mercantile Exchange, the largest physical commodity futures exchange.
Oil and Gas Issuers Issuers structured either as: (a) a trust, fund, partnership or similar issuer owning the debt and/or equity of an underlying entity involved in the development, mining, acquisition, transportation, production and sale of oil and natural gas; or (b) a trust, fund, partnership or similar issuer owning a royalty in the revenues generated by the production and sale of oil and natural gas reserves; or (c) a corporation, or similar issuer, which is involved in the exploration, development, mining, acquisition, transportation, production and sale of oil and natural gas; provided that the determination by the Administrator that an issuer of securities is an Oil and Gas Issuer is conclusive for all purposes herein.
Oil Sands Related Issuers Issuers whose business is directly or indirectly related to the acquisition, mining, development, extraction, processing, production, marketing, transportation, supply and sale of products and resources from the Oil Sands, as well as suppliers to Oil Sands projects who derive a portion of their revenue and net earnings from sales of products or provision of services to issuers participating in Oil Sands projects in Canada; provided that the determination by the Administrator that an issuer of securities is an Oil Sands Related Issuer is conclusive for all purposes herein.
Record Date The last Business Day of each month.
REITs Real Estate Investment Trusts.
Taxable Capital Gain A realized capital gain upon the disposition of an Canoe Unit, upon which a Unitholder will be required to include in computing the Unitholder's income one-half of any such capital gain.
Time Value The market’s view of the potential for a warrant to become “in the money” prior to expiry. The longer the time period until expiry, and the more volatile the underlying security, the higher the time value will be.
Total Assets The aggregate value of the assets of the Trust as determined in accordance with the terms of the Declaration of Trust.
VIX or Volatility Index The Chicago Board Options Exchange Market Volatility Index (symbol: VIX) is a popular measure of the implied volatility of S&P 500 index options. It represents one measure of the market's expectation of stock market volatility over the next 30 day period.
Warrant A security that gives the holder the right to purchase securities from the issuer at a specified price within a certain time frame.
WCS Western Canadian Select, a heavy crude oil benchmark.
WTI West Texas Intermediate, a crude oil benchmark.