CIBC Act. Invest. Grade Corp. Bond ETF (CACB.TO)

ZMI gives more more diversified exposure (stocks with covered calls, high dividends, prefs, fixed incomes). CACB is corporate bonds, which he doesn't recommend now. The equity component of ZMI gives value for 2026.  

A fine ETF that provides better returns that an index-based, corporate bond ETF. But in 2022, it performed badly. Corporate bond spreads are right now. You want the yield, but not the credit risk. So, if the economy is struggling and stocks falling, corporate bonds underperform government ones. There are not government bonds of high grade in Canada or the US paying enough yield unless you take a lot of interest rate risk. He likes the long end of the treasury curve, if we enter a hard economic landing to protect against weaker stock markets rather than an actively managed corporate bond fund. 

Charges a reasonable MER with along track record. It hold quality fixed income. Will give you 4.5% yields, not super, but reasonable.