It is RRSP season and this fits well there. Nice substitute for Canadian Corporate Bonds. It is US investment grade. MER is 0.28% He likes it because it is far more spread over sectors compared to Canadian indexes. This is hedged. Yield is a little over 3%.
(A Top Pick Jan 07/19, Up 12%) They use this in their First Nation Trust accounts where there is more focus on fixed income. It is a US bond aggregate since duration is shorter. It is slightly less interest rate sensitive.
These bonds are triple or higher investment grade. They are 5 to 10 years to maturity and you can clip the extra coupons as you go along. Also you could put half of your allotted funds into ZIC that holds the money in USD.
Zero risk asset meant to take advantage of higher interest rates.
Would hold for low risk investors.