Perspective
Video
November 12, 2025
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Minimizing Tax Drag (Part 2)
Our Search for Low Coupons Across the Entire Public Market
Minimizing Tax Drag (Part 2)
Minimizing Tax Drag (Part 2)

Any tax-conscious investor should be transfixed by the opportunities (and pitfalls) in fixed income. This is our account of the landscape.

Read Disclaimer

This video is not intended for public use or distribution. There can be no guarantee that any projection, forecast, or opinion will be realized. All information provided is for informational purposes only and should not be construed as investment advice. Users of these materials are advised to conduct their own analysis prior to making any investment decision. Ewing Morris does not currently own any of the discussed securities at the time of publishing. This video relied upon the tax rates in Ontario, Canada as of the 2025 tax year. Individual tax rates may vary from those presented in the video. Viewers should consult with their tax advisor on the tax rate that is applicable to their individual circumstances. The market and industry data presented in this video was obtained from third party sources believed to be reliable. This data is subject to change. In addition, this video does not purport to be all-inclusive or contain all of the information that may be required to make a full analysis of the securities discussed or an investment opportunity. Recipients of this video should make their own evaluation and of the relevance and adequacy of the information contained herein and should make such other investigations as they deem necessary. Sources include: Bloomberg, Ewing Morris, Canada Revenue Agency and the Ontario Ministry of Finance.

Ewing Morris has owned positions in the Everbridge 0% Notes due 2026, Upwork 0.25% Notes due 2026, Unity Software 0% Notes due 2026, and TechTarget 0% Notes due 2026. Ewing Morris ceased to own positions in Everbridge, Techtarget and Upwork notes prior to the date of this publication. Any corporate actions referenced in connection with these securities are presented for illustrative purposes only and are not specific to Ewing Morris' investment positions.  Ewing Morris does do not represent that it received the benefit of all the events discussed herein, and past results with respect to any security mentioned are not indicative of future performance.

Text Link

Any tax-conscious investor should be transfixed by the opportunities (and pitfalls) in fixed income. This is our account of the landscape.

Read Disclaimer

This video is not intended for public use or distribution. There can be no guarantee that any projection, forecast, or opinion will be realized. All information provided is for informational purposes only and should not be construed as investment advice. Users of these materials are advised to conduct their own analysis prior to making any investment decision. Ewing Morris does not currently own any of the discussed securities at the time of publishing. This video relied upon the tax rates in Ontario, Canada as of the 2025 tax year. Individual tax rates may vary from those presented in the video. Viewers should consult with their tax advisor on the tax rate that is applicable to their individual circumstances. The market and industry data presented in this video was obtained from third party sources believed to be reliable. This data is subject to change. In addition, this video does not purport to be all-inclusive or contain all of the information that may be required to make a full analysis of the securities discussed or an investment opportunity. Recipients of this video should make their own evaluation and of the relevance and adequacy of the information contained herein and should make such other investigations as they deem necessary. Sources include: Bloomberg, Ewing Morris, Canada Revenue Agency and the Ontario Ministry of Finance.

Ewing Morris has owned positions in the Everbridge 0% Notes due 2026, Upwork 0.25% Notes due 2026, Unity Software 0% Notes due 2026, and TechTarget 0% Notes due 2026. Ewing Morris ceased to own positions in Everbridge, Techtarget and Upwork notes prior to the date of this publication. Any corporate actions referenced in connection with these securities are presented for illustrative purposes only and are not specific to Ewing Morris' investment positions.  Ewing Morris does do not represent that it received the benefit of all the events discussed herein, and past results with respect to any security mentioned are not indicative of future performance.

Minimizing Tax Drag (Part 2)
Minimizing Tax Drag (Part 2)

Any tax-conscious investor should be transfixed by the opportunities (and pitfalls) in fixed income. This is our account of the landscape.

Read Disclaimer

This video is not intended for public use or distribution. There can be no guarantee that any projection, forecast, or opinion will be realized. All information provided is for informational purposes only and should not be construed as investment advice. Users of these materials are advised to conduct their own analysis prior to making any investment decision. Ewing Morris does not currently own any of the discussed securities at the time of publishing. This video relied upon the tax rates in Ontario, Canada as of the 2025 tax year. Individual tax rates may vary from those presented in the video. Viewers should consult with their tax advisor on the tax rate that is applicable to their individual circumstances. The market and industry data presented in this video was obtained from third party sources believed to be reliable. This data is subject to change. In addition, this video does not purport to be all-inclusive or contain all of the information that may be required to make a full analysis of the securities discussed or an investment opportunity. Recipients of this video should make their own evaluation and of the relevance and adequacy of the information contained herein and should make such other investigations as they deem necessary. Sources include: Bloomberg, Ewing Morris, Canada Revenue Agency and the Ontario Ministry of Finance.

Ewing Morris has owned positions in the Everbridge 0% Notes due 2026, Upwork 0.25% Notes due 2026, Unity Software 0% Notes due 2026, and TechTarget 0% Notes due 2026. Ewing Morris ceased to own positions in Everbridge, Techtarget and Upwork notes prior to the date of this publication. Any corporate actions referenced in connection with these securities are presented for illustrative purposes only and are not specific to Ewing Morris' investment positions.  Ewing Morris does do not represent that it received the benefit of all the events discussed herein, and past results with respect to any security mentioned are not indicative of future performance.

Text Link

Any tax-conscious investor should be transfixed by the opportunities (and pitfalls) in fixed income. This is our account of the landscape.

Read Disclaimer

This video is not intended for public use or distribution. There can be no guarantee that any projection, forecast, or opinion will be realized. All information provided is for informational purposes only and should not be construed as investment advice. Users of these materials are advised to conduct their own analysis prior to making any investment decision. Ewing Morris does not currently own any of the discussed securities at the time of publishing. This video relied upon the tax rates in Ontario, Canada as of the 2025 tax year. Individual tax rates may vary from those presented in the video. Viewers should consult with their tax advisor on the tax rate that is applicable to their individual circumstances. The market and industry data presented in this video was obtained from third party sources believed to be reliable. This data is subject to change. In addition, this video does not purport to be all-inclusive or contain all of the information that may be required to make a full analysis of the securities discussed or an investment opportunity. Recipients of this video should make their own evaluation and of the relevance and adequacy of the information contained herein and should make such other investigations as they deem necessary. Sources include: Bloomberg, Ewing Morris, Canada Revenue Agency and the Ontario Ministry of Finance.

Ewing Morris has owned positions in the Everbridge 0% Notes due 2026, Upwork 0.25% Notes due 2026, Unity Software 0% Notes due 2026, and TechTarget 0% Notes due 2026. Ewing Morris ceased to own positions in Everbridge, Techtarget and Upwork notes prior to the date of this publication. Any corporate actions referenced in connection with these securities are presented for illustrative purposes only and are not specific to Ewing Morris' investment positions.  Ewing Morris does do not represent that it received the benefit of all the events discussed herein, and past results with respect to any security mentioned are not indicative of future performance.

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