Last updated: April 30, 2026
How has Wealthsimple Private Credit performed?
Total Return: 24.8%1
Total Return (annualized)1: 7.9%
April Distribution Yield2 : 9.7%
| January | February | March | April | May | June | July | August | September | October | November | December | Total | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Return | 2023 | 0.3%3 | 0.9% | 1.3% | 2.1% | -0.9% | 1.5% | 1.6% | 7.0% | |||||
| 2024 | 0.8% | 0.9% | 0.9% | 1.2% | 1.1% | 0.2% | 0.6% | 0.6% | 1.0% | 0.9% | 0.8% | 1.0% | 10.6% | |
| 2025 | 1.0% | -0.1% | -0.7% | -0.3% | 2.2% | 0.5% | 1.0% | 0.5% | -1.8% | 0.4% | 0.8%* | -0.4%* | 3.1% | |
| 2026 | 0.2% | 0.3% | 0.7% | 1.1% | 2.3% | |||||||||
| Distributions per share | 2023 | $0.2265 | $.077 | $.077 | $0.122 | $0.503 | ||||||||
| 2024 | $.077 | $.077 | $.077 | $.077 | $.077 | $.077 | $.077 | $.077 | $.077 | $.077 | $.077 | $.077 | $0.924 | |
| 2025 | $.077 | $.077 | $.077 | $.077 | $.077 | $.077 | $.077 | $.077 | $.077 | $.077 | $.077 | $.077 | $0.924 | |
| 2026 | $.077 | $.077 | $.077 | $.077 | $0.308 | |||||||||
| NAV per share | 2023 | $10.03 | $10.12 | $10.26 | $10.25 | $10.08 | $10.15 | $10.19 | ||||||
| 2024 | $10.20 | $10.21 | $10.22 | $10.26 | $10.30 | $10.24 | $10.23 | $10.23 | $10.25 | $10.26 | $10.27 | $10.30 | ||
| 2025 | $10.32 | $10.23 | $10.09 | $9.98 | $10.12 | $10.10 | $10.12 | $10.10 | $9.84 | $9.80 | $9.80 | $9.68 | ||
| 2026 | $9.62 | $9.58 | $9.57 | $9.60 |
The Fund returned 1.1% in April, bringing year-to-date performance to 2.3%. Returns were driven primarily by interest income from underlying borrowers, with an additional contribution from price appreciation in several Broadly Syndicated Loans (BSLs) held in the portfolio for liquidity purposes. April's result is notable against the backdrop of negative headlines around private credit in recent months, and we believe the portfolio remains well-positioned to continue delivering consistent income.
Since the fund's inception in June 2023, returns have been 24.8% net of fees.1 while continuing to generate approximately 9% annualized income. This total return reflects two components: income distributed to investors, and changes in the market value of the underlying loans within the portfolio.
The fund distributed $0.077/share in income, representing a 9.7% annualized distribution yield.3
What do these numbers mean?
The yield generally consists of interest payments paid by borrowers. You can think of them almost like dividend payments issued to stockholders. In the case of the Wealthsimple Private Credit Fund, it distributed $0.077 / share in April, which was 0.8% of the fund’s starting value of $9.57. We calculate the yield as if it were paid in each period to quote it on an annualized basis by multiplying it by 12, which indicates an annualized yield of 9.7%. Annualizing is generally the market convention for quoting the yield of financial assets.
The fund value is the market price, or “fair value,” of the loans and any other assets in the fund (e.g. interest that is accrued but not distributed to shareholders). This is similar to owning a stock: its value changes as the market goes up and down.
Notes:
1 The total return is made up of: (i) the change in value of the loan that made up the fund (NAV per share), and (ii) income paid to investors in the form of distributions from each period, with the distribution reinvested. Annualizing the total return is to take the geometric annual average of the total return. Returns shown include all applicable fund management fees and performance fees, but excludes Wealthsimple's standard management fees for its advisory services. Past performance does not guarantee future results.
2 Annualized distribution yield based on $0.077/share, divided by a starting NAV of $9.57, and multiplied by 12. To calculate this rate, we take a partial year distribution and convert it to a full-year amount as if it were paid in each period. We then divide this annualized amount by the fund's value at the start of the period. Distributions are not guaranteed. Past performance does not guarantee future results.
3 The fund was substantially invested in cash for the month of June as the portfolio was established.
* Performance figures for this period include the impact of a voluntary support payment made by the investment fund manager and the underlying manager to the fund. This payment reflects a discretionary reimbursement of certain management, operational, and fund expenses to the fund and was provided to support the fund and investors who remained invested during the period. The support payment was discretionary and non-recurring. There is no assurance that similar support will be provided in future periods. Accordingly, the performance shown for this period may not be indicative of the fund’s future performance or the manager’s future fee or expense practices.
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