Snoopy said
"Under 'Portfolio Characteristics', the fund yield is listed as 5.59%. If I look at the portfolio constituents from post 14, there is only one bond with a coupon rate greater than that: Meridian Energy's 5.91% bond. This indicates to me that the capital value of those lower interest rate bonds must have been marked down."

I agree and it is very perceptive of you to have thought of it.

Still a problem of why the div yield which they actually pay is so much below the fund yield which is anything they choose to say it is. Perhaps div yield is so low because they've cleverly had a lot of money mature at just the right time to catch the higher rates and the next dividend is going to be ENORMOUS, only hardly anybody knows. Seems to me to be a lack of information about this. I thought markets were supposed to be informed. Haven't digested the rest, anything over an inch and a half takes me a while.