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In this article, we will review the best Canadian index ETFs. I have only selected the most popular ETFs in Canada with a minimum asset under management of 3 billion dollars. First, we will go over some definitions, the pros and cons of holding an index ETF. After that, we will compare the selected ETFs to help you identify the best ETF in 2024 that meets your expectations. Note: if you are looking for the best index ETFs that replicate the performance of the American stock exchanges, please refer to this article: Best S&P 500 Index ETFs in Canada.

Is an index ETF the best choice for investors?

Index funds are a popular choice for investors due to their simplicity, low cost, and overall solid performance. Here are a few reasons why investors often choose to invest in index funds:

Diversification: Index funds are designed to track a specific market index, such as the S&P 500 or the Dow Jones Industrial Average. This means the fund’s portfolio is diversified and includes stocks from many different companies, spread across various sectors and industries.

Low management fees: Index funds are generally cheaper to manage than actively managed funds, as they require less research and analysis. This results in lower management fees, meaning investors can keep a larger portion of their returns.

Solid performance: Although index funds don’t necessarily beat the market, they tend to closely follow the performance of the index they track. Therefore, investors can benefit from market growth without having to worry about picking the right individual stocks. It’s also worth mentioning that it’s rare for active fund managers to beat the index!

Accessibility: Index funds are easily accessible to investors of all levels, from beginners to experienced investors. They can be purchased through an online broker, a financial advisor, or even directly from the fund management company.

Does a TSX Index fund pay dividend?

Yes they do. Since Index ETFs holds all shares of companies part of the index, if these companies pay dividends then a dividend will be distributed. See below the performance table, the dividend yield is included.

Index definition

The S&P/TSX Capped Composite Index

is a comprehensive measure of the Canadian equities market, encompassing over 200 of Canada’s highest-ranking stocks. This wide-ranging index covers approximately 95% of the nation’s equity market by capitalization. To be included and remain in the Index, constituent securities must meet specific criteria, including minimum requirements for float-adjusted market capitalization and liquidity. To ensure diversification and minimize concentration risk, individual stock weights are limited to a maximum of 10% of the Index’s total float-adjusted market capitalization. These weightings are evaluated and adjusted on a quarterly basis to reflect market changes.

The S&P/TSX 60 Index

focuses on the 60 largest and most influential companies listed on the Toronto Stock Exchange (TSX). By including only the top-tier companies, the S&P/TSX 60 offers investors a snapshot of the health and performance of Canada’s leading corporate entities, spanning various industries.

The FTSE Canada All Cap Index

provides a broad perspective on the Canadian market by including large-, mid-, and small-cap companies. As a market-capitalization-weighted index, it reflects the performance of a wide spectrum of Canadian businesses, offering a comprehensive view of the country’s economic landscape. This inclusivity makes the FTSE Canada All Cap Index a valuable tool for investors seeking exposure to the entire Canadian equity market, from the largest conglomerates to emerging enterprises.

Best Canadian Bank ETFs 2024

ETFs selected for the analysis

Name	Actifs	MER
Ishares S&P TSX 60 Index – XIU	11B	0.18
Ishares Core S&P TSX Capped Comp – XIC	10.2B	0.06
BMO S&P TSX Capped Comp – ZCN	7.6B	0.06
Horizons S&P/TSX 60™ INDEX – HXT	2.8B	0.03
Vanguard FTSE Canada All Cap – VCN	4.1B	0.05

Best ETF Canada 2024 (Performance)

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Updated daily – Best Canada ETF 2024

Given that these are index ETFs, it’s understandable that their performance figures are closely aligned. Index ETFs are designed to mirror the performance of a specific market index, which means their returns are often similar, especially when they track indices within the same market, such as the Canadian equity market. This tight performance range reflects the inherent nature of index ETFs to replicate the movements of their respective indices, resulting in similar growth patterns and returns for investors. The slight variations in their performance can be attributed to differences in their specific index targets, expense ratios, and the efficiency of their tracking mechanisms. This characteristic of index ETFs makes them a favored choice for investors seeking diversified exposure to a particular market segment with the expectation of returns that closely follow the market’s overall performance.

The notable aspect of HXT.TO, an index ETF, lies in its appeal to investors who prioritize capital appreciation over direct dividend payouts. Unlike traditional ETFs that distribute dividends to shareholders, HXT.TO automatically reinvests these dividends back into the fund. This feature is particularly advantageous for investors looking for a compounding effect on their investments without the immediate income from dividends.

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Comparison volatility – Best ETF Canada 2024

Name	Beta 5 yrs
Ishares S&P TSX 60 Index – XIU	0.92
Ishares Core S&P TSX Capped Comp – XIC	0.98
BMO S&P TSX Capped Comp – ZCN	0.98
Horizons S&P/TSX 60™ INDEX – HXT	0.99
Vanguard FTSE Canada All Cap – VCN	0.99

Best Canada ETF 2024 – Canadian index ETFs

Pros and Cons of Index ETFs

Pros:

-Low MER: Because Index ETFs are a passive style of investment, they do not require an active manager. This is why the cost to operate an Index ETF is cheaper than say an Actively managed ETF. Low MER means you will benefit more from the returns the funds makes;

-Investing in a index fund has proven to be a great strategy in the long term (if you have more than 5 years horizon).

Cons:

-Index ETFs are volatile since they are tied directly to the performance of a stock exchange. Exchanges tend to rally quickly on a glimpse of good economic news but also fall sharply when investors are pessimistic about the near term. This is why it’s important when you buy an index ETF to keep it for the long run and not short term.

-Some investors prefer to have control over their investments and cherry pick stocks. Obviously, this is not possible under an index fund which basically holds all stocks part of the index without any pre-selection process.

Ishares S&P TSX 60 Index ETF (XIU.TO)

iShares S&P/TSX 60 Index ETF as its’ name implies, it’s a fund that invests in 60 largest companies that are members of the TSX. It’s the most popular ETF in Canada with 10 Billion dollars in Assets. This ETF is representative of the Canadian economy which is dominated by the Energy and Financial sector as you can see below n the sector allocation table.

The number of holdings for the ETF is 60. It has the highest MER in the list but this did not really impact its long term performance in comparison with the other funds.

XIU Holdings

Name	Weight %
ROYAL BANK OF CANADA	7.94
SHOPIFY SUBORDINATE VOTING INC CLA	7.37
TORONTO DOMINION	7.07
BANK OF NOVA SCOTIA	4.35
ENBRIDGE INC	4.28
CANADIAN NATIONAL RAILWAY	4.22
BROOKFIELD ASSET MANAGEMENT INC CL	3.76
BANK OF MONTREAL	3.68
CANADIAN IMPERIAL BANK OF COMMERCE	2.87
CANADIAN PACIFIC RAILWAY LTD	2.86

Please consult issuers’ website for up-to-date data / best etf canada 2024

XIC Sector allocation

Sector	Weight %
Financials	35.90
Energy	14.30
Materials	10.70
Information Technology	10.69
Industrials	9.89
Communication	5.84
Consumer Discretionary	4.16
Consumer Staples	3.61
Utilities	3.16
Health Care	0.84

Please consult issuers’ website for up-to-date data / Best Canada ETF 2023

Ishares Core S&P TSX Capped Comp ETF (XIC.TO)

Seeks long-term capital growth by replicating the performance of the S&P®/TSX® Capped Composite Index, net of expenses. While XIU has 60 holdings in total, XIC is much larger with 219 Canadian companies. In terms of performance both XIU and XIC are quite close. XIC has a lower MER 0.06% in comparison to XIU at 0.18%. This fund is dominated by Energy and Financial companies which is the same case for XIU.

XIC Ishares Core S&P TSX Capped Comp ETF Holdings

Name	Weight %
ROYAL BANK OF CANADA	6,24
SHOPIFY SUBORDINATE VOTING INC CLA	5,79
TORONTO DOMINION	5,55
BANK OF NOVA SCOTIA	3,42
ENBRIDGE INC	3,36
CANADIAN NATIONAL RAILWAY	3,31
BROOKFIELD ASSET MANAGEMENT INC CL	2,95
BANK OF MONTREAL	2,89
CANADIAN IMPERIAL BANK OF COMMERCE	2,26
CANADIAN PACIFIC RAILWAY LTD	2,24

Please consult issuers’ website for up-to-date data / best etf canada 2024

XIC Ishares Core S&P TSX Capped Comp ETF Sector allocation

Secteur	Poids %
Finance	31,61
Énergie	13,07
Matières	12,58
Valeurs industrielles	11,44
Technologie de l’information	9,55
COMMUNICATION	4,93
Services publics	4,54
Consommation discrétionnaire	3,92
Biens de consommation de base	3,60
Immobilier	3,15

Please consult issuers’ website for up-to-date data

BMO S&P TSX Capped Comp ETF (ZCN.TO)

ZCN is the third contender in this list of Best Index ETFs in Canada. The BMO S&P/TSX Capped Composite Index ETF (ZCN) has been designed to replicate, to the extent possible, the performance of the S&P/TSX Capped Composite Index (Index), net of expenses. Both ZCN and XIC are quite similar. They both track the S&P/TSX Capped Composite index.

ZCN BMO S&P TSX Capped Comp ETF Holdings

Weight (%)	Name
6.23%	ROYAL BANK OF CANADA
5.79%	SHOPIFY INC
5.55%	TORONTO-DOMINION BANK/THE
3.42%	BANK OF NOVA SCOTIA/THE
3.36%	ENBRIDGE INC
3.31%	CANADIAN NATIONAL RAILWAY CO
2.95%	BROOKFIELD ASSET MANAGEMENT INC
2.89%	BANK OF MONTREAL
2.26%	CANADIAN IMPERIAL BANK OF COMMERCE
2.24%	CANADIAN PACIFIC RAILWAY LTD

Please consult issuers’ website for up-to-date data

ZCN BMO S&P TSX Capped Comp ETF Sector allocation

Sector	Weight (%)
Financials	31.84
Energy	12.50
Materials	12.85
Industrials	11.72
Information Technology	9.54
Communication	4.89
Utilities	4.52
Consumer Discretionary	4.00
Consumer Staples	3.65
Real Estate	3.11

Please consult issuers’ website for up-to-date data

Vanguard FTSE Canada All Cap ETF (VCN)

Vanguard FTSE Canada All Cap Index ETF seeks to track the performance of a broad Canadian equity index that measures the investment return of large-, mid- and small-capitalization, publicly traded securities in the Canadian market.

VCN Vanguard FTSE Canada All Cap ETF Holdings

Name	Weight
Royal Bank of Canada(RY)	6.37%
Shopify Inc. Class A(SHOP)	6.13%
Toronto-Dominion Bank(TD)	5.82%
Enbridge Inc.(ENB)	3.66%
Bank of Nova Scotia(BNS)	3.60%
Canadian National Railway Co.(CNR)	3.59%
Brookfield Asset Management Inc. Class A(BAM.A)	2.84%
Bank of Montreal(BMO)	2.83%
Canadian Pacific Railway Ltd.(CP)	2.37%
TC Energy Corp.(TRP)	2.26%

Please consult issuers’ website for up-to-date data

Horizons S&P/TSX 60™ INDEX – HXT

HXT has the same strategy as XIU, ie to replicate the S & P / TSX 60 index which is made up of the 60 largest Canadian companies.

HXT Holdings

Name	Weight
SHOPIFY INC	8.99%
ROYAL BANK OF CANADA	7.86%
TORONTO-DOMINION BANK/THE	6.95%
ENBRIDGE INC	4.42%
BANK OF NOVA SCOTIA/THE	4.30%
CANADIAN NATIONAL RAILWAY CO	4.07%
BROOKFIELD ASSET MANAGEMENT INC	3.90%
BANK OF MONTREAL	3.61%
CANADIAN PACIFIC RAILWAY LTD	2.79%
CANADIAN IMPERIAL BANK OF COMMERCE	2.78%

Please consult issuers’ website for up-to-date data

HXT sector allocation

Financials (35.50%)

Energy (14.13%)

Information Technology (12.49%)

Materials (10.00%)Industrials (9.72%)

Communication Services (5.80%)

Consumer Discretionary (4.06%)

Consumer Staples (3.57%)

Utilities (3.14%)

Health Care (0.81%)

Real Estate (0.77%)

VCN Vanguard FTSE Canada All Cap ETF Sector allocation

Sector	Fund
Financials	33.5%
Energy	13.2%
Basic Materials	11.3%
Technology	10.1%
Industrials	9.4%
Consumer Discretionary	6.3%
Utilities	5.8%
Telecommunications	4.8%
Real Estate	2.3%
Consumer Staples	2.2%
Health Care	1.1%

Please consult issuers’ website for up-to-date data

Issuers websites – Best ETF Canada 2024

See below links to issuers’ website:

Disclaimer

The data on this website is for your information only. It does not constitute investment advice, or advice on tax or legal matters. Any information provided on this website does not constitute investment advice or investment recommendation nor does it constitute an offer to buy or sell or a solicitation of an offer to buy or sell shares or units in any of the investment funds or other financial instruments described on this website. Should you have any doubts about the meaning of the information provided herein, please contact your financial advisor or any other independent professional advisor.

In the ever-evolving landscape of ETFs, two heavyweights have caught the attention of Canadian investors: iShares NASDAQ 100 Hedged to CAD ETF (TSX:XQQ) and BMO NASDAQ 100 Equity Index ETF (CAD-Hedged) (TSX:ZQQ). Both of these ETFs offer a ticket to the tech-heavy NASDAQ 100 Index, a realm dominated by the giants of the non-financial world. (XQQ vs ZQQ)

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The Market Dips, Opportunities Rise

Enter XQQ and ZQQ, brought to the stage by BlackRock and BMO Global Asset Management, respectively, both offering low-cost, high-liquidity options for investors seeking NASDAQ 100 exposure.

XQQ vs. ZQQ: Fees – A Stalemate

When it comes to fees, it’s a neck-and-neck race. Both XQQ and ZQQ share an identical management expense ratio (MER) of 0.39%. In the financial realm, this means that for every $10,000 invested, you’re looking at an annual fee of $39, making this category a draw between the two contenders.

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Size Matters, but How Much?

Size is a crucial factor in the world of ETFs, influencing liquidity, trading volume, and overall stability. XQQ flaunts assets under management (AUM) totaling $2 billion, outmuscling ZQQ, which stands strong with AUM at $1.4 billion. While both are substantial for the buy-and-hold investor, XQQ takes the lead as the more popular choice among Canadian investors.

Holdings: Tracking the Titans

XQQ and ZQQ share a common mission: tracking the NASDAQ 100 Index, home to the top 100 non-financial companies on the NASDAQ exchange. It’s a playground for mega-cap growth stocks, heavily leaning towards the technology and telecommunications sectors.

Both ETFs implement currency hedging to mitigate the impact of CAD-USD fluctuations. However, the real-world application introduces some tracking error, creating a performance drag compared to the index. With identical MERs and performance, the choice between XQQ and ZQQ boils down to personal preference rather than a significant difference in AUM.

Performance comparison

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ZQQ and XQQ present nearly identical returns with only a negligible variance. Given that both ETFs closely follow the NASDAQ 100 index, this slight difference is expected. While tracking errors may contribute to this minimal discrepancy, there’s no need for concern. Over the long term, the performance of these two ETFs is anticipated to align closely with that of the NASDAQ 100, ensuring a consistently similar trajectory.

The NASDAQ 100: A Rollercoaster with Rewards

Despite the high volatility of the NASDAQ 100, opportunistic investors view it as a chance to buy high-value stocks at a discount. XQQ and ZQQ serve as gateways to this potentially lucrative market, offering a chance for investors to ride the tech wave when bargains will come by.

In conclusion, whether you opt for XQQ or ZQQ, you’re securing a piece of the tech pie. Both ETFs are well-positioned to capitalize on the NASDAQ 100’s eventual rebound. So, pick the one that resonates with you.

What’s a covered call ETF?

What’s unique about this ETF is that it uses covered calls to protect against downside risk. This being said, the covered call strategy provides limited downside protection. Also, when you write a covered call, you give up some of the stock’s potential gains. These ETFs will tend to have a higher yield and a lower performance.

ZWU is an excellent option for conservative investors looking for a steady income, moderate volatility and exposure to the Utility sector.

Summary table Risk vs Benefits of a covered call strategy

Aspect	Description
Strategy	Selling call options on a security already owned in the portfolio
Name	Covered call strategy
Risk	Potential for limited upside if the stock price rises above the strike price
Benefit	Generates additional income through premium payments received from selling call options
Goal	To earn income from stock holdings while potentially reducing downside risk
Use	Often used by investors who are willing to sell their stock at a certain price if it reaches that level
Outcome	If the stock price stays below the strike price, the option expires worthless, and the investor keeps the premium payment. If the stock price rises above the strike price, the option buyer may exercise their right to buy the stock, and the investor must sell the stock at the strike price, but still keeps the premium payment.

Performance Comparison ZWU ETF

Dividend yield

Symbol	Name	Div yld
ZWU.TO	BMO Covered Call Utilities	8.45
ZUT.TO	BMO Equal Weight Utilities Index	3.91
XUT.TO	iShares S&P/TSX Capped Utilities Index	3.57
HUTL.TO	Harvest Equal Weight Global Utilities Income	7.88

Performance

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Historical performance updated daily

Asset under management

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ZWU MER

ETF	MER* %
ZWU – BMO Covered Call Utilities ETF	0.71

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XIC vs XIU: Best Canadian Index ETFs

ZWU ETF Profile

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Updated daily

ZWU ETF 52 weeks high and low

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Updated daily

How to choose a good dividend ETF

– Total return: Though the focus here is on the dividend yield, you have to keep in mind the total return. The profit or loss we make on any investment combines both dividend income and capital gain or loss. Looking at the long-term performance of the fund is crucial. An ETF that provides a good capital appreciation with a high dividend yield is preferable.

–Diversification: A diversified ETF is always a safer option. Some high yield ETFs are sector-specific (Financials, Energy or Gold). The ones focused on Energy and Gold have had an inferior long-term performance and carry high volatility risk.

–Volume and liquidity of the ETF. The higher the asset under management, the lower the trading costs of the ETF (difference between the bid and ask price).

ZWU Dividend history

Distrib Period	Ex-Div Date	Pay Date	Total Distrib
January 2023	January 27, 2023	February 02, 2023	0.080000
February 2023	February 24, 2023	March 02, 2023	0.080000
March 2023	March 29, 2023	April 04, 2023	0.080000
April 2023	April 26, 2023	May 02, 2023	0.080000
May 2023	May 30, 2023	June 05, 2023	–

ZWU ETF Holdings

Weight (%)	Name	Ticker
5.51%	FORTIS INC/CANADA	FTS
5.51%	BMO EQUAL WEIGHT UTILITIES INDEX ETF	ZUT
5.49%	BCE INC	BCE
5.13%	ENBRIDGE INC	ENB
5.09%	PEMBINA PIPELINE CORP	PPL
4.98%	PPL CORP	PPL
4.90%	DUKE ENERGY CORP	DUK
4.86%	TC ENERGY CORP	TRP

Consult issuers’ website for up-to-date data

ZWU Sector and geographic allocation

Sector	Allocation
Utilities	55.60%
Communication Services	23.42%
Energy	20.98%

This table shows that the ETF has the highest allocation of its investments (55.60%) in the utilities sector, followed by communication services (23.42%), and energy (20.98%).

Country	Allocation
Canada	65.52%
United States	34.41%

This table shows that the ETF has a majority of its investments (65.52%) in Canadian utility companies, while also holding investments (34.41%) in utility companies located in the United States.

Introduction

The Vanguard FTSE Developed All Cap ex North America Index ETF (ticker: VIU.TO) is a popular choice for investors seeking broad exposure to developed markets outside of North America. This ETF, offered by Vanguard Canada, is designed for investors looking to diversify their portfolios internationally. Let’s delve into what makes VIU.TO a noteworthy option.

ETF Overview

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VIU.TO aims to track the performance of the FTSE Developed All Cap ex North America Index. It provides exposure to large-, mid-, and small-cap companies in developed markets, excluding the United States and Canada.

Investment Strategy

VIU.TO employs a passive management strategy, aiming to replicate the performance of its benchmark index. This includes investments across Europe, Asia, and Australia, providing a diversified international exposure. The strategy is suitable for investors looking to complement their North American holdings.

Performance Analysis

The performance of VIU.TO, compared to similar ETFs like XEC.TO, ZEA.TO, and VEE.TO, shows a strong and consistent pattern:

VIU.TO has shown a respectable performance with a YTD return of 13.54%, a 3-year average return of 4.42%, and a 5-year average return of 6.85%. This indicates steady growth and resilience over varying market conditions.

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Fees and Costs

With a Management Expense Ratio of 0.23%, VIU.TO is competitively priced compared to similar ETFs. It’s important to consider these fees, as they can impact long-term returns. There are no significant transaction costs outside of the usual brokerage fees.

Actual Management Fee	0.20%
Actual Mgmt. Expense Ratio (MER)	0.23%

Holdings and Sector Allocation

VIU.TO’s top holdings typically include major companies in sectors like financials, healthcare, and technology. The ETF’s broad sector allocation aligns with its strategy to provide diversified exposure across various industries in developed markets.

Country	Fund
Japan	23.9%
United Kingdom	14.6%
France	9.8%
Switzerland	8.5%
Germany	7.4%
Australia	7.3%

Holding Name	% of Market Value	Sector
Novo Nordisk A/S	1.72%	Pharmaceuticals
Nestle SA	1.65%	Food Products
ASML Holding NV	1.35%	Production Technology Equipment
Samsung Electronics Co. Ltd.	1.35%	Telecommunications Equipment
Shell plc	1.24%	Integrated Oil and Gas

Tax Considerations

For Canadian investors, foreign dividend income from VIU.TO is subject to withholding tax. However, this can be partially offset in taxable accounts. It’s advisable to consult with a tax professional for personalized advice.

Liquidity and Trading

VIU.TO is characterized by a high trading volume and a narrow bid-ask spread, making it easily tradable. This liquidity is a plus for investors looking for flexibility and ease in managing their investments.

Pros and Cons

Pros:

Diversification across developed international markets
Low fees compared to actively managed international funds
Strong liquidity

Cons:

Exposure to currency risk and geopolitical uncertainties
Potentially lower growth compared to emerging markets

Who Should Consider This ETF?

VIU.TO is ideal for long-term investors seeking international diversification in developed markets. It can complement a portfolio heavily weighted in North American stocks, offering a balance and potentially reducing overall portfolio risk.

Conclusion

Vanguard’s VIU.TO offers a cost-effective and diversified way to invest in international developed markets. While it comes with its set of risks, its advantages make it an attractive option for suitable investors. As always, it’s crucial to align any investment with your overall portfolio strategy and risk tolerance.

Additional Resources

FTSE Developed All Cap ex North America Index ETF (VIU) | Vanguard Canada

What’s ZDV stock?

BMO Canadian Dividend ZDV ETF focuses on companies that demonstrate a track record of dividend growth. With a diversified portfolio, the fund maintains a large number of holdings while allocating a maximum of 5% per position. This investment strategy aims to capture the potential for consistent dividend payments and capital appreciation.

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Is ZDV a good investment?

VDV stock vs VDY and XEI

In this section, we will compare ZDV with Both XDV – Ishares Canadian Select Div Index and VDY from Vanuguard. See tables below:

Table 1: AUM and MER

ETF	AUM*	MER*
ZDV – BMO Canadian Dividend	713	0.39
XEI – Ishares S&P TSX Comp High Div Index	1,088	0.22
VDY – Vanguard FTSE CDN High Div Yld Index	1,137	0.21

Source: Barchart – VDY Stock

Table 2: ZDV Stock – Performance comparison and analysis

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Updated every 15 minutes – VDY Stock

10 Best Dividend ETF in Canada

Top 10 Best Growth ETF in Canada!

Table 3: Dividend schedule and Beta

ETF	Monthly Div	Beta*
ZDV	Yes	na
XEI	Yes	1.1
VDY	Yes	0.9

Source: TD Market research, Beta is measure of volatility over 5 years period. The higher the Beta / The higher the volatility. A beta of 1 means the stock or ETF is as volatile as the TSX.

Top 10 Best Canadian Dividend Stocks

How much is the dividend for ZDV?

ZDV pays dividends on a monthly basis. Please refer the last column of the table below for the amount of dividend distribution.

Amount	Ex-Div Date	Record Date	Pay Date	Declare Date

0.0700	2/27/2024	2/28/2024	3/4/2024	2/20/2024
0.0700	1/29/2024	1/30/2024	2/2/2024	1/22/2024

0.0900	12/27/2023	12/28/2023	1/3/2024	12/18/2023
0.0700	11/28/2023	11/29/2023	12/4/2023	11/21/20

What Holdings are in ZDV ETF?

Weight (%)	Name	Sector
5.09%	TORONTO-DOMINION BANK/THE	Financials
5.02%	ROYAL BANK OF CANADA	Financials
4.98%	ENBRIDGE INC	Energy
4.84%	BCE INC	Communication Services
4.79%	BANK OF NOVA SCOTIA/THE	Financials
4.27%	CANADIAN IMPERIAL BANK OF COMMERCE	Financials
3.90%	CANADIAN NATIONAL RAILWAY CO	Industrials
3.83%	CANADIAN NATURAL RESOURCES LTD	Energy

Best Canadian Bank Dividend Stocks

ZDV ETF Sectors allocation

Financials39.94%
Energy17.98%
Communication Services10.42%
Utilities9.46%
Industrials8.62%
Materials7.19%
Consumer Staples3.74%
Consumer Discretionary2.19%

How to choose a good dividend ETF

–Volume and liquidity of the ETF. The higher the asset under management, the lower the trading costs of the ETF (difference between the bid and ask price).

–Management expense ratio.

Is HTA a good investment?

Investors seeking consistent monthly income with exposure to the dynamic tech sector may find Harvest Tech Achievers Growth & Income (HTA ETF) appealing. This investment suits income-oriented individuals who value the monthly dividend payouts, especially with an attractive yield of around 10%. The covered call strategy employed by HTA, while enhancing income potential, may have shortcomings. Investors who prioritize capital appreciation over income may find the strategy limiting, as it involves selling call options on underlying stocks, capping potential gains in exchange for premium income. Additionally, during periods of rapid market ascent, the covered call strategy may result in missed opportunities for substantial profit participation. Therefore, while HTA caters to income-focused investors, those seeking aggressive capital growth might explore alternative strategies.

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Please consult our recent post comparing HTA with other popular High Dividend ETFs in Canada.

Historical performance

ETF	Div Yld
HTA	9.62%

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Historical performance updated daily

Best US Dividend ETFs in Canada (2023)!

How had Covered call ETF’s performed historically?

In historical contexts characterized by bear markets, range-bound markets, and moderate bull markets, a covered call strategy has typically demonstrated the ability to outperform its underlying securities. However, during robust bull markets, when the underlying securities experience frequent rises beyond their strike prices, covered call strategies have historically exhibited slower growth. Nevertheless, even in these bullish phases, investors typically realize moderate capital appreciation alongside the accrual of dividends and call premiums.

HTA ETF MER

ETF	MER* %
HTA -Harvest Tech Achievers Growth & Inc	0.99

Top 10 Best Growth ETF in Canada!

XIC vs XIU: Best Canadian Index ETFs

HTA ETF Stock Profile

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Updated daily

HTA Stock 52 weeks high and low

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Updated daily

How often does HTA pay dividends?

HTA pays a monthly dividend.

Amount	Frequency	Ex-Div Date	Record Date	Pay Date	Declare Date

0.1200	Monthly	3/27/2024	3/28/2024	4/9/2024	3/21/2024
0.1200	Monthly	2/28/2024	2/29/2024	3/8/2024	2/22/2024
0.1200	Monthly	1/30/2024	1/31/2024	2/9/2024	1/24/2024

0.1200	Monthly	12/28/2023	12/29/2023	1/9/2024	12/15/2023
0.1200	Monthly	11/29/2023	11/30/2023	12/8/2023	11/16/2023
0.1200	Monthly	10/30/2023	10/31/2023	11/9/2023	10/16/2023

What are the top holdings of HTA?

Name	Weight	Sector
Alphabet Inc.	5.4%	Interactive Media & Services
ServiceNow, Inc.	5.4%	Software
Adobe Inc.	5.3%	Software
Accenture PLC	5.2%	IT Services
Micron Technology, Inc.	5.2%	Semiconductors & Semiconductor Equipment
Broadcom Inc.	5.1%	Semiconductors & Semiconductor Equipment
Meta Platforms, Inc.	5.1%	Interactive Media & Services
Microsoft Corporation	5.1%	Software
Motorola Solutions, Inc.	5.1%	Communications Equipment
NVIDIA Corporation	5.1%	Semiconductors & Semiconductor Equipment

HTA ETF Sector allocation

One of the most popular high interest ETFs in Canada is CSAV CI High Interest Savings ETF. In this post, we will discuss CSAV’s objective, Fees and historical performance. We will also compare CSAV with similar ETFs.

What’s a High interest savings ETF?

High interest savings ETF are financial instruments designed to give investors a means to save capital while earning a competitive interest rate. Furthermore, they can provide investors with better returns than typical savings accounts or money market funds (while maintaining a high level of liquidity and safety, one of their main benefits).

High interest savings ETFs are often seen as relatively low-risk investments, in contrast to stocks or other types of investments.

CSAV investment objective

CSAV is relatively low risk investment suitable for investors looking for an alternative to high interest deposit accounts.

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Updated daily – XIU Stock

Historical performance CSAV vs similar ETFs

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High interest savings ETF Canada – overview

Forward dividend yield and Management fees

Symbol	Dividend Yield	Fees
CSAV.TO	4.78%	0.15%
CASH.TO	4.92%	na
HISA.NE	4.90%	0.15%
PSA.TO	4.91%	0.16%
NSAV.NE	4.52%	0.43%

Source: Yahoo finance

High interest savings ETF – Canada

You can click on the ticker of each ETF to visit the issuer’s website. Please note the dividend yield shown on the issuers’ websites corresponds to the forward dividend yield. The latter is a projection based on the last dividend paid.

The trailing dividend yield shown in the table above is the dividend yield calculated using the dividend paid in the last 350 days.

GIC vs High interest saving ETFs

Investment Option	GIC	High-Interest Savings ETF
Type of Investment	Low-risk	Low to moderate risk
Return	Guaranteed fixed rate of return	Potentially higher rate of return
Term	Typically 1 to 5 years	No fixed term
Interest Rate	Typically higher than savings accounts	Varies depending on market conditions
Risk	Very low risk	Higher risk than GICs
Guarantee	Guaranteed by the issuing institution	No guarantee of return
Suitability	Suitable for risk-averse investors	Suitable for those seeking higher returns with moderate risk toleranc

Difference between Forward and Trailing dividend yield

Dividend Yield (Forward) = (Most Recent Dividend * Dividend Frequency) / Price

Forward dividend yield and trailing dividend yield are both measures of a company’s dividend payout to its shareholders, but they differ in the time period used to calculate them.

Trailing dividend yield is calculated based on the dividends paid over the past 12 months, divided by the current stock price. It provides an indication of how much a company has paid out in dividends over the past year, relative to its current stock price.

Forward dividend yield, on the other hand, is calculated based on the expected dividends that will be paid out in the future, divided by the current stock price. It provides an indication of how much a company is expected to pay out in dividends over the next 12 months, relative to its current stock price.

The main difference between the two is that forward dividend yield is a projection of what is expected to happen in the future, whereas trailing dividend yield is based on actual historical data. As a result, forward dividend yield can be more speculative and less reliable than trailing dividend yield.

Investors may use both measures in combination to get a more complete picture of a company’s dividend payout.

Technology plays a fundamental role in driving innovation and transforming industries in today’s rapidly evolving world. Capitalizing on the technology sector’s growth potential can be a prudent strategy for an investor. One way to achieve this exposure is by allocating a portion of your portfolio to Technology Exchange-Traded Funds (ETFs). This article discusses the best Technology focused ETFs available in Canada. We will also cover two of the most popular Technology ETF in the US.

Advantages of owning a Technology ETF

Diversification and Risk Mitigation

Allocating to Technology ETFs provides diversification benefits, as they typically hold a basket of tech stocks from various sub-sectors. By spreading your investments across multiple companies, you reduce the impact of any stock’s performance on your portfolio. The tech industry encompasses various sectors, such as software, hardware, e-commerce, and biotechnology, offering diverse growth opportunities. This diversification helps mitigate risk and shields your portfolio from potential volatility in individual technology stocks.

Capitalizing on Growth Potential

Technology ETFs offer an opportunity to tap into the growth potential of the tech sector. With advancements like artificial intelligence, cloud computing, and the Internet of Things (IoT) driving innovation, technology companies have a strong growth trajectory. By allocating to Technology ETFs, you position yourself to benefit from this growth, as the ETFs hold a diversified portfolio of tech stocks well-positioned to capitalize on industry trends and disruptive technologies.

Access to Expertise and Research

Investing in Technology ETFs allows you to leverage the expertise of professional fund managers and their research capabilities. These managers are responsible for selecting and managing the underlying portfolio of tech stocks within the ETF. They conduct in-depth analysis, monitor industry trends, and make informed investment decisions on behalf of the fund. By investing in a Technology ETF, you gain exposure to their research-driven investment strategies, benefiting from their knowledge and experience in the tech sector.

Convenience and Cost Efficiency

Technology ETFs offer convenience and cost efficiency to investors. This especially true for Index ETFs tracking the Nasdaq 100.

Potential for Dividends and Income

Some Technology ETFs also offer the potential for dividends and income. While the technology sector is often associated with growth stocks, certain companies pay dividends. By investing in dividend-focused Technology ETFs, you can benefit from both capital appreciation and regular income generation, enhancing the total return of your portfolio.

Why most Technology ETFs track the Nasdaq 100?

The NASDAQ-100 is an index that represents the performance of the top 100 non-financial companies listed on the NASDAQ stock exchange. It is one of the most widely followed stock market indices and includes companies from various sectors such as technology, consumer services, healthcare, and more.

The NASDAQ-100 is known for its heavy weighting towards technology companies, which has earned it the reputation of being a technology-focused index. Many of the world’s largest and most innovative technology companies, such as Apple, Microsoft, Amazon, and Alphabet (Google), are included in the index.

The index is market capitalization-weighted, meaning that the companies with the largest market values have a greater influence on its performance. This gives investors exposure to leading companies in the technology and other sectors, making it an attractive benchmark and investment option.

The NASDAQ-100 has historically shown strong growth and has been driven by the rapid advancement of technology and the increasing reliance on technology in various aspects of our lives. However, it’s important to note that investing in the NASDAQ-100 carries risks, especially during times of market volatility or sector-specific downturns.

Overall, the NASDAQ-100 provides investors with an opportunity to track and invest in a diverse range of leading technology and non-financial companies, making it a popular choice for those seeking exposure to the growth potential of the tech sector and other innovative industries.

Top Technology funds in Canada

Best Technology ETF in the US

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Best Technology ETF in Canada

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Asset under managements and MER comparison

Symbol	Name	AUM in M	MER
US
VGT	Vanguard Information Technology Index Fund	40,450
XLK	Technology Select Sector SPDR Fund	40,100
Canada
XQQ.TO	Ishares Nasdaq 100 Index	1,974	0.39
ZQQ.TO	BMO Nasdaq 100 Hedged To CAD Index	1,410	0.39
TEC.TO	TD Global Technology Leaders Index	1,217	0.39
TXF.TO	CI Tech Giants Covered Call	526	0.71
XIT.TO	Ishares S&P TSX Capped Info Tech	512	0.61
ZNQ.TO	BMO Nasdaq 100 Equity Index	446	0.39
HTA.TO	Harvest Tech Achievers Growth & Income	423	0.98

Performance comparison

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VGT – Vanguard Information Technology Index Fund (US)

The fund invests in information technology companies.
It invests in growth and value stocks across different market capitalizations.
The goal is to track the performance of the MSCI US Investable Market Index (IMI)/Information Technology 25/50. It aims to replicate the target index, which consists of stocks from large, mid-size, and small U.S. companies in the information technology sector.

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Company	Weight (%)
Apple Inc	23.50
Microsoft Corp	19.29
NVIDIA Corp	6.12
Visa Inc Class A	3.16
Mastercard Inc Class A	2.91
Broadcom Inc	2.25
Salesforce Inc	1.75
Cisco Systems Inc	1.74

# of Holdings 367

XLK – Technology Select Sector SPDR Fund (US)

The fund specifically targets companies operating in various information technology sectors.
It invests in both growth and value stocks across different market capitalizations.
The fund aims to replicate the performance of the Technology Select Sector Index through full replication.

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Company	Weight (%)
Microsoft Corp	24.70
Apple Inc	23.86
NVIDIA Corp	4.70
Broadcom Inc	3.58
Salesforce Inc	2.73
Cisco Systems Inc	2.58
Accenture PLC Class A	2.35
Advanced Micro Devices Inc	2.19
Adobe Inc	2.11
Oracle Corp	2.02
Total	70.82
# of Holdings	67

XQQ – Ishares Nasdaq 100 Index

iShares NASDAQ 100 Index ETF (CAD-Hedged) is an exchange traded fund that seeks to track the performance of the NASDAQ-100 Currency Hedged CAD Index.

Hedged vs Unhedged funds ETF Canada – What’s better?

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XQQ Portfolio

Name	% Weight
Microsoft Corp	13.38%
Apple Inc	12.87%
Amazon.com Inc	6.69%
NVIDIA Corp	5.33%
Alphabet Inc	4.12%
Alphabet Inc	4.06%
Meta Platforms Inc	3.96%
Tesla Inc	3.17%

ZQQ – BMO Nasdaq 100 Hedged To CAD Index

BMO Nasdaq 100 Hedged To CAD is an exchange traded fund that seeks to track the performance of the NASDAQ-100 Currency Hedged CAD Index.

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Name	% Weight
Microsoft Corp	12.54%
Apple Inc	12.31%
Amazon.com Inc	6.21%
NVIDIA Corp	5.22%
Tesla Inc	3.85%
Alphabet Inc	3.70%
Alphabet Inc	3.64%
Meta Platforms Inc	3.59%
Broadcom Inc	2.03%

TEC – TD Global Technology Leaders ETF

The objective of the TEC ETF in Canada is to provide investors with exposure to the performance of the technology sector. By investing in the TEC ETF, investors have the opportunity to participate in the growth and potential returns of technology companies. These companies operate in various areas within the technology sector, including software, hardware, internet, telecommunications, and other related industries.

The TEC ETF seeks to offer investors exposure to both established companies and emerging players in the sector.

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Name	% Weight
Apple Inc	16.08%
Microsoft Corp	13.46%
Amazon.com Inc	5.60%
NVIDIA Corp	3.90%
Alphabet Inc	3.81%
Alphabet Inc	3.39%
Meta Platforms Inc	3.22%

TXF – CI Tech Giants Covered Call ETF

TXF invests in an an equal weight basis in a portfolio of equity securities of at least the 25 largest technology companies measured by market capitalization listed on a North American stock exchange. The fund uses a covered call strategy to both:

Lower volatility
Increase distributions. This fund pays a quarterly cash distribution which included both dividends and premiums earned by issuing call options.

The companies included in the portfolio of the ETF may be changed based on the Portfolio Manager’s opinion about how easily their stocks and call options can be bought or sold. The decision is made by considering the market value of these companies.

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Name	% Weight
Meta Platforms Inc	4.54%
Microsoft Corp	4.34%
Micron Technology Inc	4.24%
Apple Inc	4.13%
NVIDIA Corp	4.12%
Intel Corp	4.10%
Cisco Systems Inc	4.08%
Alphabet Inc	4.08%

XIT – iShares S&P/TSX Capped Info Tech ETF

XIT seeks long-term capital growth by replicating the performance of the S&P/TSX Capped Information Technology Index, net of expenses. The index tracked includes exclusively Canadian companies. In total, this ETF invest in 24 Canadian technology stocks. There is a 25% cap put in place to avoid over exposure to a particular stock.

Top Tech ETFs: Full review of IShares XIT 2023

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XIT Portfolio

Name	% Weight
Shopify Inc	25.16%
Constellation Software Inc	24.54%
CGI Inc	20.29%
Open Text Corp	10.17%
The Descartes Systems Group Inc	6.22%
Kinaxis Inc	3.55%
BlackBerry Ltd	2.51%
Lightspeed Commerce Inc	1.85%

XIT Sector allocation

Sector	Weight %
Application Software	49.09
Internet Services & Infrastructure	25.34
IT Consulting & Other Services	13.60
Data Processing & Outsourced Services	6.01
Systems Software	4.39
Communications Equip.	0.81
Electronic Manufacturing Sces	0.71
Cash and/or Derivatives	0.03

ZNQ – BMO NASDAQ 100 Equity ETF

BMO Nasdaq 100 Equity Index ETF has been designed to replicate the performance of a NASDAQ listed companies index.

Hedged vs Unhedged funds ETF Canada – What’s better?

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Name	% Weight
Microsoft Corp	12.57%
Apple Inc	12.35%
Amazon.com Inc	6.23%
NVIDIA Corp	5.24%
Tesla Inc	3.86%
Alphabet Inc	3.71%
Alphabet Inc	3.65%
Meta Platforms Inc	3.60%
Broadcom Inc	2.04%

HTA – Harvest Tech Achievers Growth & Income ETF

HTA is an ETF that invests in an equally weighted portfolio of 20 large-cap technology companies (globally). In order to generate an enhanced monthly distribution yield, an active covered call strategy is engaged.

Covered call strategies are great as they generate additional income for investors (in the form of premiums). The strategy is somewhat conservative and aims at preserving the capital invested primarily. On the other hand, the strategy limits potential growth.

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Name	% Weight
Intuit Inc	5.12%
Micron Technology Inc	5.10%
Advanced Micro Devices Inc	5.07%
NVIDIA Corp	5.04%
Qualcomm Inc	5.02%
Accenture PLC	5.00%
Keysight Technologies Inc	5.00%
ServiceNow Inc	4.99%
Broadcom Inc	4.97%
Adobe Inc	4.97%

The iShares PHLX Semiconductor ETF (SOXX) is a popular investment choice for those looking to gain exposure to the semiconductor industry. This ETF aims to track the performance of the PHLX Semiconductor Sector Index, which includes companies primarily involved in the design, distribution, manufacture, and sale of semiconductors. Below, we explore the key aspects of SOXX, its performance, and why it might be a suitable addition to your investment portfolio.

Overview of SOXX

Fund Objective: The primary objective of the iShares Semiconductor ETF (SOXX) is to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the PHLX Semiconductor Sector Index.

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Holdings: The ETF comprises a diversified portfolio of semiconductor companies, including well-known names like NVIDIA, Intel, and Texas Instruments. This broad exposure helps mitigate the risk associated with investing in individual stocks.

Expense Ratio: The expense ratio for SOXX is 0.46%, which is relatively low considering the specialized nature of the fund. This makes it a cost-effective way to invest in the semiconductor sector.

Why Invest in SOXX?

Growth Potential: The semiconductor industry is at the heart of technological advancements. Semiconductors are essential components in a wide range of devices, from smartphones to advanced computing systems. As technology continues to evolve, the demand for semiconductors is expected to rise, driving growth for companies in this sector.

Diversification: Investing in SOXX provides exposure to a broad range of companies within the semiconductor industry. This diversification reduces the risk associated with investing in individual stocks, as the performance of the ETF is not overly reliant on any single company.

Accessibility: ETFs like SOXX offer an easy and cost-effective way for investors to gain exposure to international semiconductor companies. Instead of buying individual stocks, investors can purchase shares of SOXX to gain a diversified exposure to the sector.

Historical Performance: SOXX has demonstrated strong historical performance, reflecting the overall growth of the semiconductor industry. Its past returns indicate its potential for future growth, making it an attractive option for investors looking to capitalize on the semiconductor boom.

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Key Holdings

The iShares Semiconductor ETF (SOXX) includes several key players in the industry:

NVIDIA (NVDA): A leading designer of GPUs, critical for gaming, AI, and data centers.
Intel Corporation (INTC): A dominant force in the CPU market, providing processors for personal computers and servers.
Texas Instruments (TXN): Known for its analog and embedded processing products, which are vital for various electronic devices.

These holdings represent some of the most innovative and influential companies in the semiconductor sector.

Conclusion

The iShares Semiconductor ETF (SOXX) offers investors a robust and diversified way to invest in the semiconductor industry. With its strong performance, low expense ratio, and exposure to leading semiconductor companies, SOXX is an excellent option for those looking to benefit from the growth of this critical sector. As always, consider your investment goals and risk tolerance before investing.

For more detailed information and to invest in SOXX, visit the iShares official website.

In this post, we will compare the best Canadian REITs ETF available in Canada. First, we will discuss the benefits of owning this type of investments. Then, for each ETF, we will provide the fund’s objective, MER, holdings, historical performance and dividend distribution.

What’s a REIT

Real Estate Investment Trusts (REITs) are specialized companies that engage in owning, operating, or financing properties that generate income. These trusts have a diverse range of investments, encompassing various types of properties. This includes apartment buildings, data centers, hotels, medical facilities, offices, retail centers, cell towers, and warehouses.

While REITs can be privately held, the majority are publicly traded entities. This accessibility allows investors to easily purchase shares of real estate investment trusts on the Toronto Stock Exchange. Canadian REITs have garnered popularity for several compelling reasons.

Firstly, they provide a means of diversification in an investment portfolio. The unique nature of real estate assets typically shows a low correlation with other asset classes, making them a valuable addition. Furthermore, REITs are often seen as a natural hedge against inflation. Lastly, they offer a steady and stable source of income. The bulk of REIT revenues is derived from rent payments from tenants occupying their buildings and properties. This form of income tends to be more stable than revenues from other commercial activities, adding to the attractiveness of REITs as an investment option.

What’s an REIT ETF

It’s an exchange trader fund that invests primarily in a portfolio of REITs. The manager of the ETF can either track a REIT index, pursue an active strategy or a mix of both.

Canadian REITs ETF are great as they offer a low cost way to get exposure to large number of REITs. The holder of a REIT ETF can benefit from diversification which lowers the overall risk.

What to look for in a REIT ETF

When looking for the Best Canadian REITs ETF, please make sure to check for the criteria’s below:

Sector allocation matters in REIT ETF. Investors should check whether the ETF invests in various sectors. The idea is to avoid REITs that are overly exposed to one type of properties. Generally speaking, a mix of industrial, retail and residential is appreciated.
Yield distribution;
Performance;
Management expense ratio.

Table 1: Canadian REITs ETF list

Name	AUM	Div yld
MREL – Middlefield REIT Indexplus	109	6.12
RIT – CI First Asset Canadian REIT	778	4.24
ZRE – BMO Equal Weight Reits Index	828	4.20
XRE – Ishares S&P TSX Capped REIT Index	1,422	2.95
VRE – Vanguard FTSE CDN Capped REIT Index	338	3.05

Source: Yahoo finance

Table 2: MER Comparison and historical performance

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Updated daily

ETF	MER
MREL	0.98
RIT	0.86
ZRE	0.61
XRE	0.61
VRE	0.38

Source: Yahoo finance

Review: XDV – Ishares Canadian Select Dividend Index

8 Best Covered Call ETF Canada – High dividend yield

ZEB ETF Review: BMO Equal Weight Banks Index

The performance of these ETFs shows a range of outcomes, with some experiencing growth and others witnessing declines, particularly in the short term. ZRE.TO and VRE.TO have demonstrated resilience with stronger returns, positioning them as potentially more stable choices. Conversely, RIT.TO, MREL.TO, and XRE.TO have encountered more significant obstacles, as reflected by their negative YTD returns and subdued average annual returns.

The challenges faced by these ETFs often stem from their sensitivity to interest rates and the specific nature of the assets they hold. Interest rate sensitivity is a crucial factor for REITs; as rates rise, the financing costs for properties can increase, leading to reduced profits and, consequently, lower returns for investors. This sensitivity can particularly impact ETFs like RIT.TO, MREL.TO, and XRE.TO, which have shown negative performance in the short term.

Another challenge is the lack of diversification in the types of assets held by these REITs. Some may concentrate heavily in specific types of properties or geographic locations, making them more vulnerable to sector-specific downturns or regional economic shifts. This lack of diversification can lead to increased volatility and risk, contributing to the challenges and lower returns observed in some of the ETFs. When considering investment, the broader economic environment, interest rate forecasts, and the specific asset composition of the REIT should be carefully evaluated to understand potential performance and risks.

1- VRE – Vanguard FTSE CDN Capped REIT Index ETF

VRE Seeks to track the performance of the FTSE Canada All Cap Real Estate Capped 25% Index (before fees and expenses). It provides exposure to Canadian large-, mid-, and small-cap stocks in the Real Estate industry.

Vanguard FTSE CDN Capped REIT Index ETF has the lowest MER among the ETFs selected for this post.

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VRE ETF Holdings

Holding name	% Weight
Canadian Apartment Properties REIT(CAR.UN)	15.23
FirstService Corp.(FSV)	11.57
RioCan REIT(REI.UN)	10.91
Allied Properties REIT(AP.UN)	8.76
Granite REIT(GRT.UN)	7.63
H&R REIT(HR.UN)	7.29
Colliers International Group Inc.(CIGI)	6.48
First Capital REIT(FCR.UN)	6.25
SmartCentres REIT(SRU.UN)	6.18
Choice Properties REIT(CHP.UN)	6.05

Please consult issuers’ website for the most up-to-date data

Sector allocation

Sector	Fund
Retail REITs	23.2%
Office REITs	19.6%
Real Estate Services	18.1%
Residential REITs	17.7%
Diversified REITs	9.0%
Industrial REITs	7.7%
Real Estate Holding and Development	4.6%
Total	100.0%

Please consult issuers’ website for the most up-to-date data

VRE ETF Distribution

Distribution frequency: Monthly

Adj. Amount	Ex-Div Date	Record Date	Pay Date	Declare Date

0.0672	12/28/2023	12/29/2023	1/8/2024	12/20/2023
0.0672	11/30/2023	12/1/2023	12/8/2023	11/23/2023
0.0672	10/31/2023	11/1/2023	11/8/2023	10/24/2023
0.0672	9/28/2023	10/2/2023	10/10/2023	9/22/2023
0.0672	8/31/2023	9/1/2023	9/11/2023	8/24/2023
0.0672	7/31/2023	8/1/2023	8/9/2023	7/24/2023
0.0672	6/30/2023	7/4/2023	7/11/2023	6/23/2023

2- ZRE – BMO Equal Weight Reits Index ETF

ZRE is an index fund that tracks the Solactive Equal Weight Canada REIT Index. It invests in Canadian securities that fall within the Real Estate Investment Trust sector. Each security in the Index is allocated a fixed weight rather than a market capitalization weight. This is the largest REITS ETF by asset under management with 1.3 Billion.

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Adj. Amount	Ex-Div Date	Record Date	Pay Date	Declare Date

0.0900	12/27/2023	12/28/2023	1/3/2024	12/18/2023
0.0900	11/28/2023	11/29/2023	12/4/2023	11/21/2023
0.0900	10/27/2023	10/30/2023	11/2/2023	10/20/2023
0.0900	9/27/2023	9/28/2023	10/4/2023	9/20/2023
0.0900	8/29/2023	8/30/2023	9/5/2023	8/22/2023

Sector allocation

Sector	Weight %
Retail	27.87%
Residential	21.94%
Industrial	18.55%
Diversified	13.63%
Office	8.90%

Please consult issuers’ website for the most up-to-date data

ZRE ETF Holdings

Weight (%)	Name
4.98%	WPT INDUSTRIAL REAL ESTATE INVESTMENT TRUST
4.96%	SUMMIT INDUSTRIAL INCOME REIT
4.76%	CROMBIE REAL ESTATE INVESTMENT TRUST
4.63%	SMARTCENTRES REAL ESTATE INVESTMENT TRUST
4.63%	RIOCAN REAL ESTATE INVESTMENT TRUST
4.61%	INTERRENT REAL ESTATE INVESTMENT TRUST
4.61%	CHARTWELL RETIREMENT RESIDENCES
4.59%	MINTO APARTMENT REAL ESTATE INVESTMENT TRUST
4.58%	CHOICE PROPERTIES REAL ESTATE INVESTMENT TRUST
4.57%	H&R REAL ESTATE INVESTMENT TRUST

Please consult issuers’ website for the most up-to-date data

MREL – Middlefield REIT Index plus ETF

IDR has been designed to provide investors with low-cost exposure to the global real estate sector through a combination of indexing and active portfolio management.

65% of the funds’ assets are invested in the Canadian market (34% in the United states and 2% International).

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IDR ETF Holdings

TOP 10 HOLDINGS

Canadian Apartment Properties REIT
SmartCentres Real Estate Investment Trust
First Service Corp
RioCan Real Estate Investment Trust
Granite Real Estate Investment Trust
Prologis Inc First Capital Real Estate Investment Trust
Welltower Inc Colliers International Group Inc
WPT Industrial Real Estate Investment Trust

(As of March 31, 2021)

IDR ETF Sector allocation

Name	Weight %
Industrial REITs	24.4
Retail REITs	19.5
Residential REITs	18.6
Real Estate Services	7.9
Specialized REITs	6.9
Healthcare REITs	6.7
Office REITs	5.9
Diversified REITs	4.4
Asset Management & Custody Banks	2.9
Hotels, Resorts & Cruise Lines	2.8

Please consult issuers’ website for the most up-to-date data

RIT – CI First Asset Canadian REIT ETF

RIT is an actively managed portfolio comprised primarily of securities of Canadian real estate investment trusts, real estate operating corporations and entities involved in real estate related services. Up to 30% of the Fund’s assets may be invested in foreign securities.

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RIT ETF Distribution

Ex-Div Date	Record Date	Pay Date	Amount

5/24/2023	5/25/2023	5/31/2023	0.0675
4/21/2023	4/24/2023	4/28/2023	0.0675
3/24/2023	3/27/2023	3/31/2023	0.0675
2/21/2023	2/22/2023	2/28/2023	0.0675
1/24/2023	1/25/2023	1/31/2023	0.067

Sector breakdown

Sector	Weight %
Residential	30.73
Industrials	21.07
Retail	18.64

Please consult issuers’ website for the most up-to-date data

RIT ETF Holdings

Name	%
CANADIAN APARTMENT PPTYS REIT	4.96
TRICON RESIDENTIAL INC	4.88
DREAM INDUSTRIAL REIT	4.87
SUMMIT INDUSTRIAL INCOME REIT	4.70
INTERRENT REIT	4.68
GRANITE REIT	4.62
KILLAM APT REAL ESTATE INVT TR	4.21
MINTO APARTMENT REIT	4.06
CHARTWELL RETIREMENT RESIDENCE	4.01
CHOICE PROPERTIES REIT	3.74

Please consult issuers’ website for the most up-to-date data

XRE – iShares S&P/TSX Capped REIT Index ETF

Seeks to provide long-term capital growth by replicating the performance of the S&P/TSX Capped REIT Index, net of expenses.

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Ex-Div Date	Record Date	Pay Date	Amount

5/24/2023	5/25/2023	5/31/2023	0.0580
4/24/2023	4/25/2023	4/28/2023	0.0580
3/22/2023	3/23/2023	3/31/2023	0.0570
2/22/2023	2/23/2023	2/28/2023	0.0570
1/25/2023	1/26/2023	1/31/2023	0.0570

XRE ETF Holdings

Name	Weight %
CANADIAN APARTMENT PROPERTIES REAL	15.27
RIOCAN REAL ESTATE INVESTMENT TRUS	10.38
ALLIED PROPERTIES REAL ESTATE INVT	8.81
GRANITE REAL ESTATE INVESTMENT STA	7.77
HANDR REAL ESTATE INVESTMENT TRUST	7.06
CHOICE PROPERTIES REAL ESTATE INVE	5.97
FIRST CAPITAL REALTY REAL ESTATE I	5.88
SMARTCENTRES RL ESTATE INVESTMENT	5.73
SUMMIT INDUSTRIAL INCOME REIT UNIT	4.01
DREAM INDUSTRIAL REAL ESTATE INVES	3.61

Please consult issuers’ website for the most up-to-date data

Sector allocation

Type	Fund
Retail REIT’s	32.24
Residential REIT’s	24.26
Industrial REIT’s	18.27
Diversified REIT’s	11.64
Office REIT’s	10.18
Health Care REIT’s	3.26
Cash and/or Derivatives	0.16

Please consult issuers’ website for the most up-to-date data

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