English – Page 20

For this post, we will share the list of Canadian Dividend Stocks under 10$! All these stocks are Canadian companies listed on the TSX. Monthly dividend stocks are a great way to generate a regular passive income.

We limited ourselves to stocks with over five hundred millions market cap to avoid stocks with low liquidity. In addition, only stock with Dividend Payout Ratio under 125% were considered. For each company, we will provide the dividend yield, pertinent ratios and historical performance.

7 Best Dividend stocks to buy now (safe dividends and growth)

Best dividend stocks to buy – Dividend aristocrats

US Stocks that pay monthly dividends (Full list by sector)

How to select monthly dividend stocks?

Look at the payout ratio

The dividend payout ratio is the amount of dividend distributed by a company divided by the total earnings. For example, a company makes a profit of $ 100 and pays $ 40 in dividends. Its payout ratio is 40%.

If the ratio is high, the company pays almost all of its profits in dividends. There will be little money left in the coffers to innovate or expand to new markets;

It is preferable to invest in a company where the dividend payout ratio is low or medium. The reasoning is that these companies will have money set aside to invest in new projects and thus create growth;

Another variation of payout ratio (Trailing div / Earnings) is the payout ratio to cash (Div / Free cash flows). Earnings can be easily manipulated, so analysts use the payout ratio to cash to assess the safety of dividends better. The website ‘Marketbeat‘ provides the payout ratio to cash for Canadian stocks.

Focus on total return

When one wishes to invest in a dividend-paying stock, it is essential to pay attention to its performance and growth potential. The most common mistake is to invest in stocks with high dividend yields. This strategy is risky. Here’s why :

• A stock can pay a high dividend yield, but is it sustainable? Some companies have a payout ratio that is close to and even exceeds 100%. They manage to post desirable dividend yields, but if we look at the growth prospects, it’s almost nil;

• Investors sometimes shun companies for lack of growth potential or actual risk of lower revenues in the future. These companies experience a drop in the price of their shares, and this causes the dividend yield to become abnormally high. Sooner or later, these businesses will have to cut their dividend.

Dividend sustainability

I personally use the measures below to evaluate a company’s ability to sustain its dividends:

– Debt to Equity ratio: It’s the total debt of a company on shareholders equity. Companies with level of debt are forced to priories the payment of interest charges. This comes at the expense of creating value for shareholders, whether it’s through dividend payment or growth.

– Interest coverage ratio: It’s simply total earnings divided by interest charges. If the ratio is, for example, 4, we would say the company’s earning cover 4 times the interest charges. Business with low interest coverage ratio are at risk. Low ratio means the company’s debt is starting to take a toll on its earnings.

Canadian Dividend Stocks under 10$ -Full list

Last price and Dividend yield

TICKER	PRICE Below 10	DIV YIELD	MKT CAP
FSZFIERA CAPITAL CORP	6.13CAD	14.45%	613.024MCAD
TALPETROTAL CORP	0.74CAD	13.51%	678.915MCAD
TFTIMBERCREEK FINANCIAL CORP	6.60CAD	10.63%	540.89MCAD
BIRBIRCHCLIFF ENERGY LTD.	7.93CAD	10.13%	2.104BCAD
CJCARDINAL ENERGY LTD	7.74CAD	9.60%	1.189BCAD
FCFIRM CAPITAL MORTGAGE INV. CORP.	9.88CAD	9.54%	338.322MCAD
DIVDDIVERSIFIED RTY CORP	2.57CAD	9.34%	368.186MCAD
PNEPINE CLIFF ENERGY LTD	1.52CAD	8.66%	533.615MCAD
PHXPHX ENERGY SERVICES CORP.	7.62CAD	8.00%	371.718MCAD
EXEEXTENDICARE INC	6.12CAD	7.74%	522.53MCAD
DBMDOMAN BUILDING MATERIALS GROUP LTD	7.41CAD	7.50%	650.077MCAD
AQNALGONQUIN POWER AND UTILITIES CORP.	7.57CAD	7.48%	5.393BCAD
INEINNERGEX RENEWABLE ENERGY INC.	9.61CAD	7.48%	1.967BCAD
ECORECORA RESOURCES PLC	1.65CAD	7.30%	409.115MCAD
AFMALPHAMIN RESOURCES CORP.	0.89CAD	6.74%	1.135BCAD
RAY.BSTINGRAY GROUP INC VARIABLE SV	4.50CAD	6.73%	312.886MCAD
RSIROGERS SUGAR INC	5.36CAD	6.65%	567.231MCAD
RAY.ASTINGRAY GROUP INC SV	4.58CAD	6.64%	312.886MCAD
AGF.BDAGF MANAGEMENT LTD	6.86CAD	6.45%	441.595MCAD
AGF.BAGF MANAGEMENT LTD., CL.B, NV	6.84CAD	6.45%	441.595MCAD
DXTDEXTERRA GROUP INC	5.82CAD	6.04%	376.07MCAD
SSFCSAGICOR FINANCIAL COMPANY LTD	5.27CAD	5.73%	750.057MCAD

Dividend Sustainability ratios

TICKER	DEBT/EQUITY	CURRENT RATIO	P/E
FSZFIERA CAPITAL CORP	2.77	—	36.55
TALPETROTAL CORP	0.08	2.90	4.84
TFTIMBERCREEK FINANCIAL CORP	1.53	—	8.85
BIRBIRCHCLIFF ENERGY LTD.	0.13	0.99	6.95
CJCARDINAL ENERGY LTD	0.06	0.69	6.47
FCFIRM CAPITAL MORTGAGE INV. CORP.	0.51	—	10.51
DIVDIVERSIFIED ROYALTY CORP	0.86	5.27	20.24
PNEPINE CLIFF ENERGY LTD	0.03	2.05	11.41
PHXPHX ENERGY SERVICES CORP.	0.34	2.10	5.34
EXEEXTENDICARE INC	4.37	0.78	15300.00
DBMDOMAN BUILDING MATERIALS GROUP LTD	1.28	3.19	10.73
AQNALGONQUIN POWER AND UTILITIES CORP.	1.56	0.71	—
INEINNERGEX RENEWABLE ENERGY INC.	4.89	0.99	—
ECORECORA RESOURCES PLC	0.10	0.49	—
AFMALPHAMIN RESOURCES CORP.	0.12	2.19	14.29
RAY.BSTINGRAY GROUP INC VARIABLE SV	1.43	1.09	8.99
RSIROGERS SUGAR INC	1.52	1.70	—
RSIDROGERS SUGAR INC	1.52	1.70	—
RAY.ADSTINGRAY GROUP INC	1.43	1.09	9.21
RAY.ASTINGRAY GROUP INC SV	1.43	1.09	9.15
AGF.BAGF MANAGEMENT LTD., CL.B, NV	0.08	—	4.97
DXTDDEXTERRA GROUP INC	0.54	1.44	24.96
SSFCSAGICOR FINANCIAL COMPANY LTD	1.46	0.14	6.41

Historical performance

TICKER	3-MONTH PERF	YTD PERF	5Y PERF
FSZFIERA CAPITAL CORP	−8.92%	−30.10%	−50.96%
TALPETROTAL CORP	2.78%	7.25%	146.67%
TFTIMBERCREEK FINANCIAL CORP	−12.23%	−8.21%	−28.57%
BIRBIRCHCLIFF ENERGY LTD.	3.66%	−13.90%	65.21%
CJCARDINAL ENERGY LTD	8.86%	3.06%	79.17%
FCFIRM CAPITAL MORTGAGE INV. CORP.	−6.79%	−8.01%	−23.88%
DIVDIVERSIFIED ROYALTY CORP	−11.11%	−14.95%	−9.86%
PNEPINE CLIFF ENERGY LTD	−1.94%	−8.43%	406.67%
PHXPHX ENERGY SERVICES CORP.	7.93%	2.56%	154.85%
EXEEXTENDICARE INC	−17.41%	−7.55%	−16.73%
DBMDOMAN BUILDING MATERIALS GROUP LTD	16.33%	26.24%	−17.30%
AQNALGONQUIN POWER AND UTILITIES CORP.	−29.78%	−14.94%	−41.14%
INEINNERGEX RENEWABLE ENERGY INC.	−26.25%	−41.62%	−19.72%
ECORECORA RESOURCES PLC	−17.50%	−30.38%	−60.53%
AFMALPHAMIN RESOURCES CORP.	−13.59%	−1.11%	256.00%
RAY.BSTINGRAY GROUP INC VARIABLE SV	−19.35%	−10.00%	−46.43%
RSIROGERS SUGAR INC	−6.29%	−5.47%	−1.83%
RAY.ASTINGRAY GROUP INC SV	−11.92%	−4.58%	−45.61%
RAY.ADSTINGRAY GROUP INC	−13.67%	−5.53%	−45.44%
AGF.BAGF MANAGEMENT LTD., CL.B, NV	−12.76%	−5.13%	21.93%
DXTDEXTERRA GROUP INC	4.68%	11.92%	−58.87%
SSFCSAGICOR FINANCIAL COMPANY LTD	18.43%	−4.53%	−46.71%

The Vanguard US Total Market ETF is a popular index fund. It’s ideal for investors who are looking for a low fee exposure to the US Market. In this post, we will discuss VUN’s strategy, dividend yield and stock performance. We will also compare VUN to VFV and VTI.

Best Dividend Contenders by sector (High Dividend Yields)

CIBC Investor’s Edge Review – Cashback offer

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What’s the objective of VUN ETF?

VUN seeks to track the performance of a broad U.S. equity index that measures the investment returns of primarily large-capitalization. In other words, this fund is a way to obtain exposure to the US economy. Since, the index covers a large number of equities, it’s pretty representative.

You would want to acquire this funds for two reasons:

You are bullish on the US economy in general;
to diversify your existing Canadian portfolio of investments with a US component.

VUN managers follow a passive strategy. Meaning, the managers are simply replicating the performance of an existing index. All the details regarding the index, being tracked, are discussed in the section below.

What’s the US Total market index?

The US Total Market Index is managed by the Center for Research in Security Prices. The index includes nearly 4,000 constituents. So, when you’re buying VUN you will achieve, before fees and expenses, the performance of a large basket of US equities. The index includes:

large, mid, small and micro capitalizations. Large caps represent 70% of the overall portfolio;
value and growth stocks, consequently it’s diversified across investment styles.

The methodology used by the index to select constituents can be found below:

when selecting constituents, emphasis is placed on minimizing unnecessary index turnover;
the index is reconstituted quarterly;
market cap of constituents is float adjusted.

VUN dividend yield and historical performance

Table 1: AUM and MER

ETF	AUM*	MER*
Vanguard US Total Market ETF	4,657	0.17%

VUN Stock

VUN is not ideal for investors who are looking for dividend income. It’s more suited for investors who seek long term growth. Please check our post on the Best Canadian monthly dividend ETF – 2023.

VFV vs VUN

In this section, we will compare VUN to VFV S&P 500 Index ETF. From an exposure point of view, both ETFs have the same goal, which is to offer investors exposure to the US Market. VUN has the advantage of being more diversified. For instance, VFV invests primarily in large US caps and has only 500 constituents. VUN includes small, mid, and large caps and has over 4,000 equities.

In terms of MER, VFV has a very low MER at 0.08% compared to 0.16% for VUN. Both VUN and VFV has a similar level of volatility and risk.

Since VFV invests in the largest 500 companies in the US economy, one can argue it offers exposure to ‘high-quality stocks’.

In essence, choosing between VFV and VUN comes down to personal preference. S you can see below, both had an excellent performance in the past five years. I am personally a big fan of the S&P 500 index because of the quality of its constituents and the diversification it offers across various sectors of the US economy.

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Updated daily – VUN Stock

VUN vs VTI

VTI is the Vanguard Total Stock Market ETF. It trades in US dollars and is offered by Vanguard on the US stock exchange. In fact, VUN holdings are simply 100% in VTI. So, the question that most investors ask:

should I invest directly in the US listed ETF (VTI) or buy the Canadian equivalent VUN?

There are three key differences between these two ETFs:

VUN has higher management fees than the US listed version VTI. The difference is (0.15% for VUN – 0.05% for VTI = 0.10%);
Since VTI is US listed it has to be acquired in US dollars;
Taxation wise: if you hold VTI in an RRSP you can be exempt for the 15% tax withheld on non Canadian dividend payments.

In a nutshell, if you are investing in a TFSA, both ETFs will incur the 15% withholding tax on dividends. The only differences that will matter is the management fees and foreign exchange cost. Since the difference in terms of fees is small, I personally would rather own VUN avoid the foreign exchange cost.

In an RRSP, I would still stick to VUN as the dividend yield on VTI is only 1.21%. It’s not high enough to justify the switch.

VUN Sector breakdown

Sector	Fund
Technology	29.5%
Consumer Discretionary	16.5%
Industrials	12.6%
Health Care	12.4%
Financials	11.1%

Please issuers’ website for up-to-date data – VUN Stock

Questrade: Get 50$ free trades when you open a Questrade account

VUN Morningstar rating

The Morningstar rating for VUN is 4 stars:

★★★★

VUN holdings

Holding Name	% Weight
Apple Inc.	5.5%
Microsoft Corp.	5.2%
Amazon.com Inc.	3.2%
Tesla Inc.	1.9%
Alphabet Inc. Class A	1.8%
NVIDIA Corp.	1.6%
Alphabet Inc. Class C	1.6%

Please issuers’ website for up-to-date data

As the global economy continues to evolve, investors are seeking opportunities beyond traditional markets to diversify their portfolios and achieve higher returns. Emerging markets ETF have emerged as a compelling option for Canadian investors. In fact, many investors are looking to tap into the growth potential of economies that are rapidly developing and expanding. One effective way to gain exposure is through Exchange-Traded Funds (ETFs) that focus on emerging markets.

Emerging markets encompass a diverse range of countries, including nations in Asia, Latin America, Africa, and the Middle East. These economies often exhibit higher growth rates compared to developed markets, driven by factors such as population growth and increasing consumer demand.

For Canadian investors, Emerging Markets ETFs provide an accessible and efficient avenue to participate in these growth stories. These ETFs are designed to track a basket of stocks or bonds from companies within emerging markets. By investing in an ETF, Canadian investors can mitigate some of the risks associated with investing in individual companies.

Best Emerging Markets ETF – Top 3 in Canada

Asset under management and inception date

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Performance comparison

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Unveiling the Potential: Exploring the Vanguard FTSE Canada All Cap Index ETF (VCN Stock)

VFV Review (2024): Vanguard S&P500 ETF For Canadians

Vanguard FTSE Emerging Markets All Cap Index ETF (VEE)

The Vanguard FTSE Emerging Markets All Cap Index ETF aims to replicate the results of the FTSE Emerging Markets All Cap China A Inclusion Index. Its investments are primarily in the stocks of large, mid-sized, and small companies situated within emerging markets.

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iShares Core MSCI Emerging Markets IMI Index ETF (XEC)

XEC presents a clear investment objective: to secure long-term capital growth by mirroring the performance of the MSCI Emerging Markets Investable Market Index, net of expenses. This strategic approach serves as the foundation for several persuasive factors that make XEC an attractive consideration for investors.

Firstly, XEC offers Strategic Access to the promising long-term growth potential synonymous with emerging markets. Through this fund, investors can align their portfolios with the upward trajectory of economies on the rise.

Secondly, Cost-Effective Diversification is a key advantage that XEC brings to the table. With a straightforward and economical approach, investors gain ownership of a well-rounded collection of over 1500 stocks worldwide. This diversification can mitigate risk and amplify growth potential.

Furthermore, XEC is thoughtfully designed as a Core Holding for the long haul. Its structure is intended to act as a stable and fundamental element within investment portfolios, serving as an anchor amidst market fluctuations.

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BMO MSCI Emerging Markets Index ETF (TSE:ZEM)

The main goal of the BMO MSCI Emerging Markets Index ETF is to mirror the performance of the MSCI Emerging Markets Index. The MSCI Emerging Markets Index itself reflects the combined performance of both large and mid-sized companies across 24 countries categorized as Emerging Markets. These markets countries consist of a diverse range including Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea, Kuwait, Malaysia, Mexico, Peru, Philippines, Poland, Qatar, Saudi Arabia, South Africa, Taiwan, Thailand, Turkey, and the United Arab Emirates.

With a substantial composition of 1,422 individual elements, this index effectively encompasses approximately 85% of the market capitalization that is freely traded and adjusted within each of these countries.

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Welcome to the world of dividends, where investments turn into streams of passive income. In the realm of finance, dividends play a crucial role in attracting investors seeking both stability and a reliable source of returns. If you’re an investor in the Canadian stock market, particularly on the Toronto Stock Exchange (TSX), you’re likely interested in knowing when some of the largest companies listed on the TSX will be distributing their dividends.

In this article, we’ll be your dividend calendar guide, providing a comprehensive overview of the dividend distribution schedules for a select group of large-cap companies on the TSX.

Dividend Calendar Canada

February 2024 – Mid and Large caps

	Company	Ex-Dividend Date	Dividend	Payment Date	Yield
Tuesday, January 30, 2024
	Boardwalk REIT (BEI_u)	Jan 30, 2024	0.0975	Feb 15, 2024	1.66%
	Canadian Tire Ltd (CTCa)	Jan 30, 2024	1.75	Mar 01, 2024	4.73%
	Primaris Real Estate (PMZ_u)	Jan 30, 2024	0.07	Feb 15, 2024	5.96%
	Northland Power (NPI)	Jan 30, 2024	0.1	Feb 15, 2024	4.84%
	CT Real Estate (CRT_u)	Jan 30, 2024	0.07485	Feb 15, 2024	6.04%
	Riocan REIT (REI_u)	Jan 30, 2024	0.09	Feb 07, 2024	5.86%
	First Capital Realty (FCR_u)	Jan 30, 2024	0.072	Feb 15, 2024	5.59%
	Canadian Apartment Properties (CAR_u)	Jan 30, 2024	0.12084	Feb 15, 2024	3.08%
	Chartwell Retirement Residences (CSH_u)	Jan 30, 2024	0.051	Feb 15, 2024	5.23%
	Allied Properties (AP_u)	Jan 30, 2024	0.15	Feb 15, 2024	8.75%
	Killam Properties (KMP_u)	Jan 30, 2024	0.05833	Feb 15, 2024	3.73%
	Sienna Senior Living (SIA)	Jan 30, 2024	0.078	Feb 15, 2024	7.70%
	Tamarack Valley Energy (TVE)	Jan 30, 2024	0.0125	Feb 15, 2024	4.69%
	Whitecap Resources (WCP)	Jan 30, 2024	0.0608	Feb 15, 2024	8.15%
	Crombie REIT (CRR_u)	Jan 30, 2024	0.07417	Feb 15, 2024	6.44%
	Choice Properties REIT (CHP_u)	Jan 30, 2024	0.0625	Feb 15, 2024	5.29%
	Peyto Exploration&Develop (PEY)	Jan 30, 2024	0.11	Feb 15, 2024	9.98%
	Smart REIT (SRU_u)	Jan 30, 2024	0.15417	Feb 15, 2024	7.50%
	Northwest Healthcare (NWH_u)	Jan 30, 2024	0.03	Feb 15, 2024	7.24%
	H&R Real Estate (HR_u)	Jan 30, 2024	0.05	Feb 15, 2024	6.01%
	Exchange Income (EIF)	Jan 30, 2024	0.22	Feb 15, 2024	5.59%
	Freehold Royalties (FRU)	Jan 30, 2024	0.09	Feb 15, 2024	7.70%
	Granite REIT (GRT_u)	Jan 30, 2024	0.275	Feb 15, 2024	4.49%
	InterRent REIT (IIP_u)	Jan 30, 2024	0.0315	Feb 15, 2024	2.79%
	Dream Industrial REIT (DIR_u)	Jan 30, 2024	0.05833	Feb 15, 2024	5.15%
	Mullen Group (MTL)	Jan 30, 2024	0.06	Feb 15, 2024	4.60%
Wednesday, January 31, 2024
	Emera Incorporated (EMA)	Jan 31, 2024	0.7175	Feb 15, 2024	5.88%
	Canadian Utilities (CU)	Jan 31, 2024	0.4531	Mar 01, 2024	5.77%
	Richelieu Hardware (RCH)	Jan 31, 2024	0.15	Feb 15, 2024	1.38%
Thursday, February 1, 2024
	PayPoint (PAYP)	Feb 01, 2024	9.5	Mar 05, 2024	7.01%
	SSP (SSPG)	Feb 01, 2024	2.5	Feb 29, 2024	1.10%
	Paragon Banking Group (PAGPA)	Feb 01, 2024	26.4	Mar 08, 2024	5.25%
	Schroder Oriental (SOI)	Feb 01, 2024	2	Feb 16, 2024	4.88%
	Edinburgh Investment (EDIN)	Feb 01, 2024	6.7	Feb 23, 2024	3.97%
	IG Group (IGG)	Feb 01, 2024	13.56	Mar 01, 2024	6.32%
Friday, February 2, 2024
	MTY Food (MTY)	Feb 02, 2024	0.28	Feb 15, 2024	1.93%
Wednesday, February 14, 2024
	Enghouse Systems (ENGH)	Feb 14, 2024	0.22	Feb 29, 2024	2.35%
Thursday, February 15, 2024
	Imperial Brands (IMB)	Feb 15, 2024	51.82	Mar 28, 2024	7.59%
	Fortis Inc (FTS)	Feb 15, 2024	0.59	Mar 01, 2024	4.42%
	Pershing Square (PSHP)	Feb 15, 2024	0.1456	Mar 15, 2024	1.25%
	ICG Enterprise (ICGT)	Feb 15, 2024	8	Mar 01, 2024	2.70%
Thursday, February 22, 2024
	Virgin Money UK (VMUK)	Feb 22, 2024	2	Mar 20, 2024	3.42%
	EasyJet (EZJ)	Feb 22, 2024	4.5	Mar 22, 2024	0.85%
	Endeavour Mining (EDV)	Feb 22, 2024	0.41	Mar 25, 2024	4.47%

Dividend Calendar

January 2024 – Large caps

Compagnie	Ex-Dividend Date	Dividend $	Payment Date	Rend Div
Bank of Nova Scotia (BNS)	Jan 02, 2024	1.06	Jan 29, 2024	6.70%
Auto Trader Group Plc (AUTOA)	Jan 04, 2024	3.2	Jan 26, 2024	1.22%
Dollarama (DOL)	Jan 04, 2024	0.0708	Feb 02, 2024	0.30%
Experian (EXPN)	Jan 04, 2024	0.18	Feb 02, 2024	–
Toronto Dominion Bank (TD)	Jan 09, 2024	1.02	Jan 31, 2024	4.79%
Ashtead Group (AHT)	Jan 11, 2024	0.1575	Feb 08, 2024	–
Sage (SGE)	Jan 11, 2024	12.75	Feb 09, 2024	1.64%
SSE (SSE)	Jan 11, 2024	20	Mar 08, 2024	4.74%
Compass (CPG)	Jan 18, 2024	28.1	Feb 29, 2024	2.03%
Bank of Montreal (BMO)	Jan 29, 2024	1.51	Feb 27, 2024	4.64%
Mondi (MNDI)	Jan 29, 2024	1.6	Feb 13, 2024	–
Canadian Tire Ltd (CTCa)	Jan 30, 2024	1.75	Mar 01, 2024	5.00%

Dividend Calendar

December 2023

Company	Ex-Dividend Date	Dividend	Type	Payment date
Thursday, December 7, 2023
	Canadian Natural (CNQ)	Dec 07, 2023	1	Jan 05, 2024
Thursday, December 14, 2023
	Cenovus Energy Inc (CVE)	Dec 14, 2023	0.14	Dec 29, 2023
	BCE Inc (BCE)	Dec 14, 2023	0.9675	Jan 15, 2024
Thursday, December 28, 2023
	Nutrien (NTR)	Dec 28, 2023	0.53	Jan 12, 2024
	Canadian Pacific Kansas City (CP)	Dec 28, 2023	0.19	Jan 29, 2024

Dividend Calendar

November 2023

Company	Ex-Dividend Date	Dividend	Type	Payment date
Tuesday, November 7, 2023
	Waste Connections (WCN)	Nov 07, 2023	0.285	Nov 28, 2023
Wednesday, November 15, 2023
	Thomson Reuters (TRI)	Nov 15, 2023	0.49	Dec 15, 2023
Thursday, November 16, 2023
	Fortis Inc (FTS)	Nov 16, 2023	0.59	Dec 01, 2023
Tuesday, November 21, 2023
	Gildan Activewear (GIL)	Nov 21, 2023	0.186	Dec 18, 2023
Wednesday, November 29, 2023
	Brookfield Infrastructure Partners (BIP_u)	Nov 29, 2023	0.3825	Dec 29, 2023
Thursday, November 30, 2023
	Imperial Oil (IMO)	Nov 30, 2023	0.5	Jan 01, 2024
	Agnico Eagle Mines (AEM)	Nov 30, 2023	0.4	Dec 15, 2023

Octobre 2023

Company	Ex-Dividend Date	Dividend	Type	Payment date
Thursday, October 5, 2023
	Dollarama (DOL)	Oct 05, 2023	0.0708	Nov 03, 2023
	Toronto Dominion Bank (TD)	Oct 05, 2023	0.96	Oct 31, 2023
Monday, October 23, 2023
	Tourmaline Oil (TOU)	Oct 23, 2023	1	Nov 01, 2023
Thursday, October 26, 2023
	Metro Inc. (MRU)	Oct 26, 2023	0.3025	Nov 14, 2023
Friday, October 27, 2023
	Bank of Montreal (BMO)	Oct 27, 2023	1.47	Nov 28, 2023
Monday, October 30, 2023
	Canadian Apartment Properties (CAR_u)	Oct 30, 2023	0.12084	Nov 15, 2023
	Canadian Tire Ltd (CTCa)	Oct 30, 2023	1.725	Dec 01, 2023
Tuesday, October 31, 2023
	Emera Incorporated (EMA)	Oct 31, 2023	0.7175	Nov 15, 2023

What’s a Dividend Calendar

A dividend calendar is an essential tool for investors focusing on dividend income. It not only provides a schedule of when dividends are expected but also helps in planning investment strategies and managing cash flows efficiently. Here are some key components and additional advice for investors on how to leverage a dividend calendar effectively:

Key Components of a Dividend Calendar:

Declaration Date: The date on which a company announces its next dividend payment, specifying the dividend amount per share.

Ex-Dividend Date: This is crucial. To receive the declared dividend, you must purchase the stock before this date. Anyone buying the stock on or after the ex-dividend date will not receive the dividend.

Record Date: The company determines its shareholders eligible for the dividend on this date. It’s typically set shortly after the ex-dividend date.

Payment Date: The actual day when the dividend payment is made to the shareholders.

Advice for Investors:

Early Planning: Use the dividend calendar to plan your purchases and sales. Knowing the ex-dividend dates helps ensure you’re holding the stock at the right time to qualify for dividends.

Monitor Regularly: Dividend dates and amounts can change. Regularly checking your dividend calendar helps you stay updated with any adjustments.

Diversify Payment Dates: To ensure a steady income stream, consider investing in stocks or ETFs with staggered dividend payment dates. This strategy can provide more consistent cash flow throughout the year.

Consider Dividend Reinvestment Plans (DRIPs): Many companies offer DRIPs, allowing you to reinvest dividends into additional shares automatically, which can be beneficial for compounding growth over time.

Stay Informed About Market Conditions: Dividend payments can be influenced by economic factors and company performance. Staying informed can help you anticipate changes in dividend policies.

Tax Planning: Be aware of the tax implications of dividend income. In some jurisdictions, dividends are taxed differently than regular income, which can affect your investment strategy.

Use Technology: Leverage investment apps and platforms that offer dividend tracking and alerts. These tools can notify you of upcoming ex-dividend dates, payment dates, and any changes in dividend policies.

Tools to help with planning your Dividend Calendar

For investors looking to manage their dividend income effectively, several tools and platforms can be invaluable in tracking dividend payments, schedules, and related information. Here are some popular tools that can assist investors in staying on top of their dividend investments:

Brokerage Account Platforms: Many online brokerages provide integrated tools for tracking your investments, including dividend schedules. These platforms often offer personalized dividend calendars based on your portfolio, alerting you to upcoming dividend payments.

Investment Tracking Apps: Apps like Seeking Alpha, Dividend.com, and The Motley Fool offer features for dividend tracking, including calendars, alerts, and analysis on dividend-paying stocks.

Financial News Websites: Websites such as Bloomberg, Yahoo Finance, and MarketWatch provide extensive financial data, including dividend declarations, ex-dividend dates, and payment dates, along with tools to create personalized watchlists.

Personal Finance Software: Software like Quicken and Personal Capital allows you to manage all your financial accounts in one place, including investments. They can track dividends and help with overall financial planning.

Dividend Tracker Apps: Dedicated dividend tracker apps, such as Dividend Tracker and DRIP: Dividend Reinvestment Plan Tracker, are specifically designed to monitor dividend payments and schedules, helping investors plan their investment strategies around dividend income.

Spreadsheets: For those who prefer a more hands-on approach, custom spreadsheets created in Excel or Google Sheets can be powerful tools for tracking dividends, especially when combined with financial data APIs or manual updates.

Ninepoint Partners, a distinguished name in Canada’s alternative investment landscape, manages an impressive $8 billion in assets, providing a range of investment options including mutual funds and ETFs across various sectors. Among its offerings is the NNRG stock, a dynamic choice for those looking into the energy sector. This ETF, part of the Ninepoint Energy Fund, comes in two distinct versions, allowing investors to select the type that best fits their strategy and investment goals. Whether you’re interested in mutual funds or ETFs, Ninepoint’s NNRG stock stands out as a specialized, high-potential investment in the energy domain.

The NNRG ETF version was launched in May 2021. Both have the same stated objective.

NNRG ETF Objective

NNRG ETF invests primarily in mid-cap companies involved directly or indirectly in the exploration, development, production and distribution of oil, gas, coal, or uranium and other related activities in the energy and resource sector.

The fund is an active ETF. The fund does not replicate an index. On the contrary, the portfolio manager selects stocks that best fit the funds’ stated objective. NNRG is suited for investment with high-risk tolerance.

The fund invests mainly in Canadian companies.

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ZEB ETF Review: BMO Equal Weight Banks Index

Best Canadian Bank ETFs 2024

NNRG Management fees

The management fees for NNRG are 1.50%.

NNRG trades on the Neo Exchange, which is a Canadian stock exchange based in Toronto.

NNRG ETF vs XEG and ZEO Fees

	Fees	AUM
NNRG.NE ETF	1.50	361
Ninepoint Energy Mutual fund Series F
XEG – Ishares S&P TSX Capped Energy Idx	0.55	1,762
ZEO -BMO S&P TSX Eql Weight Oil Gas Index	0.55	260
ENCC – Horizons Canadian Oil And Gas Equity Covered Call ETF	0.81	240

Barchart and Issuers’ website

NNRG ETF vs XEG vs ENCC and ZEO: Historical performance

SYMBOL	3 YEAR AVG RETURN	5 YEAR AVG RETURN
NNRG.NE	–	–
Ninepoint Energy Fund Series F	60.42%	30.76%
XEG.TO	40.34%	13.97%
ZEO.TO	31.67%	13.52%
ENCC.TO	39.57%	15.56%

As of December 27th 2023

Analysis

Let’s compare NNRG ETF to two well-established alternatives: XEG (iShares S&P TSX Capped Energy Index) and ZEO (BMO S&P TSX Equal Weight Oil Gas Index). It’s important to note that both XEG and ZEO are passive ETFs designed to track the performance of the energy sector. While NNRG ETF was introduced in May 2021, providing us with less than 3 years worth of performance data, we can use the mutual fund version for a comparative analysis with XEG and ZEO.

Unsurprisingly, XEG and ZEO come with lower fees compared to NNRG. This cost differential is to be expected, given that NNRG operates as an active ETF.

ENCC.TO: This covered call ETF has a 39.57% 3-year average return and a 15.56% 5-year average return. The relatively high returns, especially over the 3-year period, indicate that ENCC.TO’s strategy of selling call options on top of holding energy stocks has been effective in generating income, contributing to its overall performance. The covered call strategy is particularly focused on income, making ENCC attractive for investors seeking higher yield. However, it’s important to note that selling call options can cap the upside potential of the underlying stocks during strong market rallies.

When it comes to performance, NNRG stands out as the clear winner. The fund has delivered exceptional results in both the short and long term. Opting for an active ETF, particularly for long-term investments, holds significant value in this scenario. Several factors contribute to NNRG’s remarkable performance:

NNRG’s investment focus on mid-cap energy companies, whereas both XEG and ZEO are predominantly composed of large industry leaders.
The benefits derived from active management, which allows for more strategic and adaptable investment decisions.

Full list of ‘Dividend Kings’ stocks by sector

Review of UMAX: Hamilton Utilities Yield Maximizer ETF (13% Target yield)

NNRG Stock price

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Top Ten Holdings

Top Ten Holdings as of 12/29/2023

Arc Resources Ltd

Athabasca Oil Corp

Baytex Energy Corp

Cenovus Energy Inc (Alberta)

Crescent Point Energy Corp

Headwater Exploration Inc

Meg Energy Corp

Precision Drilling Corporation

Tamarack Valley Energy Ltd

Whitecap Resources Inc (Pre-Merger)

NNRG Sector allocation

Oil & Gas Exploration & Production	80.08
Integrated Oil & Gas	16.49
Cash And Cash Equivalents	3.43

Q&A

Is NNRG an ETF?

Yes, NNRG is an ETF that primarily invests in mid-cap companies involved in the energy and resource sector, particularly those related to the exploration, development, production, and distribution of oil, gas, coal, or uranium. It trades on the Neo Exchange in Canada.

Who are the top holdings of the Ninepoint Energy Fund?

The top holdings of the NNRG ETF include a range of mid-cap energy companies, such as Athabasca Oil Corp, Baytex Energy Corp, Canadian Natural Resources Ltd, Cenovus Energy Inc (Alberta), Chord Energy Corp, Headwater Exploration Inc, Meg Energy Corp, Nuvista Energy Ltd., Tamarack Valley Energy Ltd, and Whitecap Resources Inc. These holdings reflect the fund’s focus on mid-cap energy companies.

What stocks are in Ninepoint Energy Income Fund?

While specific stocks in the Ninepoint Energy Income Fund aren’t listed in the provided information, it’s likely similar to the NNRG ETF, focusing on mid-cap companies in the energy sector. For the most accurate and up-to-date information, reviewing the fund’s most recent holdings through official Ninepoint Partners reports or disclosures is advisable.

How big is Ninepoint Partners?

Ninepoint Partners is a significant player in Canada’s alternative investment management scene, overseeing approximately $8 billion in assets under management and institutional contracts. This size reflects its broad range of investment offerings, including mutual funds and ETFs targeting various sectors.

The allure of the best dividend paying ETFs, especially those with yields surpassing 10%, stands out prominently. Our focus here is on uncovering these high-yielding ETFs, predominantly within the realm of covered call ETFs, known for their exceptional dividend payouts. Adhering to a meticulous methodology, we spotlight ETFs that not only offer an impressive dividend yield of over 10% but also maintain a minimum Asset Under Management (AUM) of $100 million, blending high yield with financial stability.

These ETFs present an attractive proposition for those seeking to enhance their income streams, combining the benefits of regular dividend payments with the potential for capital appreciation. Particularly, covered call ETFs utilize an options strategy to generate additional income, thereby elevating their dividend yield.

Best Dividend Paying ETFs: Comparison AUM and MER

Dividend yield

Name	Div Yield
HMAX -HAMILTON CDN FINANCIALS YD MAX ETF	15.52%
ENCC -HORIZONS CDN OIL GAS EQTY CVRD CALL	14.69%
HPYT -HARVEST PREMIUM YIELD TREASURY ETF	14.62%
UMAX -HAMILTON UTILITIES YIELD MAXIMIZER ETF	13.79%
HYLD -HAMILTON ENHANCED US COVE CALL ETF	12.09%
QMAX -HAMILTON TECHNOLOGY YIELD MAXIMIZER	11.72%

Source TD Market Research & Trading view – *MER not yet published, the percentage indicate the management fee only, the MER could be much higher. As of December 15th, 2023

Asset under management and inception date

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HMAX – Hamilton Canadian Financials Yield Maximizer

HMAX ETF is a new fund offered by Hamilton ETF. The fund invests in the Canadian banking sector. This fund aims to provide an attractive dividend yield (target 13%) using a covered call strategy. The strategy consists of writing call options on (50% of the portfolio) to collect premiums and maximize monthly distributions.

What Does HMAX Hold?

TICKER	NAME	WEIGHT
RY	Royal Bank of Canada	22.2%
TD	Toronto-Dominion Bank	20.1%
BMO	Bank of Montreal	10.8%
BNS	Bank of Nova Scotia	9.7%
BN	Brookfield Corp	9.5%
CM	Canadian Imperial Bank of Commerce	6.5%
MFC	Manulife Financial	6.3%
SLF	Sun Life Financial	5.3%
GWO	Great-West Lifeco	5.1%
IFC	Intact Financial	5.0%

ENCC – Horizons Canadian Oil and Gas Equity Covered Call

ENCC is specifically crafted to cater to Canadian investors. Its central mission encompasses:

a) Providing an avenue for Canadian investors to access the performance of an index comprising domestic companies operating within the crude oil and natural gas industry. The current representation of this index is the Solactive Equal Weight Canada Oil & Gas Index.

b) Delivering monthly distributions that encompass dividend earnings and call option income, while factoring in expenses.

To effectively manage and potentially mitigate downward market risks while simultaneously generating income, ENCC will employ a dynamic covered call option writing strategy tailored to the preferences and needs of Canadian investors.

Portfolio

Security Name	Weight
ARC Resources Ltd	12.57%
Tourmaline Oil Corp	11.60%
Keyera Corp	10.62%
Canadian Natural Resources Ltd	10.11%
Imperial Oil Ltd	10.04%
Cenovus Energy Inc	9.70%
Enbridge Inc	9.10%
Pembina Pipeline Corp	9.05%
Suncor Energy Inc	8.76%

HPYT – Harvest Premium Yield Treasury ETF

HPYT aims to provide unitholders with a high monthly distribution yield, with a secondary objective of preserving capital. The fund primarily invests in a diversified portfolio of U.S. treasury securities. By employing a covered call strategy, HPYT seeks to enhance the yield on its portfolio, offering investors an opportunity to gain regular income while maintaining exposure to low-risk treasury assets.

QMAX – Hamilton Technology Yield Maximizer

QMAX’s investment objective is to provide unitholders with a high monthly income through a combination of dividend and option strategy income, with a secondary focus on long-term capital appreciation. The fund invests in an equity portfolio of global technology companies. QMAX aims to maximize income yield from these technology investments while also offering potential for capital growth.

UMAX -Hamilton Utilities Yield Maximizer ETF

Hamilton introduced a new ETF called UMAX, which focuses on the utilities sector (UMAX was launched June 14th 2023). This ETF is designed to provide investors with attractive monthly income while offering exposure to a diversified portfolio of utility services equity securities primarily listed in Canada and the U.S. UMAX aims to reduce volatility and enhance dividend income by employing an active covered call strategy.

TICKER	NAME	WEIGHT
BCE	BCE Inc	7.7%
TRP	TC Energy Corp	7.7%
ENB	Enbridge Inc	7.7%
RCI/B	Rogers Communications Inc	7.7%
FTS	Fortis Inc/Canada	7.7%
EMA	Emera Inc	7.7%
PPL	Pembina Pipeline Corp	7.7%
WCN	Waste Connections Inc	7.7%
CNR	Canadian National Railway Co	7.7%
H	Hydro One Ltd	7.7%
T	TELUS Corp	7.7%
NPI	Northland Power Inc	7.7%
CP	Canadian Pacific Kansas City Ltd	7.7%

Risks Associated with Covered Call ETFs

Variability in Distribution

A key characteristic of covered call ETFs is that their distributions can vary significantly, primarily because the option premiums, which are a major component of the yield, are not fixed. The income generated from selling call options depends on market volatility and the price movement of the underlying stocks. In periods of low market volatility or when stock prices are stagnant, the premiums received from selling options may be lower, subsequently reducing the overall distribution yield of the ETF. This variability can make it challenging for investors who rely on consistent income streams.

Risk of Capital Erosion

Another risk in some covered call ETFs is the potential for capital erosion. In rare instances, if the option premiums and dividends are not sufficient to meet the distribution targets, fund managers might resort to selling stocks within the portfolio. This practice, known as capital erosion, can diminish the fund’s asset base, impacting its long-term income-generating capacity and potentially leading to a reduction in the value of the ETF. To mitigate this risk, investors should select funds managed by reputable managers who possess strong expertise in options trading.

Covered Call Strategy and Growth Limitation

The covered call strategy, while beneficial for generating income, inherently caps the potential growth of the ETF. By selling call options, the fund gives up the upside potential beyond the strike price of the options. In a strong bull market where the underlying stocks may experience significant appreciation, the fund will not fully capitalize on these gains. As it is obliged to sell the stocks at the strike price. This limitation means that investors may miss out on substantial growth opportunities seen in a rising market.

No Safeguard Against Market Downturns

It’s also crucial to understand that a covered call strategy does not safeguard against market downturns. While the income from option premiums can provide some cushion, it may not be sufficient to offset significant declines in the underlying stock prices. Therefore, during market downturns, covered call ETFs can still experience substantial declines in value. This aspect emphasizes the importance of considering these ETFs as part of a diversified investment strategy rather than a standalone solution for income or growth.

In summary, while covered call ETFs offer an appealing avenue for income generation, understanding the associated risks is vital. Investors should consider the variability in distributions, potential for capital erosion, limitations on growth, and volatility when incorporating these ETFs.

In the competitive landscape of investment opportunities, the best performing Vanguard ETFs have consistently emerged as a top choice for Canadian investors, thanks to their robust performance and cost efficiency. Vanguard, a leader in Exchange-Traded Funds (ETFs), has a range of offerings that have demonstrated impressive track records over the past 5 years. Without diving into the specifics of their financial performance, this discussion will focus on the strategic attributes and market focus of these standout ETFs: VFV, VSP, VUN, VGG, VUS, and VMO, each of which has carved a niche for itself among the best performing Vanguard ETFs available to investors.

Best Performing Vanguard ETFs

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Best Performing Vanguard ETF

1. Vanguard S&P 500 Index ETF (VFV)

Net Assets: $10.18 Billion

Inception Date: November 1, 2012

VFV aims to track the performance of the S&P 500 Index, providing exposure to large-cap U.S. stocks. It’s a popular choice for investors seeking to benefit from the growth of major American corporations. The ETF’s focus on the U.S. market, the world’s largest economy, has contributed to its strong performance over the years.

Based on its historical performance, VFV is the best performing vanguard ETF.

QQQ vs. VOO: A Tale of Two ETFs for Canadian Investors

2. S&P 500 Index ETF (CAD-hedged) (VSP)

Net Assets: $2.76 Billion

Inception Date: November 1, 2012

VSP offers a similar exposure to the S&P 500 as VFV but with a key difference: it’s CAD-hedged. This means it aims to mitigate the impact of currency fluctuations between the Canadian dollar and the U.S. dollar on returns. For investors concerned about currency risk, VSP provides a way to invest in U.S. equities while managing currency exposure.

3. Vanguard U.S. Total Market Index ETF (VUN)

Net Assets: $6.87 Billion

Inception Date: August 1, 2013

VUN provides comprehensive coverage of the U.S. equity market, including large, mid, and small-cap stocks. This ETF is designed to track the performance of the CRSP US Total Market Index. Its broad market exposure makes it an attractive option for investors looking for diversified U.S. market participation.

Based on its historical performance, VFV is the third best performing vanguard ETF.

VFV vs VUN: The Battle of the ETF Giants!

4. Vanguard U.S. Dividend Appreciation Index ETF (VGG)

Net Assets: $1.22 Billion

Inception Date: August 1, 2013

For those focused on income as well as growth, VGG seeks to track the performance of U.S. companies with a record of growing dividends. It provides exposure to a subset of U.S. equities that are not only large and stable but also committed to returning capital to shareholders through dividends.

5. U.S. Total Market Index ETF (CAD-hedged) (VUS)

Net Assets: $847.05 Million

Inception Date: November 29, 2011

Similar to VUN, VUS offers exposure to the entire U.S. equity market but with a CAD-hedged strategy. This ETF is suitable for investors looking for broad U.S. market exposure without the added variable of USD/CAD currency fluctuations impacting their investment returns.

6. Global Momentum Factor ETF (VMO)

Net Assets: $87.70 Million

Inception Date: June 13, 2016

VMO is somewhat different from the others as it employs a factor-based investing strategy, specifically focusing on the momentum factor. This ETF seeks to capture the performance of global stocks that have shown strong price momentum. It’s a choice for those looking to capitalize on the tendency of winning stocks to continue their upward trajectory.

Investing with a Long-Term Perspective

These Vanguard ETFs, with their varied strategies and market focuses, offer something for every type of investor, from those seeking broad market exposure to those looking for specific strategies like dividend growth or momentum investing. When considering these ETFs for long-term investment, it’s essential to evaluate how they align with your investment goals, risk tolerance, and the overall composition of your portfolio.

Diversification across different sectors, regions, and investment styles is crucial to managing risk and aiming for consistent long-term returns. As always, past performance is not indicative of future results, so thorough research and possibly consultation with a financial advisor are advisable before making investment decisions. With their strong track record over the past 5 years, these Vanguard ETFs merit consideration for inclusion in a diversified investment portfolio.

VGG vs VFV: Navigating Your ETF Options in the U.S. Market

Hedged vs Unhedged ETF

To illustrate the differences between a hedged and unhedged ETF, here’s a comparative table that outlines the key features, benefits, and considerations of each approach:

Feature	Hedged ETF	Unhedged ETF
Currency Risk	Currency risk is mitigated through hedging strategies, protecting the ETF from currency fluctuations.	Exposed to currency risk, meaning the ETF’s value can be affected by changes in exchange rates.
Investment Objective	Aims to provide returns of the underlying assets while neutralizing the impact of currency movements.	Aims to provide returns of the underlying assets without actively managing currency exposure.
Performance	Performance is more stable in terms of the investor’s home currency, reducing the impact of currency volatility.	Performance can be more volatile due to currency fluctuations, adding an additional layer of risk or opportunity.
Costs	Typically incurs higher costs due to the expenses associated with currency hedging strategies.	Generally has lower costs as it does not incur the additional expenses of hedging against currency movements.
Ideal For	Investors who want to eliminate currency risk from their international investments.	Investors who are looking to take advantage of potential gains from currency movements in addition to the underlying asset’s returns.
Considerations	While it offers protection against currency risk, it can limit potential gains from favorable currency movements.	Currency movements can significantly impact returns, either positively or negatively, depending on exchange rate fluctuations.

Latest posts

HBND, Canada’s 1st Covered Call Bond ETF, offers income-focused investors an appealing opportunity. With an initial target yield of 10% or more, monthly distributions, and exposure to trusted U.S. treasuries, it’s an attractive option. In this article, we’ll explore HBND’s key features, investment objectives, and why it’s a suitable choice for maximizing monthly income.

Executive summary

Key Features	Description
Initial Target Yield	10% or more
Distribution Frequency	Monthly
Asset Exposure	U.S. government bonds and trusted U.S. treasuries
Tax Efficiency	Covered call premiums generally taxed as capital gains
Management Expertise	Actively managed by Nick Piquard with over 25 years of options experience
Investment Objective	To provide attractive monthly income through a combination of bond ETFs and covered call option writing
Strategies	Portfolio of bond ETFs with an emphasis on U.S. treasuries, covered call option writing
Use of Leverage	None
Risks to Consider	Potential yield decline during economic downturns, risks associated with options and market volatility
Conclusion	HBND offers an opportunity to maximize monthly income while prioritizing security and tax efficiency.

The HBND Advantage

HBND stands out as an investment vehicle that combines the strength and security of U.S. government bonds with the higher income potential and tax efficiency of covered calls. This unique combination is designed to address the needs of investors who prioritize regular income while minimizing risk. Here are the highlights that make HBND a standout choice:

10%+ Initial Target Yield: HBND aims to deliver an initial target yield of 10% or more. This impressive yield potential is particularly attractive in a low-interest-rate environment where traditional bond yields are often meager.

Monthly Distributions: Investors can enjoy the benefit of monthly distributions from their HBND investment. This regular income stream provides liquidity and can be appealing for those who rely on investment income.

Exposure to Trusted U.S. Treasuries: U.S. treasuries are widely regarded as a safe haven for investors. HBND provides exposure to these highly trusted assets, offering a layer of security within the portfolio.

Tax-Efficient Covered Call Premiums: One of the tax advantages of HBND is that covered call premiums are generally taxed as capital gains. This can be more tax-efficient than the taxation of interest income from traditional bonds.

Experienced Management: HBND’s covered call strategy is actively managed by Nick Piquard, who boasts over 25 years of experience specializing in options. Piquard’s expertise is instrumental in navigating the complex world of options to optimize income generation.

Investment Objectives and Strategies

The primary investment objective of HBND is to provide investors with attractive monthly income. To achieve this goal, HBND focuses on the following strategies:

Portfolio of Bond ETFs: HBND primarily invests in a portfolio of bond exchange-traded funds (ETFs), with an emphasis on U.S. treasuries. These ETFs offer diversification within the fixed-income market.

Covered Call Option Writing: To enhance distribution income, mitigate risk, and reduce portfolio volatility, HBND employs a covered call option writing program. Approximately 50% of the portfolio is dedicated to selling at-the-money options contracts, which offer higher premiums.

It’s important to note that HBND does not use leverage. This can be reassuring for investors looking for a more conservative approach to generating income.

Factors Favoring Covered Call Bond ETFs

Several factors support the appeal of covered call bond ETFs like HBND and their potential for generating attractive yields:

High Treasury Volatility: The bond market’s Move Index, which measures bond market volatility similar to how the VIX measures equity volatility, has reached levels not seen since the financial crisis. High volatility translates into high option premiums, benefiting covered call strategies. This trend has been observed in equity covered call ETFs, where yields often exceed 12%.

Fed’s Desire for Higher Rates: The Federal Reserve’s intention to keep interest rates relatively high for an extended period can benefit fixed-income investments. While short-term rates are directly influenced by Fed policy, long-term rates are more responsive to economic conditions. This scenario could lead to an inverted yield curve, keeping overall yields higher.

Assessing Risks

While HBND offers an appealing proposition for income-seeking investors, it’s crucial to acknowledge the associated risks. One significant risk factor to consider is the potential for declining yields when a recession looms. Historically, during economic downturns, investors tend to flock to the safety of Treasury bonds, causing yields to decrease. This flight to safety trade can impact the performance of HBND, as lower yields on underlying bond holdings can affect income generation.

Similar funds offered in US

While HBND is Canada’s 1st Covered Call Bond ETF, similar strategies can be found in the U.S. market. For instance, iShares introduced a trio of covered call ETFs based on bond indexes, including the iShares Investment Grade Corporate Bond BuyWrite Strategy ETF (LQDW), the iShares High Yield Corporate Bond BuyWrite Strategy ETF (HYGW), and the iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW).

Conclusion: Exploring HBND’s Potential

In conclusion, HBND, Canada’s 1st Covered Call Bond ETF, offers a compelling investment opportunity for income-focused investors with its unique combination of monthly distributions, exposure to U.S. treasuries, and tax-efficient covered call premiums. However, while HBND presents an attractive choice, it’s essential to be mindful of potential risks.

One significant risk to consider is the possibility of declining yields during economic downturns. Historical data reveals that when a recession looms, investors often seek the safety of Treasury bonds, causing yields to decrease. This flight to safety trade can impact HBND’s performance and affect income generation.

Additionally, the covered call strategy, while boosting income through option premiums, carries risks tied to options. For example, there’s a chance that options may expire worthless, which could impact the overall performance of the ETF.

Therefore, before making an investment decision, it’s crucial for investors to conduct thorough research, assess their risk tolerance, and consider their financial goals. Consulting with a financial advisor can provide valuable insights tailored to individual circumstances. While HBND offers a combination of income, security, and tax efficiency, it’s vital to remain vigilant in the face of potential risks in the ever-changing financial landscape.

Additional source of info:

XQQ Stock Objective

If you’re looking for exposure to some of the largest non-financial companies listed on The Nasdaq Stock Market based on market capitalization, the XQQ ETF might be a suitable investment option. The XQQ ETF seeks to provide long-term capital growth by replicating the performance of the NASDAQ-100 Currency Hedged CAD Index, net of expenses.

Full Review of XEQT: iShares Core Equity ETF Portfolio

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Best ETF Canada: Top 7 offered by BMO – 2024

What’s the Nasdaq 100?

The Nasdaq-100 is an important stock market index that represents the performance of 100 large and active non-financial companies listed on The Nasdaq Stock Market. It’s a way to measure how these companies are doing. The index includes well-known companies like Apple, Microsoft, Amazon, and Alphabet. Investing in the Nasdaq-100 has advantages. It lets you invest in innovative and growing companies, spread your investment across different types of businesses, and access global markets. Furthermore, it has a history of performing well and is easy to buy and sell because it’s traded a lot.

You can invest in it through different options like exchange-traded funds (ETFs). However, remember that investing in the stock market has risks, so it’s important to do your research and consider your goals before making decisions.

XQQ Stock Profile

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Updated daily

XQQ Stock 52 weeks high and low

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Performance comparison with similar ETFs

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XQQ vs ZQQ

Criteria	XQQ	ZQQ
Management Expense Ratio	0.39%	0.39%
Size (Assets Under Management)	$2.09 billion	$1.52 billion
Holdings	Tracks NASDAQ 100 Index	Tracks NASDAQ 100 Index
	Currency hedging	Currency hedging
Historical Performance	Minimal tracking error	Minimal tracking error
	Similar performance	Similar performance

Both XQQ and ZQQ have the same management expense ratio (0.39%) and track the NASDAQ 100 Index with currency hedging. XQQ has a larger asset size compared to ZQQ. Both ETFs have shown minimal tracking error and similar historical performance.

Review of BMO’s low volatility ETFs: ZLB and ZLU

What are the largest ETFs in Canada?

Dividend

Declare Date	Ex-Div Date	Record Date	Pay Date	Amount

11/23/2022	12/29/2022	12/30/2022	1/5/2023	0.1937
6/17/2022	6/24/2022	6/27/2022	6/30/2022	0.1650

Holdings

Name	Weight (%)
MICROSOFT CORP	12.68
APPLE INC	12.05
AMAZON COM INC	6.62
NVIDIA CORP	6.50
TESLA INC	4.05
META PLATFORMS INC CLASS A	4.00
ALPHABET INC CLASS A	3.88
ALPHABET INC CLASS C	3.84
BROADCOM INC	2.28
USD/CAD	1.80

Advantages of investing in the Nasdaq 100

Investing in the Nasdaq-100 index offers several advantages for investors. Here are some key benefits of investing in the Nasdaq-100:

Exposure to Innovative and High-Growth Companies: The Nasdaq-100 index includes some of the world’s most innovative and high-growth companies. These companies are at the forefront of technological advancements, disruptive business models, and cutting-edge research. By investing in the Nasdaq-100, you gain exposure to companies that have the potential for significant long-term growth and the ability to shape industries.

Diversification

The index provides diversification across multiple sectors. While it is known for its heavy concentration in technology, it also includes companies from other sectors such as consumer discretionary, healthcare, communication services, and more. This diversification helps reduce the impact of individual stock volatility and sector-specific risks on your investment portfolio.

Global Reach

It includes U.S. and international companies, providing exposure to global markets. This global reach allows investors to benefit from the growth of companies operating in various countries and regions, which can help mitigate the risks associated with investing solely in one country or region.

Strong Historical Performance

The Nasdaq-100 has delivered solid historical performance. The index has outperformed many other broad market indices, reflecting the success of the companies included. This historical performance can make the Nasdaq-100 an attractive option for investors seeking long-term capital appreciation.

Liquidity

It’s one of the most actively traded indexes in the world. This high level of liquidity makes it easier for investors to buy and sell shares, ensuring that they can enter or exit positions with minimal impact on the market price. Liquidity is an important consideration, particularly for large investors or those prioritizing the ability to trade quickly and efficiently.

Investment Vehicles

The Nasdaq-100 can be accessed through various investment vehicles, such as exchange-traded funds (ETFs), index funds, and futures contracts. These investment vehicles provide investors flexibility regarding investment size, cost efficiency, and convenience. Investors can choose the investment vehicle that aligns with their preferences and goals.

Currency Hedging Options

Some Nasdaq-100 investment options offer currency hedging, which can help mitigate the impact of currency fluctuations on international investments. Currency hedging can benefit investors who want to manage their currency risk exposure and focus solely on the performance of the underlying companies.

It’s important to note that investing in the Nasdaq-100 also carries risks, including market volatility, individual stock risk, and sector-specific risks. Before making any investment decisions, it’s advisable to conduct thorough research, evaluate your risk tolerance, and consult with a financial advisor to ensure the investment aligns with your financial goals and circumstances.

In today’s investment landscape, where generating attractive yields is a primary concern for many investors, high yield ETFs have emerged as promising options in Canada. In this post, we will delve into the world of high yield ETF, focusing on two distinct categories: covered call ETFs and split shares funds.

Covered call ETFs harness the power of options trading strategies to enhance income generation. By selling call options on their underlying securities, these ETFs aim to generate additional premium income for investors. On the other hand, split shares funds employ creative financial engineering techniques to divide dividends and growth into separate exchange vehicles, catering to both conservative and aggressive investors.

Throughout this discussion, we will explore the dividend yields and historical performance of these high-yield investments. Furthermore, we will conduct a comprehensive analysis, carefully examining the benefits and drawbacks of each investment type, enabling you to make informed decisions tailored to your investment goals and risk tolerance.

Split chares fund – Risks and rewards

What are Split Shares?

Split shares present an investment opportunity that can be advantageous for both cautious and bold investors, despite their initial intricacy. These distinctive financial instruments were created by dividing dividend-paying stocks into two separate exchange entities: preferred shares and Class A shares. Here is a detailed explanation of how they function:

Preferred shares cater specifically to conservative investors and provide a regular dividend determined by the issuing company. Notably, preferred shares do not entail any management expense ratio (MER), as this cost is covered by the Class A shares.

Conversely, Class A shares target daring investors who seek to leverage their investments. This leverage is achieved through the structural design of the product, rather than conventional borrowing methods. To better comprehend this concept, let’s simplify it using a few illustrations.

Summary table

Aspect	Preferred Shares	Class A Shares
Targeted Investors	Conservative investors	Aggressive investors
Dividend	Regular dividend set by the issuing company	No direct dividend; excess dividends and growth from preferred shares
Management Expense	No management expense ratio (MER)	MER paid by Class A shares
Leverage	Not based on borrowing money; structural leverage	Takes advantage of leverage through product design
Loss Impact	Draws from Class A shares to maintain dividend	Losses can be amplified; may reduce or halt dividend payments
Share Value	Generally sticks close to the issue price	Share value can fluctuate due to bidding on the stock exchange
Repurchase Option	Issuing company may buy back preferred shares	Preferred shares can be retained or repurchased by the issuing company
Term	Typically five-year term	–

High Yield ETF Canada – Split shares

Risks associated with split share funds

Unfortunately, many individuals are solely attracted to the potential for high returns without fully considering the underlying assets and associated risks with Split share funds.

Underlying asset is subject to market fluctuations

One aspect that is often overlooked is the risk of potential declines in asset value. Investments, including split share funds, are subject to market fluctuations, and the value of the underlying assets can decrease. Without recognizing this risk, investors may face unexpected losses if the market experiences a downturn.

During a financial crisis, the combination of investment losses and the need for cash flow can create a challenging situation. This is particularly relevant to split share funds, as they rely on the income generated from the underlying assets to distribute dividends to shareholders. If the value of the assets declines significantly, it may lead to reduced dividend payments, affecting investors who rely on those payments for their cash flow needs.

Concentration risk

Furthermore, investors should be aware that sector-focused split share funds, can be riskier compared to diversified portfolios. Concentrating investments in a specific sector increases vulnerability to sector-specific risks and market conditions. Diversification across multiple sectors can help mitigate this risk and provide a more balanced approach to investment. It’s important to note that fees associated with split share funds and similar investments tend to be on the higher side. These fees can erode overall returns, reducing the net gains that investors receive.

Limited potentiel growth

While split share funds offer the potential for extra income through covered call strategies, it is crucial to recognize that these strategies limit the upside growth potential. By writing covered call options, investors receive premiums but sacrifice the opportunity to fully benefit from any substantial price increases in the underlying security.

Moreover, writing covered call options restricts the amount a company can realize from the security. This restriction can impact portfolio returns, as potential profits from selling the security are limited by the call option agreement.

Canadian investors interested in split share funds should approach their investment decisions with a thorough understanding of these factors. It is advisable to educate themselves about investment principles, risk management strategies, and the specific features of split share funds.

Covered Call ETFs – Risks and rewards

Can you lose money on a Covered Call ETF?

The short answer is yes. Covered call ETFs are volatile and the returns depend greatly on the performance of the underlying asset. Even if you receive generous dividends, a low price performance of the ETF can wipe out all the benefits. It’s preferable to hold these type of ETFs for the long term.

Expected investment outcome with covered call ETFs

In a robust bull market, where the price of the underlying stock rises above the strike price plus the option premium, the covered call writer will underperform.

Due to earning the option premium, the covered call writer can normally anticipate to outperform merely holding the stock in flat, decreasing, and mildly rising markets.

	Covered call strategy
Bull Market	lags in terms of performance
Modest Bull Market	Outperforms the index
Volatile market (frequent ups and downs)	Outperforms the index
Beat market	Outperforms the index

High Yield ETF Canada – Covered call ETFs

10 Best Covered Call ETF Canada – High dividend yield

JEPI ETF REVIEW: JPMorgan Equity Premium Income

List of High Yield ETF Canada: Price and Dividend yield

TICKER	DIV YIELD
DGS -DIVIDEND GROWTH SPLIT CORP	23.67%
CEMI -CIBC EMERGING MKT EQUITY INDEX ETF UNIT	18.21%
FTN -FINANCIAL 15 SPLIT CORP	17.02%
DFN -DIVIDEND 15 SPLIT CORP	16.88%
PIC.A -PREMIUM INCOME CORP	16.52%
BK -CANADIAN BANC CORP	15.99%
HMAX -HAMILTON CDN FINANCIALS YD MAX ETF UNITS CL E	15.05%
ENCC -HORIZONS CDN OIL & GAS EQUITY COVER	14.95%
LCS -ROMPTON LIFECO SPLIT CORP	14.80%
CALL -EVOLVE US BANKS ENHANCED YIELD FUND HEDGED UNITS	14.15%
LBS -LIFE & BANC SPLIT CORP	13.81%
HYLD -HAMILTON ENHANCED US COVE CALL ETF UNIT UNHEDGED	13.02%
SBC -BROMPTON SPLIT BANC CORP	12.55%
NXF -CI ENERGY GIANTS COVERED CALL HEDGED COMMON UNITS	12.45%
GDV -GLOBAL DIVIDEND GROWTH SPLIT CORP	12.06%
QQCC -HORIZONS NASDAQ-100 COVERED CALL ET	11.82%
ZWK -BMO COVERED CALL US BANKS ETF CAD UNITS	11.79%
BANK -EVOLVE CDN BKS & LIFE ENHA YLD INX UNHEDGED UNIT	11.51%
HHLE -HARVEST HEALTHCARE LEADERS ENHANCED CL A UNITS	10.80%
HDIF -HARVEST DIVERSIFIED MONTHLY INC ETF UNIT CL A	10.65%
ENS -E SPLIT CORP	10.39%
PDV -PRIME DIVIDEND CORP	10.25%
ETHY -PURPOSE ETHER YIELD ETF ETF	10.10%
DS -DIVIDEND SELECT 15 CORP	10.05%
HUTE -HARVEST EQUAL WEIGHT GLOBAL UTILS CL A UNITS	10.05%
HDIV -HAMILTON ENHANCED MLTI SCTR COVE CA EL E UNIT	10.03%
BEPR -BROMPTON FLAHERTY & CRUMRINE ENHANC UNIT	10.00%
ETSX -EVOLVE S&P/TSX 60 ENHANCED YIELD FD UNHEDGED ETF UNITS	9.83%
CBNK -MULVIHILL CDN BK ENHANCED YIELD ETF UNIT	9.74%
BMAX -BROMPTON ENHANCED MUL ASSET INC ETF UNIT	9.67%

Source: Trading view – Forward dividend yield – As of June 30th – High Yield ETF Canada

Performance comparison – High Yield ETF Canada

TICKER	3-MONTH PERF	YTD PERF	YEARLY PERF	1-Y BETA
DGS	−1.55%	−11.67%	1.40%	2.10
CEMI	0.12%	0.85%	1.59%	0.40
FTN	−2.42%	−4.42%	−6.74%	0.82
DFN	−2.47%	−6.57%	−10.34%	0.92
PIC.A	−23.72%	−30.01%	−30.70%	0.82
BK	−1.50%	−1.58%	−4.38%	0.42
HMAX	−2.29%	−9.60%	−9.60%	0.85
ENCC	−1.13%	−7.06%	−10.15%	1.04
LCS	18.98%	36.63%	71.27%	2.68
CALL	−4.42%	−28.38%	−31.61%	1.48
LBS	0.12%	0.35%	−3.66%	0.91
HYLD	3.75%	4.71%	−6.04%	0.92
SBC	−13.33%	−16.87%	−16.65%	0.84
NXF	0.17%	−6.96%	0.35%	1.31
GDV	−2.93%	−7.01%	−6.66%	0.58
QQCC	5.95%	18.43%	14.80%	0.53
ZWK	−6.13%	−31.05%	−31.54%	1.23
BANK	0.94%	0.67%	−1.32%	1.20
HHLE	0.89%	−3.61%	0.59%	0.53
HDIF	1.14%	−0.50%	−4.32%	1.07
ENS	−0.53%	−0.86%	−0.20%	0.63
PDV	−5.41%	−17.65%	−33.33%	−0.57
ETHY	3.37%	37.67%	44.81%	1.38
DS	−11.08%	−13.42%	−17.96%	0.21
HUTE	−4.06%	−3.15%	−4.24%	0.64
HDIV	−0.38%	−0.70%	0.71%	1.13
BEPR	0.96%	−8.40%	−11.95%	0.46
ETSX	−0.71%	−2.83%	−2.83%	0.82
CBNK	−2.44%	−4.01%	−7.58%	1.16
BMAX	1.55%	−1.74%	3.16%	0.71

Source: Trading view – Forward dividend yield – As of June 30th – High Yield ETF Canada

Review of UMAX: Hamilton Utilities Yield Maximizer ETF (13% Target yield)

HDIF ETF review: Harvest Diversified Monthly Income ETF