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Investors navigating the world of Exchange-Traded Funds (ETFs) in Canada are often on the lookout for opportunities that align with their financial goals and risk preferences. In this comprehensive guide, we’ll delve into the realm of Index ETFs, specifically those tracking three influential indices: the S&P 500, NASDAQ 100, and the TSX. But first, let’s demystify the concept of Index ETFs. These funds have gained prominence for their ability to replicate the performance of specific market indices, offering investors a diversified and cost-effective approach to gaining exposure to various sectors and regions. In this blog post, we’ll not only unravel the essence of Index ETFs but also present a curated list of the best Canadian ETF funds, categorized by the indices they track.

Why Investors Favor Index ETFs?

Index ETFs directly compete with growth mutual funds, which charge management fees exceeding 2%, and in some cases, reaching 4%. When banks marketed mutual funds, they emphasized active and professional management with the goal of outperforming the benchmark they replicate. Over time, it became evident that the overwhelming majority of fund managers fail to beat the benchmark.

As Warren Buffet has indicated on several occasions, “Beating the index in the long term is very difficult, even for professionals.” A manager may outperform the index in the short term, but to beat it over the long term, they must anticipate the market for 10 years, a feat that approaches the miraculous.

S&P 500

The S&P 500, or the Standard & Poor’s 500, is a market-capitalization-weighted index of the 500 largest publicly traded companies in the United States.

The S&P 500 is an excellent index as most of its constituents are large, well-established American companies, providing diversification across various sectors of the U.S. economy. Widely considered the best measure of the performance of large-cap U.S. stocks, it can be easily used to express an opinion on the overall U.S. economy. In other words, if you are optimistic about the long-term performance of the U.S. economy, it’s likely the best index for you.

All ETFs replicating the performance of the S&P 500 will have the same securities in their assets and in approximately the same proportions as the index itself.

S&P 500 Portfolio and Sector Allocation

Title	Weighting (%)
Apple Inc.	5.72
Microsoft Corporation	5.25
Amazon.com Inc.	3.98
Facebook Inc. Class A	2.11
Alphabet Inc. Class A	1.84
Alphabet Inc. Class C	1.78
Tesla Inc	1.52
Berkshire Hathaway Inc. Class B	1.45
JPMorgan Chase & Co.	1.43
Johnson & Johnson	1.27

S&P 500 Official Website

S&P 500 Sector Allocation

Information Technology: 27.60%
Health Care: 13.44%
Consumer Discretionary: 12.70%
Communication Services: 10.79%
Financials: 10.34%
Industrials: 8.47%
Consumer Staples: 6.55%
Utilities: 2.73%

Nasdaq 100

The Nasdaq-100 is one of the leading large-cap growth indices globally, consisting of 100 of the largest non-financial national and international companies listed on the Nasdaq based on their market capitalization. This index is dominated by companies in the information technology sector.

S&P/TSX 60

An index composed of the 60 largest companies on the Toronto Stock Exchange, dominated by the energy and financial sectors.

S&P/TSX Capped Composite Index

This index includes over 200 top Canadian stocks, representing approximately 95% of the Canadian stock market. Constituent securities must meet minimum float-adjusted criteria and liquidity to be eligible and maintain their membership in the index. Index weights are capped at 10% of the float-adjusted market capitalization of the index and are reviewed quarterly.

FTSE Canada All Cap

The FTSE Canada All Cap Domestic Index is a market-capitalization-weighted index representing the performance of Canadian companies with large, medium, and small market capitalizations. As of February 28, this index included 178 member stocks.

Currency risk coverage

When a manager needs to replicate a U.S. index, such as the S&P 500 or the Nasdaq 100, they are required to acquire these assets in U.S. dollars. Consequently, the fund has to periodically convert the available funds in Canadian dollars into U.S. dollars. The impact of these conversions can be either favorable or detrimental, depending on whether the Canadian dollar has appreciated or depreciated.

Recognizing the desire of many investors to mitigate this currency risk, the majority of ETFs replicating a U.S. index provide a “hedged” version of their funds. In some cases, there is also another version exclusively traded in U.S. dollars. Hedging serves as a form of insurance against currency fluctuations. The scenarios outlined below illustrate the potential outcomes.

	Scenario 1: Value of Canadian $ appreciated	Scenario 2: Value of Canadian $ depreciated
Non hedged ETF	Index return Minus foreign exchange loss	Index return Plus foreign exchange gains
Hedged ETF	Index return	Index return
US $ ETF	Index Return The investor chooses when to convert	Index Return The investor chooses when to convert

Best Canadian ETF Funds

Best Index ETFs for the S&P 500

	MER	AUM
BMO S&P 500 Hedged to CAD Index –ZUE	0.09%	1,601
Horizons S&P 500 Index – HXS	0.10%	2,408
iShares Core S&P 500 Index – XUS	0.10%	3,615
iShares Core S&P 500 Index (CAD-Hedged) – XSP	0.10%	8,118
Vanguard S&P 500 Index – VFV	0.09%	5,310
Vanguard S&P 500 Index (CAD-hedged) – VSP	0.09%	1,915
BMO S&P 500 Index ETF (ZSP.TO) – ZSP	0.09%	9,658

Source Barchart – Best Canadian ETF Funds

Historical performance

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Updated daily

Canadian Stocks with Best Dividends

VFV vs XIU: Unveiling the Best ETF for Your Portfolio in 2023

Best Index ETFs for the TSX

Name	AUM	MER
Ishares S&P TSX 60 Index – XIU	10,1B	0.18
Ishares Core S&P TSX Capped Comp – XIC	9.4B	0.06
BMO S&P TSX Capped Comp – ZCN	7.2B	0.06
Horizons S&P/TSX 60™ INDEX – HXT	2.3B	0.03
Vanguard FTSE Canada All Cap – VCN	4.1B	0.05

Best Canadian ETF Funds

Source Barchart and TD Market research

Historical performance

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Updated daily

VFV vs VGRO – Full review and comparison

HXT ETF Review: Horizons S&P/TSX 60™ Index ETF

3 Popular Index ETF from Horizons

Best Index ETFs for the Nasdaq 100

Name	AUM	Fees
HXQ-U Horizons Nasdaq 100 Index USD	275	0.25
XQQ Ishares Nasdaq 100 Index	1,476	0.35
QQC-F Invesco QQQ Index	406	0.32
ZQQ BMO Nasdaq 100 Hedged To CAD Index	1,419	0.35

Best Canadian ETF Funds

Historical performance

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Do index funds pay dividends?

Yes, they do. Index Exchange-Traded Funds (ETFs) are structured to mirror the performance of a specific market index, and their dividends are sourced from the companies within that index. If the companies included in the index distribute dividends, the ETFs will pass on those dividends to their investors.

Understanding Dividend Yields

The dividend yield of an ETF is a crucial metric for investors looking for income-generating opportunities. It represents the annual dividend income expressed as a percentage of the ETF’s current market price. Examining the dividend yield is essential for investors seeking a balance between capital appreciation and regular income from their investments.

How to choose the right index fund

Selecting the most suitable index ETF involves a comprehensive examination of various factors to align with your financial goals and risk tolerance. Here are key considerations:

Determine Your Investment Goals:

Clearly define your investment objectives, whether they are centered around long-term growth, income generation, or capital preservation. Your goals will guide your choice of an ETF that aligns with your financial aspirations.

Understand the Underlying Index:

Index ETFs track specific market indices, such as the S&P 500, Dow Jones Industrial Average, or NASDAQ Composite. Understanding the components and methodology of the underlying index is crucial for assessing risk and potential returns.

Evaluate Expense Ratios:

The expense ratio (ER) represents the total costs charged by an ETF for managing the fund. Opt for funds with lower expense ratios, as this translates to a higher return on your investment.

Consider Liquidity:

Liquidity refers to an ETF’s ability to be bought or sold in the market without significantly affecting its price. High liquidity, characterized by a high trading volume, ensures ease of transactions and minimizes potential trading costs.

Analyze Diversification:

A well-diversified ETF spreads its investments across a variety of assets, reducing the impact of poor performance from a single investment. Evaluate the fund’s holdings to ensure it aligns with your risk tolerance and investment strategy.

Assess Historical Performance:

While past performance does not guarantee future results, analyzing an ETF’s historical performance can provide insights into its behavior under various market conditions. Consider how the ETF has performed in different market cycles.

Seek Professional Advice:

If you find yourself uncertain about which ETF suits your needs, consider consulting a financial advisor. A professional can provide personalized guidance based on your financial situation, helping you make informed investment decisions.

In conclusion, investing in index funds offers a diversified and relatively low-cost approach to gaining exposure to various market segments. Whether you’re a seasoned investor or just starting, understanding the intricacies of index ETFs and their dividend-paying capabilities is vital for constructing a well-balanced and effective investment portfolio.

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.

Welcome to a dive into the world of Canadian dividend stocks. In this discussion, we’ll explore three notable names from the Canadian Dividend Aristocrats list—recognized for their stability and consistent dividend performance. Join us as we examine these stocks, each presenting its unique blend of reliability and returns.

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.

VFV vs XIU: Unveiling the Best ETF for Your Portfolio in 2023

VFV vs VGRO – Full review and comparison

HXT ETF Review: Horizons S&P/TSX 60™ Index ETF

Canadian Stocks with Best Dividends

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Fortis:

Strengths:

Regulated Revenue Stream: Fortis derives approximately 99% of its revenue from regulated assets, providing a predictable and stable cash flow. This regulatory framework ensures a steady income stream, making it a reliable investment.

Utility Operations Expansion: Fortis has strategic plans for expanding its utilities operations through acquisitions and capital projects. This growth strategy aims to enhance the company’s overall performance and contribute to an annual increase in dividend yields by at least 6% through 2025.

Long-Standing Dividend Growth: With a history of raising dividends for 48 consecutive years, Fortis demonstrates a strong commitment to returning value to its shareholders. This long-standing dividend growth record is indicative of the company’s financial strength and stability.

Risks:

Moderate Dividend Yield: While Fortis has a consistent dividend growth history, its dividend yield may not be the highest in the Canadian market. Investors seeking higher yields may explore alternative options, impacting the stock’s attractiveness.

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3 Popular Index ETF from Horizons

HTA ETF: Full review of Harvest Tech Achievers Growth & Income

Enbridge:

Strengths:

Diversified Energy Operations: Enbridge’s extensive operations include midstream oil transportation, natural gas pipelines, and renewable energy projects. This diversification helps mitigate risks associated with fluctuations in a specific energy sector and contributes to stable cash flows.

Long-Term Dividend Growth: Enbridge boasts a remarkable 28-year history of annual dividend increases, showcasing its commitment to rewarding shareholders. The current dividend yield of 8% is particularly appealing to income-focused investors.

Focus on Renewable Energy: The company’s goal to increase exposure to renewable energy from 2% (2019) to 7% (2035) aligns with the growing emphasis on sustainable practices. This focus on green energy may attract environmentally conscious investors.

Risks:

Dependency on Commodity Prices: Enbridge’s earnings are influenced by commodity prices, and despite its contractual arrangements, fluctuations in oil and gas prices could impact profitability.

Project Development Risks: While Enbridge has numerous projects in development, the success of these ventures depends on regulatory approvals, market conditions, and execution. Delays or issues in project development could affect the company’s growth plans.

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BCE Inc.:

Strengths:

Dominance in Telecommunications: BCE is a major player in Canada’s telecommunications sector, serving 10 million customers, which constitute around 30% of the national market. This dominance provides a strong market position and revenue stability.

Media Segment Diversification: BCE’s involvement in the media sector diversifies its revenue streams, offering news and entertainment through various channels. This diversification contributes to a resilient business model.

Expansion into 5G Technology: BCE’s rapid expansion into 5G technology positions it well for future growth, tapping into the evolving landscape of high-speed and advanced wireless communication.

Risks:

Competitive Industry: The telecommunications industry is highly competitive, with the potential for pricing pressures and the need for continuous investment in technology to stay ahead.

Dependency on Regulatory Environment: BCE’s operations are subject to regulatory frameworks, and changes in regulations could impact the company’s profitability and strategic plans.

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Why invest in Canadian dividend aristocrats

If you are asking yourself, what is the typical profile of a dividend aristocrat stock? I have listed some common characteristics below:

Dividend aristocrats tend to dominate their industry

• The vast majority are companies that are well established in their sector. They manage to generate significant profits thanks to their comfortable position against the competition. They also sometimes operate in regulated markets such as electric utilities with almost no competition;

Safe heaven during turbulent times

• “Dividend aristocrats” are sometimes considered by the financial market as safe havens in the event of a market correction or decline. Indeed, dividend aristocrats are generally less volatile than the market, and there are less targeted by speculators;

Strong financial statements

• “Dividend aristocrats” will tend to have a better financial situation in terms of liquidity than the rest of the market. Their levels of liquidity or debt are generally better than the rest of the market;

Limited growth but there are exceptions

• In general, dividend aristocrats are mature businesses. That is, the growth potential is quite limited. However, some companies can pay dividends and invest in their growth. Usually, the dividend payout ratio is a good indicator. If the rate is low, it means the business is saving some money to grow. Business with high dividend pay out ratio have no financial resources left to grow.

What’s HBAL ETF?

The Horizons Balanced Asset Allocation HBAL ETF stands out as an all-in-one investment solution, encapsulating a comprehensive strategy within a single ETF. By seamlessly blending 60% global equity exposure for growth and 40% fixed income for stability, this diversified portfolio caters to investors seeking a holistic approach to long-term capital appreciation and a moderate income stream—all conveniently packaged in one ETF. Horizons ETF is a well-known fund provider specializing in exchange-traded funds. Their offerings encompass a diverse range of investment solutions across various asset classes.

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10 Best Covered Call ETF Canada – High dividend yield

Is a balanced All-In-ETF portfolio the right choice for you?

A balanced portfolio, typically composed of a mix of stocks and bonds, seeks to strike a harmony between growth potential and risk mitigation. Suited for investors with a moderate risk tolerance, it aims to deliver a blend of long-term capital appreciation from equities and stability through fixed-income investments. This approach is ideal for those seeking a middle ground, prioritizing a measured combination of growth and security in their investment strategy.

Other All-In-one ETFs offered by Horizons

Name	Number of holdings	Breakdown
Horizons Conservative TRI – HCON	7	40% Equity; 60% Bonds
Horizons Balanced TRI – HBAL	7	60% Equity; 40% Bonds
Horizons Growth TRI – HGRO	7	100% Equity

HBAL ETF – Performance comparison and analysis

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10 Best Dividend ETF in Canada 2023

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HBAL.TO (Horizons Balanced TRI ETF Portfolio) stands out with notable performance metrics. Despite having lower net assets at 138.20 million (M), it boasts an impressive 8.25% year-to-date (YTD) return, indicating strong short-term performance. Additionally, HBAL.TO exhibits a 6.29% 5-year average return, showcasing sustained positive returns over a more extended period.

What are the fees for HBAL?

The anticipated total management expense ratio (MER) for HBAL is around 0.20%, encompassing the costs associated with fund management. Additionally, the projected trading expense ratio (TER) for HBAL is expected to be 0.02%, reflecting the expenses linked to the buying and selling of assets within the fund.

How much is the dividend for HBAL?

HBAL pays dividends on a monthly basis.

Amount	Dividend Type	Ex-Div Date	Record Date	Pay Date

0.0300	Regular	9/28/2023	9/29/2023	10/6/2023
0.0300	Regular	8/30/2023	8/31/2023

HBAL ETF – Top 10 Holdings

Top 10 Holdings

Security Name	Weight
Horizons Cdn Select Universe Bond ETF (HBB)	24.73%
Horizons US Large Cap Index ETF (HULC)	22.23%
Horizons Intl Developed Mkts Eq Ix ETF (HXDM)	14.91%
Horizons US 7-10 Year Treasury Bond ETF (HTB)	14.79%
Horizons S&P/TSX 60 Index ETF (HXT)	12.17%
Horizons Emerging Markets Equity IdxETF C$ (HXEM)	6.05%
Horizons NASDAQ-100 Index ETF (HXQ)	5.10%

Best Canadian Bank Dividend Stocks

In this post, we will be going over 11 high dividend yields ETFs. All the ETFs selected pay over 6% in dividend yield! We will start by comparing the performance and MER. Then, we will discuss how to select the best ETF among the ones selected. for each ETF, we will provide all pertinent financial data.

How to analyze a high dividend ETF in Canada

Analyzing a high dividend ETF in Canada involves considering several key factors:

Total Return: Remember that an investment’s profit or loss results from both dividend income and capital gain or loss. It’s essential to assess the fund’s long-term performance, aiming for an ETF that offers satisfactory capital appreciation along with a high dividend yield.

Diversification: Opt for diversified ETFs whenever possible, as they tend to be safer. Some high-yield ETFs focus on specific sectors like Financials, Energy, or Gold. However, those concentrating on Energy and Gold have displayed poor long-term performance and come with high volatility risks.

Covered Call ETFs: It’s crucial to understand how high dividend ETFs achieve their impressive yields. Most of these ETFs utilize covered call options, allowing them to collect earned options premiums, which are then added to the dividends paid to investors. However, this strategy limits the upside potential of the ETF’s held stocks.

In summary, a covered call ETF tends to outperform competitors during market corrections but may underperform during market rallies. This strategy is particularly suitable for low volatility baskets of securities, but its effectiveness diminishes when applied to high volatility assets like gold and energy stocks.

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Volume and Liquidity: Consider the ETF’s volume and liquidity. ETFs with higher assets under management generally offer lower trading costs due to narrower bid-ask spreads.

Management Expense Ratio: Evaluate the Management Expense Ratio (MER) of the ETF. A lower MER can result in cost savings for investors over the long term.

Dividend yield and Beta comparison

Name	Div yield	MER
High Dividend Yield (Diversified)
ZWC – BMO CDN High Div Covered Call	6.63	0.72
HDIV -Hamilton Enhanced Multi-Sector Covered Call	9.58	na
HDIF -Harvest Diversified Monthly Income ETF	10.05	na
ZWH – BMO US High Dividend Covered Call	5.58	0.71
ZWS – BMO US High Dividend Covered Call Hedged to CAD	5.63	0.71
High Dividend Yield (Europe)
ZWE – BMO Europe High Div CC CAD Hedge	6.37	0.71
ZWP – BMO Europe High Div Cov Call	6.48	0.71
High Dividend Yield (Sector Focused)
LIFE – Evolve Global Healthcare Enhance Yld	6.42	0.68
CALL – Evolve US Banks Enhanced Yield	6.48	0.69
LIFE-B – Evolve Global Healthcare Enhance Yld Unheg	5.88	0.68
FIE – Ishares CDN Fin Mthly Income	5.85	0.89
HPF – Harvest Energy Leaders Plus Income	4.43	1.71

High dividend ETF Canada – Source: Barchart.com

Historical performance

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Source: Updated daily

Popular high dividend ETF Canada

Review of HPF Harvest Energy Leaders Plus Income ETF

Investment Strategy: Partially Covered Call Strategy for Income Enhancement and Downside Protection in the Energy Sector with a focus on Dividend Stocks

HPF has exhibited lackluster historical performance, even with its implemented covered call strategy. Concerns arise as dividends may not be secure, given the potential for major players in the energy industry to reduce their dividend payouts. If you maintain a positive outlook on energy stocks, it might be more prudent to hold them directly rather than investing in HPF. With HPF, the trade-off involves exchanging potential income for the prospect of growth.

Review of ZWC BMO CDN High Dividend Covered Call ETF

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ZWC stands out as a compelling choice for conservative investors seeking a stable income stream and minimal volatility. The utilization of the covered call strategy effectively boosts the yield, although it does impose constraints on long-term growth potential. It is crucial to bear this trade-off in mind when considering ZWC as an investment option.

Moreover, ZWC demonstrates tax efficiency as all its dividends originate from Canadian companies, which can be advantageous for tax-conscious investors.

Review of HDIV and HDIF

HDIV and HDIF pose robust competition to ZWC. These ETFs offer diversification across multiple sectors and employ the covered call strategy, combined with additional leverage, to achieve even greater dividend yields. However, it’s worth noting that as these two ETFs are relatively new, their performance history and Management Expense Ratios (MER) have not yet been made available.

Nonetheless, it’s almost certain that the MER for both HDIV and HDIF will exceed that of ZWC. This higher expense ratio is a trade-off for the enhanced yield generated through the additional leverage. Investors should be aware that while this leverage can boost returns, it also introduces heightened risk to their investment portfolios. Careful consideration and assessment of risk tolerance are advisable when evaluating these options.

Review of ZWE and ZWP – BMO Europe High Dividend CC CAD ETF

Investment Strategy: Covered Call Strategy for Income Enhancement and Downside Protection in the European Dividend Market

ZWE and ZWP represent attractive investment options that focus on high-quality European stocks, including companies such as Volkswagen and Nestlé. These ETFs employ a covered call strategy designed to safeguard against market downturns while simultaneously boosting yields.

It’s important to note that both ZWP and ZWE share identical portfolios, with the key distinction lying in their approach to currency risk management. ZWE employs Canadian hedging to mitigate exchange rate risk, while ZWP is a non-hedged ETF, meaning it does not employ currency hedging strategies. Investors should carefully consider their risk tolerance and currency exposure preferences when selecting between these two options.

Review of LIFE and LIFE-B Evolve Global Healthcare Enhance Yld ETF

Investment Strategy: Partially covered call strategy to enhance income and protect against downturn / Global / Healthcare / Dividend

LIFE and LIFE-B emerge as top-tier ETF options for those seeking exposure to the healthcare sector, with a particular focus on dividend yield. Their outstanding performance, notably during the pandemic, underscores their resilience in the face of market volatility. However, it’s worth noting that several analysts express concerns about the global healthcare sector’s current state, suggesting it may be overvalued. In light of this, a prudent approach might involve waiting for a market pullback before considering an investment.

Nevertheless, the long-term outlook for the healthcare industry remains positive, indicating potential for growth over time.

A key differentiator between the two ETFs is their approach to currency risk management: LIFE.B is non-hedged, while LIFE employs Canadian hedging to reduce exposure to exchange rate fluctuations. Investors should carefully assess their risk tolerance and currency risk preferences when choosing between these options.

Review of ZWH and ZWS BMO US High Dividend Covered Call ETF

The strategy used: Covered call strategy to enhance income and protect against downturn / US / Dividend

ZWH and ZWS present compelling investment options for individuals seeking exposure to a portfolio of high-quality US stocks while also desiring a reliable income stream. These ETFs implement a covered call strategy that, while it does impose limitations on potential growth, provides a valuable layer of protection in the event of a market downturn.

It’s essential to note that ZWS employs Canadian hedging to mitigate exposure to currency fluctuations, whereas ZWH is a non-hedged ETF. Investors should carefully evaluate their risk tolerance and currency risk preferences when deciding between these two offerings, as these factors can significantly impact the performance and stability of their investments.

Review of CALL – Evolve US Banks Enhanced Yield ETF

The strategy used: Partially covered call strategy to enhance income and protect against downturn / US / Banking / Dividend

CALL invests in major US Banks and seeks primarily to provide income through dividends and call premiums. The covered call strategy limits the ability of the fund to capture the growth in the US banking industry.

CALL is non hedged
CALL-B is Canadian hedged to reduce currency exchange risk.

Review of FIE – Ishares CDN Fin Monthly Income ETF

Strategy used: Canada / Banking / Dividend

FIE is primarily focused on investments in Canadian banks and does not employ a covered call strategy. It represents an attractive option for investors who hold a positive outlook on the Canadian banking sector and seek direct exposure to it. However, it’s worth noting that the Management Expense Ratio (MER) for FIE may be relatively high, especially given its limited holdings, which mainly consist of the six major Canadian banks.

HPF – Harvest Energy Leaders Plus Income

Harvest Energy Leaders Plus Income ETF is an equally weighted portfolio of 20 large global energy companies. The ETF is designed to provide a consistent monthly income stream with an opportunity for growth. In order to generate an enhanced monthly distribution yield, an active covered call strategy is engaged.

HPF High dividend ETF Holdings

Security	Weight %
Hess Corporation	5.1
Phillips 66	5.1
Valero Energy Corporation	5.0
Parkland Corporation	5.0
EOG Resources, Inc.	5.0
Suncor Energy Inc.	5.0
TC Energy Corporation	4.9
Pembina Pipeline Corporation	4.9
HollyFrontier Corporation	4.9
Enbridge Inc.	4.9
Equinor ASA	4.9
Exxon Mobil Corporation	4.9
ConocoPhillips	4.9

Consult issuer’s website for up-to-date data

ZWC – BMO CDN High Div Covered Call

The BMO Canadian High Dividend Covered Call ETF (ZWC) has been designed to provide exposure to a dividend focused portfolio, while earning call option premiums. The underlying portfolio is yield-weighted and broadly diversified across sectors.

The fund selection methodology uses 4 factors: – Liquidity; – Dividend growth rate; – Yield and payout ratio.

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.

The financial sector and Energy represents 56% of the total overall sector allocation.

ZWC High dividend ETF Holdings

Weight (%)	Name
4.96%	TORONTO-DOMINION BANK
4.91%	BCE INC
4.91%	ROYAL BANK OF CANADA
4.71%	CANADIAN IMPERIAL BANK OF COMMERCE
4.61%	BANK OF NOVA SCOTIA
4.24%	MANULIFE FINANCIAL CORP
4.20%	TRANSCANADA CORP
4.10%	ENBRIDGE INC
3.81%	BANK OF MONTREAL
3.77%	GREAT-WEST LIFECO INC

Consult issuer’s website for up-to-date data

ZWE and ZWP – BMO Europe High Div Covered Call

These 2 ETFs are part of the BMO Europe High Dividend Covered Call ETFs. They have been designed to provide exposure to a dividend focused portfolio. These dividend paying companies are selected based on:

dividend growth rate,
yield,
payout ratio and liquidity.

Their holdings include well known and mostly large cap European companies such as (Total, Volkswagen, Nestle…etc).

Both ZWP and ZWE have the same holdings. ZWE is Canadian hedged to reduce exchange risk. ZWP is a non hedge ETF.

ZWE and ZWP high dividend ETF Holdings

Weight (%)	Name
4.18%	VOLKSWAGEN AG PFD
3.99%	NESTLE SA
3.99%	UNILEVER PLC
3.96%	SIEMENS AG
3.85%	ALLIANZ SE
3.80%	RIO TINTO PLC
3.77%	TOTAL SE
3.74%	BASF SE
3.62%	NOVO NORDISK A/S
3.49%	LVMH MOET HENNESSY LOUIS VUITTON SE

Consult issuer’s website for up-to-date data

LIFE and LIFE-B – Evolve Global Healthcare Enhance Yld ETF

LIFE seeks to replicate the performance of the Solactive Global Healthcare 20 Index. This index equally weights 20 global healthcare companies.

LIFE ETF writes covered call options on up to 33% of the portfolio securities, at the discretion of the Manager. The level of covered call option writing may vary based on market volatility and other factors.

LIFE.B does not employ currency hedging and is suitable for investors comfortable with currency risk.

LIFE utilizes Canadian hedging to reduce exchange rate risk, making it a choice for investors seeking reduced exposure to fluctuations in exchange rates between the fund’s assets and the Canadian dollar.

Though LIFE ETFs offer a interesting yield, the performance was negative.

LIFE and LIFE-B high dividend ETF Holdings

NAME	WEIGHT	COUNTRY
Danaher Corp	5.18%	UNITED STATES
Novartis AG	5.12%	SWITZERLAND
Intuitive Surgical Inc	5.10%	UNITED STATES
CSL Ltd	5.08%	AUSTRALIA
AstraZeneca PLC	5.07%	BRITAIN
Pfizer Inc	5.01%	UNITED STATES
AbbVie Inc	5.01%	UNITED STATES
Medtronic PLC	4.92%	IRELAND
Sanofi	4.88%	FRANCE
GlaxoSmithKline PLC	4.86%	BRITAIN

Consult issuer’s website for up-to-date data

ZWH and ZWS – BMO US High Dividend Covered Call ETF

BMO US High Dividend Covered Call has been designed to provide exposure to a dividend focused portfolio, while earning call option premiums. The underlying portfolio is yield-weighted and broadly diversified across sectors. The Fund utilizes a rules-based methodology that considers the following criteria:

dividend growth rate,

yield,

payout ratio,

liquidity.

What’s unique about this ETF is that it uses covered calls to protect against downside risk. In my opinion, 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.

ZWS is Canadian hedged while ZWH is non hedged.

ZWH and ZWS High dividend ETF holdings

Weight (%)	Name
4.41%	BANK OF AMERICA CORP
4.32%	HOME DEPOT INC/THE
4.22%	CISCO SYSTEMS INC/DELAWARE
4.13%	JPMORGAN CHASE & CO
4.09%	INTERNATIONAL BUSINESS MACHINES CORP
4.07%	MICROSOFT CORP
3.91%	ABBVIE INC
3.83%	CHEVRON CORP
3.75%	AT&T INC
3.70%	PFIZER INC

Consult issuer’s website for up-to-date data

Holdings (ZWP) as of May 7^th

Weight (%)	Name	Bloomberg Ticker
98.86%	BMO US HIGH DIVIDEND COVERED CALL ETF	ZWH
1.14%	CASH	–

Consult issuer’s website for up-to-date data

CALL and CALL-B – Evolve US Banks Enhanced Yield ETF

Evolve US Banks Enhanced Yield ETF invests primarily in the equity constituents of the Solactive Equal Weight US Bank Index Canadian Dollar Hedged, while writing covered call options on up to 33% of the portfolio securities, at the discretion of the Manager. The level of covered call option writing may vary based on market volatility and other factors.

The index tracks the performance of major U.S. banks.

This ETF is available under two different tickers:

CALL: This version of the ETF is non-hedged, meaning it does not employ currency hedging strategies. Investors in CALL will be exposed to currency exchange risk, which can affect the fund’s returns if there are fluctuations in exchange rates between the fund’s underlying assets and the investor’s home currency.

CALL-B: This version of the ETF is Canadian hedged, indicating that it utilizes currency hedging techniques to mitigate currency exchange risk. Investors in CALL-B will have reduced exposure to fluctuations in exchange rates between the fund’s assets and the Canadian dollar.

CALL and CALL-B High dividend ETF Holdings

NAME	WEIGHT
Ameriprise Financial Inc	5.49%
US Bancorp	5.18%
Bank of America Corp	5.15%
Wells Fargo & Co	5.09%
PNC Financial Services Group Inc/The	5.04%
Citizens Financial Group Inc	5.02%
Western Alliance Bancorp	5.01%
KeyCorp	4.96%
First Republic Bank/CA	4.95%
Signature Bank/New York NY	4.93%

Consult issuer’s website for up-to-date data

GLCC – Horizons Enhanced Income Gold Prod ETF

HEP invests in North American listed companies that are primarily exposed to gold mining and exploration. The holdings at the time of each reset are the largest and most liquid issuers in their sector.

To mitigate downside risk and generate income, HEP will generally write covered call options on 100% of the portfolio securities. The level of covered call option writing may vary based on market volatility and other factors and is at the discretion of the manager.

HEP High dividend ETF Holdings

Security Name	Weight
NEWMONT CORP	8.31%
OSISKO GOLD ROYALTIES LTD	8.09%
PAN AMERICAN SILVER CORP	8.06%
FRANCO-NEVADA CORP	7.74%
ROYAL GOLD INC	7.74%
ANGLOGOLD ASHANTI LTD ADR	7.42%
ENDEAVOUR MINING CORP	7.06%
WHEATON PRECIOUS METALS CORP	6.78%
YAMANA GOLD INC	6.61%
KINROSS GOLD CORP	6.51%

Consult issuer’s website for up-to-date data

FIE – Ishares CDN Fin Mthly Income

Seeks to maximize total return and to provide a stable stream of monthly cash distributions. This fund has a high exposure to the financial sector. FIE is a Canadian dividend income ETF.

FIE ETF Holdings

Name	Weight (%)
ISHARES S&P/TSX CANADIAN PREFFERED	20.87
iShs Canadian Corp Bnd Idx ETF	10.17
CANADIAN IMPERIAL BANK OF COMMERCE	8.61
ROYAL BANK OF CANADA	8.30
MANULIFE FINANCIAL CORP	7.19
TORONTO DOMINION	7.09
SUN LIFE FINANCIAL INC	6.94
NATIONAL BANK OF CANADA	6.49
POWER CORPORATION OF CANADA	5.73
IA FINANCIAL INC	3.64

Consult issuer’s website for up-to-date data

Disclaimer

Introduction:

In the dynamic world of personal finance, students often find themselves in search of a banking solution that caters to their unique needs. Recognizing this, the BMO Performance Chequing Account emerges as a compelling option, tailored specifically for students. In this article, we delve into the features, benefits, and nuances of this financial product to help students make informed decisions about managing their finances during their academic journey.

Product Overview:

The BMO Performance Chequing Account for students is designed to provide a seamless banking experience with a range of exclusive perks. Let’s break down the key components:

Offer:

The account comes with a tempting opening offer—an attractive $100 cash bonus. This serves as an enticing incentive for students to kickstart their banking relationship with BMO. Additionally, during their time in school and one year after graduation, students can enjoy the luxury of no monthly fees, alleviating financial strain during this crucial period of academic pursuits.

Monthly Fees:

The absence of monthly fees while in school and during the initial post-graduation year is a significant advantage. This feature recognizes the financial challenges students face and aims to support them during their educational journey. Beyond this period, the account incurs a reasonable monthly fee, making it a sustainable choice for the long term.

Other Fees:

While the account boasts no monthly fees for a specified duration, it’s essential to be aware of potential fees associated with certain transactions. An overdraft protection fee of $5 per month is applicable. Moreover, the account includes one free Canadian withdrawal per month. Subsequent Canadian withdrawals are charged at $2 each. Transactions made outside of Canada and the U.S. incur a higher fee of $5 each. These fees underline the importance of understanding the terms and conditions associated with the account.

Number of Transactions:

One of the standout features of the BMO Performance Chequing Account is the unlimited number of transactions it offers. This is particularly advantageous for students who may have varied financial activities, from daily purchases to more infrequent, substantial transactions. The absence of transaction limits ensures that students can manage their finances without restrictions.

Benefits for Students:

Cash Bonus Incentive:

The $100 opening cash bonus serves as a generous welcome gesture. For students managing tight budgets, this injection of funds can be a valuable boost, helping cover initial expenses related to their education.

Fee Waiver Period:

The waiver of monthly fees while in school and for the first year post-graduation acknowledges the financial challenges students face during these periods. This feature reflects BMO’s commitment to supporting students in their educational endeavors.

Flexible Transaction Limits:

The unlimited number of transactions allows students to conduct their financial activities without worrying about hitting predefined limits. This flexibility is crucial for managing day-to-day expenses, online transactions, and occasional larger financial moves.

Conclusion:

The BMO Performance Chequing Account for students presents a compelling blend of incentives, fee waivers, and flexibility. The $100 cash bonus, coupled with the absence of monthly fees during crucial academic phases, positions this account as an attractive option for students

In an era defined by technological transformation, the rise of Artificial Intelligence (AI) stands as one of the most profound shifts in the global landscape. AI, once confined to the realm of science fiction, has become a driving force behind innovation, reshaping industries. As the world becomes increasingly reliant on AI-driven solutions, the AI sector is presenting investors with a wealth of opportunities. In this blog post, we’ll explore four Best AI stocks poised for exponential growth, delving into their promising prospects.

Meta Platforms (NASDAQ:META)

Profile

Meta Platforms, Inc. is a global company focused on creating products that facilitate connections and sharing among individuals across various platforms, including mobile devices, personal computers, virtual reality headsets, and wearables.

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Summary

Meta Platforms, the parent company of Facebook, has experienced a remarkable surge in its stock price, soaring by almost 200% over the past year. This impressive growth is largely attributed to the company’s strategic investment in artificial intelligence. That investment has enabled it to navigate and overcome the challenges related to data privacy.

One noteworthy financial highlight is the substantial growth in diluted earnings per share (EPS), which has outpaced the growth in operating income, registering an impressive 21% year-over-year increase. This remarkable performance can be partly attributed to Meta’s aggressive share repurchase program, which benefits current shareholders.

However, despite these positive trends, there are several key concerns looming on the horizon for Meta Platforms. The ongoing Department of Justice (DOJ) antitrust trial against Google has raised questions about potential regulatory actions. The potentiel actions could impact Meta and its market dominance. Additionally, the company is facing profitability headwinds, which pose challenges to sustaining its current growth trajectory. Furthermore, the expanded valuation of Meta’s stock raises questions about its long-term sustainability and whether it can continue to justify its current market value in the face of these challenges.

Source: Earnings presentation – Best AI stocks

Meta observed a 1.4% sequential growth in its monthly active users (MAUs) on the Facebook platform.

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

UiPath Inc. (NYSE:PATH)

Profile

UiPath Inc. is a prominent enterprise software company renowned for its comprehensive automation platform specializing in robotic process automation (RPA). With a strong presence in the United States, Romania, and Japan, UiPath revolutionizes business operations by leveraging RPA technology. RPA involves the utilization of software robots or digital workers to streamline and automate repetitive, rule-based tasks. Traded on the New York Stock Exchange under the ticker symbol PATH, UiPath Inc. is at the forefront of innovation in the field of automation solutions.

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Summary

UiPath, trading under the ticker symbol PATH, stands as a prominent player in the enterprise software arena, renowned for its state-of-the-art robotic process automation (RPA) platform, underpinned by advanced AI technology. This RPA innovation not only aids corporations like Uber Technologies, Inc. (UBER) in cost reduction but also propels UiPath to the forefront of the automation industry. The company’s strategic alliances with major industry players have further cemented its leadership position.

Currently, UiPath is shifting towards a business automation platform with AI at its core. This strategic pivot furnishes the company with a distinct competitive advantage, particularly in terms of harnessing data and delivering user-friendly solutions.

From a financial standpoint, UiPath exhibits robust stability, characterized by an absence of debt and substantial cash reserves. In addition, the recorded consistently positive free cash flow. This financial prowess empowers the company to allocate resources towards vital research and development (R&D) initiatives and seize opportunities for mergers and acquisitions (M&A). These endeavors not only propel UiPath’s growth but also drive ongoing innovation within the automation sector.

Salesforce (NYSE:CRM)

Profile

Salesforce, a trailblazer in the realm of Customer Relationship Management (CRM), leverages the power of cloud computing and artificial intelligence (AI) to champion customer success. The company’s comprehensive suite of services encompasses sales functionalities like data storage, lead tracking, progress monitoring, opportunity forecasting, analytics-driven insights, relationship intelligence, and the seamless generation of quotes, contracts, and invoices. In addition, Salesforce’s service arm empowers businesses to provide trustworthy and deeply personalized customer service and support on a large scale, ensuring the highest levels of customer satisfaction.

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Summary

Salesforce (CRM) presents an enticing investment prospect with its combination of robust profitability, consistent double-digit revenue growth, and a strategic emphasis on AI-driven productivity. In its recent Q2 earnings report, Salesforce not only exceeded expectations but also revised its full-year guidance upward. This impressive performance is fueled by strong demand for the company’s AI tools seamlessly integrated throughout its software ecosystem, highlighting Salesforce’s promising position in the market.

Full list of ‘Dividend Kings’ stocks by sector – 2023

Okta, Inc. (NASDAQ:OKTA)

Profile

OKTA is a cloud-based cybersecurity company specializing in user identity authentication and management across various devices. Their Workforce Identity Cloud empowers organizations to enhance workforce security and establish secure collaborative solutions with partner networks.

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Summary

Okta (OKTA), a pioneer in identity management and single sign-on technology, has enjoyed a remarkable 30% surge in its stock price this year. This surge is indicative of the success of the company’s strategic shift towards becoming a comprehensive provider in the identity security market, and it suggests that its turnaround efforts are moving in a positive direction.

However, there is a noteworthy concern that has emerged over the past year: a slowdown in customer growth. In the second quarter, Okta was able to onboard 350 new customers, representing a growth rate of 12%, bringing its total customer base to 18,400. Despite these challenges in customer growth, Okta has demonstrated strong sales momentum and profitability, effectively acquiring new customers and expanding billing with existing ones.

It’s essential to acknowledge that Okta’s current valuation is relatively high. This valuation reflects the market’s optimism and high expectations regarding the company’s future potential and growth prospects.

Global X is one of the largest ETF issuers in North America. In this post, we will focus on their covered call ETFs whose main objective is to maximize dividend yield. In fact, Covered call ETFs are more and more popular among income oriented investos. Global X had issued various ETFs within this category with different strategies to cater to most investors.

List of High income Vanguard covered call ETFs

High income ETFs from Vanguard

DJIA -Global X Dow 30 Covered Call ETF

QYLD -Global X NASDAQ 100 Covered Call ETF

XYLD -Global X S&P 500 Covered Call ETF

RYLD -Global X Russell 2000 Covered Call ETF

QYLG -Global X Nasdaq 100 Covered Call & Growth ETF

XYLG -Global X S&P 500 Covered Call & Growth ETF

BMO Covered call ETF list – Full comparison

JEPI ETF REVIEW: JPMorgan Equity Premium Income

Strategy: summary table

	Covered Call ETFs DJIA, QYLD, XYLD, RYLD	Covered Call & Growth ETFs QYLG, XYLG
Strategy Overview	Buy reference index components, write monthly At The Money index calls on 100% of the fund’s portfolio in an effort to maximize income.	Buy reference index components, write monthly At The Money index calls on 50% of the fund’s portfolio for income with some upside potential.
ETFs	DJIA, QYLD, XYLD, RYLD	QYLG, XYLG
Strategy	Sells At The Money Covered Calls (on 100% of assets) 100% of the upside is forfeited	Sells At The Money Covered Calls (on 50% of assets) 50% of the upside is forfeited
Dividend Frequency	Monthly	Monthly

Asset under management and inception date

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Performance comparison

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Dividend yield comparison

Symbol	Div Yld	MER
DJIA	11%	0,61
QYLD	13.74%	0,61%
XYLD	13.42%	0,60%
RYLD	13.50%	0,55%
QYLG	6.89%	0,61%
XYLG	6.43%	0,60%

Source: TD Market research and Yahoo Finance

Full list of ‘Dividend Kings’ stocks by sector – 2023

PFF ETF Review: US Preferred Stock Ishares

QYLD -Global X NASDAQ 100 Covered Call ETF

QYLD is a passive index ETF that uses a covered call strategy to enhance yield and lower volatility. The fund was created by Global X and tracks the Nasdaq 100. The manager follows a “covered call” or “buy-write” strategy, in which the Fund buys the stocks in the Nasdaq 100 Index and “writes” or “sells” corresponding call options on the same index.

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Is QYLD a good investment?

When it comes to investing, finding the right balance between risk and reward is a constant pursuit. The QYLD ETF, or the Global X NASDAQ 100 Covered Call ETF, is an investment option that has captured the attention of both conservative investors and income seekers. In this exploration, we delve into the positives and drawbacks of QYLD, shedding light on its unique attributes.

Positives: Embracing Income and Stability

Attractive Yield: QYLD is often celebrated for its attractive yield, which is primarily derived from the premiums earned by issuing call options on the NASDAQ 100 index. For those seeking a regular income stream, this feature can be enticing, offering a consistent source of cash flow.

Lower Volatility: Another notable advantage of QYLD is its lower volatility when compared to direct investments in the NASDAQ 100, such as QQQ. The covered call strategy embedded in the fund serves as a cushion, effectively reducing overall volatility. This quality makes it particularly appealing to conservative investors who prioritize capital preservation.

Time and Effort Saved: QYLD provides a valuable shortcut for investors. Writing call options in the NASDAQ 100 involves extensive research, active management, and ongoing monitoring. QYLD simplifies this process by offering a professionally managed covered call strategy, saving investors both time and effort.

Liquidity: With assets under management surpassing 6 billion dollars, the fund offers liquidity that ensures investors can efficiently trade shares as needed.

Drawbacks: Considerations on Performance and Diversification

Performance Limitations: While QYLD excels in income generation and risk reduction, it’s important to recognize that this strategy has its limitations. The covered call approach inherently places a cap on the fund’s potential for capital appreciation. As a result, investors may miss out on the full upside potential of the NASDAQ 100, particularly during robust market rallies.

Market Unpredictability: In the face of an unpredictable or highly volatile market, the effectiveness of covered call strategies like the one employed by QYLD may be challenged. While it serves as a risk management tool during stable market conditions, extreme fluctuations can render the strategy less effective.

Lack of Diversification: QYLD’s dominance by tech firms means it falls short of offering true diversification. Investors looking for a broad spectrum of investments beyond the tech sector may find this aspect limiting.

High Fees: It’s worth noting that QYLD comes with a total expense ratio of 0.60%, which some investors may find relatively high compared to other ETF options.

In conclusion, the QYLD ETF presents a unique investment proposition with its emphasis on income generation and risk management. However, it’s crucial for investors to weigh these advantages against the potential limitations and consider their individual financial objectives and risk tolerance. The decision to invest in QYLD should align with one’s investment strategy and goals, keeping in mind the trade-offs involved in pursuing income and stability in a dynamic market landscape.

Volatility comparison: QYLD has a lower volatility than the NASDAQ 100 (source of graphic: portfoliolabs.com)

In bear markets, QYLD protects investors and in normal circumstances will offer a better performance than the NASDAQ 100. The graphic depicts growth of 10K invested in the past 6 Months

QYLD Top ten holdings

Net Assets (%)	Name
11.85	APPLE INC
11.79	MICROSOFT CORP
6.54	AMAZON.COM INC
3.91	ALPHABET INC-CL C
3.88	ALPHABET INC-CL A
3.66	NVIDIA CORP
2.75	TESLA INC
2.72	META PLATFORMS INC
2.08	PEPSICO INC
2.03	BROADCOM INC

XYLD -Global X S&P 500 Covered Call ETF

XYLD is a passive index ETF that uses a covered call strategy to enhance yield and lower volatility. The fund was created by Global X and tracks the S&P500. The manager follows a “covered call” or “buy-write” strategy, in which the Fund buys the stocks in the S&P 500 Index and “writes” or “sells” corresponding call options on the same index. So far, XYLD has paid monthly distributions 9 years running.

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Is XYLD a good investment?

The XYLD ETF, or the Global X S&P 500 Covered Call ETF, presents a compelling investment option with a range of benefits that cater to various investor preferences. This ETF employs a covered call strategy on the S&P 500, offering a unique blend of income generation and risk management.

One of the most appealing features of XYLD is its attractive yield, primarily derived from the premiums earned by issuing call options on the S&P 500. For income-seeking investors, this regular income stream can be an attractive proposition, offering consistent cash flow.

What sets XYLD apart is its lower volatility when compared to directly investing in the S&P 500 through ETFs like SPY. The covered call strategy acts as a buffer, helping to reduce the fund’s overall volatility. This characteristic makes it particularly well-suited for conservative investors who prioritize capital preservation.

It’s worth noting that higher market volatility often translates into increased premiums earned by the fund. This dynamic can further enhance the yield potential for XYLD, making it an enticing option during turbulent market conditions.

Additionally, XYLD can save investors valuable time and effort. If you were to take on the task of writing call options on the S&P 500 yourself, it would require substantial research, monitoring, and active management. XYLD simplifies this process by offering a diversified investment strategy that automatically implements the covered call approach.

Liquidity is another advantage of XYLD. With over 6 billion dollars in assets under management, the fund offers ample liquidity, ensuring that investors can efficiently buy and sell shares as needed.

In summary, the XYLD ETF presents a diversified investment opportunity that combines an attractive yield, lower volatility, and the convenience of a professionally managed covered call strategy. This blend of features makes it an appealing choice for conservative investors, income seekers, or those looking to streamline their investment approach.

Volatility comparison: XYLD has a lower volatility than the S&P 500 (source of graphic: portfoliolabs.com)

Negatives

However, it’s essential to be aware of a couple of potential drawbacks. Firstly, while the ETF’s strategy is effective in generating income and reducing volatility, it does mean that investors may miss out on the full upside potential of the S&P 500. The covered call strategy inherently places a cap on the fund’s potential for capital appreciation, which can be a trade-off for the income it provides.

Secondly, it’s important to acknowledge that the strategy of covered calls may become less effective in an unpredictable or highly volatile market. While it can act as a risk management tool during normal market conditions, extreme fluctuations can challenge the effectiveness of this approach.

Top Holdings

Net Assets (%)	Name
6.28	APPLE INC
5.37	MICROSOFT CORP
2.58	AMAZON.COM INC
1.73	ALPHABET INC-CL A
1.71	BERKSHIRE HATH-B
1.55	ALPHABET INC-CL C
1.43	EXXON MOBIL CORP
1.41	UNITEDHEALTH GROUP INC
1.38	JOHNSON & JOHNSON
1.30	NVIDIA CORP

RYLD -Global X Russell 2000 Covered Call ETF

RYLD is an index ETF with an active covered call strategy in place to enhance yield. The index tracked is the Russell 2000, which consists of small to mid cap stocks. This fund is different than XYLD or QYLD because the focus here is not on large cap stocks. When investing in small caps, investors hope usually for higher growth. Small caps are also known to outperform large caps in begenning of the growth phase of the economy.

RYLD writes call options on the Russell 2000 Index (a succession of one-month at-the-money covered call options). The fund does not use leverage.

The Russel 2000 top three holdings are Ovintiv, Avis Budget Group, and Antero Resources.

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Top Holdings

Net Assets (%)	Name
31.40	VANGUARD RUSSELL 2000 ETF
0.23	IRIDIUM COMMUNIC
0.23	CROCS INC
0.22	INSPIRE MEDICAL
0.21	HALOZYME THERAPEUTICS INC
0.21	MATADOR RESOURCES CO
0.21	EMCOR GROUP INC
0.21	TEXAS ROADHOUSE INC
0.20	RBC BEARINGS INC
0.20	AGREE REALTY CORP

QYLG -Global X Nasdaq 100 Covered Call & Growth ETF

As shown in the table above, summary of strategies. This fund is one of the ETFs whose objective is to seek both growth and income. Therefore, the strategy in place uses covered call options, however, on only 50% of the portfolio. In other words, QYLG is similar to QYLD but it will offer less dividends and more room for growth. Besides, in normal market conditions, QYLG will be more volatile than QYLD.

As its name implies, QYLG is an index fund and is replicating the portfolio constituents of the Nasdaq 100.

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Top Holdings

Net Assets (%)	Name
11.84	APPLE INC
11.78	MICROSOFT CORP
6.54	AMAZON.COM INC
3.91	ALPHABET INC-CL C
3.87	ALPHABET INC-CL A
3.66	NVIDIA CORP
2.75	TESLA INC
2.72	META PLATFORMS INC
2.07	PEPSICO INC
2.02	BROADCOM INC

XYLG -Global X S&P 500 Covered Call & Growth ETF

As shown in the table above, summary of strategies. This fund is one of the ETFs whose objective is to seek both growth and income. Therefore, the strategy in place uses covered call options, however, on only 50% of the portfolio. In other words, XYLG is similar to XYLD but it will offer less dividends and more room for growth. Besides, in normal market conditions, XYLG will be more volatile than XYLD.

As its name implies, XYLG is an index fund and is replicating the portfolio constituents of the S&P 500.

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XYLG – Top Holdings

Net Assets (%)	Name
6.23	APPLE INC
5.33	MICROSOFT CORP
2.56	AMAZON.COM INC
1.71	ALPHABET INC-CL A
1.69	BERKSHIRE HATH-B
1.53	ALPHABET INC-CL C
1.41	EXXON MOBIL CORP
1.39	UNITEDHEALTH GROUP INC
1.37	JOHNSON & JOHNSON
1.29	NVIDIA CORP

XYLG – Sector allocation

SECTOR	WEIGHT (%)
Information Technology	25.6
Health Care	15.9
Financials	11.6
Consumer Discretionary	9.8
Industrials	8.8
Communication Services	7.3
Consumer Staples	7.2
Energy	5.2
Utilities	3.2
Materials	2.7

DJIA -Global X Dow 30 Covered Call ETF

This fund allows investors to track 30 Dow stocks and generate income through issuing covered call options. DJIA is less diversified than XYLD, since the S&P 500 is much larger and broader than the Dow 30.

The 30 companies making up the index are mostly bluechips.

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DJIA Top 10 holdings

The BMO Covered Call U.S. Banks ETF (ZWK) is professionally managed by BMO Global Asset Management. The fund has been designed to provide exposure to a portfolio of U.S. banks while earning call option premiums.

The fund invests in 38 US Banks. It’s ideal for investors looking for dividend income. The dividend yield on November 24th was 6.19%!

The fact that the fund uses call options accomplishes two things:

increases the dividend yield;
reduces volatility but also growth potential. So, it’s something to keep in mind.

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What’s a covered call ETF?

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

Historical performance

ETF	Div Yld
ZWK	7.60%

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Historical performance updated daily

Best US Dividend ETFs in Canada (2023)!

ZWB MER

ETF	MER* %
ZWK -BMO Covered Call US Banks	0.72

Top 10 Best Growth ETF in Canada!

XIC vs XIU: Best Canadian Index ETFs

ZWK Stock Profile

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Updated daily

ZWK Stock 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).

ZWK Dividend history

Distrib Period	Ex-Div Date	Pay Date	Cash Distrib Per Unit	Total Distrib Per Unit
January 2023	January 27, 2023	February 02, 2023	0.170000	0.170000
February 2023	February 24, 2023	March 02, 2023	0.170000	0.170000
March 2023	March 29, 2023	April 04, 2023	0.170000	0.170000
April 2023	April 26, 2023	May 02, 2023	–	–
May 2023	May 30, 2023	June 05, 2023	–	–

ZWK ETF Holdings

Weight (%)	Name	Ticker
7.56%	CITIGROUP INC	C
7.31%	GOLDMAN SACHS GROUP INC/THE	GS
7.30%	JPMORGAN CHASE & CO	JPM
7.24%	MORGAN STANLEY	MS
7.21%	BANK OF AMERICA CORP	BAC
7.18%	US BANCORP	USB
7.10%	WELLS FARGO & CO	WFC
6.29%	TRUIST FINANCIAL CORP	TFC

Consult issuers’ website for up-to-date data

In this post, we will be going over the Best Canadian Dividend Stocks Canada (Top 10). We started by reviewing the full list of the Canadian dividend aristocrats with over ten years of consistently increasing dividends. From the list, we picked ten stocks which we think are the best available in Canada right now.

Canadian dividend aristocrats

The list of Canadian ”Dividend Aristocrats” stocks is managed by the firm Standard and Poors. The index is titled the S&P Canadian Dividend Aristocrats. It requires a minimum of 5 years of successive dividend increases, which is low compared to the minimum 25 years for the US version of the index. You can check out our article on America’s Dividend Aristocrats here by sector.

For this post, we will share the list of Canadian “dividend aristocrats” stocks that have increased their dividends for at least ten consecutive years! In addition, we will also pick ten stocks among the ones most recommended by income-seeking bloggers. For each, we will provide financial data and analysis.

18 Best Monthly Dividend Stocks in Canada for passive income

8 Best Covered Call ETF Canada – High dividend yield

Why invest in dividend aristocrats

If you are asking yourself, what is the typical profile of a dividend aristocrat stock? I have listed some common characteristics below:

Dividend aristocrats tend to dominate their industry

• The vast majority are companies that are well established in their sector. They manage to generate significant profits thanks to their comfortable position against the competition. In some cases, they operate in regulated markets such as electric utilities with almost no competition;

Safe heaven during turbulent times

Strong financial statements

Limited growth but there are exceptions

• In general, dividend aristocrats are mature businesses. That is, the growth potential is quite limited. However, some companies can pay dividends and invest in their growth. Hence the importance of focusing on the dividend payout ratio.

What is a good dividend payout ratio

How to interpret a payout ratio

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;

Total return

Best canadian dividend stocks – full list

The table below lists the Canadian Dividend Aristocrats. Stocks are ranked by the number of successive years of dividend increase. These stocks are considered the best dividend stocks in Canada.

Symbol – Name	DGR* Streak
CU –Canadian Utilities	49
FTS -Fortis	47
TIH -Toromont Industries	31
CWB –Canadian Western Bank	29
ACO.X -Atco Ltd	27
TRI -Thomson Reuters Corp	27
IMO -IMPERIAL OIL	26
MRU – Metro Inc	26
EMP.A -Empire Company (A)	26
ENB.TO – Enbridge	25
CNR -Canadian National R.R.	25
SAP – Saputo Inc	23
TRP – TC Energy	20
CNQ -Canadian Natural Rsrcs	20
TCL.A -Transcontinental Inc. (A)	19
FTT – Finning Int	19
CCL.B -CCL Industries (B)	19
RBA -Ritchie Bros Auctioneers	18
T – Telus	17
CCA -Cogeco Cable	17
CGO – COGECO Inc	16
IFC – Intact Financial	16
SJ – Stella-Jones Inc.	16
XTC– Exco Technologies	15
ADW.A – Andrew Peller	15
EMA – Emera Inc	14
ENGH – Enghouse Systems	14
BYD -Boyd Group Services	14
FNV – Franco-Nevada Corp.	13
TCS – Tecsys Inc	13
BCE – BCE Inc	12
NA – National Bank	11
MG – Magna Int’l. (A)	11
LGT.B – Logistec Corp	11
ATD.B –Alimentation Couche-Tard	11
WCN -Waste Connections	11
KEY -Keyera Corp	10
EIF -Exchange Income	10
CM -CIBC Bank	10
BNS -Bank of Nova Scotia	10
AQN- Algonquin Power and Utilities Corp	10
TD – TD Bank	10
GRT.UN -Granite Real Estate Investment Trust	10
RY -Royal Bank	10
CTC.A -Canadian Tire Corp Cl A NV	10
GCG.A -Guardian Capital Gr	10
HDI -Hardwoods Distribution	10
EQB -Equitable Group Inc	10
TFII -Tfi International Inc	10
DOL -Dollarama Inc	10

Best dividend stocks Canada

* Number of years of successive dividend increases

The stocks below are the ones most recommended by Canadian bloggers. We present you the relevant financial information with our comments and analysis.

Canadian Utilities stock

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Canadian Utilities Limited and its subsidiaries are engaged in the electricity, natural gas, and retail energy industries. Canadian Utilities has increased its dividends continuously for 49 years!

Analysts see weak growth for this stock in the future. One can also question the ability of Canadian utilities to increase their dividends in the future since the pay-out ratio is high. Remember that when interest rates rise, utility companies compete with bonds; conservative investors tend then to drop utilities for bonds, causing a sell-off of utility stocks.

Fortis stock

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Fortis Inc. operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries.

Analysts recommend Fortis for anyone looking for stable and predictable dividend income. Fortis has increased its dividends for 47 consecutive years. The company serves more than 2.2 million electricity customers and 1.1 million gas utility customers. Fortis offers a good dividend yield and a decent dividend growth rate (6.79% over the last five years).

In an effort to boost growth, Fortis is diversifying its portfolio assets to include clean energy and renewable energy sources.

Toromont industries stock

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Toromont Industries Ltd. supplies specialized capital goods in Canada, the United States, and abroad. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment is engaged in the sale, rental, and maintenance of mobile equipment. The CIMCO segment is involved in the design, engineering, manufacture, installation, and aftermarket support of refrigeration systems in the industrial and recreational markets.

Toromont is a well managed company that frequently beats market estimates. This stock is perfect if you want to have a combination of dividend income and growth potential. It’s a long-term buy.

The company has continuously increased its dividends for over 31 years. Over the past five years, the dividend has increased by 13%.

Enbridge stock

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Enbridge is responsible for transporting a quarter of the oil produced in North America through its extensive pipeline system. The company also transports one-fifth of the natural gas used in the United States.

Enbridge is often part of the best dividend stocks in Canada. And for a good reason! Despite a high dividend rate and sometimes bad economic conditions, the company has never reduced its dividends and continues to increase them.

Analysts agree on the low growth potential for ENB. However, Enbridge remains a business with stable income stemming from an existing pipeline system.

Canadian National Railway stock

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The Canadian National Railway Company is active in the rail and related transportation industry. The company operates a 19,500-mile road network spanning Canada and the United States. Among other things, it transports petroleum and chemicals, grains and fertilizers, coal, metals and minerals, and forest products.

Canadian National Railway has diversified revenues across several product lines. Although the rate of return is low at 1.62%, the company is recording an exciting dividend growth rate of 13% over five years.

Telus stock

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Telus provides a range of telecommunications products and services, including wireless and wired voice and data. The company has approximately 11 million subscribers.

T.TO has been increasing its dividends for 17 years now.

The pandemic has reduced the company’s revenue, mainly the profits made on the “Roaming” calls/data used while traveling. The dividend payout ratio is worrying at 132%. It’s worth noting, the payout ratio to cash is 76%. The latter is considered a better measure of the sustainability of the dividends.

National Bank stock

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National Bank is the sixth-largest bank in Canada. It has a strong presence in Quebec.

NA was the best-performing stock this year among banking stocks. The company has a dividend rate of return of 2.79% with good growth potential. Dividends have grown by almost 7% over the past five years.

National Bank is recognized for its dynamism and continues to grow outside Quebec.

TD Bank stock

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TD Bank is one of the largest Canadian banks. The dividend rate of return stands at 3.63%, with impressive growth over the last five years at around 9%.

The company has increased its dividends every year for the past ten years now. The banking sector has shown a substantial rise since the almost normal recovery of economic activity in North America.

Algonquin Power And Utilities stock

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AQN is very well managed and has one of the strongest growth profiles in the industry. The valuation is attractive. Investors faced with the risk of rising interest rates are beginning to lose interest in companies that provide regulated public services.

Alimentation Couche-Tard stock

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Dividend growth is exciting at 21%. The rate of return is relatively low at 0.73%. Couche-Tard is a company that aims for long-term growth mainly through acquisitions, and the potential is there. Less than 25% of convenience stores in North America are part of a chain.

Couche-Tard managed to soften the impact of the pandemic with high margins in the petroleum products sales. The increased margin compensated for lower sales. This being said, these margins are not sustainable long term.

EV market is growing and Couche-Tard knows it will hurt its bottom line. The company is already starting to rethink its products mix to adapt to this new trend.

Investing in an AI ETF can be a good way for investors to gain exposure to the potentially high-growth exponential technology sector without having to invest in individual Artificial Intelligence stocks. ETFs provide diversification by spreading your investment across multiple companies, which can help to reduce risk. In this post, we will discuss the most popular ETFs that give investors exposure to the AI sector (AI ETF List).

Artificial Intelligence

The digital revolution has given rise to artificial intelligence (AI), a disruptive technology that has a high potential for growth and is attracting the attention of asset managers as a means of achieving better performance. This technology enables machines and software to think like humans, and according to experts, it is a silent revolution that is already causing changes in various sectors and opening up new opportunities for development.

The AI market was worth $200 million in 2015, and it is projected to reach almost $90 billion by 2025, potentially adding up to €13.5 trillion to the global economy by 2030, as per PwC’s analysis. Accenture’s study from 2016 suggests that AI could increase global productivity by 40% by 2035, allowing workers to focus on more fulfilling tasks. Furthermore, according to the World Economic Forum, AI has the potential to create 133 million jobs while eliminating 75 million, resulting in a net positive of 58 million jobs.

Full review of XQQ: iShares NASDAQ 100 Index (CAD-Hedged)

QYLD ETF Review: Global X Nasdaq-100 Covered Call ETF

Best AI ETFs (List)

ETF Name	Fees %
IYW – iShares U.S. Technology ETF	0.39
FTEC – Fidelity MSCI Information Technology Index ETF	0.08
FDN – First Trust Dow Jones Internet Index Fund	0.52
XT – iShares Exponential Technologies ETF	0.47
IXN – iShares Global Tech ETF	0.46

Most popular AI ETF list (by Assets under management)

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Performance comparison (AI ETF list)

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AI ETF list: performance comparison

IYW – iShares U.S. Technology ETF

IYW is the ticker symbol for the iShares U.S. Technology ETF. This exchange-traded fund (ETF) is designed to track the performance of the Dow Jones U.S. Technology Index, which includes some of the largest and most well-known technology companies in the United States.

Some of the top holdings of the IYW ETF include companies like Apple, Microsoft, and Amazon, which are all leaders in the technology industry. The ETF also includes exposure to other subsectors of the technology industry, such as software, internet services, and semiconductor companies.

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IYW Holding allocation

NAME	HOLDING ALLOCATION
Apple Inc.	19.76%
Microsoft Corporation	17.07%
Alphabet Inc. Class A	5.29%
NVIDIA Corporation	4.72%
Alphabet Inc. Class C	4.63%
Meta Platforms Inc. Class A	4.01%
Broadcom Inc.	2.75%

FTEC – Fidelity MSCI Information Technology Index ETF

FTEC is the ticker symbol for the Fidelity MSCI Information Technology Index ETF. This exchange-traded fund (ETF) is designed to track the performance of the MSCI USA IMI Information Technology Index, which includes a broad range of technology companies in the United States.

The FTEC ETF includes exposure to a wide range of technology subsectors, such as software, hardware, internet services, and semiconductor companies. Some of the top holdings of the FTEC ETF include companies like Apple, Microsoft, and Facebook, which are all leaders in the technology industry.

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Full Review of XEQT: iShares Core Equity ETF Portfolio

Best ETF Canada: Top 7 offered by BMO – 2023

FTEC Holding allocation

NAME	HOLDING ALLOCATION
Apple Inc.	23.28%
Microsoft Corporation	18.27%
NVIDIA Corporation	6.03%
Visa Inc. Class A	3.46%
Mastercard Incorporated Class A	2.91%
Broadcom Inc.	2.31%
Salesforce, Inc.	1.77%

FDN – First Trust Dow Jones Internet Index Fund

FDN is the ticker symbol for the First Trust Dow Jones Internet Index Fund. This exchange-traded fund (ETF) is designed to track the performance of the Dow Jones Internet Composite Index, which includes companies that generate at least 50% of their annual revenue from the internet.

The FDN ETF includes exposure to a wide range of internet subsectors, such as e-commerce, online advertising, and social networking companies. Some of the top holdings of the FDN ETF include companies like Amazon, Facebook, and Alphabet (Google), which are all leaders in the internet industry.

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FTEC Holding allocation

NAME	HOLDING ALLOCATION
Amazon.com, Inc.	9.82%
Meta Platforms Inc. Class A	7.87%
Alphabet Inc. Class A	5.83%
Salesforce, Inc.	5.42%
Alphabet Inc. Class C	5.11%
Cisco Systems, Inc.	4.98%
Netflix, Inc.	4.67%

XT – iShares Exponential Technologies ETF

XT is the ticker symbol for the iShares Exponential Technologies ETF. This exchange-traded fund (ETF) is designed to provide exposure to companies that are developing and utilizing exponential technologies, which are technologies that have the potential to significantly change the way we live and work.

The XT ETF includes exposure to a wide range of subsectors, such as robotics, artificial intelligence, nanotechnology, and energy storage. Some of the top holdings of the XT ETF include companies like Tesla, Amazon, and Alphabet (Google), which are all leaders in the exponential technology industry.

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XT Holdings

NAME	HOLDING ALLOCATION
Meta Platforms Inc. Class A	0.90%
NVIDIA Corporation	0.82%
Coinbase Global, Inc. Class A	0.74%
Salesforce, Inc.	0.72%
HubSpot, Inc.	0.72%

IXN – iShares Global Tech ETF

IXN is the ticker symbol for the iShares Global Tech ETF. This exchange-traded fund (ETF) is designed to provide exposure to global technology companies across a range of industries, including hardware, software, semiconductors, and internet services.

The IXN ETF includes exposure to companies from around the world, with top holdings including companies like Apple, Microsoft, and Taiwan Semiconductor Manufacturing. The fund aims to provide investors with broad exposure to the global technology sector, which can help to reduce risk by diversifying across multiple regions and industries.

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IXN Holdings – AI ETF list

NAME	HOLDING ALLOCATION
Apple Inc.	22.82%
Microsoft Corporation	19.65%
NVIDIA Corporation	6.29%
Taiwan Semiconductor Manufacturing Co., Ltd.	2.88%
Broadcom Inc.	2.43%
Samsung Electronics Co., Ltd.	2.32%
ASML Holding NV	2.30%