Funds that beat their benchmark
Income funds trade something for their payouts: a covered call fund gives up some of its stocks' upside for option income, and a dividend fund narrows its market to the payers. Over a year or three, did that trade pay? Pick a kind of fund to see what it's measured against.
These funds sell no options, so there's no version of them without options to compare with. Instead each is measured against the broad market it picks from: XIC for Canadian funds, SPY for US, XEF for international, XAW for global, CPD or PFF for preferred shares (split share preferreds included), XRE or REET for REITs, and XIC or XAW for split share Class A shares by what the corporation holds. Beating it means the fund's focus did better than owning the whole market. See every market yardstick.
44 of 102 funds beat the market over 3 years, to Nov 11, 2026. 3-year figures are the total over the three years, not a yearly rate.
Beat the market
| # | ETF | Fund | Market | Difference | Score |
|---|---|---|---|---|---|
| 1 | LCS Brompton Lifeco Split Corp. Class A Shares · Brompton 1.8x leverage | +381.8% | +100.3%XIC | +281.5% | 74 |
| 2 | LBS Life & Banc Split Corp. Class A Shares · Brompton 1.7x leverage | +293.2% | +100.3%XIC | +192.9% | 81 |
| 3 | DGS Dividend Growth Split Corp. Class A Shares · Brompton 2.3x leverage | +181.4% | +100.3%XIC | +81.1% | 80 |
| 4 | TBNK TD Canadian Bank Dividend Index · TD | +169.2% | +100.3%XIC | +68.9% | 80 |
| 5 | PWI Power & Infrastructure Split Corp. Class A Shares · Brompton 2.1x leverage | +153.4% | +100.3%XIC | +53.1% | 69 |
| 6 | GDV Global Dividend Growth Split Corp. Class A Shares · Brompton 2x leverage | +110.8% | +78.1%XAW | +32.6% | 79 |
| 7 | VIDY Vanguard FTSE Developed ex North America High Dividend Yield Index · Vanguard | +95.8% | +71.7%XEF | +24.2% | 74 |
| 8 | RID RBC Quant EAFE Dividend Leaders · RBC | +95.8% | +71.7%XEF | +24.1% | 75 |
| 9 | VDY Vanguard FTSE Canadian High Dividend Yield Index · Vanguard | +123.2% | +100.3%XIC | +22.9% | 78 |
| 10 | RPD RBC Quant European Dividend Leaders · RBC | +93.8% | +71.7%XEF | +22.2% | 72 |
| 11 | MREL Middlefield Real Estate Dividend · Middlefield | +45.5% | +24.1%XRE | +21.4% | 75 |
| 12 | RPF RBC Canadian Preferred Share · RBC | +77.5% | +59.1%CPD | +18.4% | 80 |
| 13 | XDIV iShares Core MSCI Canadian Quality Dividend Index · iShares | +118.2% | +100.3%XIC | +17.9% | 81 |
| 14 | XPF iShares S&P/TSX North American Preferred Stock Index (CAD-Hedged) · iShares | +31.5% | +14.4%PFF | +17.1% | 73 |
| 15 | RIDH RBC Quant EAFE Dividend Leaders (CAD Hedged) · RBC | +88.7% | +71.7%XEF | +17.1% | 71 |
| 16 | PID Purpose International Dividend · Purpose | +87.8% | +71.7%XEF | +16.2% | 76 |
| 17 | XDV iShares Canadian Select Dividend Index · iShares | +115.7% | +100.3%XIC | +15.3% | 78 |
| 18 | TPRF TD Active Preferred Share · TD | +73.9% | +59.1%CPD | +14.9% | 82 |
| 19 | ZPR BMO Laddered Preferred Share Index · BMO | +72.4% | +59.1%CPD | +13.4% | 86 |
| 20 | HYBR Global X Active Hybrid Bond and Preferred Share · Global X | +71.6% | +59.1%CPD | +12.5% | 78 |
| 21 | TQCD TD Q Canadian Dividend · TD | +112.3% | +100.3%XIC | +11.9% | 81 |
| 22 | RIT CI Canadian REIT · CI | +35.9% | +24.1%XRE | +11.8% | 71 |
| 23 | FCID Fidelity International High Dividend · Fidelity | +83.0% | +71.7%XEF | +11.3% | 56 |
| 24 | EMV.B CI Emerging Markets Dividend Index · CI | +82.1% | +71.7%XEF | +10.5% | 65 |
| 25 | HPR Global X Active Preferred Share · Global X | +69.5% | +59.1%CPD | +10.5% | 80 |
| 26 | PHR Purpose Real Estate Income · Purpose | +34.2% | +24.1%XRE | +10.1% | 68 |
| 27 | ZRE BMO Equal Weight REITs Index · BMO | +34.0% | +24.1%XRE | +9.9% | 74 |
| 28 | RPDH RBC Quant European Dividend Leaders (CAD Hedged) · RBC | +79.6% | +70.3%XEF | +9.3% | 66 |
| 29 | NPRF NBI Active Canadian Preferred Shares · NBI | +67.8% | +59.1%CPD | +8.7% | 81 |
| 30 | DCP Desjardins Canadian Preferred Share Index · Desjardins | +66.8% | +59.0%CPD | +7.8% | 64 |
| 31 | DXP Dynamic Active Preferred Shares · Dynamic | +64.7% | +59.1%CPD | +5.6% | 80 |
| 32 | ZDV BMO Canadian Dividend · BMO | +104.9% | +100.3%XIC | +4.6% | 81 |
| 33 | IIAE CI S&P International Developed Dividend Aristocrats ESG Index · CI | +74.8% | +70.3%XEF | +4.4% | 73 |
| 34 | VRE Vanguard FTSE Canadian Capped REIT Index · Vanguard | +27.5% | +24.1%XRE | +3.4% | 70 |
| 35 | RUD RBC Quant U.S. Dividend Leaders · RBC | +87.4% | +84.5%SPY | +2.9% | 64 |
| 36 | HAL Global X Active Canadian Dividend · Global X | +103.0% | +100.3%XIC | +2.7% | 67 |
| 37 | RPS Purpose Canadian Preferred Share · Purpose | +61.5% | +59.1%CPD | +2.4% | 75 |
| 38 | PDC CI Canadian Dividend Index · CI | +102.5% | +100.3%XIC | +2.2% | 77 |
| 39 | MUSA Middlefield U.S. Equity Dividend · Middlefield | +86.6% | +84.5%SPY | +2.1% | 63 |
| 40 | TQGD TD Q Global Dividend · TD | +80.1% | +78.1%XAW | +1.9% | 79 |
| 41 | FPR CI Preferred Share · CI | +60.9% | +59.0%CPD | +1.9% | 67 |
| 42 | RCD RBC Quant Canadian Dividend Leaders · RBC | +102.2% | +100.3%XIC | +1.9% | 77 |
| 43 | QRET Mackenzie Developed Markets Real Estate Index · Mackenzie | +49.0% | +47.5%REET | +1.5% | 68 |
| 44 | CDIV Manulife Smart Dividend · Manulife | +101.6% | +100.3%XIC | +1.2% | 82 |
Trailed (58)
| # | ETF | Fund | Market | Difference | Score |
|---|---|---|---|---|---|
| 45 | MDIV Middlefield Global Dividend Growers · Middlefield | +78.0% | +78.1%XAW | -0.1% | 66 |
| 46 | XEI iShares S&P/TSX Composite High Dividend Index · iShares | +100.1% | +100.3%XIC | -0.2% | 79 |
| 47 | ZDI BMO International Dividend · BMO | +70.5% | +71.7%XEF | -1.2% | 79 |
| 48 | ZUP BMO US Preferred Share Index · BMO | +13.8% | +16.6%PFF | -2.8% | 62 |
| 49 | RUDH RBC Quant U.S. Dividend Leaders (CAD Hedged) · RBC | +75.0% | +78.8%SPY | -3.8% | 70 |
| 50 | DIVS Evolve Active Canadian Preferred Share · Evolve | +54.9% | +59.0%CPD | -4.0% | 76 |
| 51 | TGRE TD Active Global Real Estate Equity · TD | +43.7% | +48.5%REET | -4.7% | 73 |
| 52 | XHU iShares U.S. High Dividend Equity Index · iShares | +79.6% | +84.5%SPY | -4.8% | 74 |
| 53 | DXG Dynamic Active Global Dividend · Dynamic | +73.0% | +78.1%XAW | -5.1% | 62 |
| 54 | CGR iShares Global Real Estate Index · iShares | +41.9% | +47.5%REET | -5.5% | 68 |
| 55 | XDG iShares Core MSCI Global Quality Dividend Index · iShares | +72.5% | +78.1%XAW | -5.6% | 78 |
| 56 | ICAE CI S&P/TSX Canadian Dividend Aristocrats ESG Index · CI | +94.5% | +100.3%XIC | -5.9% | 73 |
| 57 | FCRR Fidelity U.S. Dividend for Rising Rates · Fidelity | +73.3% | +80.5%SPY | -7.2% | 50 |
| 58 | ESP Brompton Energy Split Corp. Class A Shares · Brompton 2.8x leverage | +92.3% | +100.3%XIC | -8.0% | 66 |
| 59 | ZDH BMO International Dividend Hedged to CAD · BMO | +63.5% | +71.7%XEF | -8.1% | 74 |
| 60 | CYH iShares Global Monthly Dividend Index (CAD-Hedged) · iShares | +69.5% | +78.1%XAW | -8.6% | 74 |
| 61 | CGRE CI Global REIT Private Pool · CI | +38.6% | +47.5%REET | -8.9% | 68 |
| 62 | ZDY BMO US Dividend · BMO | +75.3% | +84.5%SPY | -9.2% | 72 |
| 63 | PR Lysander-Slater Preferred Share ActivETF · Lysander | +49.6% | +59.0%CPD | -9.4% | 77 |
| 64 | ZHP BMO US Preferred Share Hedged to CAD Index · BMO | +4.5% | +14.4%PFF | -9.9% | 54 |
| 65 | XRE iShares S&P/TSX Capped REIT Index · iShares | +24.1% | +34.0%ZRE | -9.9% | 69 |
| 66 | CPD iShares S&P/TSX Canadian Preferred Share Index · iShares | +59.1% | +72.5%ZPR | -13.4% | 81 |
| 67 | XHD iShares U.S. High Dividend Equity Index (CAD-Hedged) · iShares | +65.3% | +78.8%SPY | -13.6% | 72 |
| 68 | FCCD Fidelity Canadian High Dividend · Fidelity | +86.4% | +100.3%XIC | -13.9% | 69 |
| 69 | DXU Dynamic Active U.S. Dividend · Dynamic | +70.4% | +84.5%SPY | -14.1% | new |
| 70 | VGG Vanguard U.S. Dividend Appreciation Index · Vanguard | +69.8% | +84.5%SPY | -14.7% | 76 |
| 71 | ZUD BMO US Dividend Hedged to CAD · BMO | +63.8% | +78.8%SPY | -15.0% | 70 |
| 72 | XDU iShares Core MSCI US Quality Dividend Index · iShares | +69.4% | +84.5%SPY | -15.1% | 75 |
| 73 | XDGH iShares Core MSCI Global Quality Dividend Index (CAD-Hedged) · iShares | +59.7% | +75.3%XAW | -15.6% | 76 |
| 74 | DXW Dynamic Active International Dividend · Dynamic | +54.2% | +70.3%XEF | -16.2% | 48 |
| 75 | CDZ iShares S&P/TSX Canadian Dividend Aristocrats Index · iShares | +83.3% | +100.3%XIC | -17.1% | 78 |
| 76 | DGRC CI Canada Quality Dividend Growth Index · CI | +81.1% | +100.3%XIC | -19.3% | 73 |
| 77 | PDF Purpose Core Dividend · Purpose | +81.0% | +100.3%XIC | -19.3% | 77 |
| 78 | UDIV Manulife Smart U.S. Dividend · Manulife | +59.5% | +78.8%SPY | -19.3% | 65 |
| 79 | HAZ Global X Active Global Dividend · Global X | +58.4% | +78.1%XAW | -19.7% | 65 |
| 80 | VGH Vanguard U.S. Dividend Appreciation Index (CAD-hedged) · Vanguard | +56.6% | +78.8%SPY | -22.2% | 76 |
| 81 | IUAE CI S&P US Dividend Aristocrats ESG Index · CI | +58.2% | +80.5%SPY | -22.3% | 76 |
| 82 | NDIV NBI Canadian Dividend Income · NBI | +75.9% | +98.8%XIC | -22.9% | 72 |
| 83 | XDUH iShares Core MSCI US Quality Dividend Index (CAD-Hedged) · iShares | +55.2% | +78.8%SPY | -23.6% | 70 |
| 84 | LBS.PR.A Life & Banc Split Corp. Preferred Shares · Brompton | +34.5% | +59.1%CPD | -24.6% | 81 |
| 85 | FDL First Trust Morningstar Dividend Leaders (CAD-Hedged) · First Trust | +75.1% | +100.3%XIC | -25.2% | 67 |
| 86 | DXC Dynamic Active Canadian Dividend · Dynamic | +73.9% | +100.3%XIC | -26.4% | 77 |
| 87 | FCUH Fidelity U.S. High Dividend Currency Neutral · Fidelity | +47.7% | +76.5%SPY | -28.8% | 52 |
| 88 | GDV.PR.A Global Dividend Growth Split Corp. Preferred Shares · Brompton | +30.2% | +59.1%CPD | -28.8% | 77 |
| 89 | SPLT Brompton Split Corp. Preferred Share · Brompton 1.15x leverage | +29.3% | +59.1%CPD | -29.8% | 80 |
| 90 | ESP.PR.A Brompton Energy Split Corp. Preferred Shares · Brompton | +29.0% | +59.1%CPD | -30.1% | 72 |
| 91 | FCUD Fidelity U.S. High Dividend · Fidelity | +54.4% | +84.5%SPY | -30.1% | 53 |
| 92 | SPFD Mulvihill Enhanced Split Preferred Share · Mulvihill 1.5x leverage | +28.1% | +59.1%CPD | -30.9% | 78 |
| 93 | BEPR Brompton Flaherty & Crumrine Enhanced Investment Grade Preferred · Brompton 1.33x leverage | +27.8% | +59.1%CPD | -31.3% | 64 |
| 94 | PWI.PR.A Power & Infrastructure Split Corp. Preferred Shares · Brompton | +27.1% | +59.1%CPD | -31.9% | 76 |
| 95 | UMI CI U.S. MidCap Dividend Index · CI | +47.5% | +80.5%SPY | -32.9% | 63 |
| 96 | DGR CI U.S. Quality Dividend Growth Index · CI | +51.0% | +84.5%SPY | -33.5% | 64 |
| 97 | IQD CI International Quality Dividend Growth Index · CI | +36.4% | +70.3%XEF | -33.9% | 71 |
| 98 | CUD iShares US Dividend Growers Index (CAD-Hedged) · iShares | +44.4% | +78.8%SPY | -34.4% | 69 |
| 99 | BPRF Brompton Flaherty & Crumrine Investment Grade Preferred · Brompton | +23.1% | +59.0%CPD | -35.8% | 72 |
| 100 | RBN.UN Blue Ribbon Income · Brompton | +52.4% | +98.8%XIC | -46.5% | 69 |
| 101 | MHCD Middlefield Healthcare Dividend · Middlefield | +53.2% | +100.3%XIC | -47.1% | 70 |
| 102 | FUD First Trust Value Line Dividend (CAD-Hedged) · First Trust | +39.5% | +98.8%XIC | -59.3% | 66 |
How to read this
- Returns are totals in Canadian dollars, with distributions and dividends reinvested, over the same days for the fund and what it's measured against. A fund hedged to the Canadian dollar is measured in the benchmark's or market's own currency.
- Benchmark or market: a covered call fund is compared with the same stocks without options, a fund with no options with the broad market it picks from. Neither is the index a fund tracks: an index fund trails its own index by about its fee, by design, so that would only rank fees. Click a ticker under a return, or see every benchmark and market yardstick, for the full list and the funds compared with each.
- Leverage adds to gains when markets rise and to losses when they fall, so a leveraged fund beating an unleveraged benchmark says more about the market than the options.
- Each fund's own page has the full comparison over more periods.
This is information, not a recommendation to buy or sell any fund. How we compare.