Funds that beat their benchmark Benchmarks
Benchmarks and market yardsticks
To judge a fund, we compare it with what you could have bought instead. What that is depends on the kind of fund, so there are two lists.
Benchmarks, for covered call funds
A covered call fund holds stocks and sells options on them. Its benchmark is the same stocks without the options: the uncovered ETF the fund's own documents point to. Beating it means the option income was worth the upside the fund gave up.
Market yardsticks, for dividend, preferred, REIT and split share funds
These funds sell no options, so there's no version of them without options. We compare each with the broad market for its region and asset instead. This is our choice, not the index the fund tracks: an index fund trails its own index by about its fee, by design, so that comparison would only rank fees. Beating the market means the fund's focus paid off.
Benchmarks (61)
| Ticker | Name | Funds compared with it |
|---|---|---|
| SPY | State Street SPDR S&P 500 ETF Trust | 14 funds: BIGY, DXQ, ESPX, FEPY, HBF, HYLD, JEPI, SMAX, TUED, USCC, USCL, ZPAY, ZPH, ZPW |
| QQQ | Invesco QQQ Trust | 8 funds: HHIH, HHIS, JEPQ, QDAY, QQCC, QQCI, QQCL, QQQY |
| XIU | iShares S&P/TSX 60 Index ETF | 7 funds: CANY, CNCC, CNCL, ECHI, ETSX, HDIV, HHIC |
| XLK | State Street Technology Select Sector SPDR ETF | 6 funds: HTA, HTAE, QMAX, TLF, TXF, ZWT |
| ZEB | BMO Equal Weight Banks Index ETF | 6 funds: BKCC, BKCL, CBNK, CCCB, CIC, ZWB |
| TLT | iShares 20+ Year Treasury Bond ETF | 5 funds: BOND, HBND, HPYT, LPAY, MIDB |
| XLV | State Street Health Care Select Sector SPDR ETF | 5 funds: FHI, HHL, HHLE, LMAX, ZWHC |
| ACWI | iShares MSCI ACWI ETF | 3 funds: GGEP, GGPY, ZWG |
| BTCC.B | Purpose Bitcoin ETF Non-Currency Hedged Units | 3 funds: BCCC, BCCL, HBIX |
| IXC | iShares Global Energy ETF | 3 funds: HPF, NXF, ZWEN |
| JXI | iShares Global Utilities ETF | 3 funds: CUTL, HUTE, HUTL |
| XEI | iShares S&P/TSX Composite High Dividend Index ETF | 3 funds: CCDC, HLIF, RCDC |
| XGD | iShares S&P/TSX Global Gold Index ETF | 3 funds: AMAX, CGXF, GLCC |
| ZEO | BMO Equal Weight Oil & Gas Index ETF | 3 funds: ENCC, ENCL, OILY |
| EEM | iShares MSCI Emerging Markets ETF | 2 funds: EMCC, EMCL |
| EFA | iShares MSCI EAFE ETF | 2 funds: EACC, EACL |
| IEF | iShares 7-10 Year Treasury Bond ETF | 2 funds: HPYM, MPAY |
| VYM | Vanguard High Dividend Yield Index Fund ETF Shares | 2 funds: CUDC, RUDC |
| XEH | iShares MSCI Europe IMI Index ETF (CAD-Hedged) | 2 funds: EDGF, ZWE |
| XFN | iShares S&P/TSX Capped Financials Index ETF | 2 funds: BANK, HMAX |
| XHC | iShares Global Healthcare Index ETF (CAD-Hedged) | 2 funds: HIG, LIFE |
| ZUB | BMO Equal Weight US Banks Hedged to CAD Index ETF | 2 funds: CALL, HUBL |
| ZUT | BMO Equal Weight Utilities Index ETF | 2 funds: UTES, ZWU |
| AGG | iShares Core U.S. Aggregate Bond ETF | 1 fund: CCBD |
| BIL | State Street SPDR Bloomberg 1-3 Month T-Bill ETF | 1 fund: HBIL |
| BTCC | Purpose Bitcoin ETF Currency Hedged Units | 1 fund: BTCY |
| CMVP | HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units | 1 fund: CDAY |
| ETHH | Purpose Ether ETF - Hedged | 1 fund: ETHY |
| EUFN | iShares MSCI Europe Financials ETF | 1 fund: EBNK |
| GLD | SPDR Gold Shares | 1 fund: HGY |
| HEQT | Global X All-Equity Asset Allocation ETF | 1 fund: EQCC |
| IWM | iShares Russell 2000 ETF | 1 fund: RSCC |
| MAGS | Roundhill Magnificent Seven ETF | 1 fund: YMAG |
| MXI | iShares Global Materials ETF | 1 fund: BASE |
| Purpose Core Dividend Fund Series ETF | 1 fund: PDIV | |
| REET | iShares Global REIT ETF | 1 fund: HGR |
| RSP | Invesco S&P 500 Equal Weight ETF | 1 fund: EQLI |
| SHY | iShares 1-3 Year Treasury Bond ETF | 1 fund: SPAY |
| SLV | iShares Silver Trust | 1 fund: AGCC |
| SMVP | HAMILTON CHAMPIONS U.S. Dividend Index CDN$ Hedged Units | 1 fund: SDAY |
| URTH | iShares MSCI World ETF | 1 fund: BDIV |
| VGK | Vanguard FTSE Europe ETF | 1 fund: ZWP |
| XAW | iShares Core MSCI All Country World ex Canada Index ETF | 1 fund: ZZZD |
| XEG | iShares S&P/TSX Capped Energy Index ETF | 1 fund: NRGI |
| XGRO | iShares Core Growth ETF Portfolio | 1 fund: GRCC |
| XLE | State Street Energy Select Sector SPDR ETF | 1 fund: EMAX |
| XLF | State Street Financial Select Sector SPDR ETF | 1 fund: FMAX |
| XLI | State Street Industrial Select Sector SPDR ETF | 1 fund: HIND |
| XWD | iShares MSCI World Index ETF | 1 fund: TGED |
| ZAG | BMO Aggregate Bond Index ETF | 1 fund: AGG |
| ZBK | BMO Equal Weight US Banks Index ETF | 1 fund: ZWK |
| ZDJ | BMO Dow Jones Industrial Average Hedged to CAD Index ETF | 1 fund: ZWA |
| ZDV | BMO Canadian Dividend ETF | 1 fund: ZWC |
| ZDY | BMO US Dividend ETF (CAD) | 1 fund: ZWH |
| ZFL | BMO Long Federal Bond Index ETF | 1 fund: PAYL |
| ZFM | BMO Mid Federal Bond Index ETF | 1 fund: PAYM |
| ZFS | BMO Short Federal Bond Index ETF | 1 fund: PAYS |
| ZGLD | BMO Gold Bullion ETF (CAD Units) | 1 fund: ZWGD |
| ZLB | BMO Low Volatility Canadian Equity ETF | 1 fund: HVOI |
| ZUD | BMO US Dividend Hedged to CAD ETF | 1 fund: ZWS |
| ZUE | BMO S&P 500 Hedged to CAD Index ETF | 1 fund: TUEX |
Market yardsticks (10)
| Ticker | Name | Funds compared with it |
|---|---|---|
| XIC | iShares Core S&P/TSX Capped Composite Index ETF | 31 funds: CDIV, CDZ, CLSA, CMVP, CWIN, DGRC, DGS, DXC, ESP, FCCD, FDL, FUD, HAL, ICAE, LBS, LCS, MDIF, MHCD, NDIV, PDC, PDF, PWI, RBN.UN, RCD, TBNK, TQCD, VDY, XDIV, XDV, XEI, ZDV |
| SPY | State Street SPDR S&P 500 ETF Trust | 23 funds: CUD, DGR, DXU, FCRR, FCUD, FCUH, IUAE, MUSA, RUD, RUDH, SMVP, SWIN, TDNA, UDIV, UMI, VGG, VGH, XDU, XDUH, XHD, XHU, ZDY, ZUD |
| CPD | iShares S&P/TSX Canadian Preferred Share Index ETF Common Class | 21 funds: BEPR, BPRF, DCP, DIVS, DXP, ESP.PR.A, FPR, GDV.PR.A, HPR, HYBR, LBS.PR.A, NPRF, PR, PREF, PWI.PR.A, RPF, RPS, SPFD, SPLT, TPRF, ZPR |
| XEF | iShares Core MSCI EAFE IMI Index ETF | 13 funds: DXW, EMV.B, FCID, IIAE, IQD, PID, RID, RIDH, RPD, RPDH, VIDY, ZDH, ZDI |
| XAW | iShares Core MSCI All Country World ex Canada Index ETF | 11 funds: CGDI, CGQD.B, CYH, DXG, GDV, HAZ, MDIV, MGDV, TQGD, XDG, XDGH |
| XRE | iShares S&P/TSX Capped REIT Index ETF | 8 funds: DXRE, MREL, PHR, REIT, RIT, VRE, ZRE, ZXLR |
| REET | iShares Global REIT ETF | 4 funds: CGR, CGRE, QRET, TGRE |
| PFF | iShares Preferred and Income Securities ETF | 3 funds: XPF, ZHP, ZUP |
| ZPR | BMO Laddered Preferred Share Index ETF | 1 fund: CPD |
| ZRE | BMO Equal Weight REITs Index ETF | 1 fund: XRE |
Returns are compared in Canadian dollars, except for a fund hedged to the Canadian dollar, which is compared with a US benchmark in US dollars. See which funds beat theirs.