All funds Dividend

Best dividend ETFs in Canada

A dividend ETF holds companies picked for their dividends: a high yield, a long record of raising the payout, or both. It sells no options, so it keeps all of the upside, and its yield is lower than a covered call fund on the same stocks.

Canadian dividend funds lean on banks, energy and pipelines, so a fund can pay well and still depend on a few industries. A few of these funds also borrow to invest more than they hold, and those are marked with their leverage.

On our Income Durability Score, the top 3 are CDIV (82), TQCD (81) and ZDV (81), out of 82 funds from 19 providers.

Ranked by score, out of 100. Click a column heading to sort; funds marked “new” are too young to score and always come last. For more filters, use the full fund list.

Ticker ⇅	Fund	Type	Score ▼	Yield ⇅	1-yr return ⇅	Fee ⇅	Worst drop ⇅	Risk rating ⇅	Liquidity ⇅
CDIV	Manulife Smart Dividend	Dividend	82	2.6%	+21.3%	0.28%	-14.2%	Medium	Very high
TQCD	TD Q Canadian Dividend	Dividend	81	2.8%	+23.3%	0.39%	-31.3%	Medium	Very high
ZDV	BMO Canadian Dividend	Dividend	81	2.7%	+27.6%	0.39%	-27.1%	Medium	Very high
XDIV	iShares Core MSCI Canadian Quality Dividend Index	Dividend	81	3.1%	+32.2%	0.11%	-23.8%	Medium	Very high
TBNK	TD Canadian Bank Dividend Index	Dividend	80	2.2%	+38.6%	0.28%	-13.6%	Med–high	Very high
TQGD	TD Q Global Dividend	Dividend	79	2.7%	+20.0%	0.44%	-20.1%	Medium	Very high
XEI	iShares S&P/TSX Composite High Dividend Index	Dividend	79	3.3%	+29.3%	0.22%	-28.5%	Medium	Very high
ZDI	BMO International Dividend	Dividend	79	3.1%	+17.9%	0.44%	-24.5%	Medium	Medium
XDG	iShares Core MSCI Global Quality Dividend Index	Dividend	78	2.6%	+22.9%	0.22%	-15.6%	Low–med	Medium
CDZ	iShares S&P/TSX Canadian Dividend Aristocrats Index	Dividend	78	2.7%	+18.3%	0.66%	-43.9%	Medium	High
VDY	Vanguard FTSE Canadian High Dividend Yield Index	Dividend	78	2.5%	+32.4%	0.22%	-21.2%	Medium	Very high
XDV	iShares Canadian Select Dividend Index	Dividend	78	2.8%	+29.9%	0.55%	-43.6%	Medium	Very high
CMVP	HAMILTON CHAMPIONS™ Canadian Dividend Index	Dividend	78	2.6%	+23.4%	0.04%	-3.2%	Medium	High
DXC	Dynamic Active Canadian Dividend	Dividend	77	1.9%	+20.4%	0.50%	-16.2%	Low–med	Medium
PDF	Purpose Core Dividend	Dividend	77	2.7%	+23.4%	0.66%	-22.8%	Medium	Medium
RCD	RBC Quant Canadian Dividend Leaders	Dividend	77	2.5%	+18.6%	0.43%	-23.5%	Medium	Medium
PDC	CI Canadian Dividend Index	Dividend	77	2.9%	+26.6%	0.54%	-24.3%	Medium	Medium
VGG	Vanguard U.S. Dividend Appreciation Index	Dividend	76	1.0%	+15.4%	0.29%	-14.4%	Medium	Very high
IUAE	CI S&P US Dividend Aristocrats ESG Index	Dividend	76	1.4%	+19.5%	0.34%	-9.5%	Medium	n/a
PID	Purpose International Dividend	Dividend	76	2.7%	+19.7%	0.65%	-16.8%	Medium	Medium
XDGH	iShares Core MSCI Global Quality Dividend Index (CAD-Hedged)	Dividend	76	3.1%	+20.1%	0.22%	-21.5%	Medium	Medium
VGH	Vanguard U.S. Dividend Appreciation Index (CAD-hedged)	Dividend	76	1.1%	+10.7%	0.29%	-20.9%	Medium	Medium
RID	RBC Quant EAFE Dividend Leaders	Dividend	75	3.4%	+21.6%	0.54%	-22.8%	Medium	Medium
XDU	iShares Core MSCI US Quality Dividend Index	Dividend	75	1.9%	+20.4%	0.16%	-14.8%	Medium	Medium
CYH	iShares Global Monthly Dividend Index (CAD-Hedged)	Dividend	74	3.4%	+16.2%	0.65%	-55.8%	Medium	Medium
XHU	iShares U.S. High Dividend Equity Index	Dividend	74	2.6%	+29.6%	0.33%	-19.9%	Medium	Medium
VIDY	Vanguard FTSE Developed ex North America High Dividend Yield Index	Dividend	74	2.1%	+21.7%	0.31%	-20.7%	Medium	Very high
ZDH	BMO International Dividend Hedged to CAD	Dividend	74	2.9%	+18.9%	0.44%	-27.4%	Medium	Low
IIAE	CI S&P International Developed Dividend Aristocrats ESG Index	Dividend	73	2.9%	+14.5%	0.39%	-5.4%	Medium	Very low
MGDV	Mackenzie Global Dividend	Dividend	73	1.7%	+9.4%	0.89%	-7.3%	n/a	Medium
DGRC	CI Canada Quality Dividend Growth Index	Dividend	73	2.0%	+21.7%	0.23%	-22.6%	Medium	Medium
ICAE	CI S&P/TSX Canadian Dividend Aristocrats ESG Index	Dividend	73	2.4%	+22.9%	0.23%	-9.4%	Medium	Very low
RPD	RBC Quant European Dividend Leaders	Dividend	72	3.8%	+22.2%	0.54%	-25.2%	Medium	Low
XHD	iShares U.S. High Dividend Equity Index (CAD-Hedged)	Dividend	72	2.4%	+24.6%	0.33%	-27.1%	Medium	Medium
ZDY	BMO US Dividend	Dividend	72	1.6%	+17.2%	0.33%	-22.2%	Medium	Medium
NDIV	NBI Canadian Dividend Income	Dividend	72	3.2%	+22.0%	0.63%	-11.3%	Medium	Very low
SMVP	HAMILTON CHAMPIONS™ U.S. Dividend Index	Dividend	71	2.1%	+19.9%	0.04%	-5.0%	Medium	Low
RIDH	RBC Quant EAFE Dividend Leaders (CAD Hedged)	Dividend	71	2.6%	+21.5%	0.54%	-21.6%	Medium	Low
IQD	CI International Quality Dividend Growth Index	Dividend	71	2.0%	+10.3%	0.52%	-19.4%	Medium	Very low
ZUD	BMO US Dividend Hedged to CAD	Dividend	70	1.7%	+14.1%	0.33%	-28.7%	Medium	Low
XDUH	iShares Core MSCI US Quality Dividend Index (CAD-Hedged)	Dividend	70	1.9%	+18.5%	0.16%	-22.0%	Medium	Low
ZZZD	BMO Tactical Dividend ETF	Dividend	70	3.7%	+13.0%	0.77%	-17.1%	Low–med	Very low
MHCD	Middlefield Healthcare Dividend	Dividend	70	4.5%	+14.4%	1.23%	-13.0%	Medium	Low
RUDH	RBC Quant U.S. Dividend Leaders (CAD Hedged)	Dividend	70	1.2%	+11.7%	0.43%	-23.0%	Medium	High
RBN.UN	Blue Ribbon Income	Dividend	69	5.4%	+19.6%	1.52%	-33.0%	n/a	Very low
FCCD	Fidelity Canadian High Dividend	Dividend	69	3.8%	+19.4%	0.39%	-27.3%	Medium	Medium
CUD	iShares US Dividend Growers Index (CAD-Hedged)	Dividend	69	1.8%	+15.4%	0.66%	-26.3%	Medium	Low
TDNA	TD North American Dividend	Dividend	69	0.5%	+9.6%	0.87%	-8.5%	Low–med	High
MDIF	Manulife Dividend Income	Dividend	68	1.0%	+14.2%	–	-4.6%	n/a	Low
CWIN	HAMILTON CHAMPIONS™ Enhanced Canadian Dividend	Dividend 1.25x	68	3.2%	+28.7%	1.67%	-5.6%	Medium	Low
CGQD.B	CI Global Quality Dividend Growth Index	Dividend	67	0.9%	+10.8%	0.47%	-9.1%	Medium	Very low
FDL	First Trust Morningstar Dividend Leaders (CAD-Hedged)	Dividend	67	3.4%	+24.2%	0.59%	-29.4%	Medium	Very low
HAL	Global X Active Canadian Dividend	Dividend	67	1.5%	+30.9%	0.68%	-23.3%	Medium	Low
RPDH	RBC Quant European Dividend Leaders (CAD Hedged)	Dividend	66	2.7%	+23.0%	0.54%	-23.8%	Medium	Very low
FUD	First Trust Value Line Dividend (CAD-Hedged)	Dividend	66	1.9%	+11.0%	0.76%	-23.2%	Medium	Very low
MDIV	Middlefield Global Dividend Growers	Dividend	66	3.4%	+16.4%	1.26%	-22.7%	Medium	Low
UDIV	Manulife Smart U.S. Dividend	Dividend	65	1.7%	+15.6%	0.37%	-16.2%	Medium	Low
EMV.B	CI Emerging Markets Dividend Index	Dividend	65	2.4%	+22.1%	0.41%	-21.6%	Medium	Medium
HAZ	Global X Active Global Dividend	Dividend	65	0.8%	+8.8%	0.76%	-15.8%	Low–med	Medium
RUD	RBC Quant U.S. Dividend Leaders	Dividend	64	1.0%	+15.7%	0.43%	-16.9%	Medium	Medium
CGDI	CI Global Dividend Private Pool	Dividend	64	1.4%	+1.0%	0.97%	-5.6%	Medium	Very low
DGR	CI U.S. Quality Dividend Growth Index	Dividend	64	1.0%	+7.7%	0.38%	-20.6%	Medium	Low
SWIN	HAMILTON CHAMPIONS™ Enhanced U.S. Dividend	Dividend 1.25x	64	2.5%	+23.5%	1.69%	-7.0%	Med–high	Very low
UMI	CI U.S. MidCap Dividend Index	Dividend	63	2.1%	+12.3%	0.39%	-36.8%	Med–high	Very low
MUSA	Middlefield U.S. Equity Dividend	Dividend	63	2.1%	+19.3%	1.15%	-27.3%	Medium	Very low
DXG	Dynamic Active Global Dividend	Dividend	62	0.4%	+5.3%	0.83%	-21.8%	Medium	High
FCID	Fidelity International High Dividend	Dividend	56	0.1%	+21.6%	0.57%	-26.7%	Medium	Medium
FCUD	Fidelity U.S. High Dividend	Dividend	53	0.5%	+7.1%	0.38%	-27.4%	Medium	Medium
FCUH	Fidelity U.S. High Dividend Currency Neutral	Dividend	52	1.6%	+7.9%	0.41%	-34.0%	Med–high	Very low
FCRR	Fidelity U.S. Dividend for Rising Rates	Dividend	50	1.3%	+8.5%	0.39%	-17.4%	Medium	Very low
DXW	Dynamic Active International Dividend	Dividend	48	0.3%	+20.5%	0.55%	-29.3%	Medium	Very low
DIVY	Global X Active U.S. Dividend	Dividend new	n/a	–	–	0.35%	–	Medium	Very low
DXU	Dynamic Active U.S. Dividend	Dividend new	n/a	–	+5.7%	0.81%	-19.2%	Medium	Low
GICD	Guardian i3 Canadian Dividend Growth	Dividend new	n/a	–	–	0.50%	-1.5%	Medium	Very low
GIGD	Guardian i3 Global Dividend Growth	Dividend new	n/a	–	–	0.50%	-0.4%	Low–med	Low
HBDV	Humilis North American Dividend Growth	Dividend new	n/a	2.7%	–	–	-5.3%	Medium	Very low
MAEC	Middlefield ActivEnergy Dividend Class	Dividend new	n/a	2.1%	–	1.00%	-12.7%	High	Very low
TQID	TD Q International Dividend	Dividend new	n/a	–	–	–	–	Medium	Medium
VIGG	Vanguard Developed ex-North America Dividend Appreciation Index	Dividend new	n/a	–	–	0.32%	0.0%	Medium	Medium
VUDH	Vanguard U.S. High Dividend Yield Index (CAD-hedged)	Dividend new	n/a	–	–	0.32%	-4.5%	Medium	Very low
VUDV	Vanguard U.S. High Dividend Yield Index	Dividend new	n/a	–	–	0.36%	-2.5%	Medium	Low
ZDIV	BMO MSCI Canada IMI High Dividend Yield Index	Dividend new	n/a	3.6%	–	–	-3.8%	Medium	Medium

Type

What the fund sells calls on.

The fund owns stocks and sells the right to buy them at a set price. It collects a fee (premium) for that right, which is paid out as income. In exchange, big rises in the stocks are partly given up. A tag such as 1.25x marks leverage; "new" means under 12 months of history, too short to score.

Full definition in the glossary →

Income Durability Score

Out of 100, coloured from red (0) to green (100).

How well the fund has turned its yield into something you could actually keep. It is built from income, capital, risk and cost measures with fixed, published weights.

How we score →

Yield

A year of distributions divided by today's unit price. A high yield is not a high return: if the price falls as much as you were paid, you have gained nothing.

Full definition in the glossary →

Total return

This column is the total return over the last 12 months.

Price change plus all distributions, assuming distributions are reinvested. This is the number that tells you whether the payout was earned.

Full definition in the glossary →

MER

Management expense ratio: the fund's yearly management fee and operating costs as a share of its value, already taken out of returns. Trading costs come on top, as the trading expense ratio (TER) in the fund's ETF Facts; the score's fee measure adds the two.

Full definition in the glossary →

Worst drop (maximum drawdown)

The biggest fall from a high to a later low, in total return, so paying out a distribution does not count as a fall. A fund that fell 30% needs a 43% gain to get back.

Full definition in the glossary →

Risk rating

The fund company's own rating from Low to High, in its ETF Facts, based on how much the fund's returns have varied. It describes past ups and downs, not the chance of a future loss.

Full definition in the glossary →

Liquidity

How easily you can buy or sell without moving the price, rated Very high to Very low by the average dollars traded per day. Thinly traded funds can have wide gaps between the buying and selling price; use limit orders.

Full definition in the glossary →

Volatility

Over the last 36 months.

How much returns bounce around, measured as an annualized standard deviation. Higher means a bumpier ride. It counts rises as well as falls, so the score uses downside deviation instead.

Full definition in the glossary →

Beta

How far the fund tends to move when the S&P 500 moves, over the last 36 months. A beta of 0.7 means it moved about 0.7% for each 1% move in the index.

Full definition in the glossary →

Up and down capture

This column is up capture: the share of its own benchmark's gains the fund took in rising months. The fund's page names the benchmark.

How much of its own benchmark's gains (up) and losses (down) the fund took over the last 36 months. Down capture under 100% means the calls cushioned the falls; leverage pushes both above 100%.

Full definition in the glossary →

Up and down capture

This column is down capture: the share of its own benchmark's losses the fund took in falling months. The fund's page names the benchmark.

How much of its own benchmark's gains (up) and losses (down) the fund took over the last 36 months. Down capture under 100% means the calls cushioned the falls; leverage pushes both above 100%.

Full definition in the glossary →

Total return

This column is the total return per year over the last 3 years.

Price change plus all distributions, assuming distributions are reinvested. This is the number that tells you whether the payout was earned.

Full definition in the glossary →

Return of capital (ROC)

The share of last year's payout classed as return of capital.

A part of the payout that is treated as your own money coming back. It is not taxed right away, but it lowers your cost base, so you may owe more tax when you sell.

Full definition in the glossary →

Rankings are information, not a recommendation to buy or sell any fund. How we score.