Investing

Investing Idea - Dividend Growth

  • Last Updated:
  • Nov 19th, 2020 5:54 pm
Deal Addict
Aug 17, 2008
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freilona wrote: That’s what I thought (and called to confirm before buying BAM and MG) - but nope, only US stocks and ETFs dividends remain in USD, TSX stocks USD dividends are converted to CAD at Questrade (I had a thread about it some years ago here..) Upd. Unless it’s an interlisted TSX stock purchased in USD.

Upd2. Found the thread: questrade-usd-dividends-1810917/2/ - with the post from Questrade support guy who used to hang out here:
FYI: You should always look up each specific companies USD dividend distribution policy. They set the policy and guidelines for their distributions, not the brokers.

BAM: https://bam.brookfield.com/stock-and-di ... on-history

"Registered shareholders who are Canadian residents receive their dividends in the Cdn dollar equivalent, unless they request to receive dividends in U.S. dollars."

MG: No such wording nor policy whatsoever. You should be paid in USD.
https://www.magna.com/company/investors ... /dividends

If you cannot get satisfaction with Questrade, write the Transfer Agent and cc: the corporate Investor Relations department. Spell out precisely what you want to do, in what type of account and who your broker is. Be prepared to have information at hand should they need more details like who you contacted at your broker. Names, departments, times and dates.

Corporations are responsive to broad investor questions that can effect their investor base.

Re: HAL. With such low daily liquidity, you are going to have impact costs should you try to move in or out of the ETF. No opinion otherwise. GL
Jr. Member
Mar 20, 2018
180 posts
111 upvotes
freilona wrote: I know this thread is about individual stocks, but my most recent experience makes me even more anxious about stock picking, so looking at dividend ETFs again. Passive ones are about the same (holdings & performance wise), and not sure if Horizons Active Cdn Dividend ETF (HAL) is worth the extra MER (it held up a bit better than say VDY, but still worse than the TSX Composite index)

Anyways, wondering if anybody holds it - or what do you guys think about its current holdings (in comparison to “the usual suspects”? Personally, looking at dividend cuts so far I think I’d take ETF with less energy exposure and smaller yield. But maybe dividend indexes will start removing those companies, too, so just need to wait for passive dividend ETFs to rebalance?..)

HAL Top 25 Holdings

Symbol Name % Weight Price % Chg

ENGH.TO Enghouse Systems Ltd 4.99% 57.64 +1.87%
ENB.TO Enbridge Inc 4.88% 44.84 +1.43%
OTEX.TO Open Text Corp 4.54% 56.17 +0.30%
CSU.TO Constellation Software Inc 4.46% 1550.45 +1.45%
BIP.UN.TO Brookfield Infrastructure Partners LP 4.43% 56.18 -0.20%
RY.TO Royal Bank of Canada 4.24% 91.65 -0.65%
BCE.TO BCE Inc 3.99% 56.92 +1.02%
BMO.TO Bank of Montreal 3.75% 69.62 -1.64%
TD.TO The Toronto-Dominion Bank 3.66% 60.74 -3.13%
T.TO TELUS Corp 3.55% 23.65 +1.20%
CPX.TO Capital Power Corp 3.32% 27.04 +2.04%
WSP.TO WSP Global Inc 3.23% 88.52 -0.06%
RCI.B.TO Rogers Communications Inc Class B 3.19% 57.57 +0.12%
BAM.A.TO Brookfield Asset Management Inc Class A 3.10% 44.10 -0.54%
GEI.TO Gibson Energy Inc 2.96% 21.35 +0.00%
AQN.TO Algonquin Power & Utilities Corp 2.90% 19.28 +1.58%
CNR.TO Canadian National Railway Co 2.73% 119.90 +1.09%
SMU.UN.TO Summit Industrial Income REIT 2.59% 10.34 +0.24%
KL.TO Kirkland Lake Gold Ltd 2.58% 51.66 -0.12%
FTS.TO Fortis Inc 2.46% 53.30 +2.40%
IFC.TO Intact Financial Corp 2.38% 132.46 +3.89%
AEM.TO Agnico Eagle Mines Ltd 2.34% 86.90 -0.03%
MRU.TO Metro Inc 2.27% 56.55 +1.54%
BYD.TO Boyd Group Services Inc Ordinary Shares 2.25% 200.00 -1.41%
INE.TO Innergex Renewable Energy Inc 2.24% 18.63 +1.91%
As of April 30, 2020

TIA!
This is an actively managed fund, and its holdings are not static. Current selection looks solid to me. Its share in financials is a bit high to my taste.

Why are you interested in a dividend ETF in the first place? What is your goal? Are you OK paying 0.67% as MER? It looks like a small number, but it is not that small if you have a sizebale amount of cash to deploy (more than 100k).
Sr. Member
Jul 1, 2006
660 posts
451 upvotes
freilona wrote: I know this thread is about individual stocks, but my most recent experience makes me even more anxious about stock picking, so looking at dividend ETFs again. Passive ones are about the same (holdings & performance wise), and not sure if Horizons Active Cdn Dividend ETF (HAL) is worth the extra MER (it held up a bit better than say VDY, but still worse than the TSX Composite index)
I am in a similar boat.. decided I no longer wanted to be a stock picker, and did some research on various Canadian Dividend ETFs. And while it burns me a bit to pay the fees I settled on PDC - the portfolio looks solid and is a nice balance relative some of the more financially skewed but lower MER alternatives like VDY or XDIV. I also like that the energy stocks that are present are the ones I'd likely buy anyway.
https://www.invesco.ca/ivz/p/exchange-t ... holdings/4

Dale Roberts of Cut the Crap also likes it:
https://cutthecrapinvesting.com/2019/12 ... favourite/

I may at some point decided to skim it instead, but its so much easier to just buy the bundle and let them apply the algorithms and do the rebalancing. But at 0.5% MER its definitely not as cheap as I'd like.
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stanleyinfrared wrote: Why are you interested in a dividend ETF in the first place? What is your goal? Are you OK paying 0.67% as MER? It looks like a small number, but it is not that small if you have a sizebale amount of cash to deploy (more than 100k).
As a high earner, I never understood dividend tax credit before. But now that I stopped working and plan to start depleting my RRSPs (personal, Spousal and Locked-in) and moving the money to non-registered account, I ran a bunch of most likely scenarios in taxtips calculator (of RRSP withdrawals or getting a part-time job) - and was surprised that 10K in dividends (in addition to the above) seems to be a “sweet spot” (as in, I’d actually be paying LESS in taxes on MORE money!)

2020 sample taxes (tax rate in brackets):

1) 18K RRSP withdrawal, 2K interest: $1,449 (7.24%)
+5K dividends: $1,314 (5.26%)
+10K dividends: $1,313 (4.38%)
+15K dividends: $1,462 (4.18%)

2) 27K RRSP withdrawal, 3K interest: $3,786 (12.62%)
+5K dividends: $3,497 (9.99%)
+10K dividends: $3,040 (7.60%)
+15K dividends: $3,230 (7.18%)

3) 42K RRSP withdrawal, 3K interest: $6,954 (15.45%)
+5K dividends: $7,229 (14.46%)
+10K dividends: $7,548 (13.72%)
+15K dividends: $7,868 (13.11%)
+5K capital gains: $7,558 (15.12)

4) 25K employment income, 5K interest: $4,818 (10.98)
+5K dividends: $4,525 (8.57%)
+10K dividends: $4,071 (6.37%)
+15K dividends: $4,335 (6.25%)
+5K capital gains: $5,319 (10.84)

So my mid-term goal is to move 160K+ to the non-reg account over the next 8 years. I’ve been considering different investments (from individual stocks to balanced All-In-One ETFs with anything in between) ETFs would be easier to buy “in chunks” (and free at Questrade) Ideally, I’d like to settle on something that I won’t have to sell (to switch to something else) until we need the money - say 20+ years from now. And dividend ETF is one of the considerations :)

Am I ok paying a thousand+ per year in MER to save a few hundred dollars per year in taxes? Not really, unless it has a (much) higher chance of not holding “losers” that I can either purchase myself or through a cheaper passive index ETF :)
Sr. Member
Oct 31, 2009
570 posts
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freilona wrote: It depends on your broker and TFSA setup (if it allows USD or not) I used to hold POT (NTR’s “parent”) and now hold CSU in CAD TFSA - and yep, the dividends were/are converted at Bank of Canada noon rate on the record day (I’m with Questrade, so only know how they do it. At first they told me that it’s “currency of transaction”, but even in RRSP all USD dividends from Canadian stocks were converted to CAD..)
I guess the only way to find out is when I receive the dividends. For the meantime I'll send an email or PM my broker (Virtual Brokers) and find out what they will say.
Last edited by desertfox on May 29th, 2020 3:05 am, edited 1 time in total.
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sckor wrote: I am in a similar boat.. decided I no longer wanted to be a stock picker, and did some research on various Canadian Dividend ETFs. And while it burns me a bit to pay the fees I settled on PDC - the portfolio looks solid and is a nice balance relative some of the more financially skewed but lower MER alternatives like VDY or XDIV. I also like that the energy stocks that are present are the ones I'd likely buy anyway.
https://www.invesco.ca/ivz/p/exchange-t ... holdings/4

Dale Roberts of Cut the Crap also likes it:
https://cutthecrapinvesting.com/2019/12 ... favourite/

I may at some point decided to skim it instead, but its so much easier to just buy the bundle and let them apply the algorithms and do the rebalancing. But at 0.5% MER its definitely not as cheap as I'd like.
Yep, I’ve read Dale’s (and some others) reviews and comparisons. Unfortunately, they’re all “pre-COVID”. Here’s the current picture (I’m using ZCN as a benchmark TSX composite index ETF as it’d be my “go-to” if I decide to forego “dividend hunt” :)) You can try different timeframes, cheaper VDY is actually not too bad in some :)
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freilona wrote: I know this thread is about individual stocks, but my most recent experience makes me even more anxious about stock picking, so looking at dividend ETFs again. Passive ones are about the same (holdings & performance wise), and not sure if Horizons Active Cdn Dividend ETF (HAL) is worth the extra MER (it held up a bit better than say VDY, but still worse than the TSX Composite index)

Anyways, wondering if anybody holds it - or what do you guys think about its current holdings (in comparison to “the usual suspects”? Personally, looking at dividend cuts so far I think I’d take ETF with less energy exposure and smaller yield. But maybe dividend indexes will start removing those companies, too, so just need to wait for passive dividend ETFs to rebalance?..)

HAL Top 25 Holdings

Symbol Name % Weight Price % Chg

ENGH.TO Enghouse Systems Ltd 4.99% 57.64 +1.87%
ENB.TO Enbridge Inc 4.88% 44.84 +1.43%
OTEX.TO Open Text Corp 4.54% 56.17 +0.30%
CSU.TO Constellation Software Inc 4.46% 1550.45 +1.45%
BIP.UN.TO Brookfield Infrastructure Partners LP 4.43% 56.18 -0.20%
RY.TO Royal Bank of Canada 4.24% 91.65 -0.65%
BCE.TO BCE Inc 3.99% 56.92 +1.02%
BMO.TO Bank of Montreal 3.75% 69.62 -1.64%
TD.TO The Toronto-Dominion Bank 3.66% 60.74 -3.13%
T.TO TELUS Corp 3.55% 23.65 +1.20%
CPX.TO Capital Power Corp 3.32% 27.04 +2.04%
WSP.TO WSP Global Inc 3.23% 88.52 -0.06%
RCI.B.TO Rogers Communications Inc Class B 3.19% 57.57 +0.12%
BAM.A.TO Brookfield Asset Management Inc Class A 3.10% 44.10 -0.54%
GEI.TO Gibson Energy Inc 2.96% 21.35 +0.00%
AQN.TO Algonquin Power & Utilities Corp 2.90% 19.28 +1.58%
CNR.TO Canadian National Railway Co 2.73% 119.90 +1.09%
SMU.UN.TO Summit Industrial Income REIT 2.59% 10.34 +0.24%
KL.TO Kirkland Lake Gold Ltd 2.58% 51.66 -0.12%
FTS.TO Fortis Inc 2.46% 53.30 +2.40%
IFC.TO Intact Financial Corp 2.38% 132.46 +3.89%
AEM.TO Agnico Eagle Mines Ltd 2.34% 86.90 -0.03%
MRU.TO Metro Inc 2.27% 56.55 +1.54%
BYD.TO Boyd Group Services Inc Ordinary Shares 2.25% 200.00 -1.41%
INE.TO Innergex Renewable Energy Inc 2.24% 18.63 +1.91%
As of April 30, 2020

TIA!
Most, if not all of the top 25 holdings are solid names, either established dividend payers with a long history of growing dividends or companies enjoying nice growth and estimated to grow further. Having a top hold in tech sector will make a nice difference compared to the traditional allocation. I own 23 out of those 25 companies between my dividend watchlist and trading models. The only downside is the liquidity of the ETF.


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Sr. Member
Jul 1, 2006
660 posts
451 upvotes
freilona wrote: Yep, I’ve read Dale’s (and some others) reviews and comparisons. Unfortunately, they’re all “pre-COVID”. Here’s the current picture (I’m using ZCN as a benchmark TSX composite index ETF as it’d be my “go-to” if I decide to forego “dividend hunt” :)) You can try different timeframes, cheaper VDY is actually not too bad in some :)
HAL is definitely a solid performer! It always seemed to have lower distributions than the other dividend focused ETFs and I expect that could be because the manager is redeploying the cash into what he feels is the best opportunity rather than sending the money out to unit holders. The results have been good, but the size of the distributions would make it more challenging to use if you didn’t want to sell to extract some cash for spending.

I don’t want to derail the dividend thread focus here too much, and yes I realize total return is all that matters. ;) If that is the case, then ZLB makes a really strong argument for itself vs HAL as it absolutely trounces everything else we’ve discussed and recently has had higher distributions than HAL.

I hope this works:
https://www.portfoliovisualizer.com/bac ... ion3_3=100
Member
Jan 30, 2017
491 posts
69 upvotes
freilona wrote: That’s what I thought (and called to confirm before buying BAM and MG) - but nope, only US stocks and ETFs dividends remain in USD, TSX stocks USD dividends are converted to CAD at Questrade (I had a thread about it some years ago here..) Upd. Unless it’s an interlisted TSX stock purchased in USD.

Upd2. Found the thread: questrade-usd-dividends-1810917/2/ - with the post from Questrade support guy who used to hang out here:
Say you own Magna on tsx and ur at a loss. U call up Questrade and say I want to journalist my example 100 shares of Magna to usd. That means that if one share is on tsx is trading at $50 and on nyse at $49, you will have chhanged 100 shares at 50 cad to 199 shares st 40 usd ....

Is that right?
Jr. Member
Mar 20, 2018
180 posts
111 upvotes
freilona wrote: As a high earner, I never understood dividend tax credit before. But now that I stopped working and plan to start depleting my RRSPs (personal, Spousal and Locked-in) and moving the money to non-registered account, I ran a bunch of most likely scenarios in taxtips calculator (of RRSP withdrawals or getting a part-time job) - and was surprised that 10K in dividends (in addition to the above) seems to be a “sweet spot” (as in, I’d actually be paying LESS in taxes on MORE money!)

2020 sample taxes (tax rate in brackets):

1) 18K RRSP withdrawal, 2K interest: $1,449 (7.24%)
+5K dividends: $1,314 (5.26%)
+10K dividends: $1,313 (4.38%)
+15K dividends: $1,462 (4.18%)

2) 27K RRSP withdrawal, 3K interest: $3,786 (12.62%)
+5K dividends: $3,497 (9.99%)
+10K dividends: $3,040 (7.60%)
+15K dividends: $3,230 (7.18%)

3) 42K RRSP withdrawal, 3K interest: $6,954 (15.45%)
+5K dividends: $7,229 (14.46%)
+10K dividends: $7,548 (13.72%)
+15K dividends: $7,868 (13.11%)
+5K capital gains: $7,558 (15.12)

4) 25K employment income, 5K interest: $4,818 (10.98)
+5K dividends: $4,525 (8.57%)
+10K dividends: $4,071 (6.37%)
+15K dividends: $4,335 (6.25%)
+5K capital gains: $5,319 (10.84)

So my mid-term goal is to move 160K+ to the non-reg account over the next 8 years. I’ve been considering different investments (from individual stocks to balanced All-In-One ETFs with anything in between) ETFs would be easier to buy “in chunks” (and free at Questrade) Ideally, I’d like to settle on something that I won’t have to sell (to switch to something else) until we need the money - say 20+ years from now. And dividend ETF is one of the considerations :)

Am I ok paying a thousand+ per year in MER to save a few hundred dollars per year in taxes? Not really, unless it has a (much) higher chance of not holding “losers” that I can either purchase myself or through a cheaper passive index ETF :)
The universe of Canadian stocks is much smaller than that for the US. In my opinion, if you pick 20 Canadian companies with solid fundamentals and consistent dividend increases, you will be very close to a dividend ETF in terms of yield and return. You may be lower or you may be even higher. When it comes to stock picking, it is very hard to separate skill from luck in a quantitative manner over short periods of time. There is not too many good names to pick from out there anyways.
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May 31, 2018
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sckor wrote: I don’t want to derail the dividend thread focus here too much, and yes I realize total return is all that matters. ;) If that is the case, then ZLB makes a really strong argument for itself vs HAL as it absolutely trounces everything else we’ve discussed and recently has had higher distributions than HAL.
stanleyinfrared wrote: The universe of Canadian stocks is much smaller than that for the US. In my opinion, if you pick 20 Canadian companies with solid fundamentals and consistent dividend increases, you will be very close to a dividend ETF in terms of yield and return. You may be lower or you may be even higher. When it comes to stock picking, it is very hard to separate skill from luck in a quantitative manner over short periods of time. There is not too many good names to pick from out there anyways.
Funny these two posts came so close together. We currently have 26 Canadian companies that have treated us well overall, yet I'm getting lazy and wondering if there might be a simpler way. After looking through a bunch of different dividend ETF's like @freilona, I pretty much decided if we were to switch it would be to ZLB. I like the look of all of the ZLx series actually, and will probably be incorporating some ZLE, H & I into the portfolio also if we cut our Canadian content further.
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Each to their own. I have no plans to trade my 29 Canadian equities in the taxable portfolio for a dividend ETF. I get to make my own decisions, and I quite like it. I had a global RRSP portfolio of various dividend and REIT ETF's going through the 2008 and early 2009 financial crisis, and to be honest I didn't enjoy the ride at all. Too much overweight in certain sectors. My all Canadian portfolio in the taxable account at the time held up much better, albeit smaller than it is today.
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Feb 4, 2015
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Canada, Eh!!
freilona wrote: As a high earner, I never understood dividend tax credit before. But now that I stopped working and plan to start depleting my RRSPs (personal, Spousal and Locked-in) and moving the money to non-registered account, I ran a bunch of most likely scenarios in taxtips calculator (of RRSP withdrawals or getting a part-time job) - and was surprised that 10K in dividends (in addition to the above) seems to be a “sweet spot” (as in, I’d actually be paying LESS in taxes on MORE money!)

2020 sample taxes (tax rate in brackets):

1) 18K RRSP withdrawal, 2K interest: $1,449 (7.24%)
+5K dividends: $1,314 (5.26%)
+10K dividends: $1,313 (4.38%)
+15K dividends: $1,462 (4.18%)

2) 27K RRSP withdrawal, 3K interest: $3,786 (12.62%)
+5K dividends: $3,497 (9.99%)
+10K dividends: $3,040 (7.60%)
+15K dividends: $3,230 (7.18%)

3) 42K RRSP withdrawal, 3K interest: $6,954 (15.45%)
+5K dividends: $7,229 (14.46%)
+10K dividends: $7,548 (13.72%)
+15K dividends: $7,868 (13.11%)
+5K capital gains: $7,558 (15.12)

4) 25K employment income, 5K interest: $4,818 (10.98)
+5K dividends: $4,525 (8.57%)
+10K dividends: $4,071 (6.37%)
+15K dividends: $4,335 (6.25%)
+5K capital gains: $5,319 (10.84)

So my mid-term goal is to move 160K+ to the non-reg account over the next 8 years. I’ve been considering different investments (from individual stocks to balanced All-In-One ETFs with anything in between) ETFs would be easier to buy “in chunks” (and free at Questrade) Ideally, I’d like to settle on something that I won’t have to sell (to switch to something else) until we need the money - say 20+ years from now. And dividend ETF is one of the considerations :)

Am I ok paying a thousand+ per year in MER to save a few hundred dollars per year in taxes? Not really, unless it has a (much) higher chance of not holding “losers” that I can either purchase myself or through a cheaper passive index ETF :)
Tend to hold individual stocks and also index ETFs.

I've started a recent experiment by buying a little bit of ZWC [covered call Canadian High Dividend]
Top Holdings
Name Symbol % Assets
Enbridge Inc ENB.TO 5.03%
TC Energy Corp TRP.TO 4.91%
BCE Inc BCE.TO 4.86%
Emera Inc EMA.TO 4.48%
TELUS Corp T.TO 4.30%
Canadian National Railway Co CNR.TO 4.21%
Shaw Communications Inc Class B SJR.B.TO 3.98%
Bank of Nova Scotia BNS.TO 3.83%
National Bank of Canada NA.TO 3.80%
Fortis Inc FTS.TO 3.48%

Also bought ZWB [covered call Canadian banks]
Top Holdings
Name Symbol % Assets
BMO Equal Weight Banks ETF ZEB.TO 28.61%
National Bank of Canada NA.TO 12.42%
Bank of Montreal BMO.TO 12.16%
Canadian Imperial Bank of Commerce CM.TO 11.88%
The Toronto-Dominion Bank TD.TO 11.57%
Royal Bank of Canada RY.TO 11.53%
Bank of Nova Scotia BNS.TO 11.47%
Bmo Equal Weight Banks Index E May20 24 Call N/A 0.05%
Bmo Equal Weight Banks Index E May20 26.5 Call N/A 0.05%
Bmo Equal Weight Banks Index E Jun20 25 Call N/A 0.04%


Idea is to compare results vs individual stock holdings... if can't beat them then might as well join them!!

Will also look at HAL, thanks.
.......
July 13, 2017 to October 25, 2018: BOC raised rates 5 times and MCAP raised its prime rate next day each time.

2020: BOC dropped rates 3 times and MCAP waited and waited to drop its prime rate to include all 3 drops.
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georvu wrote: Tend to hold individual stocks and also index ETFs.

I've started a recent experiment by buying a little bit of ZWC [covered call Canadian High Dividend]
...
Idea is to compare results vs individual stock holdings... if can't beat them then might as well join them!!
This is what I’m actually leaning towards - a mixed approach. Since I’ll be moving the money gradually, don’t need to commit to “either individual stocks or ETFs” right away. So I’m thinking:

1) Buy TD and RY in the non-reg, move BNS from RRSP there next year, see if NFI recovers (or sell at a loss - have two capital gains to offset)
2) Buy utilities ETFs in LRSP (thinking 50/50 ZUT for capital appreciation and ZWU for higher distributions - a nod to @FarmerHarv who mentioned buying all ZW* series in What did you buy? thread recently :)) It’s a small account, so high MER is not a concern. But I think something stable with higher than average distributions would be nice to have in there for when I unlock it and start making mandatory yearly withdrawals. Was thinking to buy REITs in there earlier, let’s see how I feel about them by the time the money arrives (DB pension transfers still on OSFI freeze - without an ETA for unfreeze!)

Since ZWU also holds telcos (Canadian and US ones!) - this way I’ll at least have my “banks, utilities and telcos” bases covered :) And since I don’t want to allocate more than 15% of the overall portfolio to Canadian equities (currently less than 8%) - it should be enough for 2-3 years to “wait and see” how it goes :)
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Mar 6, 2010
435 posts
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Brampton
georvu wrote: Tend to hold individual stocks and also index ETFs.

I've started a recent experiment by buying a little bit of ZWC [covered call Canadian High Dividend]
Top Holdings
Name Symbol % Assets
Enbridge Inc ENB.TO 5.03%
TC Energy Corp TRP.TO 4.91%
BCE Inc BCE.TO 4.86%
Emera Inc EMA.TO 4.48%
TELUS Corp T.TO 4.30%
Canadian National Railway Co CNR.TO 4.21%
Shaw Communications Inc Class B SJR.B.TO 3.98%
Bank of Nova Scotia BNS.TO 3.83%
National Bank of Canada NA.TO 3.80%
Fortis Inc FTS.TO 3.48%

Also bought ZWB [covered call Canadian banks]
Top Holdings
Name Symbol % Assets
BMO Equal Weight Banks ETF ZEB.TO 28.61%
National Bank of Canada NA.TO 12.42%
Bank of Montreal BMO.TO 12.16%
Canadian Imperial Bank of Commerce CM.TO 11.88%
The Toronto-Dominion Bank TD.TO 11.57%
Royal Bank of Canada RY.TO 11.53%
Bank of Nova Scotia BNS.TO 11.47%
Bmo Equal Weight Banks Index E May20 24 Call N/A 0.05%
Bmo Equal Weight Banks Index E May20 26.5 Call N/A 0.05%
Bmo Equal Weight Banks Index E Jun20 25 Call N/A 0.04%


Idea is to compare results vs individual stock holdings... if can't beat them then might as well join them!!

Will also look at HAL, thanks.
These two have very attractive yields. Are their any downsides?

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