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Updated June 3
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Best Dividend ETFs in Canada 2026
Dividend ETFs focus on stocks that pay regular and growing dividends. They may target high yield, dividend growth, or dividend aristocrats (companies that have increased dividends for 25+ years).
Why invest
Dividends provide regular income and can represent a significant portion of long-term total return. Companies paying dividends tend to be more mature and stable.
How to choose
Distinguish between high yield (riskier) and dividend growth (more stable). Check the payout ratio and dividend growth history.
Tax considerations
Eligible Canadian dividends receive favorable tax treatment in non-registered accounts. Foreign dividends are taxed at marginal rate.
Best account
Non-registered — Canadian dividend tax credit is maximized in a taxable account.
High yield vs dividend growth: which to choose?
High yield ETFs (VDY, XEI) suit if you need income now. Dividend growth ETFs (CDZ) offer more modest yields but better long-term progression.
VDY vs XEI: which is better?
VDY offers slightly higher yield but is heavily concentrated in financials (50%+). XEI is more diversified with 50-75 holdings. For a portfolio core, XEI is often preferred.
Best Dividend ETFs in Canada 2026
Dividend ETFs focus on stocks that pay regular and growing dividends. They may target high yield, dividend growth, or dividend aristocrats (companies that have increased dividends for 25+ years).
Why invest
Dividends provide regular income and can represent a significant portion of long-term total return. Companies paying dividends tend to be more mature and stable.
How to choose
Distinguish between high yield (riskier) and dividend growth (more stable). Check the payout ratio and dividend growth history.
Tax considerations
Eligible Canadian dividends receive favorable tax treatment in non-registered accounts. Foreign dividends are taxed at marginal rate.
Best account
Non-registered — Canadian dividend tax credit is maximized in a taxable account.
High yield vs dividend growth: which to choose?
High yield ETFs (VDY, XEI) suit if you need income now. Dividend growth ETFs (CDZ) offer more modest yields but better long-term progression.
VDY vs XEI: which is better?
VDY offers slightly higher yield but is heavily concentrated in financials (50%+). XEI is more diversified with 50-75 holdings. For a portfolio core, XEI is often preferred.
Holdings | Strategy | Dist. Freq. | Market | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
TD TQCD TD Q Canadian Dividend ETF | +17.57% | 0.35% | 2.54% | 2019 | 3.1G$ | 0.65 | Index | Mo. | 202K | 🇨🇦 Canada | |||
VA VDY FTSE Canadian High Dividend Yield Index ETF | +17.05% | 0.20% | 3.03% | 2012 | 8.1G$ | -0.00 | Factor | Mo. | 256K | 🇨🇦 Canada | |||
TD TGED TD Active Global Enhanced Dividend ETF | +16.97% | 0.65% | 3.24% | 2019 | 1.7G$ | 0.70 | Active | Mo. | 72K | 🇨🇦 Canada | |||
IS XDIV Core MSCI Canadian Quality Dividend Index ETF | +16.43% | 0.11% | 3.09% | 2017 | 5.3G$ | -0.00 | Factor | Mo. | 197K | 🇨🇦 Canada | |||
GL HXH Canadian High Dividend Index Corporate Class ETF | +16.23% | 0.01% | 0.00% | 2016 | 240M$ | 0.53 | Factor | — | 3K | 🇨🇦 Canada | |||
TD TUED TD Active U.S. Enhanced Dividend ETF | +16.17% | 0.65% | 2.80% | 2020 | 671M$ | 0.59 | Active | Mo. | 34K | 🇨🇦 Canada | |||
MI MUSA Middlefield U.S. Equity Dividend ETF | +15.95% | 2.19% | 2.25% | 2013 | 54M$ | 0.22 | Active | Mo. | 146 | 🇨🇦 Canada | |||
VA VIDY FTSE Developed ex North America High Dividend Yield Index ETF | +15.35% | 0.28% | 1.86% | 2018 | 1.9G$ | 0.27 | Factor | Qtr. | 49K | 🇨🇦 Canada | |||
IS XEI S&P/TSX Composite High Dividend Index ETF | +14.94% | 0.22% | 3.39% | 2011 | 4.1G$ | 0.63 | Factor | Mo. | 224K | 🇨🇦 Canada | |||
GL HAL Active Canadian Dividend ETF | +14.86% | 0.55% | 2.04% | 2010 | 124M$ | 0.42 | Active | Qtr. | 588 | 🇨🇦 Canada | |||
DY DXU Active U.S. Dividend ETF | +14.86% | 0.75% | 0.00% | 2017 | 98M$ | 0.64 | Active | — | 326 | 🇨🇦 Canada | |||
TD TQGD TD Q Global Dividend ETF | +14.70% | 0.40% | 2.62% | 2019 | 800M$ | 0.76 | Index | Mo. | 64K | 🇨🇦 Canada | |||
MI MDIV Middlefield Global Dividend Growers ETF | +14.70% | 1.31% | 3.49% | 2013 | 65M$ | 0.50 | Active | Mo. | 2K | 🇨🇦 Canada | |||
IS RPD RBC Quant European Dividend Leaders ETF | +14.39% | 0.49% | 2.95% | 2014 | 122M$ | 1.09 | Index | Mo. | 1K | 🇨🇦 Canada | |||
GL HAZ Active Global Dividend ETF | +14.22% | 0.65% | 0.90% | 2010 | 552M$ | 0.68 | Active | Qtr. | 8K | 🇨🇦 Canada | |||
PU PID International Dividend Fund | +14.13% | 0.67% | 2.73% | 2015 | 188M$ | 0.15 | Active | Mo. | 8K | 🇨🇦 Canada | |||
DY DXG Active Global Dividend ETF | +14.03% | 0.75% | 0.00% | 2017 | 984M$ | 0.57 | Active | Ann. | 11K | 🇨🇦 Canada | |||
IS RUD RBC Quant U.S. Dividend Leaders ETF | +13.91% | 0.39% | 1.40% | 2014 | 880M$ | 0.41 | Index | Mo. | 4K | 🇨🇦 Canada | |||
IS RIDH RBC Quant EAFE Dividend Leaders (CAD Hedged) ETF | +13.84% | 0.49% | +9 | 3.05% | 2014 | 146M$ | 0.53 | Index | Mo. | 2K | 🇨🇦 Canada | ||
BM ZDV Canadian Dividend ETF | +13.72% | 0.35% | 2.54% | 2011 | 1.7G$ | 0.62 | Index | Mo. | 46K | 🇨🇦 Canada | |||
MA CDIV Smart Dividend ETF | +13.61% | 0.25% | 2.08% | 2020 | 1.5G$ | 0.63 | Index | Qtr. | 41K | 🇨🇦 Canada | |||
BM ZDY US Dividend ETF | +13.52% | 0.30% | 1.44% | 2013 | 878M$ | 1.09 | Index | Mo. | 6K | 🇨🇦 Canada | |||
FI FCID International High Dividend ETF | +13.52% | 0.45% | 3.40% | 2018 | 351M$ | 0.20 | Factor | Mo. | 11K | 🇨🇦 Canada | |||
BM ZDH International Dividend Hedged to CAD ETF | +13.24% | 0.40% | +2 | 2.83% | 2015 | 230M$ | 0.59 | Index | Mo. | 6K | 🇨🇦 Canada | ||
VA VGG U.S. Dividend Appreciation Index ETF | +13.18% | 0.28% | +9 | 1.07% | 2013 | 2.5G$ | 0.33 | Index | Qtr. | 11K | 🇨🇦 Canada | ||
IS RPDH RBC Quant European Dividend Leaders (CAD Hedged) ETF | +13.16% | 0.49% | +9 | 3.02% | 2014 | 25M$ | 1.09 | Index | Mo. | 216 | 🇨🇦 Canada | ||
IS RID RBC Quant EAFE Dividend Leaders ETF | +13.10% | 0.54% | 2.96% | 2014 | 504M$ | 0.51 | Index | Mo. | 3K | 🇨🇦 Canada | |||
IN PDC Canadian Dividend Index ETF | +13.04% | 0.50% | 3.12% | 2011 | 1.0G$ | -0.00 | Index | Mo. | 3K | 🇨🇦 Canada | |||
CI DGRC Canada Quality Dividend Growth Index ETF | +12.58% | 0.21% | 3.01% | 2017 | 910M$ | 0.50 | Factor | Qtr. | 10K | 🇨🇦 Canada | |||
NA NDIV NBI Canadian Dividend Income ETF | +12.57% | 0.55% | 1.90% | 2021 | 18M$ | 0.51 | Index | Mo. | 88 | 🇨🇦 Canada | |||
BM ZDI International Dividend ETF | +12.54% | 0.40% | 2.86% | 2014 | 850M$ | 0.54 | Index | Mo. | 14K | 🇨🇦 Canada | |||
DY DXC Active Canadian Dividend ETF | +12.30% | 0.45% | 1.93% | 2017 | 405M$ | 0.42 | Active | Mo. | 4K | 🇨🇦 Canada | |||
IS XDV Canadian Select Dividend Index ETF | +12.11% | 0.55% | 3.04% | 2005 | 2.5G$ | -0.00 | Active | Mo. | 33K | 🇨🇦 Canada | |||
IS RCD RBC Quant Canadian Dividend Leaders ETF | +12.09% | 0.39% | 2.96% | 2014 | 401M$ | 0.59 | Index | Mo. | 6K | 🇨🇦 Canada | |||
FI FCUD U.S. High Dividend ETF | +11.84% | 0.35% | 2.04% | 2018 | 266M$ | 0.70 | Factor | Mo. | 1K | 🇨🇦 Canada | |||
FI FCCD Canadian High Dividend ETF | +11.74% | 0.35% | 3.17% | 2018 | 380M$ | 0.61 | Factor | Mo. | 4K | 🇨🇦 Canada | |||
FR FCII Franklin ClearBridge Global Infrastructure Income Fund | +11.08% | 0.85% | 2.99% | 2021 | 23M$ | 0.48 | Active | Mo. | 2K | 🇨🇦 Canada | |||
BM ZWH US High Dividend Covered Call ETF | +10.97% | 0.65% | 6.10% | 2014 | 1.1G$ | 0.38 | Covered Call | Mo. | 27K | 🇨🇦 Canada | |||
PU PDF Core Dividend Fund | +10.91% | 0.55% | 2.77% | 2013 | 238M$ | 0.63 | Index | Mo. | 5K | 🇨🇦 Canada | |||
CI DGR U.S. Quality Dividend Growth Index ETF | +10.79% | 0.35% | 1.53% | 2016 | 227M$ | 0.62 | Factor | Qtr. | 1K | 🇨🇦 Canada | |||
BM ZWC Canadian High Dividend Covered Call ETF | +10.61% | 0.65% | 5.62% | 2017 | 2.3G$ | 0.41 | Covered Call | Mo. | 118K | 🇨🇦 Canada | |||
IS XDG Core MSCI Global Quality Dividend Index ETF | +10.40% | 0.22% | 2.57% | 2017 | 737M$ | 0.61 | Factor | Mo. | 15K | 🇨🇦 Canada | |||
BM ZWG Global High Dividend Covered Call ETF | +10.35% | 0.65% | 5.60% | 2020 | 344M$ | 0.37 | Covered Call | Mo. | 6K | 🇨🇦 Canada | |||
IS CDZ S&P/TSX Canadian Dividend Aristocrats Index ETF | +10.31% | 0.60% | 2.93% | 2006 | 1.2G$ | 0.40 | Index | Mo. | 20K | 🇨🇦 Canada | |||
BM ZWP Europe High Dividend Covered Call ETF | +10.30% | 0.65% | 6.28% | 2018 | 1.1G$ | 1.09 | Covered Call | Mo. | 16K | 🇨🇦 Canada | |||
BM ZUD US Dividend Hedged to CAD ETF | +10.24% | 0.30% | +1 | 1.50% | 2013 | 165M$ | 0.91 | Index | Mo. | 2K | 🇨🇦 Canada | ||
IS XHU U.S. High Dividend Equity Index ETF | +10.08% | 0.34% | 2.27% | 2015 | 183M$ | 0.65 | Factor | Mo. | 2K | 🇨🇦 Canada | |||
FI FDL Morningstar Dividend Leaders ETF (CAD-Hedged) | +9.90% | 0.66% | 3.03% | 2016 | 12M$ | 0.55 | Active | Qtr. | 103 | 🇨🇦 Canada | |||
BR BDIV Global Dividend Growth ETF | +9.66% | 0.75% | 5.88% | 2018 | 133M$ | 0.41 | Factor | Mo. | 736 | 🇨🇦 Canada | |||
IS RUDH RBC Quant U.S. Dividend Leaders (CAD Hedged) ETF | +9.66% | 0.39% | +9 | 1.48% | 2014 | 242M$ | 0.75 | Index | Mo. | 1K | 🇨🇦 Canada |