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Updated July 18
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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 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
VA VDY FTSE Canadian High Dividend Yield Index ETF | +19.31% | 0.20% | +1 | 2.82% | 2012 | 9.1G$ | -0.00 | Factor | Mo. | 244K | 🇨🇦 Canada | ||
IS XDIV Core MSCI Canadian Quality Dividend Index ETF | +18.54% | 0.11% | 2.96% | 2017 | 6.0G$ | -0.00 | Factor | Mo. | 200K | 🇨🇦 Canada | |||
TD TQCD TD Q Canadian Dividend ETF | +18.24% | 0.35% | 2.54% | 2019 | 3.4G$ | 0.65 | Index | Mo. | 197K | 🇨🇦 Canada | |||
GL HXH Canadian High Dividend Index Corporate Class ETF | +18.00% | 0.01% | 0.00% | 2016 | 253M$ | 0.51 | Factor | — | 2K | 🇨🇦 Canada | |||
IS XEI S&P/TSX Composite High Dividend Index ETF | +16.45% | 0.22% | 3.20% | 2011 | 4.4G$ | 0.63 | Factor | Mo. | 193K | 🇨🇦 Canada | |||
VA VIDY FTSE Developed ex North America High Dividend Yield Index ETF | +16.21% | 0.28% | 2.34% | 2018 | 2.1G$ | 0.27 | Factor | Qtr. | 49K | 🇨🇦 Canada | |||
GL HAL Active Canadian Dividend ETF | +16.19% | 0.35% | 1.90% | 2010 | 125M$ | 0.43 | Active | Qtr. | 2K | 🇨🇦 Canada | |||
IS RIDH RBC Quant EAFE Dividend Leaders (CAD Hedged) ETF | +14.96% | 0.49% | +9 | 3.08% | 2014 | 157M$ | 0.55 | Index | Mo. | 2K | 🇨🇦 Canada | ||
TD TGED TD Active Global Enhanced Dividend ETF | +14.87% | 0.65% | 2.90% | 2019 | 1.8G$ | 0.70 | Active | Mo. | 120K | 🇨🇦 Canada | |||
TD TQGD TD Q Global Dividend ETF | +14.80% | 0.40% | 2.49% | 2019 | 867M$ | 0.76 | Index | Mo. | 42K | 🇨🇦 Canada | |||
BM ZDV Canadian Dividend ETF | +14.78% | 0.35% | 2.47% | 2011 | 1.9G$ | 0.62 | Index | Mo. | 60K | 🇨🇦 Canada | |||
IN PDC Canadian Dividend Index ETF | +14.72% | 0.50% | +1 | 2.92% | 2011 | 1.1G$ | -0.00 | Index | Mo. | 1K | 🇨🇦 Canada | ||
IS RPD RBC Quant European Dividend Leaders ETF | +14.46% | 0.49% | 2.85% | 2014 | 125M$ | 1.07 | Index | Mo. | 3K | 🇨🇦 Canada | |||
PU PID International Dividend Fund | +14.40% | 0.67% | 2.59% | 2015 | 198M$ | 0.15 | Active | Mo. | 4K | 🇨🇦 Canada | |||
FI FCID International High Dividend ETF | +14.25% | 0.45% | 3.96% | 2018 | 362M$ | 0.19 | Factor | Mo. | 7K | 🇨🇦 Canada | |||
IS XDV Canadian Select Dividend Index ETF | +14.14% | 0.55% | 3.17% | 2005 | 2.7G$ | -0.00 | Active | Mo. | 27K | 🇨🇦 Canada | |||
TD TUED TD Active U.S. Enhanced Dividend ETF | +14.14% | 0.65% | 2.82% | 2020 | 667M$ | 0.61 | Active | Mo. | 34K | 🇨🇦 Canada | |||
MA CDIV Smart Dividend ETF | +14.09% | 0.25% | 2.23% | 2020 | 1.7G$ | 0.63 | Index | Qtr. | 45K | 🇨🇦 Canada | |||
BM ZDH International Dividend Hedged to CAD ETF | +14.07% | 0.40% | +2 | 2.76% | 2015 | 235M$ | 0.59 | Index | Mo. | 4K | 🇨🇦 Canada | ||
CI DGRC Canada Quality Dividend Growth Index ETF | +13.92% | 0.21% | 2.91% | 2017 | 966M$ | 0.51 | Factor | Qtr. | 8K | 🇨🇦 Canada | |||
GL HAZ Active Global Dividend ETF | +13.84% | 0.50% | 0.83% | 2010 | 466M$ | 0.68 | Active | Qtr. | 15K | 🇨🇦 Canada | |||
MI MUSA Middlefield U.S. Equity Dividend ETF | +13.46% | 2.19% | 1.94% | 2013 | 53M$ | 0.21 | Active | Mo. | 360 | 🇨🇦 Canada | |||
DY DXU Active U.S. Dividend ETF | +13.40% | 0.75% | 0.00% | 2017 | 94M$ | 0.64 | Active | — | 1K | 🇨🇦 Canada | |||
IS RID RBC Quant EAFE Dividend Leaders ETF | +13.39% | 0.54% | 2.85% | 2014 | 546M$ | 0.54 | Index | Mo. | 5K | 🇨🇦 Canada | |||
IS RPDH RBC Quant European Dividend Leaders (CAD Hedged) ETF | +13.27% | 0.49% | +9 | 3.02% | 2014 | 25M$ | 1.07 | Index | Mo. | 763 | 🇨🇦 Canada | ||
DY DXC Active Canadian Dividend ETF | +13.20% | 0.45% | 1.84% | 2017 | 421M$ | 0.42 | Active | Mo. | 9K | 🇨🇦 Canada | |||
MI MDIV Middlefield Global Dividend Growers ETF | +13.19% | 1.31% | 3.09% | 2013 | 65M$ | 0.51 | Active | Mo. | 2K | 🇨🇦 Canada | |||
IS RUD RBC Quant U.S. Dividend Leaders ETF | +13.15% | 0.39% | 1.35% | 2014 | 909M$ | 0.42 | Index | Mo. | 6K | 🇨🇦 Canada | |||
DY DXG Active Global Dividend ETF | +12.96% | 0.75% | 0.00% | 2017 | 916M$ | 0.57 | Active | Ann. | 9K | 🇨🇦 Canada | |||
BM ZDI International Dividend ETF | +12.68% | 0.40% | 2.76% | 2014 | 886M$ | 0.54 | Index | Mo. | 15K | 🇨🇦 Canada | |||
PU PDF Core Dividend Fund | +12.41% | 0.55% | 2.60% | 2013 | 252M$ | 0.63 | Index | Mo. | 6K | 🇨🇦 Canada | |||
VA VGG U.S. Dividend Appreciation Index ETF | +12.40% | 0.28% | +9 | 1.03% | 2013 | 2.6G$ | 0.33 | Index | Qtr. | 13K | 🇨🇦 Canada | ||
BM ZDY US Dividend ETF | +12.34% | 0.30% | 1.34% | 2013 | 885M$ | 0.79 | Index | Mo. | 8K | 🇨🇦 Canada | |||
FI FCCD Canadian High Dividend ETF | +12.30% | 0.35% | 3.03% | 2018 | 389M$ | 0.61 | Factor | Mo. | 3K | 🇨🇦 Canada | |||
IS RCD RBC Quant Canadian Dividend Leaders ETF | +11.97% | 0.39% | 2.90% | 2014 | 407M$ | 0.62 | Index | Mo. | 4K | 🇨🇦 Canada | |||
NA NDIV NBI Canadian Dividend Income ETF | +11.76% | 0.55% | 1.82% | 2021 | 18M$ | 0.50 | Index | Mo. | 11 | 🇨🇦 Canada | |||
BM ZWC Canadian High Dividend Covered Call ETF | +11.68% | 0.65% | 5.73% | 2017 | 2.5G$ | 0.40 | Covered Call | Mo. | 96K | 🇨🇦 Canada | |||
FI FCUD U.S. High Dividend ETF | +11.62% | 0.35% | 2.00% | 2018 | 269M$ | 0.69 | Factor | Mo. | 1K | 🇨🇦 Canada | |||
IS CDZ S&P/TSX Canadian Dividend Aristocrats Index ETF | +11.40% | 0.60% | 2.77% | 2006 | 1.3G$ | 0.40 | Index | Mo. | 17K | 🇨🇦 Canada | |||
FI FDL Morningstar Dividend Leaders ETF (CAD-Hedged) | +11.01% | 0.66% | 3.38% | 2016 | 12M$ | 0.54 | Active | Qtr. | 166 | 🇨🇦 Canada | |||
FR FCII Franklin ClearBridge Global Infrastructure Income Fund | +10.76% | 0.85% | +1 | 3.13% | 2021 | 23M$ | 0.49 | Active | Mo. | 2K | 🇨🇦 Canada | ||
IS XHU U.S. High Dividend Equity Index ETF | +10.73% | 0.34% | 2.19% | 2015 | 211M$ | 0.65 | Factor | Mo. | 2K | 🇨🇦 Canada | |||
IS XDG Core MSCI Global Quality Dividend Index ETF | +10.68% | 0.22% | 2.46% | 2017 | 765M$ | 0.62 | Factor | Mo. | 12K | 🇨🇦 Canada | |||
BR BDIV Global Dividend Growth ETF | +10.43% | 0.75% | 5.67% | 2018 | 135M$ | 0.42 | Factor | Mo. | 603 | 🇨🇦 Canada | |||
CI DGR U.S. Quality Dividend Growth Index ETF | +10.37% | 0.35% | 1.18% | 2016 | 220M$ | 0.62 | Factor | Qtr. | 2K | 🇨🇦 Canada | |||
BM ZWP Europe High Dividend Covered Call ETF | +10.16% | 0.65% | 6.12% | 2018 | 1.1G$ | 1.07 | Covered Call | Mo. | 14K | 🇨🇦 Canada | |||
IS CYH Global Monthly Dividend Index ETF (CAD-Hedged) | +10.00% | 0.65% | 3.07% | 2008 | 199M$ | 0.79 | Index | Mo. | 8K | 🇨🇦 Canada | |||
NA NREA NBI Global Real Assets Income Fund | +9.95% | 0.80% | 1.75% | 2019 | 1.8G$ | 0.47 | Active | Mo. | 3K | 🇨🇦 Canada | |||
BM ZUD US Dividend Hedged to CAD ETF | +9.92% | 0.30% | +1 | 1.46% | 2013 | 162M$ | 0.91 | Index | Mo. | 3K | 🇨🇦 Canada | ||
IS RUDH RBC Quant U.S. Dividend Leaders (CAD Hedged) ETF | +9.78% | 0.39% | +9 | 1.56% | 2014 | 248M$ | 0.77 | Index | Mo. | 2K | 🇨🇦 Canada |