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RBC iShares
About 4.4% recurring income, and over the last 3 years capital grew 13%/yr.
Payout over time
Fund health
Where the 3-year return came from
3-year annualized, on a shared scale: bars left of the line are negative. Capital appreciation is the fund's own unit-price change; income return is the contribution from distributions being reinvested. The two combine (multiplicatively) to the total return.
Dividend growth
The fund's recurring dividend income per unit, year by year, stripped of return of capital and capital gains. This tracks whether the actual dividend stream is rising, which the headline yield can't show on its own, since a yield can be held up by return of capital or one-off capital gains.
How it's taxed
The CRA taxes each distribution dollar by its character. These shares are measured against the full taxable distribution, including any portion the fund reinvested as units rather than paying in cash.
| Character | % of taxable | $ / unit |
|---|---|---|
| Eligible dividends | 90% | $1.1200 |
| Return of capital | 10% | $0.1300 |
Return of capital is not tax-free. It lowers your adjusted cost base, so the deferred tax can increase a later capital gain or reduce a later capital loss when you sell.
Based on RBC iShares's 2025 T3 / tax-factor filing. Character can vary year to year. This is not tax advice; consult a tax professional about your situation.
Character mix by year
What you keep, in your account
Each figure below starts from the headline yield of 4.9% and shows an estimate of what you keep after tax. Where you hold the fund changes the answer: a TFSA shelters Canadian tax and can still lose foreign withholding tax when the fund has foreign withholding, a non-registered account taxes each character at its own rate, and an RRSP defers tax until you withdraw.
These figures are estimates at the top ON marginal tax rate, not your personal rate. The return-of-capital portion is not taxed now: it lowers your cost base, so more of your eventual sale is taxed as a capital gain instead.
Illustrative, not tax advice.
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Next steps
Prices as of 2026-07-27. Distributions as of 2026-07-28. Tax character year 2025.
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Coverage 4.1×: The fund paid a 4.9% distribution rate against a 19.8% a year total return; the total return was at least the current distribution rate over this window.
Of the 4.9% distribution rate, 4.4 points were classified as recurring income in the latest T3 tax-character split (dividends, interest, foreign income); the rest was capital gains and return of capital.
Own payout record
Cash distributed per unit, by calendar year, from the fund's own distribution history (up to the last 6 years). "Reduced" marks a year where the cash paid per unit fell more than 5% versus the prior year.