For educational purposes only. Nothing on this site constitutes investment advice. Disclaimers
Alpha Stacking
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For educational purposes only. Nothing on this site constitutes investment advice. Disclaimers
Alpha Stacking
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For educational purposes only. Nothing on this site constitutes investment advice. Disclaimers
EIT.UN is a closed-end income fund that runs an actively managed book of equities and other income-producing securities, targeting monthly distributions and NAV growth rather than a rules-based dividend index.
Total return (Yahoo adjusted close—dividends and splits per Yahoo), normalized to $10,000 at first available trade date. Educational only.
EIT holds income-generating and capital-growth securities across sectors and market capitalizations. The mandate can combine common equity, preferred shares, debt, and related instruments, so it is an active allocation vehicle, not a plain Canadian dividend ETF. The fund may borrow up to 20% of total assets, which lifts both the income engine and drawdown risk.
The monthly cash distribution is a policy choice, not a coupon. Canoe says it can be supported by dividends, interest, realized and unrealized gains, and return of capital. Read the annual tax breakdown and the fund's market-price discount or premium to NAV before treating the stated distribution rate as investment yield.
Canoe Financial has managed EIT since Robert Taylor became portfolio manager in July 2013. The fund began in 1997 and reported about $3.1 billion in total assets in January 2025, making it one of Canada's larger closed-end income funds.
This is a closed-end trust, not an open-end ETF. Units trade at a market price and Canoe offers an annual capped redemption of up to 10% of outstanding units at 95% of NAV. That structure can leave a persistent discount or premium to NAV, and permitted borrowing makes its distribution mandate a capital-allocation decision, not a passive index result.
Outperforms when equity income compounds and the discount narrows: the active portfolio earns dividends and gains while investors reward its distribution policy, adding market-price appreciation above underlying NAV movement.
Underperforms when equity income disappoints and the discount widens: an equity selloff, weaker gains, or lost appetite for closed-end income vehicles can hit both NAV and the market-price discount. Favorable tape: active equity income with a stable or narrowing discount. Hostile tape: falling equity income with a widening discount.
Read the factor investing guide for the return driver, failure modes, and how this type of sleeve fits in an alpha stacking portfolio.
| Ticker | Name | Score | MER | AUM |
|---|---|---|---|---|
| EIT.UN | Canoe EIT Income Fund | A | 1.1% management fee | ~$3.1B CAD (Jan. 2025) |
| HDGE | Accelerate Absolute Return Fund | A | 3.95% | ~$105M CAD |
| HEQL | Global X Enhanced All-Equity Asset Allocation ETF | B+ | 0.45% | ~$19M CAD |
| HSU | BetaPro S&P 500 2x Daily Bull ETF | N/A | 1.50% | ~$170M CAD |
| USSL | Global X Enhanced S&P 500 Index ETF | A | 0.50% | ~$250M CAD |
| Portfolio | Category | Portfolio rating | Allocation |
|---|---|---|---|
| Grandma's Portfolio | Retirement | A+ | 15% |
| Low Beta Income | Retirement | B+ | 10% |
| Dividends | Retirement | B | 30% |
Use the issuer and regulatory documents below to verify current holdings, fees, exposure, and risk disclosures.