Latest Paid
$0.132
2026-07-09
DIVIDEND NORTH ETF RESEARCH
BANK
Speculative Buy / Monitor CloselyEvolve Canadian Banks and Lifecos Enhanced Yield Index Fund
BANK provides 1.25x leveraged exposure to ten large Canadian banks and life insurers, with discretionary covered calls on up to one-third of the portfolio. Recent returns and income have been exceptional, but the 2022 drawdown shows how quickly leverage can reverse the outcome.
Next Distribution
$0.152
Confirmed
Annualized Payout
$1.584
Based on latest payment · Monthly
Recent Trend
+26.67%
Change across the latest six regular payments
Paid Events
53
Historical records loaded
Projected Events
0
Active forward estimates
Management Fee
—
Issuer-reported field
Leverage
—
Fund-level leverage, when available
LIVE DISTRIBUTION INTELLIGENCE
Dividend history and projections
Confirmed and paid records come from imported issuer data. Amber rows are model-based estimates and are not issuer declarations.
Last Paid
$0.132
Jul 9, 2026
Next Distribution
$0.152
confirmed
Trailing 12-Month Total
$1.414
12 paid distributions
Payout Trend
↑ Growing
+26.67%
Distribution Stability
Stable
83/100 consistency score
PaidConfirmedProjected
Showing 36 recent events
| Ex-date | Payment | Amount | Status | Confidence / model |
|---|---|---|---|---|
| Jul 31, 2026 | Aug 10, 2026 | $0.152 | confirmed | Imported issuer event · 100% confidence |
| Jun 30, 2026 | Jul 9, 2026 | $0.132 | paid | Imported issuer event · 100% confidence |
| May 29, 2026 | Jun 5, 2026 | $0.132 | paid | Imported issuer event · 100% confidence |
| Apr 30, 2026 | May 7, 2026 | $0.12 | paid | Imported issuer event · 100% confidence |
| Mar 31, 2026 | Apr 8, 2026 | $0.12 | paid | Imported issuer event · 100% confidence |
| Feb 27, 2026 | Mar 6, 2026 | $0.12 | paid | Imported issuer event · 100% confidence |
| Jan 30, 2026 | Feb 6, 2026 | $0.12 | paid | Imported issuer event · 100% confidence |
| Dec 31, 2025 | Jan 8, 2026 | $0.12 | paid | Imported issuer event · 100% confidence |
| Nov 28, 2025 | Dec 5, 2025 | $0.11 | paid | Imported issuer event · 100% confidence |
| Oct 31, 2025 | Nov 7, 2025 | $0.11 | paid | Imported issuer event · 100% confidence |
| Sep 29, 2025 | Oct 8, 2025 | $0.11 | paid | Imported issuer event · 100% confidence |
| Aug 29, 2025 | Sep 8, 2025 | $0.11 | paid | Imported issuer event · 100% confidence |
| Jul 31, 2025 | Aug 8, 2025 | $0.11 | paid | Imported issuer event · 100% confidence |
| Jun 30, 2025 | Jul 8, 2025 | $0.11 | paid | Imported issuer event · 100% confidence |
| May 30, 2025 | Jun 6, 2025 | $0.11 | paid | Imported issuer event · 100% confidence |
| Apr 30, 2025 | May 7, 2025 | $0.11 | paid | Imported issuer event · 100% confidence |
| Mar 31, 2025 | Apr 7, 2025 | $0.11 | paid | Imported issuer event · 100% confidence |
| Feb 28, 2025 | Mar 7, 2025 | $0.11 | paid | Imported issuer event · 100% confidence |
| Jan 31, 2025 | Feb 7, 2025 | $0.11 | paid | Imported issuer event · 100% confidence |
| Dec 31, 2024 | Jan 8, 2025 | $0.11 | paid | Imported issuer event · 100% confidence |
| Nov 29, 2024 | Dec 6, 2024 | $0.11 | paid | Imported issuer event · 100% confidence |
| Oct 31, 2024 | Nov 7, 2024 | $0.11 | paid | Imported issuer event · 100% confidence |
| Sep 27, 2024 | Oct 4, 2024 | $0.10 | paid | Imported issuer event · 100% confidence |
| Aug 30, 2024 | Sep 9, 2024 | $0.10 | paid | Imported issuer event · 100% confidence |
Source: imported issuer distribution records and Dividend North projection engine.Updated 2026-07-29, 10:13:47 a.m.
Quick take
Is BANK still attractive after its strong run?
BANK remains attractive for income-oriented investors who are bullish on Canadian financials, but the fund should be sized as a leveraged sector position rather than treated like a broad-market ETF.
What may appeal
- ✓High monthly income supported by a profitable Canadian-financial basket.
- ✓Equal weighting reduces dependence on only the largest banks.
- ✓Strong multi-year performance through the current bank cycle.
What needs caution
- !A narrow, single-sector portfolio can fall sharply in a credit or recession shock.
- !Leverage amplifies losses as clearly as it amplifies gains.
- !Covered calls may limit some upside during powerful rallies.
Investor fit
Suitable as a satellite holding for investors who want concentrated Canadian-financial exposure, monthly income and can tolerate leveraged sector drawdowns. It is not a diversified core-equity replacement.
BANK price history
Switch between line and bar views and move back through available history. The live series is market price; the fund-note NAV snapshots remain the fallback when the data feed is unavailable.
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Historical total-return comparison
Each series is rebased to 0% at the beginning of the selected range, allowing a like-for-like performance comparison. This is price return unless the data provider supplies adjusted total-return pricing.
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How the fund works
How BANK is constructed
Equal-weight financial basket
The underlying index holds ten large Canadian banks and life insurers and rebalances them equally.
1.25x exposure
Cash borrowing lifts market exposure to approximately 125% of NAV, increasing both income and volatility.
Discretionary call writing
Covered calls may be written on up to one-third of the portfolio to supplement monthly distributions.
Dividend North scorecard
Strong income, cyclical risk
Income sustainability
High but dependent on sector conditions
NAV health
Strong recent cycle
Distribution consistency
Monthly income record
Holdings quality
Large banks and insurers
Cost efficiency
Moderate fee plus leverage cost
Risk control
Concentration and leverage
Alternatives
BANK versus broader approaches
Approximate figures reproduced from the July 2026 research note. Verify current values with each issuer.
| ETF | Strategy | Leverage | Diversification | Yield | 2026 return |
|---|---|---|---|---|---|
| BANK | Leveraged Canadian banks and lifecos | 1.25x | 10 financial names | 12.14% | +65.56% |
| HMAX | Canadian financials with covered calls | None | Financial sector | High | +24.0% |
| ZEB | Equal-weight Canadian banks | None | 6 banks | Moderate | +18.0% |
Risk review
Key risks for BANK
Leveraged financial-sector drawdown
A recession, credit event or housing shock can pressure most holdings at once while 1.25x leverage magnifies the move.
Single-sector concentration
Equal weighting improves balance within financials but does not diversify away from Canadian financial-system risk.
Covered-call opportunity cost
Call writing can reduce participation in sharp rallies on the covered portion.
Borrowing-cost drag
Higher financing costs reduce the benefit of leverage and can pressure distributable cash.
Final Dividend North view
BANK has delivered outstanding recent results, but the return profile is inseparable from 1.25x leverage and a narrow financial-sector mandate. It can work well as a monitored satellite holding; it should not be mistaken for a low-risk core income fund.
This page summarizes the Dividend North BANK fund note dated July 17, 2026. Verify all figures with the issuer. Educational only; not investment, tax or legal advice.