Project how a CPD.TO position could grow through monthly distributions and reinvestment. Already pre-loaded with CPD.TO's current distribution rate and a sample $10,000 balance — edit the numbers below with your own.
$16,388.29 after 10 years
Monthly income by then: $67.32/mo
The green line is your balance — how big the whole position has grown. The yellow line is the running total of cash payouts you've actually received. On this chart, watch the yellow line more than the green one — since CPD.TO is an income fund, generating steady cash payouts is its main job, so that line should climb steadily.
| Date | Balance | Payout | Payouts so far |
|---|---|---|---|
| 2026-10-19 | $10,041.25 | $41.25 | $41.25 |
| 2026-11-19 | $10,082.67 | $41.42 | $82.67 |
| 2026-12-19 | $10,124.26 | $41.59 | $124.26 |
| 2027-01-19 | $10,166.02 | $41.76 | $166.02 |
| 2027-02-18 | $10,207.96 | $41.93 | $207.96 |
| 2027-03-21 | $10,250.07 | $42.11 | $250.07 |
| 2027-04-20 | $10,292.35 | $42.28 | $292.35 |
| 2027-05-21 | $10,334.80 | $42.46 | $334.80 |
| 2027-06-20 | $10,377.43 | $42.63 | $377.43 |
| 2027-07-20 | $10,420.24 | $42.81 | $420.24 |
| 2027-08-20 | $10,463.23 | $42.98 | $463.23 |
| 2027-09-19 | $10,506.39 | $43.16 | $506.39 |
| 2027-10-20 | $10,549.73 | $43.34 | $549.73 |
| 2027-11-19 | $10,593.24 | $43.52 | $593.24 |
| 2027-12-20 | $10,636.94 | $43.70 | $636.94 |
| 2028-01-19 | $10,680.82 | $43.88 | $680.82 |
| 2028-02-18 | $10,724.88 | $44.06 | $724.88 |
| 2028-03-20 | $10,769.12 | $44.24 | $769.12 |
| 2028-04-19 | $10,813.54 | $44.42 | $813.54 |
| 2028-05-20 | $10,858.14 | $44.61 | $858.14 |
| 2028-06-19 | $10,902.93 | $44.79 | $902.93 |
| 2028-07-20 | $10,947.91 | $44.97 | $947.91 |
| 2028-08-19 | $10,993.07 | $45.16 | $993.07 |
| 2028-09-19 | $11,038.42 | $45.35 | $1,038.42 |
| 2028-10-19 | $11,083.95 | $45.53 | $1,083.95 |
| 2028-11-18 | $11,129.67 | $45.72 | $1,129.67 |
| 2028-12-19 | $11,175.58 | $45.91 | $1,175.58 |
| 2029-01-18 | $11,221.68 | $46.10 | $1,221.68 |
| 2029-02-18 | $11,267.97 | $46.29 | $1,267.97 |
| 2029-03-20 | $11,314.45 | $46.48 | $1,314.45 |
| 2029-04-20 | $11,361.12 | $46.67 | $1,361.12 |
| 2029-05-20 | $11,407.99 | $46.86 | $1,407.99 |
| 2029-06-19 | $11,455.04 | $47.06 | $1,455.04 |
| 2029-07-20 | $11,502.30 | $47.25 | $1,502.30 |
| 2029-08-19 | $11,549.74 | $47.45 | $1,549.74 |
| 2029-09-19 | $11,597.39 | $47.64 | $1,597.39 |
| 2029-10-19 | $11,645.22 | $47.84 | $1,645.22 |
| 2029-11-19 | $11,693.26 | $48.04 | $1,693.26 |
| 2029-12-19 | $11,741.50 | $48.23 | $1,741.50 |
| 2030-01-19 | $11,789.93 | $48.43 | $1,789.93 |
| 2030-02-18 | $11,838.56 | $48.63 | $1,838.56 |
| 2030-03-20 | $11,887.40 | $48.83 | $1,887.40 |
| 2030-04-20 | $11,936.43 | $49.04 | $1,936.43 |
| 2030-05-20 | $11,985.67 | $49.24 | $1,985.67 |
| 2030-06-20 | $12,035.11 | $49.44 | $2,035.11 |
| 2030-07-20 | $12,084.76 | $49.64 | $2,084.76 |
| 2030-08-20 | $12,134.61 | $49.85 | $2,134.61 |
| 2030-09-19 | $12,184.66 | $50.06 | $2,184.66 |
| 2030-10-19 | $12,234.92 | $50.26 | $2,234.92 |
| 2030-11-19 | $12,285.39 | $50.47 | $2,285.39 |
| 2030-12-19 | $12,336.07 | $50.68 | $2,336.07 |
| 2031-01-19 | $12,386.95 | $50.89 | $2,386.95 |
| 2031-02-18 | $12,438.05 | $51.10 | $2,438.05 |
| 2031-03-21 | $12,489.36 | $51.31 | $2,489.36 |
| 2031-04-20 | $12,540.88 | $51.52 | $2,540.88 |
| 2031-05-21 | $12,592.61 | $51.73 | $2,592.61 |
| 2031-06-20 | $12,644.55 | $51.94 | $2,644.55 |
| 2031-07-20 | $12,696.71 | $52.16 | $2,696.71 |
| 2031-08-20 | $12,749.09 | $52.37 | $2,749.09 |
| 2031-09-19 | $12,801.68 | $52.59 | $2,801.68 |
| 2031-10-20 | $12,854.48 | $52.81 | $2,854.48 |
| 2031-11-19 | $12,907.51 | $53.02 | $2,907.51 |
| 2031-12-20 | $12,960.75 | $53.24 | $2,960.75 |
| 2032-01-19 | $13,014.21 | $53.46 | $3,014.21 |
| 2032-02-18 | $13,067.90 | $53.68 | $3,067.90 |
| 2032-03-20 | $13,121.80 | $53.91 | $3,121.80 |
| 2032-04-19 | $13,175.93 | $54.13 | $3,175.93 |
| 2032-05-20 | $13,230.28 | $54.35 | $3,230.28 |
| 2032-06-19 | $13,284.85 | $54.57 | $3,284.85 |
| 2032-07-20 | $13,339.66 | $54.80 | $3,339.66 |
| 2032-08-19 | $13,394.68 | $55.03 | $3,394.68 |
| 2032-09-19 | $13,449.93 | $55.25 | $3,449.93 |
| 2032-10-19 | $13,505.42 | $55.48 | $3,505.42 |
| 2032-11-18 | $13,561.12 | $55.71 | $3,561.12 |
| 2032-12-19 | $13,617.06 | $55.94 | $3,617.06 |
| 2033-01-18 | $13,673.23 | $56.17 | $3,673.23 |
| 2033-02-18 | $13,729.64 | $56.40 | $3,729.64 |
| 2033-03-20 | $13,786.27 | $56.63 | $3,786.27 |
| 2033-04-20 | $13,843.14 | $56.87 | $3,843.14 |
| 2033-05-20 | $13,900.24 | $57.10 | $3,900.24 |
| 2033-06-19 | $13,957.58 | $57.34 | $3,957.58 |
| 2033-07-20 | $14,015.16 | $57.58 | $4,015.16 |
| 2033-08-19 | $14,072.97 | $57.81 | $4,072.97 |
| 2033-09-19 | $14,131.02 | $58.05 | $4,131.02 |
| 2033-10-19 | $14,189.31 | $58.29 | $4,189.31 |
| 2033-11-19 | $14,247.84 | $58.53 | $4,247.84 |
| 2033-12-19 | $14,306.61 | $58.77 | $4,306.61 |
| 2034-01-19 | $14,365.63 | $59.01 | $4,365.63 |
| 2034-02-18 | $14,424.89 | $59.26 | $4,424.89 |
| 2034-03-20 | $14,484.39 | $59.50 | $4,484.39 |
| 2034-04-20 | $14,544.14 | $59.75 | $4,544.14 |
| 2034-05-20 | $14,604.13 | $59.99 | $4,604.13 |
| 2034-06-20 | $14,664.37 | $60.24 | $4,664.37 |
| 2034-07-20 | $14,724.86 | $60.49 | $4,724.86 |
| 2034-08-20 | $14,785.60 | $60.74 | $4,785.60 |
| 2034-09-19 | $14,846.60 | $60.99 | $4,846.60 |
| 2034-10-19 | $14,907.84 | $61.24 | $4,907.84 |
| 2034-11-19 | $14,969.33 | $61.49 | $4,969.33 |
| 2034-12-19 | $15,031.08 | $61.75 | $5,031.08 |
| 2035-01-19 | $15,093.08 | $62.00 | $5,093.08 |
| 2035-02-18 | $15,155.34 | $62.26 | $5,155.34 |
| 2035-03-21 | $15,217.86 | $62.52 | $5,217.86 |
| 2035-04-20 | $15,280.63 | $62.77 | $5,280.63 |
| 2035-05-21 | $15,343.67 | $63.03 | $5,343.67 |
| 2035-06-20 | $15,406.96 | $63.29 | $5,406.96 |
| 2035-07-20 | $15,470.51 | $63.55 | $5,470.51 |
| 2035-08-20 | $15,534.33 | $63.82 | $5,534.33 |
| 2035-09-19 | $15,598.41 | $64.08 | $5,598.41 |
| 2035-10-20 | $15,662.75 | $64.34 | $5,662.75 |
| 2035-11-19 | $15,727.36 | $64.61 | $5,727.36 |
| 2035-12-20 | $15,792.23 | $64.88 | $5,792.23 |
| 2036-01-19 | $15,857.38 | $65.14 | $5,857.38 |
| 2036-02-18 | $15,922.79 | $65.41 | $5,922.79 |
| 2036-03-20 | $15,988.47 | $65.68 | $5,988.47 |
| 2036-04-19 | $16,054.42 | $65.95 | $6,054.42 |
| 2036-05-20 | $16,120.65 | $66.22 | $6,120.65 |
| 2036-06-19 | $16,187.14 | $66.50 | $6,187.14 |
| 2036-07-20 | $16,253.92 | $66.77 | $6,253.92 |
| 2036-08-19 | $16,320.96 | $67.05 | $6,320.96 |
| 2036-09-19 | $16,388.29 | $67.32 | $6,388.29 |
iShares S&P/TSX Canadian Preferred Share Index ETF Common Class, launched April 10, 2007.
CPD.TO — iShares S&P/TSX Canadian Preferred Share Index ETF
This is an income-leaning fund. Backing out the numbers: BlackRock's own 10-year annualized return is 6.34%, and the current yield is around 5%, which leaves only about 1-1.5% a year in actual price growth. So like XRE, the bulk of what this fund has returned over the long run has been the distribution, not the unit price climbing.
CPD is a different kind of holding than anything else covered here so far, though — it's not common shares, it's preferred shares. Preferred shares sit between a bond and a regular stock: they pay a fixed, contractually set dividend that (unlike common dividends) companies are legally obligated to pay before they can pay anything to common shareholders, but they don't come with the same growth potential common stock has, and their price moves more like a bond's — sensitive to interest rates rather than to how well the underlying business is doing. CPD holds about 150 different preferred shares from large Canadian companies (Enbridge, Brookfield, Manulife, BCE, and others), spread across financials (about 52%), energy (about 21%), and utilities (about 18%).
On fees: the MER is 0.49% — reasonable for this type of specialized fund.
It pays monthly, currently around $0.06/unit, working out to a yield around 5% at today's price (around $14.30). Performance has actually been strong the past two years (up 24% in 2024, 15% in 2025), but the fund's own official numbers make clear this isn't always smooth — it dropped in 2 of the last 10 calendar years, most notably 2022 (-18.4%, a rough year for rate-sensitive investments generally as interest rates rose sharply), and its worst 3-month stretch (ending March 2020) took a $1,000 investment down to $772.
What's the actual risk rating?
BlackRock's own ETF Facts document rates CPD "Medium" risk. There's genuinely thin professional coverage on this one to compare against — no analysts on Stockchase covered it in the past year, which is worth saying plainly rather than treating silence as a good sign. What general commentary does exist tends to frame CPD as something to be selective about timing-wise, since preferred shares as a category are especially sensitive to where interest rates are headed — the general view has been that it's a "wait and see on rates" kind of holding rather than an anytime buy, and some commentary suggests investors specifically interested in this category consider utility-focused preferred shares instead, since utilities operate under more predictable, regulated returns than the banks and insurers that dominate this fund.
Plain-English bottom line: The fund is officially rated "Medium" for volatility — but the more useful thing to know is that this is a different kind of risk than the equity dividend funds on this site carry. It's rate risk, not just market risk, and there's little independent analyst tracking to check the label against.
A high yield alone doesn't say whether a fund's price is holding up or quietly being eaten away to help fund the payout — this looks at that separately, using the fund's real price history, not a prediction. Declining doesn't mean the fund is a bad choice; some funds are built to pay out more than they grow, on purpose. It just means part of what you're receiving may be a return of your own money rather than new income.
Est. -1.7%/yr price decline since inception (SI total return ~3.3%/yr annualized over ~19.3 yrs since Apr 2007 vs. current yield ~4.95%); cross-checked against actual NAV move from ~$20 issue price to $14.27, a similar CAGR
This page is for informational and educational purposes only and does not constitute financial advice. It does not account for taxes, fees, or changes in distribution rates, and past distributions are not a guarantee of future payments. Consult a qualified financial advisor before making investment decisions.
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