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Opinions Michael Sprung
Canoe EIT Income FundEIT.UN.TODON'T BUYJul 18, 2006
A diversified portfolio of income, royalty and real estate investment trusts. Are you better with this is a package or buying the individual parts on your own? He would prefer the latter route.
$7.20
Stock price when the opinion was issued
$17.27
As of Jun 19, 2026. Market Open.
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COMMENT
Not a fan of closed fund since the underlying securities will deviate from the net asset value of the fund. There are big dislocations. Underlying holdings are good quality companies. On a weighted basis, the yield is 3%, but the fund is paying 8%. This comes from the capital gains. It is not pure yield.
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COMMENT
Pays an 11% dividend yield. How are they paying that? They probably hold a lot of Canadian infrastructure but those stocks pay only 3-4%. The US component is also dragging down that yield. There's a mismatch here in holdings vs. the 11% yield. The total return will probably be 5-7%, but the high yield will limit share performance. This is a warning. Look at their top holdings and see how you feel about that.
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