Harvest High Income Shares™ turned a year old today. This rounds out 12 months of continued success, as the single stock ETF suite has accumulated over $2.5 billion in total assets under management (AUM). The Harvest Diversified High Income Shares ETF (TSX: HHIS) has made a huge splash among investors with its combination of access to the growth of top US stocks and high monthly cash distributions. HHIS and its corresponding single stock ETFs target trending U.S. companies that have high growth prospects.
Now investors can access top Canadian issuers using Harvest Canadian High-Income Shares. In August Harvest launched the Harvest Canadian High Income Shares ETF (TSX: HHIC), and 10 new Canadian single-stock High Income Shares ETFs. Canadian High Income Shares are designed to generate high monthly cash distributions from an active covered call writing strategy and use of modest leverage.
Affordable Access to Canada’s Best Companies
Canada is home to many great companies that investors have been able to rely on to generate consistent earnings for the long term. Many of these companies operate as oligopolies. This means that they have very little competition and are also able to generate large and steady cashflows. Many of these names are price setters with the ability to change prices to their benefit. These companies are dominant players in their respective sectors. With Harvest Canadian Single stock ETFs, investors now have a straightforward and affordable way to make some of these Canadian giants part of their portfolio. Investors will be able to tap into their growth potential while benefiting from high monthly income supported by an active covered call strategy.
In this piece we will review each new ETF and examine, in general, the quality characteristics of the company in which each invests.
*Initial distribution announced on August 21, 2025. Payable on October 9 to unitholders on record as of September 29, 2025.
Shopify | A Canadian Tech Darling
The Harvest Shopify Enhanced High Income Shares ETF (TSX: SHPE) invests all its assets in shares of Shopify. SHPE overlays an active covered call writing strategy and employs modest leverage at approximately 25% to generate higher monthly income and boost growth potential.
The Canadian technology space has lacked a name with the ability to punch with US heavyweights since the fall of Blackberry. Fortunately, Shopify has proven capable of filling that void, quickly developing into one of the most exciting Canadian technology stories.
Shopify snapshot:
- Profitability: Shopify posted strong recent earnings, with net income of $906 million in Q2 2025
- Balance sheet: The company boasts a healthy cash position with nearly US$6 billion in liquid assets and minimal debt
- Long-Term potential: Shopify has pursued aggressive investment in AI, enterprise, and international growth to propel its business forward
Getting Income from Canadian Banks
The Harvest Royal Bank Enhanced High Income Shares ETF (TSX: RYHE) and the Harvest TD Bank Enhanced High Income Shares ETF (TSX: TDHE) invest all their assets in shares of Royal Bank and TD Bank, respectively. Both are overlayed with an active covered call writing strategy and employ modest leverage at approximately 25% to generate higher income and growth prospects.
The Royal Bank of Canada and Toronto-Dominion Bank are the two largest banks in Canada, by market capitalization and by total assets. Indeed, RBC and TD Bank are the number one and the number three stocks on the S&P/TSX Composite Index by market cap.
RBC and TD Bank snapshot:
- Profitability: In fiscal 2024, RBC reported adjusted net income over $16 billion | TD Bank reported adjusted net income over $14 billion
- Well capitalized: RBC & TD Bank both possess total assets over $2 trillion
- Dividend history: RBC & TD 10+ years of dividend growth, respectively
- Long-term potential: Strong earnings & revenue growth and long-term catalysts like population growth
Higher Monthly Income from Communications
The Harvest BCE Enhanced High Income Shares ETF (TSX: BCEE) and the Harvest TELUS Enhanced High Income Shares ETF (TSX: TEHE) invest all their respective assets in shares of BCE and TELUS. These ETFs are overlayed with an active covered call strategy and both employ modest leverage at about 25% to enhance cashflow and growth potential.
Canadian telecommunication companies like BCE and TELUS are often described as oligopolies due to their concentration of market power in this space.
TELUS and BCE snapshot:
- Profitability: In 2024, TELUS delivered adjusted basic earnings per share (EPS) growth of 9.5% to $1.04 | BCE posted adjusted EPS of $0.63
- Infrastructure Investment: TELUS has pledged over $70 billion through 2029 to expand its network infrastructure, including two AI data centers | BCE is redirecting capital toward the Ziply Fiber acquisition and $1.2 billion towards “Bell AI Fabric”, which promotes AI infrastructure
- Dividend history: TELUS boasts a 20-year consecutive dividend-growth streak | BCE has hiked its dividend for 15 straight years
- Long-Term potential: Both TELUS and BCE well-positioned due to emerging AI growth and telecom infrastructure upgrades
Fuel with Higher Income
The Harvest Enbridge Enhanced High Income Shares ETF (TSX: ENBE), the Harvest Suncor Enhanced High Income Shares ETF (TSX: SUHE), and the Harvest CNQ Enhanced High Income Shares ETF (TSX: CNQE) offer access to Canada’s energy giants. All three are overlayed with Harvest’s proven covered call writing strategy and employ modest leverage to generate high levels of monthly income.
The energy space is constantly evolving, but Canada remains a giant in the oil and natural gas arena. Canadian High Income Shares offer exposure to three of Canada’s energy titans.
Enbridge, Suncor, & CNQ snapshot:
- Profitability: Enbridge has delivered stable, fee-based cashflows that support predictable earnings | Suncor posted adjusted operating earnings of $873 million in Q2 2025 | In Q1 2025, CNQ posted adjusted net earnings of $2.4 billion and adjusted funds flow of $4.5 billion
- Balance sheet: Enbridge boasts a $32 billion growth backlog with a debt-to-EBITDA ratio around 4.7x | Suncor has recently reduced its net debt by 21% from the prior year, providing more financial flexibility | CNQ has lowered its net debt by billions in Q1 2025 and possesses $5 billion in cash reserves
- Dividend history: Enbridge possesses a 30-year dividend growth streak, with a long-term dividend growth around 9% CAGR | Suncor recently raised its quarterly dividend by 5% | CNQ has achieved 25 straight years of dividend growth
- Long-Term potential: Enbridge allocating $6-7 billion in secured projects annually, with projected EBITDA/EPS growth of ~7-9% through 2026 | Suncor pursuing operational improvements including autonomous mining tech | CNQ possesses over 40 years of oil sands reserves alongside acquisitions like Chevron’s oil sands and disciplined capital allocation
Mining Higher Income
The Harvest Agnico Eagle Enhanced High Income Shares ETF (TSX: AEME)and the Harvest Cameco Enhanced High Income Shares ETF (TSX: CCOE) provide access to a majority of the upside of these Canadian miners. Both are overlayed with covered calls and modest leverage, aiming to generate higher monthly income.
The Canadian mining industry is well-positioned to benefit from catalysts like the increased global demand for minerals and metals. This is particularly true for those used in emerging technologies and for renewable energy generation.
Agnico Eagle & Cameco snapshot:
- Profitability: AEM has delivered back-to-back quarters of triple-digit earnings per share (EPS) growth, record annual gold production, and free cashflow – Becoming the world’s most valuable gold and silver mining company | Cameco generated adjusted net earnings of $308 million in Q2 2025 and adjusted EBITDA of $673 million
- Balance sheet: AEM has strengthened its balance sheet by reducing debt, moving toward a net cash position | Cameco held $716 million in cash as of June 30, 2025, with only $1.0 billion in total debt and access to a $1.0 billion credit facility
- Dividend history: AEM has paid a cash dividend every year since 1983 | Cameco has paid cash dividends since its 1991 IPO, maintaining a sustainable payout
- Long-Term potential: AEM pursuing aggressive exploration in the Arctic and well-positioned due to favourable gold markets | Cameco’s growing long-term contracting portfolio (28 million uranium lbs/year through 2029), it is strategically positioned to benefit from the nuclear energy transition
High Income from a portfolio of Canada’s Best in one ETF
The Harvest Canadian High Income Shares ETF (TSX: HHIC) offers access to a multi-sector portfolio that captures this collection of established and trending Canadian companies. HHIC is designed to generate higher levels of monthly income, alongside growth opportunities. It holds a portfolio of TSX-listed equities, overlaying covered calls and employing modest leverage to generate a high yield, every month.
Disclaimer
Commissions, management fees and expenses all may be associated with investing in Harvest High Income Shares ETFs managed by Harvest Portfolios Group Inc. (the “Funds” or a “Fund”). Please read the relevant prospectus before investing. The Funds are not guaranteed, their values change frequently, and past performance may not be repeated. This article is meant to provide general information for educational purposes and should not be construed as investment advice. Any security mentioned herein is for illustration purposes and should not be taken as an invitation to purchase or sell such security. The Funds will pay a monthly distribution. If a Fund earns less that the distribution the difference will be a return of capital.
