More monthly cash. Less one-year growth than the other ETF.

Before switching ETFs for more spending money, count both the cash paid and the assets left. In an equal-CAD 10,000, one-year model retaining distributions as cash, HHIS paid about CAD 1,558 more than HLIF, yet ended with about CAD 1,130 less in assets, cash and distributions receivable. Your priority between cash to spend now and assets to grow changes the choice.

These Canadian monthly-distribution ETFs hold different assets: HHIS bundles US single-stock ETFs; HLIF holds 30 Canadian equities. Both write covered calls.

Before choosing an income fund

At September-end, HHIS/HLIF distribution rates were 27.98%/6.81%: monthly cash (CAD 0.27/0.07) × 12 ÷ market price (11.58/12.33). This assumes unchanged payments; it is not a past-year return. HHIS, HLIF.

A lower unit price lets the same budget buy more units. It does not establish cheaper valuation or a better investment. Compare the money that grew from the same starting budget over the same period.

One year retaining cash instead of buying more units

Compare the CAD Class A funds from the September 30, 2025 close to the September 30, 2026 close. The illustration divides CAD 10,000 by each starting NAV, permits fractional units, and holds the units and paid cash without further purchases or sales. NAV is the fund's net asset value, rather than an executable order price.

The unit counts are 761.7132 and 947.7415. Beginning→ending NAV was CAD 13.1283→11.6128 for HHIS and 10.5514→12.3169 for HLIF. Eligible distributions totaled CAD 3.23 and 0.8049 per unit; September's payment was still receivable at the cutoff. Totals use unrounded inputs. HHIS NAV records, HLIF NAV records, HHIS payments, HLIF payments.

HHIS paid more cash but had about CAD 2,828 less in remaining ETF assets. The cash and unpaid entitlement did not close that gap. Check both the larger payment and the larger overall gain.

Cash interest, account trading costs, taxes and conversion into KRW are excluded. Fund costs and underlying USD/CAD movements are already reflected in observed NAV. We exclude the prior September entitlement created before the starting purchase; its October payment was not income earned by those newly acquired units.

HHIS led in the year-to-date reinvested table

HHIS did not trail in every period. The year-to-date comparison reverses the ranking.

These are all available matched windows in the issuer tables at the September-end cutoff. They overlap and look back from the same endpoint.

HHIS full performance table, HLIF full performance table.

Official performance includes reinvestment; ETF Facts reports NAV. The retained-cash illustration keeps units fixed. Calculate personal broker DRIP results separately using the actual reinvestment prices and unit conditions. Adding payments to official reinvested performance would count the same money twice. HHIS performance, HHIS NAV basis, HLIF performance.

Include the period favorable to the higher-distribution fund. At the same time, a reinvested performance table does not describe an account withdrawing money for expenses. Assets left and cash consumed are different outcomes.

A larger payment has value when you need cash

For the units in our one-year model, September's payment, paid on October 6, was about CAD 206 for HHIS and 66 for HLIF. Against an assumed CAD 200 spending need, that single payment covers the first case and leaves about CAD 134 short in the second. HLIF units could also be sold to fund spending; compare living on payments alone with managing a sale schedule.

If all paid cash had been spent, HHIS's September-end remaining ETF assets of about CAD 8,846 plus a receivable of about CAD 206 would total about CAD 9,051. The roughly CAD 2,255 consumed bought something in life but no longer remained in the account. Reinvested wealth alone misses that reward for a reader with spending needs. The next declaration will show whether the payment amount continues.

The assets and strategy behind the payment also change

HHIS uses about 25% leverage through underlying ETFs and writes calls on up to 50% of holdings. Leverage magnifies gains and losses. These are not an otherwise identical asset pool with only its payout ratio changed: holdings, markets, leverage and costs differ together.

Call premiums trade some stock upside for cash. HHIS's 0% direct management fee leaves underlying ETF costs. A larger payout also chooses the assets and strategy producing it. HHIS, HLIF.

Payments called “monthly dividends” do not contain identical kinds of gain. In the 2025 Canadian tax classifications, return of capital (ROC) was 63.02% for HHIS and 49.63% for HLIF. Those proportions do not identify the cause of the NAV change in this comparison period, the 2026 distribution mix or after-tax returns in a Korean account. Use the assets-plus-cash comparison to judge the money outcome. HHIS 2025 classification, HLIF 2025 classification.

Check the next payment and same-date total

The issuer's 2026 schedules list October 23 for the next declaration, October 30 for ex-dividend and record dates, and November 6 for payment for both funds. Check whether the per-unit amount holds when declared; after October-end performance appears, compare same-date, same-currency NAV and reinvested returns again. A smaller payout changes a spending shortfall. A constant payout with different remaining assets changes the overall-money decision. HHIS schedule, HLIF schedule.

Continue with costs remaining in a bank-sold fund to compare fees and distributions in that setting. For a windfall not yet invested, immediate versus phased entry compares the first loss and the cost of waiting cash. Write down whether you want monthly spending money or assets to use years later; that goal makes a high distribution rate easier to judge.