Ownership of ETFs climbed to 24% as Canadians pressed Ottawa for better tax treatment
Canadians who own exchange-traded funds backed federal policies encouraging investment in Canadian-listed securities at a markedly higher rate than the general population, 62 percent against 45 percent.
In a national survey by the Canadian ETF Association (CETFA), ETF ownership reached 24 percent of Canadians, up from 20 percent in February 2026.
Ownership was highest among those aged 35 to 54, at 27 percent.
Asked what would make them more likely to say, “I should probably invest more in Canada,” 15 percent of Canadians chose better tax treatment, the most frequently selected answer.
Among ETF investors the figure was 21 percent.
On a separate question about the most useful “starter kit” Ottawa could offer, 17 percent of Canadians identified better tax treatment and 16 percent a government matching contribution for investing in Canada.
Among ETF investors those figures were 22 percent and 19 percent.
“Canadians are sending a message to Ottawa,” said Eli Yufest, executive director of CETFA in Toronto, in the association’s release.
The release said Yufest wants three changes, naming Allocation to Redeemers (ATR), HST on management fees, and withholding tax disadvantages, which he said place Canadian-listed products behind their US counterparts.
CETFA said the findings reinforce two federal policy recommendations: reforming ATR to improve the tax treatment of Canadian-listed ETFs, and introducing a Maple Investment TFSA providing targeted government matching contributions for investment in Canadian-listed securities.
In the release, Yufest said a targeted government matching contribution could help middle-class Canadians “invest for their futures” while keeping more investment dollars in the country.
Paired with tax reform, Yufest called it “a practical made-in-Canada solution.”
Asked how they would feel on discovering that some of their investment dollars were supporting another country’s economy instead of Canada’s, 52 percent of Canadians said they would be very or somewhat concerned.
“There is a difference between investing internationally through a Canadian-listed product and directing that investment activity to a foreign-listed product,” Yufest said in the release.
Survey respondents also described their portfolio’s personality. Among all Canadians, 26 percent chose “Cautious Planner” and 17 percent “Growth Seeker.”
Among ETF investors, 31 percent chose “Growth Seeker,” the most common answer in that group. The survey was weighted to Canadian census demographics.
