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  5. CSAV: Hi there, could you please name your favourite high-interest savings account etf for a non-registered account, with a short description of why? [CI High Interest Savings ETF]
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Q: Hi there, could you please name your favourite high-interest savings account etf for a non-registered account, with a short description of why?

What is your favourite for a registered account and why?

Thanks!
Asked by Chris on August 01, 2023
5i Research Answer:

We like HSAV for a non-registered account. The fund makes no distributions and the gain comes in the form of capital gains. Interest distributions are considered income and are 100% taxed as marginal income. On the other hand, only 50% of the total capital gains are taxable. It can at times trade at a premium so buyers need some discipline.

For a registered account, we are indifferent between HSAV, CSAV, CASH, and PSA. Return differences are minimal (4.87% on CSAV and 4.95% on PSA currently). 

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