Just sold a property. I’d usually dump it all into XEQT/VEQT but since CAGE here I want to explore that before hitting the buy button.
My main question is, is it worth It with the greater tax drag in a non registered account due to the higher rate of rebalancing? Or should I just stick to CAGE within my TFSA/RRSP?
Link: https://www.investorsedge.cibc.com/en/accounts-and-investments/etf.html
Happy to see VFV, VEQT, XIU and HUG. A good mix of Vanguard, iShares, Avantis and Global X. There’s no QQQ or XEQT but there are other Nasdaq-100 and equity ETFs with decent MERs
EDIT: CAGE is also free. I just called to confirm.
CIBC has updated the CAGE information page on their website with new data in the "Portfolio" section, including holdings characteristics, sector breakdown, market cap breakdown and geographic allocation. Worth bookmarking if you want to keep an eye on how the fund evolves over time.
The number that will interest some people here: the estimated dividend yield is currently 2.29%. For context, the 12-month trailing yield for XEQT is 1.53% and VEQT is 1.41%. The higher yield for CAGE is consistent with its value tilt (cheap and profitable companies tend to pay more in dividends than expensive growth stocks) so this is expected.
A reminder that yield is not a reason on its own to choose one fund over another, and that distributions are taxed differently depending on your account type. But for those holding CAGE in a taxable account or simply curious about what the factor tilt looks like in practice, this is a useful data point.
EDIT: The yield has been updated from 2.29% (as at 03/31/2026) to 2.18% (as at 04/30/2026).
I guess context matters. CAGE was released in the middle of quite a bit of geopolitical turmoil (which doesn't look like it's about to stop), and without 5+ years of data I don't think it's easy to get an idea of performance, but I can't help entertaining myself.
About equal with a slightly less volatility?
One of the most common questions in factor investing communities is whether the strategy actually delivers in practice, not just in academic backtests. Since Avantis launched their first ETFs in 2019, we now have roughly six years of live data to look at. It is a short horizon by factor investing standards and should be taken with a grain of salt, but it is worth examining.
I compared three Avantis U.S.-listed funds against their closest market-cap weighted equivalents from iShares, using iShares specifically because both Avantis and BlackRock use MSCI indexes for developed and emerging markets classification, while Vanguard uses FTSE, which draws the lines differently and would make a less clean comparison.
The results since inception in 2019:
| Avantis | Index | CAGR Avantis | CAGR Index | Outperformance | Portfolio Visualizer | |
|---|---|---|---|---|---|---|
| U.S. equities | AVUS | ITOT | 16.01% | 15.49% | +0.52% / yr | Comparison |
| International developed | AVDE | IEFA | 12.15% | 10.29% | +1.86% / yr | Comparison |
| Emerging markets | AVEM | IEMG | 12.51% | 10.54% | +1.97% / yr | Comparison |
Across all three comparisons, the Avantis funds have outperformed their market-cap weighted counterparts since launch. The gap is smallest in the U.S., where the market has been dominated by expensive but profitable mega-cap technology stocks that a value tilt naturally underweights. The outperformance is larger in international developed and emerging markets, where the value and profitability premium appears to have been more readily captured.
A few important caveats. Six years is a short period by the standards of factor investing, and this window happened to include 2022 and parts of 2025 and 2026, which were strong years for value. A different starting or ending point could tell a different story. The academic case for factor premiums is built on decades of data across many markets, not on any single six-year window. These results are consistent with what the research predicts, but they do not confirm that the premium will continue at this pace.
For Canadian investors, AVUS, AVDE and AVEM are not directly held by CAGE, but the same Avantis team applies the same investment philosophy to CAUS, CADE and CAEM (which are components of CAGE). The U.S. track record is the best available evidence for what the Canadian-listed funds may deliver over time.
As always, past performance is not a guarantee of future results. This is not financial advice.
This has probably been discussed plenty on this sub but I’m a young investor and my current portfolio is made up of %80 xeqt and then %20 high conviction stocks.
Doing some research I’m thinking to change my xeqt allocation into cage. For a long term horizon 20-30 years. Would you recommend CAGE or XEQT for the long-term hold and why?
What I mean to say is, how much of cage is xeqt? What's the net tilt effect here
first purchase. should i just say byebye to my monies?
Hello friends, I'm a long-time XEQT holder and Ben Felix fan. I'm planning to start adding CAGE to my portfolio, and I was wondering if it really matters what percent I hold of each of these two ETFs. Based on my own logic, if holding 100% of either of them is fine, then pretty much any weighting between them is also acceptable. I just wanted to check if there's anything I'm missing before I start adding some CAGE.
I am 26 with the ability to invest approximately $6000 per month. Since I was 21 I have maintained a SCV tilt of 30% using AVUV (US only, I know) but have sold this for CASV mostly for its global diversification. However, why would I not just run 100% CASV? The reason I was doing 30% AVUV before is arbitrary (and that I could not be bothered perform norbert's gambit all that often), my job pays well, I do not need investments to cover expenses. Why not just get the SCV premium going forward in all of the portfolio?
Tracking error is not a concern for me, and I mean this when I say it: I truly do not care in the slightest what the "broad market" is doing, even outperforming for years, if my expected return is good. I don't even check the balance of my accounts more than once every 4 or 5 months, I just shove more money in. I don't have any grasp of what is happening in the market as a whole at any time, nor do I really care. If my AVUV had underperformed for the last 6 years I would not care, mainly because I literally do not even know if it has.
Why would I not just capture the premiums afforded by a SCV tilt forever? It seems to me like a pretty zero-effort but effective solution, allowing me to focus more on income and other aspects of live. CAGE is fine and all, but is less SCV tilted
I've been looking at both the US all-in-one and Canadian all-in-one funds from Avantis. I plan to invest a couple hundred every other week for the next couple decades and I'm unsure which to pick.
Could anyone explain the tax implications? I plan to max my TFSA first and don't really have a lump sum to throw in right away.
I'm concerned that CAGE might significantly underperform AVGE due to the high concentration in Canadian equity. I tend to believe the US economy and US business will do better as it's much more diversified than the Canadian economy is. That said, if I go with avge then I'm subject to exchange rates and different tax rules.
Has anyone else had to decide between these two funds? Anyone taken a deep dive into each just to see exactly how different they are? Just looking to hear some thoughts and opinions. Thank you.
CAGE hit $200m in Net Assets on May 1, 2026 (idk why the website says April). +$100m in just 10 days.
Just curious if anyone here holds AVGE in their RRSP instead of CAGE specifically to avoid the 15% foreign withholding tax?
I’ve read that for larger portfolios (e.g., $500k+), the "tax drag" from unrecoverable FWT on Canadian-domiciled funds becomes significant enough to justify the move to US-listed ETFs.
Does anyone here actively manage the currency conversion (Norbert’s Gambit) to keep AVGE in their RRSP, or is the simplicity of CAGE still worth the cost to you?
Thanks.
I didn't realize - but the account I own my CAGE had stock lending turned on. I would t have expected someone to borrow my shares for a short sale but good luck to them lol.
Turned off stock lending for the record
