The Globe and Mail reports in its Saturday, Jan. 17, edition that the iShares S&P/TSX Canadian Dividend Aristocrats Index ETF's gains have trailed other dividend ETFs. The Globe's John Heinzl writes that he is not rushing to buy this ETF. He finds this ETF's methodology inconsistent. BlackRock's website says the ETF seeks to replicate the S&P/TSX Canadian Dividend Aristocrats Index, which "screens for large, established Canadian companies that increased ordinary cash dividends every year for at least five consecutive years." However, if that is the case, Mr. Heinzl wonders why South Bow is included in the ETF. It is one of its largest holdings. South Bow was spun off from TC Energy on Oct. 1, 2024, and the company has not raised its dividend in its short existence as an independent company. Similarly, Bank of Nova Scotia's inclusion in this ETF is puzzling. From the third quarter of 2023 through the second quarter of 2025 Scotiabank paid the same quarterly dividend of $1.06 a share. As well, Scotiabank had the worst total return of the Big Five banks over the past five years. Another drawback is this ETF's high management expense ratio of 0.66 per cent, which is roughly double the MER of other dividend ETFs.