At a glance
BBCA charges 0.19% a year, above the 0.13% average of the 6 funds most like it (the 6th cheapest of 7). It has $10.86B in assets, the 5th largest of that group; it paid 1.67% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +22.4% with distributions reinvested (S&P 500: +11.5%), the best of those 7 funds; over three years it returned +27.0% a year. At its worst it fell 42.8% in the 2020 crash (S&P 500: 33.7%) and 24.4% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 8 months and 19 months after the lows. Its ten largest positions make up 44.4% of the fund, out of 76 in all.
The short version
JPMorgan BetaBuilders Canada ETF (BBCA) is an index fund that tracks the Morningstar Canada Target Market Exposure Index. That index holds about 76 large and mid-size Canadian companies, led by Royal Bank of Canada and Toronto-Dominion Bank. Its 0.19% expense ratio is well below the 0.50% charged by iShares MSCI Canada ETF (EWC), but Franklin FTSE Canada ETF (FLCA) charges 0.09%. With banks and energy firms dominating, it is a concentrated bet on one country.
Price history
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BBCA +22.4% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| BBCA official prospectus, to Dec 31, 2025 | — | +34.40% | — | +14.26% | — | +11.67% |
| BBCA price data to Oct 27, 2026 | +14.4% | +22.4% | +27.0% | +11.8% | — | +12.3% |
- Over the year to Oct 27, 2026, BBCA returned +22.4%, 1st of 7 among similar funds.
- Its 5-year annualized return was +11.8%.
- In the 2020 COVID crash it fell 42.8% and regained its old high 8.1 months after the low.
- Its worst full calendar year was 2022 (-12.5%); its best was 2025 (+34.4%).
- The deepest fall in its price history was 42.8% (Feb 19, 2020 to Mar 23, 2020), recovered by Nov 24, 2020.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +14.4% | — |
| 2025 | +34.4% | +34.40% |
| 2024 | +12.8% | +12.76% |
| 2023 | +14.9% | +14.83% |
| 2022 | -12.5% | -12.32% |
| 2021 | +28.2% | +27.61% |
| 2020 | +6.1% | +6.38% |
| 2019 | +28.9% | +28.36% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 42.8% over that stretch · deepest drop along the way 42.8%, back to its old high 8.1 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 20.5% over that stretch · deepest drop along the way 24.4%, back to its old high 19.2 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.1400 | |
| 2025 | $1.7000 | +1.8% |
| 2024 | $1.6700 | +3.7% |
| 2023 | $1.6100 | +5.2% |
| 2022 | $1.5300 | +4.1% |
| 2021 | $1.4700 | +13.1% |
| 2020 | $1.3000 | +8.3% |
| 2019 | $1.2000 |
What's inside
As of Jul 31, 2026, the fund held 76 securities; the ten largest made up 44.35% of assets. It also reported 4.72% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.
| Holding | Weight | |
|---|---|---|
| Royal Bank of Canada | 9.59% | |
| Toronto-Dominion Bank (The) | 6.58% | |
| Shopify, Inc. | 4.68% | |
| Bank of Montreal | 4.14% | |
| Enbridge, Inc. | 3.88% | |
| Canadian Imperial Bank of Commerce | 3.59% | |
| Bank of Nova Scotia (The) | 3.54% | |
| Canadian Natural Resources Ltd. | 3.19% | |
| Suncor Energy, Inc. | 2.59% | |
| Canadian Pacific Kansas City Ltd. | 2.58% | |
| Brookfield Corp. | 2.55% | |
| Manulife Financial Corp. | 2.45% | |
| Agnico Eagle Mines Ltd. | 2.42% | |
| Canadian National Railway Co. | 2.29% | |
| TC Energy Corp. | 2.28% |
By country
Canada 99.2%By asset type
Stocks 99.2%What changed recently
- Over the three months to Jul 31, 2026, investors withdrew a net $42.5M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +0.72%, -1.29%, +2.89%.
How it works
BBCA follows an index built by Morningstar. The index starts with stocks traded mainly on the Toronto Stock Exchange and aims to cover 85% of their total market value, so it holds mostly large and mid-size companies. Each stock is weighted by free-float market value. That means the value of shares actually available to trade, so bigger companies get bigger weights. As of January 30, 2026, the index held 76 securities, with company sizes ranging from $3.9 billion to $236.1 billion.
The fund tries to own every stock in the index in the same proportions, a method called replication. When that isn't practical, it may hold a representative sample instead. Either way, at least 80% of its assets must be in index stocks. The portfolio is rebalanced each quarter, and turnover was just 2%, according to the prospectus. The fund may put up to 10% of its assets in exchange-traded futures and forward currency contracts. As of July 31, 2026, those contracts made up about 0.01% of assets.
The fund is passive. It won't sell a struggling company unless the index drops it, and it won't move to cash when markets fall. Because a few stocks are large, it can become "non-diversified," meaning one company can take up a big share of the fund. Royal Bank of Canada was 9.6% of assets as of July 31, 2026. Changes in the exchange rate between the Canadian and US dollar also affect returns.
What it really costs
- BBCA charges 0.19% a year, versus an average of 0.13% for the similar funds below (6th of 7, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $19 in the first year and $243 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| BBCA | $19 | $61 | $107 | $243 |
In a retirement portfolio
It adds Canadian banks, pipelines, energy producers and railroads that a US-focused portfolio may hold little of, but as a single-country fund it fits as a slice rather than a foundation.
The trade-off is concentration in one country: the 10 largest holdings were 44% of assets as of July 31, 2026. Canadian dollar swings add more ups and downs. BBCA fell 42.8% between February 19 and March 23, 2020, and got back to its old high by November 24, 2020, about 8 months later. In 2022 it fell 24.4% from its March peak and took about 19 months to recover, until May 2024. That year was also its worst calendar year, a loss of 12.32%. The fund launched in 2018, so it has no record from 2008. Anyone selling shares for spending money during a slump like that would lock in losses. The trailing yield was 1.67% as of October 27, 2026, paid quarterly. Under the SEC's standard example, costs would be $19 in the first year on $10,000. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want index-based exposure to Canada's largest banks, pipelines and energy producers for 0.19% a year, well below EWC's 0.50%.
- Owners of US-heavy portfolios looking for a Canadian slice that trades rarely: turnover was 2%, with rebalancing only once a quarter.
- Long-term holders who can live with swings between the Canadian and US dollar, which affect returns on top of stock prices.
Look elsewhere if
- Cost-focused investors: Franklin FTSE Canada ETF (FLCA) has 95% of the same holdings and charges 0.09% a year.
- Investors who need meaningful income: the trailing yield was 1.67% as of October 27, 2026, paid only quarterly.
- Anyone wanting broad international diversification or unable to handle drops like the 42.8% fall in early 2020; multi-country funds like VEA cost 0.03%.
Close alternatives
Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| BBCA this fund | — | 0.19% | $10.86B | +22.4% | +27.0% |
| FLCA Franklin FTSE Canada ETF | 95% | 0.09% | $766.4M | +22.1% | +27.3% |
| EWC iShares MSCI Canada ETF | 93% | 0.5% | $6.85B | +21.8% | +27.1% |
| SCHF Schwab International Equity ETF | 10% | 0.06% | $69.68B | +17.7% | +20.4% |
| IDEV iShares Core MSCI International Developed M… | 10% | 0.04% | $31.64B | +14.6% | +19.2% |
| VEA Vanguard FTSE Developed Markets ETF | 9% | 0.03% | $316.42B | +16.8% | +21.7% |
| SPDW SPDR Portfolio Developed World ex-US ETF | 9% | 0.03% | $40.29B | +17.3% | +20.5% |
Questions investors ask
Does BBCA pay monthly dividends?
No. BBCA pays dividends quarterly, not monthly. As of October 27, 2026, it had paid $1.76 per share over the previous 12 months, a trailing yield of 1.67%. The money comes from dividends paid by the Canadian companies it owns, mostly banks, pipelines and energy producers. Payments can rise or fall with those companies' payouts and with the exchange rate between the Canadian and US dollar.
BBCA vs EWC vs FLCA: what's the difference?
All three hold mostly the same large Canadian stocks, but each tracks a different index and charges a different fee. BBCA follows a Morningstar index and charges 0.19%. Franklin FTSE Canada ETF (FLCA) has 95% of the same holdings and charges 0.09%. iShares MSCI Canada ETF (EWC) has 93% of the same holdings and charges 0.50%. One-year returns as of October 27, 2026, were close: 22.4% for BBCA, 22.1% for FLCA and 21.8% for EWC.
What are BBCA's top holdings?
Royal Bank of Canada is the largest holding at 9.6%, followed by Toronto-Dominion Bank at 6.6%, Shopify at 4.7%, Bank of Montreal at 4.1% and Enbridge at 3.9%, as of July 31, 2026. The rest of the top 10 are Canadian Imperial Bank of Commerce, Bank of Nova Scotia, Canadian Natural Resources, Suncor Energy and Canadian Pacific Kansas City. Together, the top 10 made up 44% of assets, and five of them are banks.
What is BBCA's 5-year return?
BBCA returned an average of 14.26% a year over the five years ending December 31, 2025, according to its prospectus. Since its 2018 launch, it averaged 11.67% a year. Its full-year return for 2025 was 34.4%. Its worst calendar year was 2022, when it lost 12.32%. Based on price, it was up 14.4% in 2026 through October 27, 2026.
Is BBCA risky?
BBCA carries the full ups and downs of Canadian stocks, plus currency swings. It dropped 42.8% between February and March 2020 and recovered in about 8 months. From March to October 2022 it fell 24.4% and took about 19 months to recover. Its worst quarter was a 26.34% loss in early 2020. Because it holds one country and leans heavily on banks and energy, it can swing more than a fund spread across many countries.