Is XEI a good Canadian dividend ETF to invest in?

Yes, the iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) is a terrific exchange-traded fund (ETF) to invest in for the long term.

One of the most appealing components of this Canadian ETF is that it pays a monthly dividend of more than seven cents a share.

The next thing that is great about the XEI ETF is its portfolio of holdings:

• BCE Inc (5.43%)
• Royal Bank of Canada (5.27%)
• Enbridge (5.24%)
• Toronto Dominion Bank (4.77%)
• Canadian Natural Resources (4.73%)

Meanwhile, the management fee is 0.20% and the risk indicator is ranked medium.

The returns have been incredible over the last year, advancing 42.93%. Since its inception, the investment fund has gained 6.6%.

Plus, it is not static as the ETF is rebalanced every quarter.

Overall, this is a low-cost and long-term foundational holding. In an economy where you receive a pittance for your savings, you need to find investments that can allow your money work for you. The XEI ETF, and other similar investments, is the only way to do it these days.