09:01 AM EDT, 04/02/2024 (MT Newswires) -- In a daily roundup of research and analysis from The Globe and Mail's market strategist Scott Barlow, Scotiabank strategist Hugo Ste-Marie is cited as highlighting a "difficult" first quarter for domestic dividend strategies:

"After a challenging 2023, dividend strategies continue to struggle so far this year...while all four dividend ETFs we track [ishares S&P TSX CDN Dividend ETF, ishares S&P TSX Comp High Div Index ETF, ishares Canadian Select Div Index ETF and Ishares Core MSCI CAD Qlty Div ETF] delivered positive total return performance in QI, they all underperformed the TSX Composite by a significant margin.

"Higher bond yields and strong risk appetite didn't help, but some go-to dividend sectors are also experiencing industry-specific headwinds, such as tough competition in Communications (-10% year-to-date). Utilities (-2.3%), Real Estate (+0.8%), and Banks (+2.1%) are among the notable underperformers in QI. All major U.S. dividend ETFs are also trailing the S&P 500 this year."

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