Hi there,
I guess it depends on your investment goal. If your goal is income only, than the ETF seems fine as a monthly high yield product. It holds a couple of other ETFs which account for about 31% of holdings the rest of the top 10 are comprised mainly of Canadian financial stocks. In fact, 96% of the portfolio is in financials.
If you are looking for capital appreciation - i'd look elsewhere. The ETF has been relatively flat from 2017 to 2020 and again between 2015-16. It goes through many periods of stagnation and we may be entering another one. Why? Low interest rates makes for a difficult environment for financials and we likely won't see any meaningful interest rate increase for a couple of years. From what I've seen, it has never cut the distribution which is a good sign. However, you are also paying a high MER fee of 0.94% and it is a high-risk product.
Mat