Owen Raszkiewicz

Yeah, if you find an ETF, just to make this simple, if you find an ETF, what Kate's saying, if you find an ETF that has apparently a high historical dividend yield, then go and look at the share price of that ETF.

Because if the share price is going down quickly, you might only be trading an income for capital gain losses or capital losses.

So that's something to consider too.

Okay, there's a second part of this question.

Maybe this is a good question.

Maybe did you want to answer the ETF component that I'll answer the stock side of things.

So does an ETF have to pay dividends?

It might be Chris.

Yeah.

So basically the ETF is just a way to get exposure to something and whatever that something is will depend on the income that you get from the ETF.

It's the same for managed funds.

If the managed fund is investing in shares that don't pay income, you wouldn't expect a high income from that managed fund.

Yeah.

But for shares, there is an example.

For example, Apple, which is a company that I currently own at the time of the recording.

And it has, I think, from memory, over $150 billion of cash.

But they don't pay that to you as a shareholder.

They don't split it up and go, here, we're going to give it all back.

They want to keep it for whatever reason.

Maybe they want to keep it to maybe if they ever have to pay for an acquisition or invest to launch a new product or whatever.