An important part of investing is knowing how your investments are performing. Learn more about the steps you can take to review your accounts.
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Why is it important to check your investing accounts?
It’s good to keep track of how your investments are doing. Tracking your investment performance will tell you whether your rate of return is trending in the right direction for your goals. You can also compare your returns with those of similar investments in a benchmark index, to see how your investments are performing relative to the market. Some examples of market indices are:
- S&P/TSX Composite index – This index is the benchmark index for the Canadian equities market. The S&P/TX Composite tracks stocks from the largest companies on the Toronto Stock Exchange.
- S&P 500 – This index tracks stocks from 500 of the largest companies traded on stock exchanges in the United States.
It’s also a good idea to check how much you’re paying in fees and transaction costs. These fees should also be reported on your account statements. Any fees you pay will lower the return you make on your investments. If you think you may be paying too much in fees, find out if there are lower-cost alternatives that may be appropriate for you. Monitoring your investments over time will help you decide if you need to make changes to your portfolio.
How do you track your investing progress?
There are a few places you can check to track your investing progress, including:
- Read your account statements. Your investing account will issue statements of activity, either monthly or quarterly. You can choose whether you want to receive paper records by mail or view them online. When your latest account statement is available, read it. Check for information such as what was bought and sold, any fees and commissions, and how much your investments gained or lost. Check the account statements for all of your investments every month so you know if you are on track to meet your goals. Learn more from Canadian Investment Regulatory Organization (CIRO) about how to read your account statements.
- Check your disclosure documents. As an investor you have access to disclosure documents about your investments. These are different from account statements. Disclosure documents tell you factual information about the companies you’ve invested in. They can help you assess the companies’ management, risks, and overall financial state. You can access notices that affect your investments, such as notice of a stock split. Documents like Fund Facts can tell you about your fund investments, such as its risk rating and performance history. You can talk to your advisor if you need help reviewing these documents. Learn more about where to find out information about your investments.
- Check your confirmation slips. When you buy or sell an investment, you’ll receive a confirmation slip. When you review these, check that the investments bought and sold are correct, and that fees and commissions charged are correct. Keep the slips for tax purposes if they show deductible expenses.
If you work with an advisor, check in regularly to see if your investments are on track.
What types of investment fees should you look for?
It’s common to pay fees each time you buy or sell your investments. Holding an investment may also involve paying fees, for example management fees when you buy shares in a fund. You may also have to pay accounts fees and fees for advice. Some common fees include:
- Sales charges if you buy or sell a mutual fund.
- Management fees and operating expenses (known as the management expense ratio or MER) if you own a mutual fund or ETF.
- Trading commissions when you buy and sell a stock or an ETF.
- Fees for selling an investment early or transferring an investment.
- Account fees, such as trustee fees for registered plans and fees to close an account.
- Fees for the advice you receive.
In addition to fees, you may also have to pay taxes on what your investments earn. This will depend on the type of investment and whether you hold your investments in a tax-sheltered account. Learn more about how income tax works.
Your account statements will tell you about many of your costs and fees. If you’re unsure, ask your advisor or investment firm about all of the costs involved in your investments.
Total cost reporting enhancements will make it easier to see the fees you pay for investing — including transaction costs and embedded fees. These will take effect on January 1, 2026. You would see your 2026 costs in a statement you would receive mid-January 2027.
Summary
Checking your investing accounts can include:
- Reviewing your account statements and confirmation slips.
- Reading disclosure documents.
- Tracking your investing progress to decide whether your rate of return is aligned with your investing goals and deciding whether you need to make any changes.
- Knowing what you’re paying in investing fees. Fees can include transaction fees, management fees, sales charges, trading commissions, and fees for specialized advice.
- Checking with your advisor or investing firm to if you’re unsure how to access information.
