What is dividend leakage?
Dividend leakage means that foreign tax is levied on the dividend (a company’s distribution of profit because you directly or indirectly own shares) that you, as an investor, cannot reclaim in your own tax return. It usually concerns a small amount. There is no standardised reporting from providers of investment products on the exact size of this so-called dividend leakage.
Is there dividend leakage with UpToMore?
Yes, because through our ETFs we invest in shares worldwide. At UpToMore this is estimated at 0.25% to 0.30% of the fund assets (calculation December 2025).
Be careful when comparing
Some providers claim large tax benefits (such as a “dividend benefit”) compared to other providers, without making clear how that benefit is calculated.
You need precise figures over the past years – both on the tax paid by the fund and the tax that investors can reclaim – to determine what the potential advantage for that fund could be. You can then compare that figure with other providers, provided they have a similar investment policy. Your final return is determined by more factors, including investment performance and costs.
Important: Investing involves risks. The value of your investments can go up or down, and you may lose part or all of your initial deposit. Historical averages do not guarantee future results.