Have you taken the time to look at the yields of the individual holdings? The top ten issues make up almost 65% of the portfolio. One four of those are trusts. COS yields less than 4% and Baytex is less than 6%. Enerplus pays about 8.5% and Penn West a little more than 10%. Of the non-trusts in the top ten, the yields of Suncor, CNQ and Imperial are microscopic and seem to be mostly symbolic rather than economically meaningful. Three of the top ten holdings don't pay any dividend at all. So, when you ask the question, "how can the yield be so low?", the answer is - because it's the weighted average of the fund's holdings.