Vanguard S&P 500 Index ETF (VFV.TO)

This is pretty simple and straightfoward: it covers the S&P 500. There's no hedging in this. It comes down to how you look at the markets now. Himself, he really likes the S&P 500 as a place to invest in. The wild card are rising trade tensions. He believes there will be a resolution at some point. VFV charges only 8 basis points.

A Canadian ETF that buys the U.S. version, which is a slight advantage when it comes to paying fees. It's a good, cheap way to get exposure to U.S. stocks.

Sell this and Buy the hedged version? He just took off of his Canadian hedges today. The Cdn$ has had a strong run up, and there are built-in expectations by the Bank of Canada that the Cd$ is going to go higher. Thinks Bank of Canada has gotten a little ahead of itself and the inflation and growth forecasts for next year are a little too robust. He wouldn’t be worried about the Cdn$ going up further. If you want to be long the US market, you want to stay with the unhedged version.

S&P 500? There are at least a dozen ways to buy this in Canada. Four of the ETF’s each offer at least 2 of the versions. Also, you can get it currency hedged or unhedged. The vast majority of these ETF’s are very similar to one another. Most of them are very, very cheap. This one is among the lowest cost. A great way to get US Large Cap in an unhedged way.

Believes this is a Canadian hedged S&P exposure. This is going to be more popular right now. He is still a big fan of the US market. These types of hedged ETF’s are going to do well.

(A Top Pick Nov 5/14. Up 16.26%.) The whole reason this has done so well is because it is not hedged. The S&P 500 over this past year has actually lost money. Pretty much 100% of this gain is due to the currency exchange.

This is going to be a more targeted large cap sort of bias. Vanguard is starting to lower the costs on their products. It has a management fee 0.08 basis points. Crazy cheap.

(A Top Pick Jan 16/13. Up 41.39%.) This is not hedged and is his single biggest position for all of his clients.

(A top pick Jan 16/13. Up 20.83%.)

This is not hedged, but once the Cdn$ moves up to $1.01, $1.02 or $1.03, he thinks it is in the topping out stage and thinks the Cdn$ will start to drift down.