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Stockchase Opinions

Larry Berman CFA, CMT, CTAVanguard S&P 500-CAD HedgedVSP.TOCOMMENTMar 19, 2018

VSP-T vs XSP-T vs ZSP-T. These all have exposure to the US Large Cap market, yet have different returns thus far this year. You have to be careful on these – some are currency hedged and others are not.

$47.83

Stock price when the opinion was issued

$117.98

As of Jun 19, 2026. Market Open.

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PAST TOP PICK
(A Top Pick Feb 22/22, Down 10%) It's not XSP, so don't confuse them. He often buys US currency assets, but strikes a balance with some CAD assets. Sometimes he hedges and sometimes invests in straight USD.
BUY
Allan Tong’s Discover Picks The VSP pays 1.27% and also charges 0.09. A key question is whether the CAD will rise or continue to struggle (along with many other currencies) against the American greenback, which has been on a tear. Historically, the USD outperforms the CAD, though the USD has been so strong this summer that its winning streak could end or pause. In the past year, the VFV has declined 9.17% while the VSP has fallen 13.49%. Year-to-date, CFC still outperforms its sibling. Over five years, the VFV has advanced 12.61% and the VSP 10.19%. There’s a chance the CAD could rise and the USD take a step back. However, longer-term, VFV ETF gets the edge. Read 5 ETFs for Index Investing for our full analysis.
COMMENT
Has out performed market given overall selloff. Will continue to hold.
PAST TOP PICK
(A Top Pick Feb 22/22, Down 4%) Market beating returns given overall market selloff. Unique combination of bond and preferred share structure. Will continue to look into buying more shares.
TOP PICK
He tends to be underweight the Canadian market, overweight the US. Chose this one as well because it's similar to the XSP, which he already owns and has run up. Very good representation of the index. Low fees.
BUY
Costs only 8 basis points. This follows the S&P 500, easy. A good index product at a super-low price.
WAIT

VSP-T vs. ZSP-T. Both are fine holdings. The BMO version contains individual holdings while these two put wrappers around the US versions. There are tax considerations in holding US investments if you hold more than $100,000. He has increased US dollar exposure recently to play the currency short term.

COMMENT

Vanguard S&P 500-CAD Hedged (VSP-T) or Vanguard MSCI US Broad Market (VUS-T)? The difference between these 2 is that one is hedged and the other is not, although VUS holds about 6000 stocks.

BUY

Vanguard S&P 500-CAD Hedged (VSP-T) or BMO Dow Jones Industrial Average Hedge (ZWA-T) and in the next 3-6 months? These are 2 very different things. In this one you are basically getting pure exposure to the upside to the S&P 500. The Dow has actually lagged the S&P 500. So he would want to own this one instead. Low fee and just stick with it and allow the full upside of the market to be delivered to your statement every month.

PAST TOP PICK

(A Top Pick Dec 31/12. Up 27.86%.)

TOP PICK

Thinks that Vanguard has some extremely good products and he’ll be using more of them. Less fees than the equivalent iShares S&P 500 (CAD-Hedged) etf (XSP-T) but basically the same product.