Q: Hi,
Can you offer your words of wisdom about this product. I don't see any questions this when I searched your archives. Came across this product some time ago when a guest on BNN mentioned this.
Is this a safe place to park my USD (iTrade allows me to hold USD) Are thee any other products that are similar and less expensive? It's MER is 0.12 according to Horizon's website.
Is this okay to hold them in both registered and non registered accounts? With the long anticipated pullback on its way, I thought parking cash in USD is a way to go. Plus USD seems to weakening and may be worthwhile to buys some now?
As always many thanks in advance.
Can you offer your words of wisdom about this product. I don't see any questions this when I searched your archives. Came across this product some time ago when a guest on BNN mentioned this.
Is this a safe place to park my USD (iTrade allows me to hold USD) Are thee any other products that are similar and less expensive? It's MER is 0.12 according to Horizon's website.
Is this okay to hold them in both registered and non registered accounts? With the long anticipated pullback on its way, I thought parking cash in USD is a way to go. Plus USD seems to weakening and may be worthwhile to buys some now?
As always many thanks in advance.
5i Research Answer:
We would consider it a very safe, low cost product. While the ETF itself is not guaranteed, the securities it owns are. Indicated yield is 4.95%. MER is actually lower than BIL, a $28B US traded similar ETF. We would be very comfortable using it for parking US dollars.