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  5. VEF: Hi Peter and team, European ETFs such as the ones listed above have a relatively high concentration of pharmaceuticals. [Vanguard FTSE Developed All Cap Ex U.S. Index ETF (CAD-hedged)]

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Q: Hi Peter and team,
European ETFs such as the ones listed above have a relatively high concentration of pharmaceuticals. With Trump's plans to curb such imports to the US, do you believe that this will be a headwind for these ETFs?
Your insight is greatly appreciated.
Asked by Jerry on May 13, 2025
5i Research Answer:
It will likely be a slight negative. Roche, for example, a holding, has $29B in sales in North...

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