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Global X S&P 500 Index Corporate Class ETF (HXS)
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Global X S&P 500 Index Corporate Class ETF (HXS.U)
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Global X Nasdaq-100 Index Corporate Class ETF (HXQ)
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Global X Nasdaq-100 Index Corporate Class ETF (HXQ.U)
Q: Hello. If I were someone who:
1. Wanted to take my time researching and selecting stocks to purchase (perhaps weeks or months between each purchase), and
2. Doesn't yet know how much I'll be investing in Canadian stocks and how much I'll be investing US stocks, and
3. Will be exclusively investing in registered accounts (TFSA and RRSP).
Is it a sound strategy to simply buy one or two dual-listed, broad-market ETFs (like HXS and HXQ) in order to just be in the market while I take my time selecting stocks? This gives me the flexibility of selling the shares in either currency when it comes time to make another purchase, avoiding hefty currency exchange fees.
Or should the increased expense ratio of these dual-listed ETFs versus the cheaper alternatives like IVV and QQQ be a concern? Are there any other flaws with this strategy and/or is there a better strategy suited to this scenario?
Thank you!
1. Wanted to take my time researching and selecting stocks to purchase (perhaps weeks or months between each purchase), and
2. Doesn't yet know how much I'll be investing in Canadian stocks and how much I'll be investing US stocks, and
3. Will be exclusively investing in registered accounts (TFSA and RRSP).
Is it a sound strategy to simply buy one or two dual-listed, broad-market ETFs (like HXS and HXQ) in order to just be in the market while I take my time selecting stocks? This gives me the flexibility of selling the shares in either currency when it comes time to make another purchase, avoiding hefty currency exchange fees.
Or should the increased expense ratio of these dual-listed ETFs versus the cheaper alternatives like IVV and QQQ be a concern? Are there any other flaws with this strategy and/or is there a better strategy suited to this scenario?
Thank you!