|UNKNOWN||NORTH AMERICAN - LARGE & ETFs||_N/A|
Educational Segment. Hedging the Canadian Dollar. Currency explains about 70% of the difference in returns between markets. In Canada, the US$ is key. Currency differences are caused by imports, exports and interest rate differentials. We are range bound to 70-80 cents for the next few years. You want to hedge when the Canadian dollar is at the low end of the scale (.73 or below).
Larry Berman CFA, CMT, CTA
Chief Investment Officer, Partner, ETF Capital Management Inc. http://www.etfcm.com