Global X High Interest Savings ETF (CASH.TO)

(Note the short timeframe.)  The risk on the markets didn't play out. But he's systematic. If indicators (such as the Bear-o-meter) say higher risk than normal, he holds more cash. He sold this ETF, but still holds "cash cash" and has been legging into the market over the last couple of weeks.

He wanted to be 25% in cash. He spent 2% of it last week in buying positions. Will continue this a bit at a time and will be fully invested by the end of October.

Important to note that it's not exactly the same as a high-interest savings account. No CDIC insurance, have to pay trading fees. Very stable price handle until there's a monthly distribution, based on Canadian overnight bank rates. Those distributions have come down as rates have started to decline.

At one point, superior to bonds. But now with yields coming down, money market funds such as ZMMK are very competitive. T-bill ETFs are also competitive.

If he was concerned about a downturn, he'd just look at a daily high interest ETF like HISA or PSA. Those ones give you 5-5.5% right now, and next day liquidity.

Premium yield is not as high as it used to be. Benefits to certain investors depending on needs. Would recommend buying. Is a safe product. 

Regulators have been threatening for several months to clamp down on the returns on these HISA ETFs. Some providers have tossed treasury bills into the mix. Any declines will be limited to only 20-30 basis points. So, he's holding onto his cash ETFs for now. No point in owning several of these, because they're all the same.

Good place to park your money, and fees are low. 

Not much different from a money market fund, except the quality of the underlying securities might be a bit higher in a MM fund.

He recommends "barbelling" it in with longer-term fixed income like ZAG.

Good for investors holding cash. Able to earn interest. Good product for investors waiting for markets to fall. A sensible product for investors looking to balance portfolio with cash. 

It's a way of holding cash. Has recommended this before. This buys a bunch of high-interest savings accounts and accumulates the dividend, then pays it out. It's liquid.