Opinions The Panic-Proof Portfolio (Stockchase Research)
Horizons U.S. Dollar Currency ETFDLR.TOTOP PICKOct 17, 2023
Stock price when the opinion was issued
As of Jun 10, 2026. Market Open.
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Premium contentMaybe after the Canadian election or a new trade deal, 1-3 quarters. Will be lots of volatility and the CAD could weaken. The CAD is grossly undervalued and should be trading at $1.20. Hedge in the next 2-5 years.
Premium contentWe reiterate DLR as a TOP PICK. This ETF holds high interest savings and short-term t-bills in USD converted to CAD. It is a good holding to hedge USD exposures with a low MER. We recommend trailing up the stop (from $13.25) to $14.00 -- looking to achieve $17.50 -- upside potential of 16%. Yield 3.3%
Premium contentWe reiterate this US dollar ETF as a good defensive strategy. If there is a market run to safety, this low fee ETF is a good way to buy some protection. We continue to recommend a stop-loss at $13.25, looking to achieve an initial upside target of $16 -- upside potential of 18%. Yield 1.7%
Premium contentIn periods of market uncertainty, holding US dollars is a good strategy if there is a market run to safety. This low fee ETF is a good way to buy some protection. We would set a stop loss at $13.25, looking to achieve an initial upside target of $16 -- upside potential of 14%. Yield 0.89%
Larry Berman CFA, CMT, CTA
The Canadian dollar has done well during March and April for the last 9 years in a row. So he is going long on the US dollar now.
Brooke ThackrayLikes this because he can strategically hold his cash in US$s. He is always aware what it costs to do these things. The MER is only a half percent.
Terry Shaunessy
