It's the SP 500, similar to other ETFs like VB. He's neutral the US market in the short term. He uses it as a strategy to minimize capital gains in cash accounts.
It has exposure to the U.S.and its MER is in the 0.04 range which is very very low. It has been a good performer for them. It is not very different than an ETF that tracks the S&P 500 - just uses a different index provider.
It is a solid ETF at quite a low cost. Its companies, tech and otherwise are so cemented and still seeing growth. Tech is concentrated on higher tech names. He is holding and adding some.
Perfectly good, nothing wrong with it. He initially bought it to save tax.