iShares Growth Core E.T.F. (XGR.TO)

Income trust ETF. A lot of income trusts have already converted to corporations and the rest must do so by 2011. This will result in your distribution going down that would be taxed as a dividend as opposed to income. You should get a higher yield return on this kind of a product even after 2011 when you compare it to preferred shares. On the flip side, you have a basket of smaller companies. Don't expect a lot of growth.

This is an ETF wrap that contains other ETF's. Great product. Growth portfolio. The only concern he has is that it has a lot of US exposure.