Richard Orrell

He is focused on U.S. foreign policy, both economic and geopolitical, and the trajectory of interest rates. He is looking at being overweight in the U.S. market. Some of the risk premium is coming but it is hard to understand what Trump is going to do and how tariffs will play out. There are a mix of sectors doing well. In Canada he is seeing sectors like financials,energy and materials starting to look very promising so maybe tariffs may not be as bad as expected. There is a positive sign right out if the gate.

The caller's question was on which of these ETF's to buy for a start-up portfolio for his 20-year-old daughter. He prefers more sectors to be covered in this situation so he suggested XEI. There are more multi-asset solutions as well. He also suggested lowering the risk tolerance for a beginner investor.

The caller's question was on which of these ETF's to buy for a start-up portfolio for his 20-year-old daughter. He prefers more sectors to be covered in this situation so he suggested XEI. There are more multi-asset solutions as well. He also suggested lowering the risk tolerance for a beginner investor.

The question was on buying Canadian-hedged ETF's with the Canadian dollar being low. if you have a balance you can't go wrong as long as investing in the U.S. market with Canadian or U.S. dollars.

You want the market moving up and down for covered calls. It is a fairly safe play but you need to keep an eye on it.

The question was on buying a Canadian or U.S. bank ETF. He would migrate to U.S. financials which have much more diversity including Visa and Mastercard. You need to pick the right ETF.

He added it to clients' portfolios a couple of weeks ago and is looking for it to reach yield. He has paired this with another ETF on the other side with high quality and a bit lower quality, mostly B bonds and mostly in the U.S. Small cap and mid cap companies in the U.S. could be taken out by large caps.

Editor's Note: The question was on Harvest Premium but no symbol was given and there are several Harvest Premium ETF's. This is a covered call ETF on long dated U.S. treasury bonds. The yield is 18% so he sees alarm bells. Half of the yield is the return of your own capital.

He sees it as a bridge between return and the volatility of the NASDAQ. It is more large cap than the Russell 2000 and is about 50% information technology.

It is a covered call strategy on U.S. stocks. It is good going forward and holds U.S. large cap companies. You need to understand the downside risk of covered call ETF's.

The caller wanted a suggestion for an ETF for his 9-year-old granddaughter. You can stay heavy on growth and then dial it back as the granddaughter gets older.

The caller wanted his suggestion for a laddered bond ETF. There is Vangard, RBC and TD. His pick would be TCSB from TD bank. It is better over the longer run.

He doesn't use leverage so check for it. It has a covered call approach. Wait for a decision on tariffs.

This is covered calls in the financial sector. Wait to see if a portion of the yield is just giving back capital before changing to this.

The cap is pretty high. He doesn't know if there are more equal weight ETF's in the energy sector