The ultimate guide to ETF investing for Canadians. Hosted by Justin Bender of PWL Capital.
Canadian Portfolio Manager Podcast
Claim This Podcastby Justin Bender
4.7(61 reviews)
10 episodes
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Podcast Overview
The ultimate guide to ETF investing for Canadians. Hosted by Justin Bender of PWL Capital.
Language
🇺🇲
Publishing Since
10/16/2019
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Recent Episodes
October 8, 2020
All That Glitters Are Gold ETFs
<p><span style="font-weight: 400;">In</span> <strong>Episode 10</strong> <span style="font-weight: 400;">of the Canadian Portfolio Manager Podcast, Justin analyzes the historical returns of gold from 1972 to 2019 to help Canadian investors decide whether</span> <span style="font-weight: 400;">the shiny yellow metal deserves a place in their portfolio. Using the data, Justin sets out to determine if any of the hype is warranted – has gold historically been a decent safe haven, portfolio diversifier, return enhancer and/or inflation hedge for Canadian investors? At the end of the show, we pit two gold ETFs (IAU and GLD) against one another in our ETF Kombat. And for all you visual learners out there, the gold discussion and ETF Kombat are also available on the CPM YouTube channel</span> <a href= "https://www.youtube.com/watch?v=S5EbXY1T5n8&feature=youtu.be"><span style="font-weight: 400;"> here</span></a> <span style="font-weight: 400;">and</span> <a href= "https://www.youtube.com/watch?v=IJmvPGdnPO8"><span style= "font-weight: 400;">here</span></a><span style= "font-weight: 400;">.</span></p> <p> </p> <ul> <li style="font-weight: 400;"><strong>Ask Bender</strong><span style="font-weight: 400;">: Kevin from Edmonton asks whether he should include a 5% strategic allocation to gold in his portfolio</span> <strong>[0:00:46.10]</strong></li> <li style="font-weight: 400;"><span style="font-weight: 400;">John Bogle discusses why gold is a speculation, not an investment</span> <strong>[0:01:19.10]</strong></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Was gold a safe haven for investors during the financial crisis and the global pandemic?</span> <strong>[0:04:54.10]</strong></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">Correlations between gold and stocks/bonds between 1972 and 2019</span> <strong>[0:07:29.10]</strong></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Why Kevin O’Leary likes gold</span> <strong>[0:08:13.10]</strong></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Has gold historically reduced the risk of a balanced portfolio?</span> <strong>[0:09:02.10]</strong></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Why Ray Dalio believes investors should hold 5-10% of their assets in gold</span> <strong>[0:10:38.10]</strong></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Has gold historically been a return enhancer (i.e. provided higher risk-adjusted returns for investors)?</span> <strong>[0:11:55.10]</strong></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Has gold historically been positively correlated with Canadian inflation?</span> <strong>[0:13:24.10]</strong><span style= "font-weight: 400;"> </span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Asset class performance between 1972 to 1979 (when Canadian inflation averaged 8.7%)</span> <strong>[0:14:22.10]</strong></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Would a balanced portfolio have kept up with inflation between 1972 and 1979?</span> <strong>[0:15:19.10]</strong></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Gold as an inflation hedge between 1980 and 2019</span> <strong>[0:16:18.10]</strong></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">Insights Canadian investors can take away from this analysis</span> <strong>[0:17:19.10]</strong></li> <li style="font-weight: 400;"><span style="font-weight: 400;">If you decide to add a bit of gold to your portfolio, Kevin O’Leary has some practical advice for you</span> <strong>[0:19:13.10]</strong></li> <li style="font-weight: 400;"><strong>ETF Kombat: IAU vs. GLD</strong> <span style="font-weight: 400;">(gold ETFs)</span> <strong>[0:20:52.10]</strong></li> </ul>
August 6, 2020
Hedging Your Bets, With Currency-Hedged ETFs
<p>In <strong>Episode 9</strong> of the Canadian Portfolio Manager Podcast, we discuss whether currency-hedged ETFs make sense for Canadian investors. Steven Leong, of BlackRock Canada, joins us once again to share his insights on the purpose of currency-hedging, as well as the firm’s currency-hedging process. We then break for an ETF Kombat between XSP (the granddaddy of currency-hedged ETFs), and its younger rival, XUH. We’ll then take a deep dive into the historical risk and return data to help you decide whether currency-hedged ETFs deserve a place in your portfolio. At the end of the show, we’ll discuss the Big Mac Index, which is sure to leave you hungry for more information.</p> <p> </p> <ul> <li>Recap of <strong>Episode 8</strong>, <a href= "https://www.canadianportfoliomanagerblog.com/podcast-8-making-cents-of-your-etfs-loonie-currency-exposure/"> Making Cents of Your ETF’s Loonie Currency Exposure</a> <strong>[0:00:26.9]</strong></li> <li>The purpose of currency-hedging and how the currency-hedging process works <strong>[0:03:37.9]</strong></li> <li>Why currency-hedging doesn’t perfectly eliminate all foreign currency exposure <strong>[0:05:14.9]</strong></li> <li>Introducing our recommended currency-hedged iShares and Vanguard foreign equity ETFs (XUH, XFH, VUS, VI) <strong>[0:07:04.9]</strong></li> <li><strong>ETF Kombat:</strong> XSP vs. XUH <strong>[0:09:16.9]</strong></li> <li>The largest foreign currency exposures in your asset allocation ETF <strong>[0:13:08.9]</strong></li> <li>“Safe-haven” currencies to the rescue: the U.S. dollar and the Japanese yen <strong>[0:14:06.9]</strong></li> <li>Has currency-hedging historically reduced or increased a Canadian investor’s risk? <strong>[0:16:41.9]</strong></li> <li>Why your portfolio’s asset allocation has an impact on the currency-hedging decision <strong>[0:18:51.9]</strong></li> <li>Performance of currency-hedged vs. unhedged ETFs during the Global Financial Crisis <strong>[0:20:52.9]</strong></li> <li>Performance of currency-hedged vs. unhedged ETFs during the Global Pandemic <strong>[0:22:10.9]</strong></li> <li>The historical impact of currency-hedging on a Canadian investor’s global stock market returns <strong>[0:23:55.9]</strong></li> <li>“Considerable currency fluctuations” over more than a century <strong>[0:25:20.9]</strong></li> <li>The “hedge-of-least-regret” currency-hedging strategy <strong>[0:26:08.9]</strong></li> <li>Making exchange-rate theory more digestible with the Big Mac Index <strong>[0:28:38.9]</strong></li> </ul>
July 3, 2020
Making Cents of Your ETF’s Loonie Currency Exposure
<p>In <strong>Episode 8</strong> of the Canadian Portfolio Manager Podcast, Justin starts off by answering a listener question regarding the currency exposure of two U.S. equity ETFs in the CPM model portfolios. Steven Leong, of BlackRock Canada, also drops in to provide his currency insights throughout the episode. We then embark upon a most excellent currency adventure with Bill and Ted - two pals who are trying to wrap their heads around the confusing world of currencies. The currency exposure of international, emerging markets, and the iShares “dot U” equity ETFs are also examined. Finally, we end the show with an <strong>ETF Kombat</strong> between XUU.U and ITOT (two U.S. equity ETFs that both transact in U.S. dollars).</p> <p> </p> <ul> <li>Why our brains as humans are not fully wired to handle foreign currency calculations <strong>[0:00:31.8]</strong>.</li> <li><strong>Ask Bender:</strong> Marc from Ottawa kicks things off by asking what the currency exposure is when investing in XUU and ITOT <strong>[0:02:24.8]</strong></li> <li>Understanding the currency exposure of your U.S. equity ETF <strong>[0:04:02.8]</strong></li> <li>The key currency takeaway from episode 8 <strong>[0:05:20.8]</strong></li> <li>A quick tip on how to wrap your head around currency quotes <strong>[0:06:22.8]</strong></li> <li>How to account for currency fluctuations when calculating your stock market returns <strong>[0:08:54.8]</strong></li> <li>Why a positive 10% stock market gain and a negative 10% currency loss do not net out to 0% <strong>[0:11:10.8]</strong></li> <li>Bill & Ted’s Excellent Currency Adventure <strong>[0:12:52.8]</strong></li> <li><strong>Understanding the currency exposure of your international equity ETF</strong> <strong>[0:15:52.8]</strong></li> <li><strong>Understanding the currency exposure of your emerging markets equity ETF</strong> <strong>[0:21:20.8]</strong></li> <li><strong>Introducing the iShares “dot U” equity ETFs</strong> <strong>[0:22:48.8]</strong></li> <li><strong>Understanding the currency exposure of your iShares “dot U” ETFs</strong> <strong>[0:23:29.8]</strong></li> <li><strong>Why you can’t use the iShares “dot U” equity ETFs to perform the Norbert’s gambit strategy</strong> <strong>[0:25:49.8]</strong></li> <li><strong>ETF Kombat:</strong> U vs. ITOT (featuring PWL’s own <a href="https://www.pwlcapital.com/teams/corporate/" target="_blank" rel="noopener">Martin Dallaire</a> as the voice of the judge <strong>[0:29:24.8]</strong></li> </ul> <p>Blog posts/resources discussed in this episode:</p> <p><strong>CPM Episode 8:</strong> Making Cents of Your ETF’s Loonie Currency Exposure (<a href= "https://www.pwlcapital.com/wp-content/uploads/2020/07/CPM-Making-Cents-of-Your-ETFs-Loonie-Currency-Exposure-PODCAST.pdf" target="_blank" rel="noopener"><strong>PODCAST SCRIPT</strong></a>)</p>
10 total episodes available
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