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  5. CALL.B: I have an enigma for you…. [Evolve US Banks Enhanced Yield Fund]

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Q: I have an enigma for you….
CALL.TO closed at C$4.13 today while CALL.U.TO closed at US$16.01.
If these are identical shares, both listed in Toronto, then the price difference should be the exchange rate - correct?
However, the equivalent USD shares are far more expensive than the CAD shares. This is the puzzle.
Could you explain this?
Which is the better buy, or would you not recommend either one?
Asked by Catherine Ann on January 16, 2025
5i Research Answer:
CALL is hedged to CAD, while CALL.U is technically unhedged and simply denominated in USD. As a...
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