CDRs vs US blue-chip stocks: Which makes more sense for Canadian Investors Mar 23rd

How to go about securing the best return for your investment in Canada.

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CDRs vs US blue-chip stocks: Which makes more sense for Canadian Investors

– moneysense.ca

In mid 2021, Canadian investors gained a significant new way of accessing popular U.S. blue-chip stocks. Canadian depositary receipts (CDRs) resemble the more established American depositary receipts (ADRs).

What are ADRs?

ADRs are a way to gain easy access to global stocks in U.S. dollars trading on U.S. stock exchanges. According to Seeking Alpha, among the 10 most actively traded ADRs are China’s Baidu (Bidu/Nasdaq), the UK’s BP (BP/NYSE), Brazil’s Vale (Vale/NYSE), and Switzerland’s Novartis (NVS/NYSE.) The first ADR was introduced by J.P. Morgan in 1927 for the British retailer Selfridges.

Dividends paid by ADRs are in U.S. dollars. Canadians are of course able to buy ADRs, just as they can buy stocks or exchange-traded funds (ETFs) trading on American stock exchanges. But they’ll have to convert their Canadian dollar to the U.S. dollar to do so. And if they plan to retire in Canada, they will have to pay again to repatriate that money.

What are CDRs?

By contrast, CDRs give Canadian investors a way to buy popular U…

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