VFV holds the S&P 500 in Canadian dollars, unhedged. 0.09% MER — among the cheapest ETFs in Canada. No bonds, no Canada, no emerging markets. Just 500 of the world's most dominant companies. If you want concentrated US stock exposure in a TFSA or RRSP, VFV is the textbook answer.
VFV is a 100% US-stocks index fund. It mirrors the S&P 500 — which by definition includes only US-domiciled companies. If you want Canada exposure, hold VFV ALONGSIDE a Canadian ETF like XIC or VCN. Or just use a one-ticket fund like XEQT/VEQT instead.
100% US exposure. Zero Canada. Zero international. Pure concentrated risk + reward.
60% US + 40% Canada. A common "two-ticket" portfolio with home-country bias.
One-ticket global. 25% Canada baked in + emerging + intl developed. Easier choice.
★ Tech is 31% — more than 3× any other sector. VFV is effectively a Big-Tech bet wrapped in 500 names.
★ The S&P 500 is cap-weighted. As Apple/Microsoft/NVIDIA grew, they ate larger shares. VFV inherits that concentration.
If you want pure US-stock exposure in CAD, VFV is the textbook answer. 0.09% MER, 13 years of history, $15B AUM. The catch: VFV is unhedged — if USD weakens against CAD, your returns fall even if stocks rise. For most long-term investors, that's fine.