As a US resident and citizen, I have Canadian dollars in a Fidelity Brokerage account (transferred as an inheritance).
Fidelity allows me to buy shares in Canadian dollar denominated ETFs. For example, any of these:
ZNQ:CA BMO NASDAQ 100 EQUITY INDX ETF CAD UNITS
XUS:CA ISHARES CORE S&P 500 INDEX E
XIG:CA ISHARES US IG CO BD IDX ETF CAD HDG UNIT
Investing in these might be a good way to grow this money until the USD:CDN exchange rate improves.
Are these US domiciled funds (if that is the correct determining factor)?
Would these investments count as PFICs?
Many thanks.
Fidelity brokerage allows investments in CDN-denominated ETFs. Are these PFICs?
Moderator: Mark T Serbinski CA CPA
Re: Fidelity brokerage allows investments in CDN-denominated ETFs. Are these PFICs?
I was asking myself the same question a while back and someone responded that ETFs are passive income in another thread.
Re: Fidelity brokerage allows investments in CDN-denominated ETFs. Are these PFICs?
the response is the same as the past.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best