The ETF is denominated in US dollars and does not hedge the currency exposure. (canadiancapitalist.com)
This is just an out for those who need to explain their rationale on why they don't hedge currency risk, and thus have performed poorly during the last few years. (canadiancapitalist.com)
I haven't read it fully yet but it seems to support the view that foreign investors should not hedge their currency exposure in US stocks due to negative correlation between US currency fluctuation and stock market returns. (canadiancapitalist.com)