Canadian Despositary Receipts #CDR
CDRs are investments that allow Canadian investors to own fractional shares of foreign companies traded on Canadian exchanges in Canadian dollars. They provide exposure to global companies while minimizing currency conversion costs and risks associated with foreign exchange fluctuations. @Michael Laba wrote a post "Was Curious about Netflix 2 stock symbols might help you decide." which he talks about the two Netflix holdings, one being a CDR. One share of USD NFLX is CDR Ratio 0.27564681 *as of Mar 21-2026* NFLX:us $91.82 USD = $128.40cdn (1.3984 FX rate - WS) @close Mar 20-2026 NFLX:cdr $34.73cdn Math to own one Share of NFLX in CDR 1 / 0.27564681 = 3.6278 x $34.73 = $125.99 - $128.40 = $2.41 savings. Doesn't sound like much but adds up when you buy more, $24.10 for 10 shares. There is away around the CDN to USD exchange, Journaling by using Norbert's Gambit with a fee of $10 plus tax, also takes 1-5 days to happen per broker. The break-even point is around the $800cdn if your broker doesn't charge a fee for trading. If commission fees are charged, looking at $1600cdn. (info I pulled from web) But this is another whole post for Journaling USD. You save on the exchange of your CDN$ to USD$, but not from the withholding tax of 15% if the holding does pay a dividend. To avoid the withholding tax, hold it in your RRSP account. If its a growth stock that does not pay a dividend, no worries of that 15% withholding tax. If like to learn more on CDRs, check out https://money.tmx.com/tsx-cdr-centre and click CDR Education to learn more. It also shows at top of page top preforming CDRs Also other links from BMO and CIBC that list CDRs. -https://www.bmoinvestorline.com/wealth/journeys/content/micro/cdr/CanadianDepositaryReceipts.html -https://cdr.cibc.com/#/cdrDirectory