Investing in the S&P 500 is not as easy as you might imagion. There are two major concerns:
- currenty costs
- taxes on dividends
Personal Finance Canada has an excellent article comparing all the ETF options for Canadians. The options include:
- SPY
- IVV
- VOO
- XSP.to
- XUS.to
- VFV.to
I personally use VOO in an RRSP account. I converted my Canadian dollars to US dollars via the Norbert’s Gambit. Again there is a great Personal Finance Canada article about implementing Norbert’s gambit. Let the linked article I also use Questrade and used DLR.to/DLR.
I transferred about $30,000 CDN to USD. Overall it cost me about $200 between trading costs and Bid/Ask spread. I was not patient and paid the Bid price, which was $0.01 above the ask.