Global X U.S. Dollar Currency ETF (DLR.TO) is an exchange-traded fund that seeks to reflect the performance of the U.S. dollar against the Canadian dollar, net of expenses, by investing primarily in U.S. dollar-denominated cash and cash equivalents. The ETF offers units traded in both Canadian dollars under the ticker DLR and U.S. dollars under DLR.U on the Toronto Stock Exchange, providing investors with direct currency exposure categorized as long USD and short CAD. Launched on April 5, 2011, and managed by Global X Investments Canada Inc., headquartered in Toronto, Ontario, the fund operates within the currency asset class targeting Canadian investors seeking to hedge or speculate on USD/CAD exchange rate movements.
The ETF's core offerings include high-quality, short-term U.S. dollar cash equivalents such as money market instruments to replicate the USD benchmark price return relative to CAD, with a management fee of 0.45% and quarterly distributions yielding approximately 2.34% to 4.30% annualized. It maintains a low-to-medium risk rating and focuses on capital preservation through passive index-based management without active currency forecasting. Assets under management stand at approximately CAD 252 million, serving retail and institutional investors in Canada.
Global X Investments Canada Inc., the ETF's manager, rebranded from Horizons ETFs on May 1, 2024, aligning with its parent company Mirae Asset Financial Group's global ETF platform managing over $800 billion in assets across 58 offices worldwide. Recent developments include the launch of 16 new ETFs in 2025, such as the Global X Russell 2000 Index ETF (RSSX) and Covered Call ETF (RSCC) in partnership with Cboe Canada in November 2024, alongside share consolidations for certain BetaPro ETFs effective November 27, 2025, and the termination of five underperforming ETFs in June 2025. These strategic moves underscore ongoing product innovation and portfolio optimization within Canada's fourth-largest ETF provider, with over $35 billion in total AUM.