Shark Tank star Kevin O’Leary says he is staying bullish on Canada after allocating 10% of his portfolio to the country’s leading-stock ETF.
O’Leary, himself Canadian, took to X and said that he had taken “the contrarian view” by purchasing a 10% weighting in Canada through iShares S&P/TSX 60 Index, an exchange-traded fund (ETF), listed as XIU in Toronto, tracking 60 major Canadian companies.
“You wish you had made that trade,” O’Leary wrote on X, claiming the investment had outperformed the S&P 500 by 158 basis points.
Year-to-date, XIU has surged 16.09% while the S&P 500 has climbed 11.30%.
O’Leary said, “I’m so happy I’m long Canada and I’m staying long,” regardless of how long President Donald Trump and Canadian Prime Minister Mark Carney continued arguing over trade issues.
However, he added, “This is gonna get resolved.”
Earlier this month, O’Leary made predictions for 2027, which included a potential U.S.-Canada trade agreement and other major geopolitical and policy developments. The Shark Tank star said that the two North American economies would ultimately “merge” to counter the common adversary, China.
Canada-US Trade Deal in Focus
Earlier this month, Canadian Prime Minister Mark Carney said he had a “good conversation” with Trump about resolving their ongoing trade dispute. Carney said the discussion built on “constructive discussions” toward a mutually beneficial deal that protects Canadian jobs, affordability, culture and sovereignty. He added that negotiating teams would work over the coming weeks to reach an agreement.
Meanwhile, Trump said the U.S. is “very close” to reaching a trade deal with Canada. He said the proposed agreement could involve Ottawa paying for the Keystone pipeline. Trump said the deal would benefit American farmers and the U.S. while also being acceptable to Canada. He claimed the U.S. had been “losing money for many years with Canada” and said both sides had agreed on “the concept of a deal.”
Trade uncertainty remains a significant issue, though. Democrats are expected to make repealing tariffs on Canadian imports a priority after taking control of Congress, with Sen. Ron Wyden (D-Ore.) citing strong support for repeal.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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