A.I.M. For Exchange Traded Funds

[OldAIMGuy]

Hi AH, Re: Non U.S. ETFs..........................

I feel this is more a currency value performance than anything to do with the core investments' performance from business.

That's part of the beauty of these ETFs. They offer some pretty good currency hedging. In this case, as we sell shares of the non U.S. ETF and shift the value to the weaker U.S. currency, we're both selling "high" and buying "low." I'm certain that there will be another era where that US currency will be put back to work buying back shares of depressed non US ETFs.

Best regards, Tom