Interesting observation In February when DIV announced Public offering stock dropped down to about $ 2.70 so AD.UN was down as well. I decided to sell almost all DIV and buy AD.UN . I remember some people here complaining about the way AD is taxed by this is not my shiit since I own it in two TFSA's accounts. Since than I am tracking it as the are the first two holdings in one of my accounts by alphabet. They were trading even for months by lately AD.UN advanced. The spread since then as of now is about 11% for AD.UN. Recently bought some DIV back but generally no impressed.