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IntermediateStock Alerts + Tools0:46Markets

A Receipt, Not the Share

An ADR is a claim on foreign shares held by a bank, which adds a currency effect, a custody fee and a tax layer between you and the company.

0:46 · 6 scenes

This lesson is part of a Stock Alerts + Tools plan.

What the lesson covers

  1. 0:00Buying an ADR does not buy the foreign share. It buys a receipt for one.
  2. 0:05The structure. A bank holds the real shares abroad and issues receipts that trade here.
  3. 0:15The currency effect. The receipt tracks the home share and the exchange rate. Both move your price.
  4. 0:24The sponsorship difference. A sponsored ADR is set up by the company. An unsponsored one is not.
  5. 0:33The two fees nobody expects. A custody fee is deducted periodically, and foreign tax is withheld from dividends.
  6. 0:41Read it as a wrapper with its own costs, not as the share itself.
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Educational content only. MadStockAlerts provides market commentary, research, and educational content. It is not personalized investment advice, and nothing here is a recommendation to buy or sell any security. Trading and investing involve substantial risk, including loss of capital. See the Risk Disclosure and Customer Agreement.
Educational content only. MadStockAlerts provides market commentary, research, and educational content. It is not personalized investment advice, and nothing here is a recommendation to buy or sell any security. Trading and investing involve substantial risk, including loss of capital. See the Risk Disclosure and Customer Agreement.
A Receipt, Not the Share — MAD Academy Training Video · MadStockAlerts