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For companies, it's the money they make and share with their shareholders. For investors, it's the money they make from their investments.

Earnings per share

A company's profit divided by the number of shares.

Education assistance payment (EAP)

The amount your child or other beneficiary gets from a Registered Education Savings Plan to help them pay for their education. EAPs only include money that you made investing and government grants. You can take back the money you invested any time.

Emerging market

The financial markets of developing economies. Also called emerging economies. Examples: China, India, much of Southeast Asia, countries in Eastern Europe, and parts of Africa and Latin America.

Employee profit sharing plans (EPSPs)

A type of workplace savings plan. Lets you share in the profits of the company you work for. Your employer is required to make contributions to the EPSP according to a formula based on its profits.

Employee savings plan (ESP)

A type of workplace savings plan. A non-registered account that your employer sets up to help you save. You decide how your money is invested from the investment options your employer makes available. Investment earnings are taxable to you.

Employee stock purchase plan (ESPP)

A company-run program that lets employees buy company shares at a lower price -- as much as 15% lower than the price you would pay on the stock market. The money you put into the plan often comes off your pay.

Employment insurance (EI)

A government plan that helps unemployed Canadians while they look for work or upgrade their skills. EI may also help Canadians who are sick, pregnant or caring for a newborn or adopted child, as well as those who must care for a family member who is seriously ill.


A way to make it safer to send information online by putting data into a secret code.


Another word for investments in the stock market.


Two meanings: 1. The part of investment you have paid for in cash. Example: you may have equity in a home or a business. 2. Investments in the stock market. Example: equity mutual funds.

Equity crowdfunding

Equity crowdfunding allows new business or start-ups to raise capital by selling many small stakes, usually in the form of shares, to a large number of investors over the internet. In return for their money, investors are given a small stake in a business.

Equity index

A way to measure the performance of equity investments that trade on a certain stock market.

Equity mutual fund

A mutual fund that invests in a broad mix of stocks. In most cases, an equity fund won't invest in any bonds.

Equity risk

Equity risk is the risk of loss because of a drop in the market price of shares.


The total sum of money and property you leave behind when you die.

Estate planner

Someone who helps you plan how you will take care of your spouse, children or other family members if something happens to you. It takes a special knowledge of law and taxes.

Estate planning

The plans you make to build and manage wealth for your lifetime and thereafter. Goals may include leaving the most money possible to your loved ones, with the least amount of taxes. Other goals may include caring for children, paying off debt or passing on a business.

Estate tax

In the United States, a tax that your estate must pay after your death, before any property (such as real estate, cash and investments) can go to your heirs. In Canada, there is no estate tax. Instead, the government charges probate fees.

Estate trustee

In Ontario, another term for executor. Someone whom you appoint to carry out the terms of your will.

Exchange rate

How much one country's currency is worth in terms of another. In other words, the rate at which one currency can be exchanged for another.

Exchange-traded fund (ETF)

An investment fund that holds a collection of investments such as stocks and bonds, that trades on a stock exchange. It can be passively managed or actively managed.


Someone you name to carry out the wishes that you set out in your will after your death. May be named by the court if you don't name one. In Ontario, an executor is called an estate trustee.

Existing security holder prospectus exemption

In Ontario, the existing security holder prospectus exemption allows public companies listed on certain exchanges to sell securities to their existing investors.

Expected return

Estimated value of your investment in the future. Tells you the overall profit you might expect - either as income (interest or dividends), or as capital gains (or losses). Often expressed as a percentage.


A payment or the promise of future payment.

Expiry date (options)

The date after which an option can no longer be used or exercised.

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