A new study done by the University of Michigan found that Canada is the ninth happiest country on Earth, and they are getting happier – could it be because their exchange traded fund (ETFs) is one of the best single-country performers year-to-date?

Well…probably not, but it is interesting to note that Denmark came out in first as the happiest country, with the United States placing a grumpy 16th, and our Northern neighbors coming in at 9th, reports the CTV.ca staff.

The happier countries showed that happy societies are those that allow people the freedom to choose how to live their lives.

Likely adding to the happiness factor in Canada is that the Canadian dollar gained the most in six weeks, after a private U.S. report showed that the United States lost more jobs last month than anticipated.

Haris Anwar and Jamie McGee for Bloomberg reports that the Canadian dollar rose vs. 13 of the 16 most active currencies on speculation that the Federal Reserve may postpone raising interest rates later this year.

Will the good times continue? Watch these to find out:

• iShares MSCI Canada Index (EWC), up 1.2% year-to-date
• CurrencyShares Canadian Dollar Trust (FXC), down 1.8% year-to-date

Read the disclaimer, as Tom Lydon is a board member of Rydex Funds.

Tags: Canada, Currency ETFs, EWC, Federal Reserve