Opacity is the real decision. It's how much pigment is in the product — and therefore how much UV protection you get, how much wood grain stays visible, and how long the colour holds up before it needs a refresh.
Canadian retail guidance, including the Home Depot Canada exterior wood stain guide, generally frames exterior stains in four tiers: clear (or toner), semi-transparent, semi-solid, and solid. Each tier trades something for something.
Clear And Toner
Clear sealers and very lightly pigmented toners let almost all of the wood grain show. They look the most "natural" right after application. They also offer the least UV defence and need re-coating the most often — typically every year or two on a sun-exposed horizontal deck. If you love the look of fresh wood and don't mind re-sealing annually, this is the tier for you. If you want to prevent greying, it isn't.
Semi-Transparent
Semi-transparent stains are the most popular tier for Canadian softwood decks. They add enough pigment to meaningfully slow UV fade while still letting grain, knots, and colour variation come through. Expect two to four years between maintenance coats on a typical deck, depending on exposure. This is usually the right starting point for pressure-treated or cedar decks where you want colour without erasing the wood.
Semi-Solid And Solid
Semi-solid and solid stains behave more like thin paints. Grain is muted or covered entirely, and the finish reads as a colour more than as wood. The payoff is the longest lifespan — often four to seven years between coats, depending on sun and water. The risk is that film-forming solid stains can peel or flake over time, especially on horizontal walking surfaces that take a lot of freeze-thaw stress. Older decks where the grain has lost its beauty often move into solid territory permanently, which is a reasonable choice — just know that once you go solid, stripping back to bare wood is a substantial project.