rest/v1/activities.json returns empty `Link` for tokenized email urls

Hi community,

I get the feeling that the API endpoint `rest/v1/activities.json` returns empty results in the `Link` field for email clicks, if the email link has been a program token like `{{my.url}}`, and it only returns the actual clicked url, if the url was hardcoded into the email in the veins of `http://example.com`. Can someone confirm this?

This behavior would speak against using tokens for URLs that appear multiple times in an email. At least in case you would like to do further things based on queries activity data. 

Thank you in advance!