iShares S&P/TSX Preferred ETF

CPD-T

Analysis and Opinions about CPD-T

Signal
Opinion
Expert
DON'T BUY
DON'T BUY
March 26, 2015

Not a huge fan of index, passive investing. This especially does not make sense in the preferred share market. You need active management to do it properly.

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Not a huge fan of index, passive investing. This especially does not make sense in the preferred share market. You need active management to do it properly.

HOLD
HOLD
February 24, 2014

The preferred share market is not liquid. You should buy a small basket of preferreds with the assistance of an advisor. You can’t use an ETF in an illiquid market.

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The preferred share market is not liquid. You should buy a small basket of preferreds with the assistance of an advisor. You can’t use an ETF in an illiquid market.

DON'T BUY
DON'T BUY
January 6, 2014

This is not a Preferred Share Market. We are in the early stages of rising interest rates. Most preferred shares, with the exception of a lot of the bank preferred shares, are perpetual preferred shares and will do poorly in a rising interest rate market.

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This is not a Preferred Share Market. We are in the early stages of rising interest rates. Most preferred shares, with the exception of a lot of the bank preferred shares, are perpetual preferred shares and will do poorly in a rising interest rate market.

DON'T BUY
DON'T BUY
August 30, 2013

He would want to know how many are perpetuals because those are the ones that are really going to get clobbered if interest rates go up. Doesn’t care for this because you don’t get the advantage of preferreds as everything from the US comes through as income.

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He would want to know how many are perpetuals because those are the ones that are really going to get clobbered if interest rates go up. Doesn’t care for this because you don’t get the advantage of preferreds as everything from the US comes through as income.

PAST TOP PICK
PAST TOP PICK
August 23, 2013

(A Top Pick July 8/13. Down 3.85%.) For people trying to collect dividends, preferred shares do sell off in the summer, especially in August but he thinks the selloff has been overdone. For fixed income portfolios, where you are not going to trade, but are going to hold them for perhaps 5 years, this is a good entry point.

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(A Top Pick July 8/13. Down 3.85%.) For people trying to collect dividends, preferred shares do sell off in the summer, especially in August but he thinks the selloff has been overdone. For fixed income portfolios, where you are not going to trade, but are going to hold them for perhaps 5 years, this is a good entry point.

TOP PICK
TOP PICK
July 8, 2013

Preferred shares sold off with a lot of other interest sensitive stuff and he thinks they were a little bit over punished. Seems to be bouncing off its support level of around $16. Not looking for any large up movement but this would be for anyone looking at preferreds for their fixed income portfolio. Yield of around 4.5%.

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Preferred shares sold off with a lot of other interest sensitive stuff and he thinks they were a little bit over punished. Seems to be bouncing off its support level of around $16. Not looking for any large up movement but this would be for anyone looking at preferreds for their fixed income portfolio. Yield of around 4.5%.

COMMENT
COMMENT
July 4, 2013

Good product. Preferred shares from the old Claymore side of what is now Blackrock. Competes with its sister product iShares DJ Cdn Dividend (XDV-T). There are also other good dividend products on the market. The question is, do you like more financials, more utilities, etc. So you have to look under the hood and at the top holdings, especially the top 10.

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Good product. Preferred shares from the old Claymore side of what is now Blackrock. Competes with its sister product iShares DJ Cdn Dividend (XDV-T). There are also other good dividend products on the market. The question is, do you like more financials, more utilities, etc. So you have to look under the hood and at the top holdings, especially the top 10.

DON'T BUY
DON'T BUY
May 27, 2013

It won’t hold the value if interest rates go up. Prefers ZPR, which is laddered and uses resets. Essentially floating rate. Gives more protection to rising interest rates.

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It won’t hold the value if interest rates go up. Prefers ZPR, which is laddered and uses resets. Essentially floating rate. Gives more protection to rising interest rates.

COMMENT
COMMENT
March 21, 2013

Is iShares S&P/TSX Preferred Fund (CPD-T) or iShares 1-5 Yr Laddered Corp Bond Fund (CBO-T) better for safety for a retiree? This is not apples to apples. He likes this one better than CBO-T. Feels there is a fair amount of risk in bonds. However, if there is a situation where there is corporate province not being as good, they could go down more quickly than bonds. Both of them have been pretty much flat over the last year or 2.

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Is iShares S&P/TSX Preferred Fund (CPD-T) or iShares 1-5 Yr Laddered Corp Bond Fund (CBO-T) better for safety for a retiree? This is not apples to apples. He likes this one better than CBO-T. Feels there is a fair amount of risk in bonds. However, if there is a situation where there is corporate province not being as good, they could go down more quickly than bonds. Both of them have been pretty much flat over the last year or 2.

COMMENT
COMMENT
January 16, 2013

He owns this as a sort of core holding for absolute yield, but has taken a big chunk of this and moved it to iShares S&PTSX N.A. Preferred (XPF-T) which he likes because it is 50% US Preferreds and the other half is in Canadian preferreds. The spread between preferred share yields in the US and the 10 year bonds is still extremely high so there is room for that spread to come down.

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He owns this as a sort of core holding for absolute yield, but has taken a big chunk of this and moved it to iShares S&PTSX N.A. Preferred (XPF-T) which he likes because it is 50% US Preferreds and the other half is in Canadian preferreds. The spread between preferred share yields in the US and the 10 year bonds is still extremely high so there is room for that spread to come down.

BUY
BUY
October 4, 2012

Likes this a great deal. Similar to ZDV-T. Good, long-term, safe hold.

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Likes this a great deal. Similar to ZDV-T. Good, long-term, safe hold.

BUY
BUY
October 1, 2012

Preferreds have a bond-like characteristic in that investors invest in for yield, rather than for growth. Does not see any major rate hikes. A fine alternative to fixed income.

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Preferreds have a bond-like characteristic in that investors invest in for yield, rather than for growth. Does not see any major rate hikes. A fine alternative to fixed income.

BUY
BUY
September 4, 2012

This is his 2nd preferred dividend ETF in Canada after BMO Cdn Div (ZDV-T).

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This is his 2nd preferred dividend ETF in Canada after BMO Cdn Div (ZDV-T).

COMMENT
COMMENT
May 22, 2012
Virtually no volatility with about 3% standard deviation. Very solid long-term holding.
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Virtually no volatility with about 3% standard deviation. Very solid long-term holding.
VAGUE
VAGUE
March 9, 2012
Not a huge fan of preferreds, due to interest rate volatility. If the interest rates go up, the preferred share price drops off. But doesn't have a problem with them as a smaller component of a larger portfolio.
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Not a huge fan of preferreds, due to interest rate volatility. If the interest rates go up, the preferred share price drops off. But doesn't have a problem with them as a smaller component of a larger portfolio.
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