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Preferred shares act like equities during bear markets. Preferred shares are a challenging asset class - many are callable as rates go higher. He prefers to keep it simple with laddered preferred shares such as with BMO

A year ago all the rate reset preferrds got set lower down. He is not a big fan of this although he has a bit.


Half is exposed to US preferreds. In the US, preferreds trade more like bonds because most don’t have reset provisions. Interest rates are rising in the US and falling in Canada so that is not good for this ETF. He likes this one because you get the mix. Protection from rising rates in Canada and falling rates in the US. It is currency hedged.


How will this react in a rising interest rate environment? Preferred shares act like bonds, so in a rising interest rate environment, the value of the preferreds will go down. This one is hedged to the Cdn$ which is why your performance is probably down because you have a big bang in the US$ and you haven’t taken advantage of that. However, iShares has changed the way they manage this, to the point where they got a little bit more flexibility in the types of preferreds they hold. They are able to hold and buy reset preferreds. If you own resets in a higher interest rate environment, in theory it shouldn’t be as volatile.


Preferred shares can be a replacement for a bond. However they are at the bottom of the debt structure. You want them in your taxable account rather than sheltered account. The ETFs had got too big and liquidity is a problem for them. You could be better buying the preferreds on your own.


A lot of interesting things have happened in the preferred share market in Canada and the US. Composition has been changing, and there has been more inventory to choose from. He prefers Horizons Active Preferred (HPR-T). He is just there to collect a reasonable dividend and not looking for any major growth. This one is fine and has the US side as well.


The question on Preferreds really has to do with Perpetuals, in other words, how many Perpetuals are in the particular ETF. This one does have perpetuals and they are going to be battered by any rise in interest rates.


Basket of Canadian preferred stocks. But 50% of it is PFF-N

A new EFT, started last November. North American in scope. Good strong dividends, diversified market. Perpetuals are a different interest rate risk. He is not sure how they deal with the tax treatment of US preferds. A reset is a good way to protect against future interest rate hikes but you can’t control that with the ETF.
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iShares S&P/TSX N.A. Preferred(XPF-T) Rating

Ranking : 1 out of 5

Bullish - Buy Signals / Votes : 0

Neutral - Hold Signals / Votes : 0

Bearish - Sell Signals / Votes : 0

Total Signals / Votes : 0

Stockchase rating for iShares S&P/TSX N.A. Preferred is calculated according to the stock experts' signals. A high score means experts mostly recommend to buy the stock while a low score means experts mostly recommend to sell the stock.

iShares S&P/TSX N.A. Preferred(XPF-T) Frequently Asked Questions

What is iShares S&P/TSX N.A. Preferred stock symbol?

iShares S&P/TSX N.A. Preferred is a Canadian stock, trading under the symbol XPF-T on the Toronto Stock Exchange (XPF-CT). It is usually referred to as TSX:XPF or XPF-T

Is iShares S&P/TSX N.A. Preferred a buy or a sell?

In the last year, there was no coverage of iShares S&P/TSX N.A. Preferred published on Stockchase.

Is iShares S&P/TSX N.A. Preferred a good investment or a top pick?

iShares S&P/TSX N.A. Preferred was never recommended as a Top Pick on Stockchase. Read the latest stock experts ratings for iShares S&P/TSX N.A. Preferred.

Why is iShares S&P/TSX N.A. Preferred stock dropping?

Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.

Is iShares S&P/TSX N.A. Preferred worth watching?

0 stock analysts on Stockchase covered iShares S&P/TSX N.A. Preferred In the last year. It is a trending stock that is worth watching.

What is iShares S&P/TSX N.A. Preferred stock price?

On 2024-02-21, iShares S&P/TSX N.A. Preferred (XPF-T) stock closed at a price of $14.64.