Bringing you live news and features since 2006 

North America map

BlackRock Canada launches North American Preferred Stock Index Fund


BlackRock Asset Management Canada has launched the iShares S&P/TSX North American Preferred Stock Index Fund on the Toronto Stock Exchange.

The fund will provide investors with geographically diversified exposure to preferred shares by investing a portion of its assets in US preferred shares and a portion in Canadian preferred shares.

Preferred stock is an asset class that combines some characteristics of both equity and debt securities and generally makes regular payments to investors.

The fund will hedge its currency exposure to the US dollar, and carry a management fee of 0.45 per cent per year.

“Preferred stock generally has higher yields than common stock, the bond market and the money market, but is less risky than equity, making XPF a useful asset for boosting income in a risk-controlled fashion,” says Oliver McMahon, director of product management for iShares ETFs at BlackRock Canada.

The S&P/TSX North American Preferred Stock Canadian Dollar Hedged Index, which is the underlying index for the fund, currently includes 226 US securities and 119 Canadian securities for a total of 345 securities.

Combining the two markets allows investors to take advantage of the breadth of the US preferred share market, which also currently yields significantly more than the Canadian market, while maintaining the benefits of Canadian preferred stock exposure.

Latest News

The August data from LSEG Lipper shows that the global ETF industry held USD10,547.4 billion in assets under management on..
HANetf has announced that their European Green Deal UCITS ETF (ticker: EUGD) has reached USD52 million (EUR49.9 million) in assets..
Legal & General Investment Management (LGIM) has announced the launch of the L&G Global Brands UCITS ETF. The firm writes..
Vienna Stock Exchange has launched three new thematic indices: CECE Reshoring, CECE Commodity Producers and CECE Clean Energy, writing that..

Related Articles

John Ciampaglia, Sprott Asset Management
Geo-political tensions and concerns about hitting clean energy targets have brought the focus back onto nuclear power in recent months,...
Nick King, Robeco
Europeam investment management giant Robeco has announced the appointment of Nick King as Head of Exchange Traded Funds (ETFs), in...
Kristof Gleich, Harbor Capital
Harbor Capital burst onto the ETF issuance world in 2021 and now has USD1.1 billion in assets in ETFs. But...
Europe’s thematic ETF provider, Rize ETF, has been acquired by ARK Invest LLC, the parent of ARK Investment Management LLC,...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by