ETF Database » PSK

iShares Launches International Preferred Stock ETF (IPFF)

Michael Johnston — Thu, 17 Nov 2011 14:37:05 +0000

iShares, the issuer behind the most popular product in the Preferred Stock ETFdb Category, debuted an international counterpart to PFF this week. The recently-launched S&P International Preferred Stock ETF (IPFF) will be linked to an index consisting of preferred stock from ex-U.S. developed market issuers, with a hefty allocation to Canadian banks. IPFF becomes the sixth U.S.-listed ETF to tap into this asset class, and just the second to offer access to preferred securities offered in developed markets outside the U.S. Preferred Stock 101 Preferred stock is classified as equity, but these securities exhibit characteristics of both stocks and bonds. Preferred stock generally carries no voting rights and offers a fixed dividend payout that is subordinate to debt payments but senior to dividends on common stock. Some preferred stock is convertible to common equity at a predetermined ratio, a feature that allows investors to maintain some potential for upside appreciation [...]

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Global X Debuts First Canada Preferred Stock ETF (CNPF)

Michael Johnston — Wed, 25 May 2011 14:00:44 +0000

Wednesday marks the first day of trading for another Global X ETF, as the company introduced a fund offering exposure to a basket of preferred stocks from Canadian issuers that trade on the Toronto Stock Exchange. The Global X Canada Preferred ETF (CNPF) seeks to replicate the Solactive Canada Preferred Index, a benchmark that includes nearly 60 different preferred stock issues from companies operating in various sectors of the Canadian economy. Financials are the biggest allocation within the portfolio, making up nearly 75% of assets. Energy firms (10%), telecom companies (6%) and consumer discretionary companies (5%) make up the remainder of the exposure. Preferred Stock Appeal Preferred stock is a unique asset class, exhibiting characteristics of both equities and fixed income. Preferred stock has been a popular source of financing for banks for decades, and has been popular with investors because of the ability to generate stable cash flows while [...]

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iShares Planning International Preferred Stock ETF

Michael Johnston — Sun, 06 Feb 2011 15:00:13 +0000

iShares hasn’t launched any new ETFs since rolling out its short-term TIPS fund (STIP) in early December, but the issuer responsible for close to 45% of all U.S. ETF assets continues to expand its product pipeline. The San Francisco-based ETF giant recently detailed plans for a international preferred stock ETF in an SEC filing; the proposed S&P International Preferred Stock Index Fund would seek to replicate the S&P International Preferred Stock Index. That index consists of preferred stocks from non-U.S. developed market issuers and traded in non-U.S. developed markets, with a heavy tilt towards securities of Canadian banks. As of January 24, 2011, Canadian issues accounted for about 73% of the underlying index, while financial companies made up more than 80% of the index. Also represented in the S&P International Preferred Stock Index are Japan, New Zealand, and the United Kingdom. iShares currently offers the S&P U.S. Preferred Stock Index [...]

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Preferred Stock ETFs Continue Winning Streak

Michael Johnston — Wed, 24 Mar 2010 14:41:27 +0000

Recent growth in the ETF industry has been due in large part to surges in popularity of asset classes to which many investors would otherwise have fairly limited access. Exchange-traded commodity products have seen billions of dollars in cash inflows, as have fixed income and currency funds. While the number of ETFs offering exposure to preferred stock can still be counted on one hand, this corner of the ETF industry has witnessed tremendous growth as well, as investors have embraced ETFs as a way to gain exposure to this “hybrid” asset class. At the end of February, the four preferred stock ETFs available to U.S. investors had aggregate assets of about $6.2 billion, up from just $1.7 billion a year ago (when there were only three funds available). While stellar returns have given asset levels a boost, so too have waves of cash inflows into these funds. With interest rates [...]

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Definitive Guide To Preferred Stock ETF Investing

Michael Johnston — Tue, 22 Dec 2009 12:00:38 +0000

As the ETF industry has expanded in recent years, so too has the number of asset classes accessible through exchange-traded products. With more than $2 billion in cash inflows in 2009, preferred stock ETFs have become a big hit with some investors, offering “hybrid” exposure that has delivered strong returns provided valuable diversification benefits to traditional portfolios split between stocks and bonds. These days, it’s good to be a hybrid. In an increasingly eco-friendly environment, you can’t drive a block in most cities without coming across a hybrid car. Hybrid clubs are the latest golf fad, with every amateur hacker out there scooping up one of these ‘wonder clubs’ to take a few strokes off their game. And in the ETF industry, preferred stock ETFs, which are a type of hybrid between traditional equities and bonds, are soaring. Preferred stocks are by no means a new financial innovation, and have [...]

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September 2009 ETF Roundup: Launches, Filings, and Closures

Andy H — Wed, 30 Sep 2009 07:00:40 +0000

September was one of the most active months in the ETF industry in recent memory. We saw a wave of new fund launches from industry leaders and smaller players alike, along with perhaps the first of many commodity fund closures. September saw the introduction of another actively-managed ETF, proposals on several more innovative funds, and expanding product lines from many of the industry’s newest entrants. New Fund Launches A total of 12 new ETFs were launched in September, ranging from plain vanilla iShares ETFs to a physically-backed Swiss Gold ETF from ETF Securities to an actively-managed fund run by best-selling author and well-known investor Harry Dent. ETFs added to our ETF Screener this month include: ETFS Physical Swiss Gold Shares (SGOL): This ETF has already proven itself to be a viable competitor to GLD, accumulating $100 million in assets in its first month of trading. Three new funds from Pimco, [...]

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Preferred Stock ETFs Still Popular

Michael Johnston — Fri, 18 Sep 2009 14:25:48 +0000

On Thursday, State Street launched the SPDR Wells Fargo Preferred Stock ETF (PSK), an ETF that invests in non-convertible preferred stocks. The new SPDR will compete with two existing products from iShares and PowerShares, both of which have been incredibly popular among investors through the first three quarters of 2009. Preferred stocks are an attractive investment option for several reasons. They feature the regular distributions of fixed income investments, but allow investors to participate in upward price movements in a company’s share price, making them a hybrid of stocks and bonds. Preferred stockholders generally have priority over common shareholders in bankruptcy proceedings, although they must line up behind a company’s debtholders. While the three preferred stock ETFs now on the market offer exposure to a similar group of securities, they are not identical by any stretch. With approximately 160 underlying holdings, PSK invests in significantly more securities than either PGX [...]

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ETF Database » PSK

iShares Launches International Preferred Stock ETF (IPFF)

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