December 10, 2019

How about them ETFs, eh?:

Canadian-listed exchange-traded funds (ETFs) recently crossed the $200-billion asset mark and record inflows are expected in 2019, amid an increase in purchases of conservative fixed-income funds from retail investors seeking more safety.

The year’s inflows to the end of November amounted to $23.5-billion, on pace with the record $26-billion flow for all of 2017, according to data from the National Bank Financial Inc. (NBF) ETF research and strategy group.

ETFs crossed the $200-billion mark on the last day of November and the month’s inflow of $4.5-billion was the highest of the year and one of the highest ever, says Daniel Straus, vice-president of ETFs and financial products research at NBF.

HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices

Values are provisional and are finalized monthly
Index Mean
Current
Yield
(at bid)
Median
YTW
Median
Average
Trading
Value
Median
Mod Dur
(YTW)
Issues Day’s Perf. Index Value
Ratchet 0.00 % 0.00 % 0 0.00 0 0.0000 % 1,973.2
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.0000 % 3,620.8
Floater 6.12 % 6.29 % 59,742 13.36 4 0.0000 % 2,086.7
OpRet 0.00 % 0.00 % 0 0.00 0 0.0617 % 3,440.8
SplitShare 4.63 % 4.30 % 44,706 3.85 7 0.0617 % 4,109.0
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0617 % 3,206.0
Perpetual-Premium 5.54 % -17.13 % 56,011 0.09 10 0.0626 % 3,045.5
Perpetual-Discount 5.29 % 5.44 % 71,802 14.69 25 0.0603 % 3,264.2
FixedReset Disc 5.64 % 5.83 % 201,994 14.09 66 0.0596 % 2,088.5
Deemed-Retractible 5.19 % 5.29 % 75,852 14.91 27 -0.0674 % 3,211.9
FloatingReset 6.24 % 6.40 % 136,294 13.37 2 2.3417 % 2,468.8
FixedReset Prem 5.11 % 3.54 % 147,146 1.54 20 0.0351 % 2,633.2
FixedReset Bank Non 1.95 % 3.93 % 63,724 2.07 3 0.0000 % 2,710.9
FixedReset Ins Non 5.54 % 5.91 % 120,652 14.06 22 0.1520 % 2,114.2
Performance Highlights
Issue Index Change Notes
MFC.PR.B Deemed-Retractible -1.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-12-10
Maturity Price : 21.64
Evaluated at bid price : 21.89
Bid-YTW : 5.32 %
BAM.PF.B FixedReset Disc -1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-12-10
Maturity Price : 17.85
Evaluated at bid price : 17.85
Bid-YTW : 6.13 %
NA.PR.G FixedReset Disc -1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-12-10
Maturity Price : 19.05
Evaluated at bid price : 19.05
Bid-YTW : 5.99 %
SLF.PR.G FixedReset Ins Non -1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-12-10
Maturity Price : 12.62
Evaluated at bid price : 12.62
Bid-YTW : 5.95 %
BMO.PR.W FixedReset Disc 1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-12-10
Maturity Price : 16.91
Evaluated at bid price : 16.91
Bid-YTW : 5.70 %
BIP.PR.F FixedReset Disc 1.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-12-10
Maturity Price : 21.89
Evaluated at bid price : 22.30
Bid-YTW : 5.71 %
BAM.PR.M Perpetual-Discount 1.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-12-10
Maturity Price : 21.65
Evaluated at bid price : 21.90
Bid-YTW : 5.52 %
MFC.PR.L FixedReset Ins Non 1.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-12-10
Maturity Price : 16.16
Evaluated at bid price : 16.16
Bid-YTW : 5.86 %
MFC.PR.M FixedReset Ins Non 1.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-12-10
Maturity Price : 17.21
Evaluated at bid price : 17.21
Bid-YTW : 5.78 %
SLF.PR.J FloatingReset 4.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-12-10
Maturity Price : 12.65
Evaluated at bid price : 12.65
Bid-YTW : 6.07 %
Volume Highlights
Issue Index Shares
Traded
Notes
TD.PF.K FixedReset Disc 131,433 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-12-10
Maturity Price : 19.10
Evaluated at bid price : 19.10
Bid-YTW : 5.74 %
RY.PR.Z FixedReset Disc 122,049 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-12-10
Maturity Price : 16.86
Evaluated at bid price : 16.86
Bid-YTW : 5.66 %
BNS.PR.I FixedReset Disc 73,077 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-12-10
Maturity Price : 18.75
Evaluated at bid price : 18.75
Bid-YTW : 5.73 %
CM.PR.O FixedReset Disc 72,916 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-12-10
Maturity Price : 16.26
Evaluated at bid price : 16.26
Bid-YTW : 6.02 %
TRP.PR.E FixedReset Disc 71,425 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-12-10
Maturity Price : 15.70
Evaluated at bid price : 15.70
Bid-YTW : 6.30 %
BMO.PR.Y FixedReset Disc 66,770 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-12-10
Maturity Price : 18.65
Evaluated at bid price : 18.65
Bid-YTW : 5.81 %
There were 63 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
NA.PR.W FixedReset Disc Quote: 15.96 – 16.37
Spot Rate : 0.4100
Average : 0.2414

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-12-10
Maturity Price : 15.96
Evaluated at bid price : 15.96
Bid-YTW : 6.11 %

TD.PF.E FixedReset Disc Quote: 19.24 – 19.75
Spot Rate : 0.5100
Average : 0.3711

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-12-10
Maturity Price : 19.24
Evaluated at bid price : 19.24
Bid-YTW : 5.84 %

IFC.PR.C FixedReset Ins Non Quote: 17.27 – 17.70
Spot Rate : 0.4300
Average : 0.2958

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-12-10
Maturity Price : 17.27
Evaluated at bid price : 17.27
Bid-YTW : 6.13 %

ELF.PR.H Perpetual-Premium Quote: 25.16 – 25.49
Spot Rate : 0.3300
Average : 0.2088

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-12-10
Maturity Price : 24.86
Evaluated at bid price : 25.16
Bid-YTW : 5.54 %

BAM.PR.T FixedReset Disc Quote: 15.40 – 15.74
Spot Rate : 0.3400
Average : 0.2214

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-12-10
Maturity Price : 15.40
Evaluated at bid price : 15.40
Bid-YTW : 6.37 %

TD.PF.C FixedReset Disc Quote: 16.75 – 17.06
Spot Rate : 0.3100
Average : 0.1917

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-12-10
Maturity Price : 16.75
Evaluated at bid price : 16.75
Bid-YTW : 5.83 %

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