Performance of the HIMIPref™ Indices for February, 2008, was:
| Total Return | ||
| Index | Performance February 2008 |
Three Months to February 29, 2008 |
| Ratchet | +2.32% | +2.97% |
| FixFloat | +2.27% | -0.22% |
| Floater | +3.25% | -11.54% |
| OpRet | +0.37% | +1.60% |
| SplitShare | +1.70% | +3.12% |
| Interest | +1.61% | +2.31% |
| PerpetualPremium | +1.25% | +2.51% |
| PerpetualDiscount | +3.03% | +6.17% |
| Funds (see below for calculations) | ||
| CPD | +2.17% | +3.33% |
| DPS.UN | +2.04% | +3.00% |
| Index | ||
| BMO-CM 50 | +1.68% | +3.24% |
Claymore has published NAV data for its exchange traded fund (CPD) and I have derived the following table:
| CPD Return, 1- & 3-month, to February 29, 2008 | ||||
| Date | NAV | Distribution | Return for Sub-Period | Monthly Return |
| November 30 | 17.97 | |||
| December 24 | 17.75 | 0.2219 | +0.01% | +1.14% |
| December 31, 2007 | 17.95 | +1.13% | ||
| January 31, 2008 | 17.95 | 0.00% | 0.00% | |
| February 29, 2008 | 18.34 | +2.17% | +2.17% | |
| Quarterly Return | +3.33% | |||
The DPS.UN NAV for February 27 has been published so we may calculate the February returns (approximately!) for this closed end fund:
| DPS.UN NAV Return, February-ish 2008 | |||
| Date | NAV | Distribution | Return for period |
| January 30, 2008 | $21.02 | ||
| February 27, 2008 | $21.47 | $0.00 | +2.14% |
| Adjustment for January stub-period | +0.06% | ||
| Adjustment for February stub-period | -0.16% | ||
| Estimated February Return | +2.04% | ||
| CPD had a NAV of $17.96 on January 30 and $17.95 on January 31. The estimated January end-of-month stub period return for CPD was therefore -0.06%, which is subtracted from the DPS.UN total return when estimating the return for February. | |||
| CPD had a NAV of $18.37 on February 27 and $18.34 on February 29. The estimated February end-of-month stub period return for CPD was therefore -0.16%, which is added to the DPS.UN total return when estimating the return for February. | |||
Now, to see the DPS.UN quarterly NAV approximate return, we refer to the calculations for December and January:
| DPS.UN NAV Returns, three-month-ish to end-February-ish, 2008 | |
| December-ish | +1.93% |
| January-ish | -0.97% |
| February-ish | +2.04% |
| Three-months-ish | +3.00% |
[…] PrefBlog Canadian Preferred Shares – Data and Discussion « New Issue: TD 5.60% Perps Index Performance: February 2008 » […]
[…] The competition was outpaced: the fund outperformed the closed-end fund (DPS.UN), which returned an estimated +2.04% on the month and an estimated +3.00% on the quarter, as well as the exchange-traded fund (CPD) which returned +2.17% and +3.33% on the month and quarter. Calculation details for these two performances have been posted separately. […]
[…] to see the DPS.UN quarterly NAV approximate return, we refer to the calculations for February and […]
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