Research : ZPR, TXPL and Dollar-Weighted Returns

On November 19, 2012, S&P announced a new index, the S&P/TSX Preferred Share Laddered index (TXPL) and the next day BMO announced the establishment of the BMO S&P/TSX Laddered Preferred Share Index ETF (ZPR), based on TXPL.

In this essay I examine the properties of the new fund, opining that there was a very good chance that ZPR will become an important part of the Canadian preferred share in a relatively short period of time.

At this remove, though, it is the digressions that are of greater interest:

  • Digression: Money Market Funds and Spread-WAM
  • Digression: The Importance of Time-Weighted vs. Dollar Weighted Returns
  • Nested Digression: Cost of Mandatory Reporting of Dollar-Weighted Returns

Regulators have done a lot of stupid things, but the creme de la creme is the mandatory reporting of Dollar-Weighted Returns.

Look for the research link!

This entry was posted on Saturday, July 16th, 2022 at 5:56 pm and is filed under Publications. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “Research : ZPR, TXPL and Dollar-Weighted Returns”

  1. ZPR: Serious Problems with Reset Date Bucketting « PrefBlog says:
    September 15, 2023 at 8:11 pm

    […] was sufficient to have the issues added back during the following revision. The index provider changed its rules the following month to stop this costly […]

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