{"id":2226,"date":"2008-06-03T12:27:48","date_gmt":"2008-06-03T16:27:48","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=2226"},"modified":"2008-06-03T12:27:48","modified_gmt":"2008-06-03T16:27:48","slug":"index-performance-may-2008","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=2226","title":{"rendered":"Index Performance: May 2008"},"content":{"rendered":"

Performance of the HIMIPref\u2122 Indices for May, 2008, was:<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Total Return<\/td>\n<\/tr>\n
Index<\/td>\nPerformance
\nMay 2008<\/td>\n		Three Months
\nto
\nMay 30, 2008<\/td>\n<\/tr>\n
Ratchet<\/td>\n+1.79%<\/td>\n+3.09%<\/td>\n<\/tr>\n
FixFloat<\/td>\n-2.37%<\/td>\n+0.02%<\/td>\n<\/tr>\n
Floater<\/td>\n+10.75%<\/td>\n+8.59%<\/td>\n<\/tr>\n
OpRet<\/td>\n+0.54%<\/td>\n+0.76%<\/td>\n<\/tr>\n
SplitShare<\/td>\n+1.52%<\/td>\n+0.71%<\/td>\n<\/tr>\n
Interest<\/td>\n+1.18%<\/td>\n+2.04%<\/td>\n<\/tr>\n
PerpetualPremium<\/td>\n+0.46%<\/td>\n-0.76%<\/td>\n<\/tr>\n
PerpetualDiscount<\/td>\n+1.37%<\/td>\n-3.51%<\/td>\n<\/tr>\n
Funds (see below for calculations)<\/td>\n<\/tr>\n
CPD<\/td>\n+1.42%<\/td>\n-1.52%<\/td>\n<\/tr>\n
DPS.UN<\/td>\n+0.98%<\/td>\n-0.92%<\/td>\n<\/tr>\n
Index<\/td>\n<\/tr>\n
BMO-CM 50<\/td>\n+1.32%<\/td>\n-1.44%<\/td>\n<\/tr>\n<\/table>\n<\/div>\n

Claymore has published NAV data<\/a> for its exchange traded fund (CPD) and I have derived the following table:<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n
CPD Return, 1- & 3-month, to May, 2008<\/td>\n<\/tr>\n
Date<\/td>\nNAV<\/td>\nDistribution<\/td>\nReturn for Sub-Period<\/td>\nMonthly Return<\/td>\n<\/tr>\n
February 29<\/td>\n18.34<\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
March 26<\/td>\n17.64<\/td>\n0.2082<\/td>\n-2.68%<\/td>\n-2.90%<\/td>\n<\/tr>\n
March 31, 2008<\/td>\n17.60<\/td>\n <\/td>\n-0.23% <\/td>\n<\/tr>\n
April 30<\/td>\n17.60<\/td>\n <\/td>\n <\/td>\n0.00%<\/td>\n<\/tr>\n
May 30<\/td>\n17.85<\/td>\n0.00<\/td>\n <\/td>\n+1.42%<\/td>\n<\/tr>\n
Quarterly Return<\/strong><\/td>\n-1.52%<\/strong><\/td>\n<\/tr>\n<\/table>\n<\/div>\n

The DPS.UN NAV for May 28 has been published<\/a> so we may calculate the May returns (approximately!) for this closed end fund:<\/p>\n

\n\n\n\n\n\n\n\n\n
DPS.UN NAV Return, May-ish 2008<\/td>\n<\/tr>\n
Date<\/td>\nNAV<\/td>\nDistribution<\/td>\nReturn for period<\/td>\n<\/tr>\n
April 30, 2008<\/td>\n$20.71<\/td>\n <\/td>\n <\/td>\n<\/tr>\n
May 28<\/td>\n$20.89<\/td>\n <\/td>\n+0.87%<\/td>\n<\/tr>\n
May 30<\/td>\nN\/A<\/td>\n <\/td>\n+0.11%<\/td>\n<\/tr>\n
Estimated May Return<\/strong><\/td>\n+0.98%<\/strong><\/td>\n<\/tr>\n
CPD had a NAV of $17.83 on May 28 and $17.85 on May 30. The estimated May end-of-month stub period return for CPD was therefore +0.11%, which is applied to DPS.UN as described above.<\/em><\/td>\n<\/tr>\n<\/table>\n<\/div>\n

Now, to see the DPS.UN quarterly NAV approximate return, we refer to the calculations for March<\/a> and April<\/a>:<\/p>\n

\n\n\n\n\n\n\n
DPS.UN NAV Returns, three-month-ish to end-April-ish, 2008<\/td>\n<\/tr>\n
March-ish<\/td>\n-2.26%<\/td>\n<\/tr>\n
April-ish<\/td>\n+0.39%<\/td>\n<\/tr>\n
May-ish<\/td>\n+0.98%<\/td>\n<\/tr>\n
Three-months-ish<\/strong><\/td>\n-0.92%<\/strong><\/td>\n<\/tr>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Performance of the HIMIPref\u2122 Indices for May, 2008, was: Total Return Index Performance May 2008 Three Months to May 30, 2008 Ratchet +1.79% +3.09% FixFloat -2.37% +0.02% Floater +10.75% +8.59% OpRet +0.54% +0.76% SplitShare +1.52% …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-2226","post","type-post","status-publish","format-standard","hentry","category-index-construction-and-reporting"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/2226","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2226"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/2226\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}