{"id":2353,"date":"2008-07-07T14:05:36","date_gmt":"2008-07-07T18:05:36","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=2353"},"modified":"2008-07-07T14:05:36","modified_gmt":"2008-07-07T18:05:36","slug":"index-performance-june-2008","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=2353","title":{"rendered":"Index Performance: June 2008"},"content":{"rendered":"

Performance of the HIMIPref\u2122 Indices for June, 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
\nJune 2008<\/td>\n		Three Months
\nto
\nJune 30, 2008<\/td>\n<\/tr>\n
Ratchet<\/td>\n+0.38%<\/td>\n+2.68%<\/td>\n<\/tr>\n
FixFloat<\/td>\n-0.41%<\/td>\n-1.02%<\/td>\n<\/tr>\n
Floater<\/td>\n-3.09%<\/td>\n+6.39%<\/td>\n<\/tr>\n
OpRet<\/td>\n-0.32%<\/td>\n+0.53%<\/td>\n<\/tr>\n
SplitShare<\/td>\n-2.02%<\/td>\n+1.31%<\/td>\n<\/tr>\n
Interest<\/td>\n+0.91%<\/td>\n+2.72%<\/td>\n<\/tr>\n
PerpetualPremium<\/td>\n-1.38%<\/td>\n-0.57%<\/td>\n<\/tr>\n
PerpetualDiscount<\/td>\n-5.31%<\/td>\n-3.90%<\/td>\n<\/tr>\n
Funds (see below for calculations)<\/td>\n<\/tr>\n
CPD<\/td>\n-4.26%<\/td>\n-2.90%<\/td>\n<\/tr>\n
DPS.UN<\/td>\n-3.53%<\/td>\n-2.20%<\/td>\n<\/tr>\n
Index<\/td>\n<\/tr>\n
BMO-CM 50<\/td>\n-3.43%<\/td>\n-2.09%<\/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 June, 2008<\/td>\n<\/tr>\n
Date<\/td>\nNAV<\/td>\nDistribution<\/td>\nReturn for Sub-Period<\/td>\nMonthly Return<\/td>\n<\/tr>\n
March 31, 2008<\/td>\n17.60<\/td>\n <\/td>\n <\/td>\n <\/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
June 25<\/td>\n17.01<\/td>\n0.2097<\/td>\n-3.53%<\/td>\n-4.26%<\/td>\n<\/tr>\n
June 30, 2008<\/td>\n16.88<\/td>\n <\/td>\n-0.76% <\/td>\n<\/tr>\n
Quarterly Return<\/strong><\/td>\n-2.90%<\/strong><\/td>\n<\/tr>\n<\/table>\n<\/div>\n

The DPS.UN NAV for June 25 has been published<\/a> so we may calculate the June returns (approximately!) for this closed end fund:<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n
DPS.UN NAV Return, June-ish 2008<\/td>\n<\/tr>\n
Date<\/td>\nNAV<\/td>\nDistribution<\/td>\nReturn for period<\/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
June 25<\/td>\n$20.33<\/td>\n <\/td>\n-2.79%<\/td>\n<\/tr>\n
June 30<\/td>\nN\/A<\/td>\n <\/td>\n-0.76%<\/td>\n<\/tr>\n
Estimated June Return<\/strong><\/td>\n-3.53%<\/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
CPD had a NAV of $17.01 on June 25 and $16.88 on June 30. The estimated June end-of-month stub period return for CPD was therefore -0.76%, 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 April<\/a> and May<\/a>:<\/p>\n

\n\n\n\n\n\n\n
DPS.UN NAV Returns, three-month-ish to end-June-ish, 2008<\/td>\n<\/tr>\n
April-ish<\/td>\n+0.39%<\/td>\n<\/tr>\n
May-ish<\/td>\n+0.98%<\/td>\n<\/tr>\n
June-ish<\/td>\n-3.53%<\/td>\n<\/tr>\n
Three-months-ish<\/strong><\/td>\n-2.20%<\/strong><\/td>\n<\/tr>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Performance of the HIMIPref\u2122 Indices for June, 2008, was: Total Return Index Performance June 2008 Three Months to June 30, 2008 Ratchet +0.38% +2.68% FixFloat -0.41% -1.02% Floater -3.09% +6.39% OpRet -0.32% +0.53% SplitShare -2.02% …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,11],"tags":[],"class_list":["post-2353","post","type-post","status-publish","format-standard","hentry","category-index-construction-and-reporting","category-indices-and-etfs"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/2353","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=2353"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/2353\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}