{"id":43849,"date":"2022-07-16T17:56:14","date_gmt":"2022-07-16T22:56:14","guid":{"rendered":"https:\/\/prefblog.com\/?p=43849"},"modified":"2022-07-16T17:56:14","modified_gmt":"2022-07-16T22:56:14","slug":"research-zpr-txpl-and-dollar-weighted-returns","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=43849","title":{"rendered":"Research : ZPR, TXPL and Dollar-Weighted Returns"},"content":{"rendered":"<p>On November 19, 2012, S&amp;P announced <i>a new index, the S&amp;P\/TSX Preferred Share Laddered index (TXPL)<\/i> and the next day BMO announced <i>the establishment of the BMO S&amp;P\/TSX Laddered Preferred Share Index ETF (ZPR), based on TXPL<\/i>.<\/p>\n<p>In this essay I examine the properties of the new fund, opining that there was <i>a very good chance that ZPR will become an important part of the Canadian preferred share in a relatively short period of time<\/i>.<\/p>\n<p>At this remove, though, it is the digressions that are of greater interest:<\/p>\n<ul>\n<li>Digression: Money Market Funds and Spread-WAM<\/li>\n<li>Digression: The Importance of Time-Weighted vs. Dollar Weighted Returns<\/li>\n<li>Nested Digression: Cost of Mandatory Reporting of Dollar-Weighted Returns<\/li>\n<\/ul>\n<p>Regulators have done a lot of stupid things, but the creme de la creme is the mandatory reporting of Dollar-Weighted Returns.<\/p>\n<p>Look for the research link!<\/p>\n<div align=\" center\" =\"\"=\"\"><a href=\"http:\/\/www.himivest.com\/media\/prefLetterApp_1212.pdf\"><img decoding=\"async\" src=\"http:\/\/www.prefblog.com\/images\/ad_ZPRandTXPL_PL.gif\"><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>On November 19, 2012, S&amp;P announced a new index, the S&amp;P\/TSX Preferred Share Laddered index (TXPL) and the next day BMO announced the establishment of the BMO S&amp;P\/TSX Laddered Preferred Share Index ETF (ZPR), based &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":["post-43849","post","type-post","status-publish","format-standard","hentry","category-publications"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/43849","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=43849"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/43849\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}