zpr stock

Review of ZPR: BMO Laddered Preferred Share Index ETF 2023

Investment objective

The BMO Laddered Preferred Share Index ETF (ZPR) has been designed to replicate, to the extent possible, the performance of the Solactive Laddered Canadian Preferred Share Index, net of expenses. The Fund invests in and holds the Constituent Securities of the Index in the same proportion as they are reflected in the Index. The constituents are preferred shares issued by major Canadian businesses.

ZPR is ideal for investor who are seeking a fixed income product with high dividend yield. These ETFs are pretty popular because they offer investors attractive yields with the possibility of capital appreciation. Among all fixed-income products, there’s no question that preferred shares usually provide the best return compared to bonds. This being said a preferred share carries more risk than owning a bond.

ZPR stock analysis and comments

ZPR has short-duration preferred shares (meaning the fund invests in preferred shares that have a short term maturity). ZPR also has rate reset features. If you think we will see rising rates, which is a reasonable assumption, they will ratchet their rates up to keep up with rising interest rates. If rates rise, it does participate and offset some inflation.

Thanks to the rate reset feature, ZPR offers more stability. Additionally, it is professionally managed by BMO Global Asset Management.

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MER and AUM: ZPR vs DXP,RPF,HPR and CPD

Name-TickerAUM MER
BMO Laddered
Pref Share – ZPR
2,1850.50
Horizons Active
Pref Share – HPR
1,6020.64
Ishares S&P TSX
CDN Pref – CPD
1,3860.50
RBC Canadian Pref
Share – RPF
9040.58
Dyn Ishares Active
Pref Shares – DXP
6970.67

Source: Barchart

Performance: ZPR vs DXP,RPF,HPR and CPD

Updated daily

ETFDiv
Yield
 ZPR5.95%
 HPR5.84%
 CPD5.49%
 RPF5.60%
 DXP4.58%

Source: Barchart / Dividend yield as of November 23rd

ZPR Stock: Morningstar rating

Rating: 3 out of 5.

ZPR Monthly Dividend distribution

Distrib
Period
Ex-Div
Date
Pay
Date
Cash
Distrib
Jan, 2022Jan 27, 2022Feb 02, 20220.045000
Feb, 2022Feb 24, 2022Mar 02, 20220.045000
Mar, 2022Mar 29, 2022Apr 04, 20220.045000
Apr, 2022Apr 27, 2022May 03, 20220.045000
May, 2022May 27, 2022Jun 03, 20220.045000
Jun, 2022Jun 28, 2022Jul 05, 20220.045000
Jul, 2022Jul 27, 2022Aug 03, 2022
Aug, 2022Aug 29, 2022Sep 02, 2022
Sep, 2022Sep 28, 2022Oct 05, 2022
Oct, 2022Oct 27, 2022Nov 02, 2022

ZPR Holdings

  • by preferred shares
Weight (%)Name
1.70%TC ENERGY SR 15 4.90 PFD
1.65%ROYAL BANK SR BD 3.20 PFD
1.57%BCE INC SR AK 2.954 PFD
1.38%CANADIAN I SR 45 4.40 PFD
1.32%ENBRIDGE I SR 19 4.90 PFD
1.30%TORONTO-DO SR 5 3.876 PFD
1.22%ENBRIDGE I SR 17 5.15 PFD
1.17%INTACT FIN SR 3 3.332 PFD
1.12%ENBRIDGE I SR 11 4.40 PFD
1.09%CANADIAN I SR 47 4.50 PFD

ZPR stock: Sector Allocation

ZPR invests primarily in preferred shares of stocks operating in the financial and oil/Gaz industry.

  • 26.69%, Diversified Banks.
  • 21.85%, Oil & Gas Storage & Transportation.
  • 8.21%, Life & Health Insurance.