Preferred Shares By Sector Report will explore the Canadian Preferred Share market by looking at issuer companies by sector and or category. The idea here to see if we can use the ranking by sector as another metric to help us identify mispriced stocks. Preferreds can be mispriced in relation to similar issues within the same sectors and categories as well as in relation to similar preferreds of other issuers.
We already provide a lot of compare tables on individual preferreds grouped by various categories and features. This one will examine the data at a higher level, a level up from the individual preferred share. I hope some of you will find this usefull and figure out a way to incorporate this information in your trading.
Preferred Shares By Sector Report Metrics
I have included 3 metrics per issuer. You can use one or more depending on your investment style.
For each one of the sector we track we review all securities belonging to that sector and provide the following statistics for each of “current yield”, “reset yield” and rate increase categories
- A count of the number of preferreds within the sector.
- Average Yield the preffereds offer in the sector.
- Identify the securities providing the maximum and minimum yield
The average yield of all securities within the same sector. It is calculated by adding up the current yields of all preferreds and dividing the total by the number of preferreds. For reference i have also included the current Highest and Lowest yields offered and the securities offering these yields.
The second metric is the reset yield of the sector. Again this is the average reset yield by all preferreds belonging to the specific sector. Remember the reset yield is based on today’s 5 year GOC rate. It is calculated by adding up the reset yields of all preferreds and dividing the total by the number of preferreds. For reference i have also included the reset Highest and Lowest reset yields offered.
Rate Increase percent is the last one. Again this is the average rate increase by all preferreds issued by all issuers within the sector. It is calculated by adding up the rate increase percent of all preferreds and dividing the total by the number of preferreds. For reference i have also included the Highest and Lowest rate increases.
For a more detailed explanation on the meaning and use of the metrics current yield, reset yield and percent increase see Ranking Table Column Information page.
Preferred Shares Issuer Report Metrics Table
The table depicting the metrics is dynamic and these values will be updated daily, reflecting the latest values of all factors included included in the calculations.
The timestamp at the top of the table indicates when the data was generated last.
| Statistics By Sector | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current | Reset | Rate Change | Market Cap | |||||||||||||
| Sector | Count | Average Yield | Maximum | Minimum | Count | Average Yield | Maximum | Minimum | Count | Average Percent | Maximum | Minimum | At Market Value | At Face Value | ||
| Banks | 32 | 5.48% | 9.38% -> FN-B | 3.12% -> RY-M | 25 | 6.02% | 9.67% -> FN-A | 5.23% -> BMO-W | 32 | 6.18% | 90.00% -> FN-A | -8.000% -> CWB-D | 8,119,086,753 | 8,271,276,470 | ||
| Insurance | 73 | 5.96% | 8.28% -> FFH-H | 2.87% -> SLF-G | 22 | 6.66% | 7.90% -> FFH-G | 5.39% -> MFC-K | 73 | 22.58% | 92.00% -> PWF-A | -5.000% -> LCS-A | 11,395,484,261 | 13,707,937,990 | ||
| Utilities | 59 | 6.34% | 8.51% -> BRF-B | 3.00% -> FTS-H | 35 | 7.28% | 9.98% -> CSE-A | 6.03% -> FTS-G | 59 | 26.64% | 76.00% -> CIU-C | -6.000% -> ENS-A | 8,017,011,943 | 9,779,660,195 | ||
| Green Energy | 15 | 6.67% | 8.51% -> BRF-B | 4.35% -> BRF-A | 9 | 7.88% | 9.98% -> CSE-A | 6.78% -> BRF-C | 15 | 30.33% | 74.00% -> CSE-A | 3.00% -> BEP-G | 1,604,226,090 | 2,003,036,575 | ||
| Independent Power Producers | 24 | 6.74% | 8.51% -> BRF-B | 4.21% -> CPX-A | 16 | 7.69% | 9.98% -> CSE-A | 6.41% -> CPX-C | 24 | 29.41% | 74.00% -> CSE-A | 2.00% -> CPX-C | 2,774,481,113 | 3,443,036,575 | ||
| Real Estate | 19 | 8.21% | 11.03% -> BPO-W | 5.03% -> BPS-B | 11 | 10.02% | 11.37% -> BPO-R | 7.68% -> AX-E | 19 | 57.47% | 164.0% -> BPO-W | 0.00% -> BPYP-A | 2,464,729,730 | 3,536,342,125 | ||
| Asset Managment | 21 | 6.49% | 9.23% -> BN-K | 4.20% -> BN.PF.G | 13 | 7.02% | 7.96% -> BN-T | 3.00% -> BN.PF.L | 21 | 44.00% | 121.0% -> BN-K | 4.00% -> BN.PF.H | 3,441,101,722 | 4,573,512,477 | ||
| Communication Services | 20 | 7.84% | 9.64% -> BCE-J | 4.90% -> BCE-M | 11 | 4.31% | 8.58% -> BCE-K | 3.00% -> BCE-C | 20 | 59.05% | 76.00% -> BCE-K | 13.00% -> BCE-Q | 2,270,944,223 | 3,642,788,294 | ||
| Consumer Defensive | 5 | 6.00% | 6.12% -> WN-C | 5.84% -> L-B | 0 | N/A | N/A | N/A | 5 | 14.20% | 26.00% -> WN-E | 2.00% -> WN-A | 932,920,000 | 1,060,000,000 | ||
| Pipelines | 39 | 6.50% | 8.43% -> TRP-H | 3.19% -> TRP-B | 33 | 7.23% | 8.36% -> TRP-C | 6.15% -> PPL-A | 39 | 27.64% | 88.00% -> TRP-B | 1.00% -> PPL-S | 9,354,107,848 | 11,774,296,750 | ||
Canadian Preferred Shares – Mission
Our mission is to provide the average investor with the knowledge, up to date information, latest trends, data and tools to select the best preferreds to purchase or sell today.
Without tools like the ones we provide here, its simply not possible to make an educated decision, thus keeping most individual investors away. Our tools provide an overall view, of the preferreds market. With a few clicks you can easily locate today’s best preferreds within a sector/category or across the whole market.
Using our homepage as a starting point you can access all of our tools.