The S&P/TSX Preferred Share Index is designed to serve the investment community's need for an investable benchmark representing the Canadian preferred stock
market. The index is comprised of preferred stocks trading on Toronto Stock Exchange that meet criteria relating to minimum size, liquidity, issuer rating, and
exchange listing.
Preferred stocks are a class of securities that combine the characteristics of debt and common stocks. While their expected volatility and returns fall between
those of common stocks and bonds, their yields are typically higher than that of common stock, the bond market and the money market. With low correlations to common
stocks and bonds, they serve as good diversification instruments.
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