Horizons AlphaPro unveils Preferred Share ETF

The fund's investment objective is to provide dividend income while preserving capital by investing primarily in preferred shares of Canadian, and sometimes American, companies. AlphaPro president Ken McCord says the move is motivated by the firm's belief that an active strategy can overcome many of the limitations found in trying to replicate a preferred share index. He says that preferred shares also offer tax-efficient yields and lower volatility than common shares. He adds: "For investors with a need for income and an appropriate risk tolerance, preferred shares can be a very e...