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Mulvihill Capital Markets
An enhanced Canadian preferred-share fund with modest borrowed exposure. Fee 0.65% a year.
Funds of this type differ on a small set of facts. Where this fund sits on each:
Leveraged exposure to the Canadian market. The fund uses a modest amount of borrowed money to increase its exposure, which amplified both gains and losses and added borrowing costs.
Source: fund provider disclosure.
The management fee was 0.65% a year, or about $65 for every $10,000 held. The options overlay is run inside the fund, so there is no separate fee, though it changes the return and distribution profile. Trading spreads are separate from this fee. This is the management fee as published by the provider; the total expense ratio can be slightly higher once fund operating costs are added.
How durable the fund is, and what moved its price.
| Assets | $51M· net assets |
| Listed | 2024· 1 years of history |
| Leverage / overlay | Modest leverage (borrowing), options overlay |
What moved the price
| Ticker | SPFD.TO |
| Exchange | TSX |
| Currency | CAD |
| FX strategy | CAD-unhedged |
| Asset class | Fixed Income |
| Structure | Leveraged |
| Theme | Preferred Shares |
| Geography | Canada |
| Provider | Mulvihill Capital Markets |
| Mgmt fee | 0.65% |
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Prices as of last close.
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