Claymore Investments, Inc. today launched the Claymore S&P/TSX CDN Preferred Share ETF (TSX: CPD) on the Toronto Stock Exchange. The exchange traded fund is comprised of preferred share issues listed on the TSX that meet criteria relating to market capitalization, liquidity, and issuer rating.

“We are very pleased to be able to launch this new ETF based on the S&P/TSX Preferred Share Index, which will be the first ETF based on the Canadian Preferred share market. The ETF will provide a great way for investors to access a diversified portfolio of preferred shares across companies, industries and credits. We believe that this will benefit both small and large investors because it will provide a great portfolio tool for small clients who need access in their portfolios to the preferred share market, while also providing a preferred share benchmark for larger institutions and investors. We are excited to be partnered with S&P and the TSX on this new product,” said Som Seif, president & CEO of Claymore, in a news release.

“Toronto Stock Exchange and Claymore share a commitment to bring to market new products that support investor demand and deepen the Canadian capital markets,” said Richard Nadeau, senior vp, TSX. “Toronto Stock Exchange is proud to list this new Claymore ETF on the Exchange.”

Like Claymore Investments’ other current ETFs, Claymore S&P/TSX CDN Preferred Share ETF, will be offering two classes of units, the Common Unit and Advisor Class Unit.