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VXM-B

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1d
1w
1m

Analysis and statistics

  • Open
    41.4893$
  • Previous Close
    41.232$
  • 52 Week Change
    --
  • Day Range
    0.26$
  • 52 Week High/Low
    --
  • Dividend Per Share
    --
  • Market cap
    --$
  • EPS
    --
  • Beta
    --
  • Volume
    --

About

VXM-B.TO represents a Canadian-listed, perpetual, fixed-rate reset preferred share issued by CI Financial Corporation. These shares offer a fixed dividend yield until a specified reset date, after which the dividend rate is reset based on a predetermined spread over the Government of Canada benchmark bond yield. Preferred shares, like VXM-B.TO, rank senior to common shares in the event of liquidation and typically offer a more stable income stream compared to common stock dividends, although they generally do not participate in capital appreciation to the same extent. The "B" designation indicates the series of preferred shares.
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Factors

Supply and Demand: Increased demand for VXM-B.TO units drives the price up, while higher supply pushes it down.

Underlying Index Performance: VXM-B.TO tracks the S&P 500 VIX Short-Term Futures Index, so the index's movements directly impact the ETF's value. Futures prices are influenced by volatility expectations.

Volatility Expectations: Rising volatility often leads to higher VIX futures prices, increasing VXM-B.TO's value. Conversely, decreasing volatility usually causes lower VIX futures and a decline in the ETF's price.

Contango/Backwardation: The shape of the VIX futures curve (contango or backwardation) significantly impacts returns. Contango (futures prices higher than spot prices) usually results in losses due to the roll yield effect, reducing the ETF's value. Backwardation (futures prices lower than spot prices) can create positive roll yield.

Management Fees and Expenses: The ETF's expense ratio and any trading costs reduce overall returns and can slightly affect the price relative to the underlying index.

Market Sentiment: General investor sentiment towards risk and the overall market outlook can influence demand for VIX-related products like VXM-B.TO.

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