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Are index funds the best way to own preferred stocks?

from CFA Institute's Enterprising Investor

The S&P U.S. Preferred Stock Index returned a cumulative 25.4 percent over the three years ending Oct. 31, more than doubling the 10.8 percent cumulative return offered by bonds as measured by the Bloomberg Barclays U.S. Aggregate Bond Index. Yield-hungry investors helped drive these returns by pouring money into preferred stock index funds. more

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