This CPSE FFO was panned and condemned by all of media but they simply missed the point. The ETF and it's underlying stocks are dividend income plays with fat book value and not meant to be in a growth PF. Suited for Pension+ Insurance funds,not for those looking for a 10 bagger!
Thing is most of underlying stocks (NTPC) are in mature cyclical space where u can't get an alpha even if Warren Buffet were the owner. These ETFs make eminent sense to give a steady non debt income in one's PF. Want that 20% CAGR? This is not for you.
The passenger bus is not designed to win Grand Prix ! Does it mean it has no purpose or no one should own a bus ? No. Different tasks different vehicles. Ditto with these low ROE, Cyclical ,Capex intensive state owned business, exist for a reason.
