AP-UN.TO vs. CAR-UN.TO

Last updated Apr 2, 2026

Compare and contrast key facts about Allied Properties Real Estate Investment Trust (AP-UN.TO) and Canadian Apartment Properties Real Estate Investment Trust (CAR-UN.TO).

Performance

AP-UN.TO vs. CAR-UN.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Allied Properties Real Estate Investment Trust (AP-UN.TO) and Canadian Apartment Properties Real Estate Investment Trust (CAR-UN.TO). The values are adjusted to include any dividend payments, if applicable.

AP-UN.TO vs. CAR-UN.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AP-UN.TO Allied Properties Real Estate Investment Trust	-30.38%	-13.47%	-5.92%	-12.14%	-38.62%	20.95%	-24.39%	21.30%	9.29%	21.85%
CAR-UN.TO Canadian Apartment Properties Real Estate Investment Trust	-1.11%	-10.17%	-6.48%	19.26%	-26.56%	22.96%	-2.97%	22.93%	22.52%	23.53%

Fundamentals

Market Cap AP-UN.TO : CA$1.28B CAR-UN.TO : CA$5.68B
EPS AP-UN.TO : -CA$9.50 CAR-UN.TO : CA$1.24
PS Ratio AP-UN.TO : 2.16 CAR-UN.TO : 5.72
PB Ratio AP-UN.TO : 0.32 CAR-UN.TO : 0.65
Total Revenue (TTM) AP-UN.TO : CA$592.38M CAR-UN.TO : CA$1.00B
Gross Profit (TTM) AP-UN.TO : CA$313.21M CAR-UN.TO : CA$593.74M
EBITDA (TTM) AP-UN.TO : -CA$1.19B CAR-UN.TO : CA$480.34M

Returns By Period

In the year-to-date period, AP-UN.TO achieves a -30.38% return, which is significantly lower than CAR-UN.TO's -1.11% return. Over the past 10 years, AP-UN.TO has underperformed CAR-UN.TO with an annualized return of -7.09%, while CAR-UN.TO has yielded a comparatively higher 6.10% annualized return.

AP-UN.TO

• 1D: -0.33%
• 1M: -3.15%
• YTD: -30.38%
• 6M: -54.18%
• 1Y: -39.94%
• 3Y*: -19.86%
• 5Y*: -19.43%
• 10Y*: -7.09%

CAR-UN.TO

• 1D: 1.61%
• 1M: -4.50%
• YTD: -1.11%
• 6M: -9.08%
• 1Y: -12.23%
• 3Y*: -3.99%
• 5Y*: -3.88%
• 10Y*: 6.10%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

AP-UN.TO vs. CAR-UN.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AP-UN.TO

AP-UN.TO Risk / Return Rank: 11
AP-UN.TO Sharpe Ratio Rank: 6
AP-UN.TO Sortino Ratio Rank: 11
AP-UN.TO Omega Ratio Rank: 6
AP-UN.TO Calmar Ratio Rank: 18
AP-UN.TO Martin Ratio Rank: 14

CAR-UN.TO

CAR-UN.TO Risk / Return Rank: 17
CAR-UN.TO Sharpe Ratio Rank: 14
CAR-UN.TO Sortino Ratio Rank: 14
CAR-UN.TO Omega Ratio Rank: 15
CAR-UN.TO Calmar Ratio Rank: 20
CAR-UN.TO Martin Ratio Rank: 22

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AP-UN.TO vs. CAR-UN.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allied Properties Real Estate Investment Trust (AP-UN.TO) and Canadian Apartment Properties Real Estate Investment Trust (CAR-UN.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AP-UN.TO	CAR-UN.TO	Difference
Sharpe ratio Return per unit of total volatility	-0.92	-0.63	-0.29
Sortino ratio Return per unit of downside risk	-1.02	-0.78	-0.23
Omega ratio Gain probability vs. loss probability	0.80	0.91	-0.10
Calmar ratio Return relative to maximum drawdown	-0.66	-0.61	-0.05
Martin ratio Return relative to average drawdown	-1.31	-1.06	-0.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AP-UN.TO vs. CAR-UN.TO - Sharpe Ratio Comparison

The current AP-UN.TO Sharpe Ratio is -0.92, which is lower than the CAR-UN.TO Sharpe Ratio of -0.63. The chart below compares the historical Sharpe Ratios of AP-UN.TO and CAR-UN.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	AP-UN.TO	CAR-UN.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.92	-0.63	-0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.65	-0.19	-0.46
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.26	0.29	-0.55
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	0.35	-0.11

Correlation

The correlation between AP-UN.TO and CAR-UN.TO is 0.36, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

AP-UN.TO vs. CAR-UN.TO - Dividend Comparison

AP-UN.TO's dividend yield for the trailing twelve months is around 15.74%, more than CAR-UN.TO's 4.30% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AP-UN.TO Allied Properties Real Estate Investment Trust	15.74%	12.79%	10.50%	11.30%	6.84%	3.88%	4.38%	3.07%	3.53%	3.65%	4.18%	4.65%
CAR-UN.TO Canadian Apartment Properties Real Estate Investment Trust	4.30%	4.19%	7.00%	4.12%	3.40%	2.35%	2.76%	2.59%	2.96%	3.42%	3.95%	4.50%

Drawdowns

AP-UN.TO vs. CAR-UN.TO - Drawdown Comparison

The maximum AP-UN.TO drawdown since its inception was -76.72%, which is greater than CAR-UN.TO's maximum drawdown of -65.08%. Use the drawdown chart below to compare losses from any high point for AP-UN.TO and CAR-UN.TO.

Drawdown Indicators

	AP-UN.TO	CAR-UN.TO	Difference
Max Drawdown Largest peak-to-trough decline	-76.72%	-65.08%	-11.64%
Max Drawdown (1Y) Largest decline over 1 year	-58.74%	-21.37%	-37.37%
Max Drawdown (5Y) Largest decline over 5 years	-73.59%	-34.95%	-38.64%
Max Drawdown (10Y) Largest decline over 10 years	-76.72%	-38.20%	-38.52%
Current Drawdown Current decline from peak	-75.80%	-29.84%	-45.96%
Average Drawdown Average peak-to-trough decline	-16.95%	-9.17%	-7.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.45%	12.34%	+17.11%

Volatility

AP-UN.TO vs. CAR-UN.TO - Volatility Comparison

Allied Properties Real Estate Investment Trust (AP-UN.TO) has a higher volatility of 5.74% compared to Canadian Apartment Properties Real Estate Investment Trust (CAR-UN.TO) at 4.49%. This indicates that AP-UN.TO's price experiences larger fluctuations and is considered to be riskier than CAR-UN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AP-UN.TO	CAR-UN.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.74%	4.49%	+1.25%
Volatility (6M) Calculated over the trailing 6-month period	43.50%	12.21%	+31.29%
Volatility (1Y) Calculated over the trailing 1-year period	43.83%	19.57%	+24.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.16%	21.04%	+9.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.33%	21.03%	+6.30%

Financials