BPF-UN.TO vs. L.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Boston Pizza Royalties Income Fund (BPF-UN.TO) and Loblaw Companies Limited (L.TO).

Performance

BPF-UN.TO vs. L.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Boston Pizza Royalties Income Fund (BPF-UN.TO) and Loblaw Companies Limited (L.TO). The values are adjusted to include any dividend payments, if applicable.

BPF-UN.TO vs. L.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BPF-UN.TO Boston Pizza Royalties Income Fund	8.93%	39.45%	24.81%	10.18%	5.44%	51.64%	-12.49%	-3.10%	-25.51%	2.03%
L.TO Loblaw Companies Limited	2.44%	32.54%	50.14%	9.65%	18.16%	70.07%	-3.01%	13.23%	14.59%	-2.20%

Fundamentals

Market Cap BPF-UN.TO : CA$519.01M L.TO : CA$75.34B
EPS BPF-UN.TO : CA$1.80 L.TO : CA$4.47
PE Ratio BPF-UN.TO : 13.56 L.TO : 14.19
PS Ratio BPF-UN.TO : 11.02 L.TO : 0.59
PB Ratio BPF-UN.TO : 1.79 L.TO : 6.83
Total Revenue (TTM) BPF-UN.TO : CA$51.89M L.TO : CA$63.90B
Gross Profit (TTM) BPF-UN.TO : CA$51.81M L.TO : CA$19.99B
EBITDA (TTM) BPF-UN.TO : CA$65.14M L.TO : CA$7.20B

Returns By Period

In the year-to-date period, BPF-UN.TO achieves a 8.93% return, which is significantly higher than L.TO's 2.44% return. Over the past 10 years, BPF-UN.TO has underperformed L.TO with an annualized return of 10.76%, while L.TO has yielded a comparatively higher 18.51% annualized return.

BPF-UN.TO

• 1D: 1.71%
• 1M: -3.99%
• YTD: 8.93%
• 6M: 20.68%
• 1Y: 52.99%
• 3Y*: 27.39%
• 5Y*: 22.53%
• 10Y*: 10.76%

L.TO

• 1D: -0.39%
• 1M: 0.54%
• YTD: 2.44%
• 6M: 18.36%
• 1Y: 27.02%
• 3Y*: 29.27%
• 5Y*: 31.77%
• 10Y*: 18.51%

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

Return for Risk

BPF-UN.TO vs. L.TO — Risk / Return Rank

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

BPF-UN.TO

BPF-UN.TO Risk / Return Rank: 97
BPF-UN.TO Sharpe Ratio Rank: 98
BPF-UN.TO Sortino Ratio Rank: 98
BPF-UN.TO Omega Ratio Rank: 98
BPF-UN.TO Calmar Ratio Rank: 95
BPF-UN.TO Martin Ratio Rank: 97

L.TO

L.TO Risk / Return Rank: 79
L.TO Sharpe Ratio Rank: 82
L.TO Sortino Ratio Rank: 76
L.TO Omega Ratio Rank: 74
L.TO Calmar Ratio Rank: 84
L.TO Martin Ratio Rank: 82

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.

BPF-UN.TO vs. L.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Boston Pizza Royalties Income Fund (BPF-UN.TO) and Loblaw Companies Limited (L.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.

	BPF-UN.TO	L.TO	Difference
Sharpe ratio Return per unit of total volatility	3.35	1.31	+2.04
Sortino ratio Return per unit of downside risk	4.75	1.83	+2.92
Omega ratio Gain probability vs. loss probability	1.67	1.23	+0.44
Calmar ratio Return relative to maximum drawdown	5.81	2.74	+3.07
Martin ratio Return relative to average drawdown	20.37	6.23	+14.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BPF-UN.TO vs. L.TO - Sharpe Ratio Comparison

The current BPF-UN.TO Sharpe Ratio is 3.35, which is higher than the L.TO Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of BPF-UN.TO and L.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

	BPF-UN.TO	L.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.35	1.31	+2.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.32	1.73	-0.41
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.36	1.00	-0.64
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.69	-0.20

Correlation

The correlation between BPF-UN.TO and L.TO is 0.07, 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

BPF-UN.TO vs. L.TO - Dividend Comparison

BPF-UN.TO's dividend yield for the trailing twelve months is around 6.28%, more than L.TO's 0.89% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BPF-UN.TO Boston Pizza Royalties Income Fund	6.28%	6.73%	8.67%	8.31%	7.95%	5.57%	7.07%	10.25%	9.13%	6.30%	6.04%	7.14%
L.TO Loblaw Companies Limited	0.89%	0.89%	1.58%	2.14%	2.16%	2.32%	3.63%	3.34%	2.51%	1.57%	1.46%	1.52%

Drawdowns

BPF-UN.TO vs. L.TO - Drawdown Comparison

The maximum BPF-UN.TO drawdown since its inception was -70.67%, which is greater than L.TO's maximum drawdown of -63.24%. Use the drawdown chart below to compare losses from any high point for BPF-UN.TO and L.TO.

Drawdown Indicators

	BPF-UN.TO	L.TO	Difference
Max Drawdown Largest peak-to-trough decline	-70.67%	-63.24%	-7.43%
Max Drawdown (1Y) Largest decline over 1 year	-9.29%	-10.64%	+1.35%
Max Drawdown (5Y) Largest decline over 5 years	-18.63%	-13.81%	-4.82%
Max Drawdown (10Y) Largest decline over 10 years	-70.67%	-20.23%	-50.44%
Current Drawdown Current decline from peak	-4.59%	-8.22%	+3.63%
Average Drawdown Average peak-to-trough decline	-11.85%	-14.87%	+3.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	4.68%	-2.03%

Volatility

BPF-UN.TO vs. L.TO - Volatility Comparison

Boston Pizza Royalties Income Fund (BPF-UN.TO) has a higher volatility of 6.77% compared to Loblaw Companies Limited (L.TO) at 5.71%. This indicates that BPF-UN.TO's price experiences larger fluctuations and is considered to be riskier than L.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BPF-UN.TO	L.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.77%	5.71%	+1.06%
Volatility (6M) Calculated over the trailing 6-month period	11.55%	15.61%	-4.06%
Volatility (1Y) Calculated over the trailing 1-year period	15.88%	20.79%	-4.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.14%	18.47%	-1.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.72%	18.62%	+11.10%

Financials