BPF-UN.TO vs. MTL.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Boston Pizza Royalties Income Fund (BPF-UN.TO) and Mullen Group Ltd. (MTL.TO).

Performance

BPF-UN.TO vs. MTL.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 Mullen Group Ltd. (MTL.TO). The values are adjusted to include any dividend payments, if applicable.

BPF-UN.TO vs. MTL.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%
MTL.TO Mullen Group Ltd.	9.42%	14.66%	9.57%	1.51%	31.70%	10.96%	23.04%	-19.32%	-19.13%	-18.83%

Fundamentals

Market Cap BPF-UN.TO : CA$519.01M MTL.TO : CA$2.24B
EPS BPF-UN.TO : CA$1.80 MTL.TO : CA$0.84
PE Ratio BPF-UN.TO : 13.56 MTL.TO : 20.29
PEG Ratio BPF-UN.TO : 2.78 MTL.TO : 1.01
PS Ratio BPF-UN.TO : 11.02 MTL.TO : 0.87
PB Ratio BPF-UN.TO : 1.79 MTL.TO : 1.97
Total Revenue (TTM) BPF-UN.TO : CA$51.89M MTL.TO : CA$2.13B
Gross Profit (TTM) BPF-UN.TO : CA$51.81M MTL.TO : CA$493.59M
EBITDA (TTM) BPF-UN.TO : CA$65.14M MTL.TO : CA$324.64M

Returns By Period

In the year-to-date period, BPF-UN.TO achieves a 8.93% return, which is significantly lower than MTL.TO's 9.42% return. Over the past 10 years, BPF-UN.TO has outperformed MTL.TO with an annualized return of 10.76%, while MTL.TO has yielded a comparatively lower 6.81% 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%

MTL.TO

• 1D: 2.21%
• 1M: -0.99%
• YTD: 9.42%
• 6M: 25.49%
• 1Y: 44.08%
• 3Y*: 10.72%
• 5Y*: 11.49%
• 10Y*: 6.81%

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

Return for Risk

BPF-UN.TO vs. MTL.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

MTL.TO

MTL.TO Risk / Return Rank: 90
MTL.TO Sharpe Ratio Rank: 89
MTL.TO Sortino Ratio Rank: 85
MTL.TO Omega Ratio Rank: 88
MTL.TO Calmar Ratio Rank: 93
MTL.TO Martin Ratio Rank: 93

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. MTL.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 Mullen Group Ltd. (MTL.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	MTL.TO	Difference
Sharpe ratio Return per unit of total volatility	3.35	1.86	+1.49
Sortino ratio Return per unit of downside risk	4.75	2.36	+2.39
Omega ratio Gain probability vs. loss probability	1.67	1.37	+0.31
Calmar ratio Return relative to maximum drawdown	5.81	4.75	+1.06
Martin ratio Return relative to average drawdown	20.37	13.52	+6.85
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. MTL.TO - Sharpe Ratio Comparison

The current BPF-UN.TO Sharpe Ratio is 3.35, which is higher than the MTL.TO Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of BPF-UN.TO and MTL.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	MTL.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.35	1.86	+1.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.32	0.43	+0.89
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.36	0.21	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	-0.62	+1.11

Correlation

The correlation between BPF-UN.TO and MTL.TO is 0.17, 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. MTL.TO - Dividend Comparison

BPF-UN.TO's dividend yield for the trailing twelve months is around 6.28%, more than MTL.TO's 4.51% 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%
MTL.TO Mullen Group Ltd.	4.51%	5.34%	5.28%	5.13%	4.67%	4.13%	3.30%	6.47%	4.91%	2.29%	2.82%	8.57%

Drawdowns

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

The maximum BPF-UN.TO drawdown since its inception was -70.67%, smaller than the maximum MTL.TO drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for BPF-UN.TO and MTL.TO.

Drawdown Indicators

	BPF-UN.TO	MTL.TO	Difference
Max Drawdown Largest peak-to-trough decline	-70.67%	-100.00%	+29.33%
Max Drawdown (1Y) Largest decline over 1 year	-9.29%	-9.01%	-0.28%
Max Drawdown (5Y) Largest decline over 5 years	-18.63%	-21.59%	+2.96%
Max Drawdown (10Y) Largest decline over 10 years	-70.67%	-77.25%	+6.58%
Current Drawdown Current decline from peak	-4.59%	-99.98%	+95.39%
Average Drawdown Average peak-to-trough decline	-11.85%	-93.11%	+81.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	3.17%	-0.52%

Volatility

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

The current volatility for Boston Pizza Royalties Income Fund (BPF-UN.TO) is 6.77%, while Mullen Group Ltd. (MTL.TO) has a volatility of 8.52%. This indicates that BPF-UN.TO experiences smaller price fluctuations and is considered to be less risky than MTL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BPF-UN.TO	MTL.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.77%	8.52%	-1.75%
Volatility (6M) Calculated over the trailing 6-month period	11.55%	17.88%	-6.33%
Volatility (1Y) Calculated over the trailing 1-year period	15.88%	23.79%	-7.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.14%	26.98%	-9.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.72%	31.96%	-2.24%

Financials