BPF-UN.TO vs. SRU-UN.TO

Last updated Apr 2, 2026

Compare and contrast key facts about Boston Pizza Royalties Income Fund (BPF-UN.TO) and SmartCentres Real Estate Investment Trust (SRU-UN.TO).

Performance

BPF-UN.TO vs. SRU-UN.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 SmartCentres Real Estate Investment Trust (SRU-UN.TO). The values are adjusted to include any dividend payments, if applicable.

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BPF-UN.TO Boston Pizza Royalties Income Fund	9.11%	39.45%	24.81%	10.18%	5.44%	51.64%	-12.49%	-3.10%	-25.51%	2.03%
SRU-UN.TO SmartCentres Real Estate Investment Trust	6.74%	13.10%	6.13%	0.16%	-11.27%	48.64%	-19.65%	6.97%	5.77%	1.14%

Fundamentals

Market Cap BPF-UN.TO : CA$519.86M SRU-UN.TO : CA$4.92B
EPS BPF-UN.TO : CA$1.80 SRU-UN.TO : CA$1.44
PE Ratio BPF-UN.TO : 13.58 SRU-UN.TO : 18.71
PS Ratio BPF-UN.TO : 11.04 SRU-UN.TO : 5.08
PB Ratio BPF-UN.TO : 1.79 SRU-UN.TO : 0.94
Total Revenue (TTM) BPF-UN.TO : CA$51.89M SRU-UN.TO : CA$927.28M
Gross Profit (TTM) BPF-UN.TO : CA$51.81M SRU-UN.TO : CA$564.58M
EBITDA (TTM) BPF-UN.TO : CA$65.14M SRU-UN.TO : CA$486.20M

Returns By Period

In the year-to-date period, BPF-UN.TO achieves a 9.11% return, which is significantly higher than SRU-UN.TO's 6.74% return. Over the past 10 years, BPF-UN.TO has outperformed SRU-UN.TO with an annualized return of 10.77%, while SRU-UN.TO has yielded a comparatively lower 4.40% annualized return.

BPF-UN.TO

• 1D: 0.16%
• 1M: -3.15%
• YTD: 9.11%
• 6M: 20.94%
• 1Y: 53.69%
• 3Y*: 27.46%
• 5Y*: 22.57%
• 10Y*: 10.77%

SRU-UN.TO

• 1D: 1.43%
• 1M: -1.78%
• YTD: 6.74%
• 6M: 4.42%
• 1Y: 13.69%
• 3Y*: 8.34%
• 5Y*: 7.30%
• 10Y*: 4.40%

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

Return for Risk

BPF-UN.TO vs. SRU-UN.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: 97
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: 96

SRU-UN.TO

SRU-UN.TO Risk / Return Rank: 74
SRU-UN.TO Sharpe Ratio Rank: 75
SRU-UN.TO Sortino Ratio Rank: 68
SRU-UN.TO Omega Ratio Rank: 64
SRU-UN.TO Calmar Ratio Rank: 79
SRU-UN.TO Martin Ratio Rank: 80

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. SRU-UN.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 SmartCentres Real Estate Investment Trust (SRU-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.

	BPF-UN.TO	SRU-UN.TO	Difference
Sharpe ratio Return per unit of total volatility	3.40	1.07	+2.33
Sortino ratio Return per unit of downside risk	4.80	1.55	+3.25
Omega ratio Gain probability vs. loss probability	1.68	1.19	+0.50
Calmar ratio Return relative to maximum drawdown	5.73	2.29	+3.44
Martin ratio Return relative to average drawdown	19.99	6.20	+13.79
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. SRU-UN.TO - Sharpe Ratio Comparison

The current BPF-UN.TO Sharpe Ratio is 3.40, which is higher than the SRU-UN.TO Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of BPF-UN.TO and SRU-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

	BPF-UN.TO	SRU-UN.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.40	1.07	+2.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.32	0.45	+0.87
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.36	0.21	+0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.35	+0.14

Correlation

The correlation between BPF-UN.TO and SRU-UN.TO is 0.22, 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. SRU-UN.TO - Dividend Comparison

BPF-UN.TO's dividend yield for the trailing twelve months is around 6.27%, less than SRU-UN.TO's 6.84% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BPF-UN.TO Boston Pizza Royalties Income Fund	6.27%	6.73%	8.67%	8.31%	7.95%	5.57%	7.07%	10.25%	9.13%	6.30%	6.04%	7.14%
SRU-UN.TO SmartCentres Real Estate Investment Trust	6.84%	7.18%	7.56%	7.42%	6.90%	5.74%	8.01%	5.81%	5.72%	5.55%	5.17%	5.34%

Drawdowns

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

The maximum BPF-UN.TO drawdown since its inception was -70.67%, roughly equal to the maximum SRU-UN.TO drawdown of -68.25%. Use the drawdown chart below to compare losses from any high point for BPF-UN.TO and SRU-UN.TO.

Drawdown Indicators

	BPF-UN.TO	SRU-UN.TO	Difference
Max Drawdown Largest peak-to-trough decline	-70.67%	-68.25%	-2.42%
Max Drawdown (1Y) Largest decline over 1 year	-9.29%	-6.39%	-2.90%
Max Drawdown (5Y) Largest decline over 5 years	-18.63%	-28.89%	+10.26%
Max Drawdown (10Y) Largest decline over 10 years	-70.67%	-54.78%	-15.89%
Current Drawdown Current decline from peak	-4.43%	-2.71%	-1.72%
Average Drawdown Average peak-to-trough decline	-11.85%	-11.06%	-0.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.66%	2.36%	+0.30%

Volatility

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

Boston Pizza Royalties Income Fund (BPF-UN.TO) has a higher volatility of 6.57% compared to SmartCentres Real Estate Investment Trust (SRU-UN.TO) at 3.81%. This indicates that BPF-UN.TO's price experiences larger fluctuations and is considered to be riskier than SRU-UN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BPF-UN.TO	SRU-UN.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.57%	3.81%	+2.76%
Volatility (6M) Calculated over the trailing 6-month period	11.55%	8.51%	+3.04%
Volatility (1Y) Calculated over the trailing 1-year period	15.88%	12.85%	+3.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.14%	16.24%	+0.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.71%	21.57%	+8.14%

Financials