BPYPN vs. BPYPM

Last updated Jun 4, 2026

BPYPN (Brookfield Property Partners L.P.) and BPYPM (Brookfield Property Preferred L.P.) are both stocks. Over the past 3 years, BPYPN returned 14.99%/yr vs 14.81%/yr for BPYPM. At a 0.45 correlation, their price movements are largely independent.

Performance

BPYPN vs. BPYPM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Brookfield Property Partners L.P. (BPYPN) and Brookfield Property Preferred L.P. (BPYPM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BPYPN achieves a 8.17% return, which is significantly lower than BPYPM's 13.05% return.

BPYPN

• 1D: -0.29%
• 1M: 0.38%
• YTD: 8.17%
• 6M: 7.20%
• 1Y: 18.66%
• 3Y*: 14.99%
• 5Y*: -2.22%
• 10Y*: —

BPYPM

• 1D: -1.07%
• 1M: 1.50%
• YTD: 13.05%
• 6M: 12.98%
• 1Y: 21.97%
• 3Y*: 14.81%
• 5Y*: —
• 10Y*: —

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

BPYPN vs. BPYPM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BPYPN Brookfield Property Partners L.P.	8.17%	19.12%	20.99%	-5.46%	-37.80%	-2.49%
BPYPM Brookfield Property Preferred L.P.	13.05%	11.40%	37.58%	-2.75%	-41.30%	6.77%

Correlation

The correlation between BPYPN and BPYPM is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (All Time) Calculated using the full available price history since Jul 28, 2021	0.45

Over the past year, the correlation between BPYPN and BPYPM has dropped to 0.22 - well below their long-term average of 0.45, suggesting their price drivers have been diverging.

Return for Risk

BPYPN vs. BPYPM — Risk / Return Rank

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

BPYPN

BPYPN Risk / Return Rank: 74
BPYPN Sharpe Ratio Rank: 73
BPYPN Sortino Ratio Rank: 68
BPYPN Omega Ratio Rank: 68
BPYPN Calmar Ratio Rank: 79
BPYPN Martin Ratio Rank: 80

BPYPM

BPYPM Risk / Return Rank: 76
BPYPM Sharpe Ratio Rank: 74
BPYPM Sortino Ratio Rank: 73
BPYPM Omega Ratio Rank: 73
BPYPM Calmar Ratio Rank: 80
BPYPM Martin Ratio Rank: 78

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.

BPYPN vs. BPYPM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brookfield Property Partners L.P. (BPYPN) and Brookfield Property Preferred L.P. (BPYPM). 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.

	BPYPN	BPYPM	Difference
Sharpe ratio Return per unit of total volatility	1.07	1.12	-0.05
Sortino ratio Return per unit of downside risk	1.61	1.88	-0.26
Omega ratio Gain probability vs. loss probability	1.22	1.25	-0.04
Calmar ratio Return relative to maximum drawdown	2.59	2.66	-0.07
Martin ratio Return relative to average drawdown	6.77	5.87	+0.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BPYPN vs. BPYPM - Sharpe Ratio Comparison

The current BPYPN Sharpe Ratio is 1.07, which is comparable to the BPYPM Sharpe Ratio of 1.12. The chart below compares the historical Sharpe Ratios of BPYPN and BPYPM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BPYPN	BPYPM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.07	1.12	-0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.09	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.02	0.05	-0.06

Drawdowns

BPYPN vs. BPYPM - Drawdown Comparison

The maximum BPYPN drawdown since its inception was -68.71%, which is greater than BPYPM's maximum drawdown of -47.92%. Use the drawdown chart below to compare losses from any high point for BPYPN and BPYPM.

Drawdown Indicators

	BPYPN	BPYPM	Difference
Max Drawdown Largest peak-to-trough decline	-68.71%	-47.92%	-20.79%
Max Drawdown (1Y) Largest decline over 1 year	-7.25%	-8.30%	+1.05%
Max Drawdown (3Y) Largest decline over 3 years	-28.79%	-26.21%	-2.58%
Max Drawdown (5Y) Largest decline over 5 years	-53.27%	—	—
Current Drawdown Current decline from peak	-11.40%	-1.99%	-9.41%
Average Drawdown Average peak-to-trough decline	-22.57%	-21.08%	-1.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.76%	3.75%	-0.99%

Volatility

BPYPN vs. BPYPM - Volatility Comparison

Brookfield Property Partners L.P. (BPYPN) has a higher volatility of 3.53% compared to Brookfield Property Preferred L.P. (BPYPM) at 2.23%. This indicates that BPYPN's price experiences larger fluctuations and is considered to be riskier than BPYPM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BPYPN	BPYPM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.53%	2.23%	+1.30%
Volatility (6M) Calculated over the trailing 6-month period	10.39%	12.89%	-2.50%
Volatility (1Y) Calculated over the trailing 1-year period	17.54%	19.83%	-2.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.40%	24.11%	+0.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.85%	24.11%	+14.74%

Dividends

BPYPN vs. BPYPM - Dividend Comparison

BPYPN's dividend yield for the trailing twelve months is around 10.52%, more than BPYPM's 9.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
BPYPM Brookfield Property Preferred L.P.	9.35%	10.08%	10.15%	12.57%	11.03%	2.54%	0.00%
BPYPN Brookfield Property Partners L.P.	10.52%	10.81%	11.57%	12.51%	10.62%	6.10%	5.82%

Financials

Frequently Asked Questions

Can I hold both BPYPN and BPYPM in my portfolio?

BPYPN and BPYPM have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BPYPN or BPYPM?

BPYPN has higher volatility (3.53%) compared to BPYPM (2.23%). In terms of maximum drawdown, BPYPN dropped -68.71% vs BPYPM's -47.92%.

Which has better risk-adjusted returns?

BPYPM currently has the higher Sharpe Ratio (1.12 vs 1.07), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.