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

Last updated Apr 2, 2026

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

Performance

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

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
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%

Fundamentals

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

Returns By Period

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

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%

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%

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

Return for Risk

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

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

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

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

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.

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

This table presents a comparison of risk-adjusted performance metrics for Canadian Apartment Properties Real Estate Investment Trust (CAR-UN.TO) and Allied Properties Real Estate Investment Trust (AP-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.

	CAR-UN.TO	AP-UN.TO	Difference
Sharpe ratio Return per unit of total volatility	-0.63	-0.92	+0.29
Sortino ratio Return per unit of downside risk	-0.78	-1.02	+0.23
Omega ratio Gain probability vs. loss probability	0.91	0.80	+0.10
Calmar ratio Return relative to maximum drawdown	-0.61	-0.66	+0.05
Martin ratio Return relative to average drawdown	-1.06	-1.31	+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.

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

The current CAR-UN.TO Sharpe Ratio is -0.63, which is higher than the AP-UN.TO Sharpe Ratio of -0.92. The chart below compares the historical Sharpe Ratios of CAR-UN.TO and AP-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

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

Correlation

The correlation between CAR-UN.TO and AP-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

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

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

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
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%

Drawdowns

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

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

Drawdown Indicators

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

Volatility

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

The current volatility for Canadian Apartment Properties Real Estate Investment Trust (CAR-UN.TO) is 4.49%, while Allied Properties Real Estate Investment Trust (AP-UN.TO) has a volatility of 5.74%. This indicates that CAR-UN.TO experiences smaller price fluctuations and is considered to be less risky than AP-UN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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

Financials