CAR-UN.TO vs. TPRF.TO

Last updated Jun 5, 2026

CAR-UN.TO (Canadian Apartment Properties Real Estate Investment Trust) is a stock, while TPRF.TO (TD Active Preferred Share ETF) is Preferred Stock/Convertible Bonds fund actively managed by TD. Over the past 5 years, CAR-UN.TO returned -5.53%/yr vs 10.07%/yr for TPRF.TO. At a 0.19 correlation, their price movements are largely independent.

Performance

CAR-UN.TO vs. TPRF.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 TD Active Preferred Share ETF (TPRF.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CAR-UN.TO achieves a -5.50% return, which is significantly lower than TPRF.TO's 5.16% return.

CAR-UN.TO

• 1D: 0.35%
• 1M: -5.98%
• YTD: -5.50%
• 6M: -5.29%
• 1Y: -19.33%
• 3Y*: -7.51%
• 5Y*: -5.53%
• 10Y*: 4.79%

TPRF.TO

• 1D: 0.08%
• 1M: 1.09%
• YTD: 5.16%
• 6M: 6.46%
• 1Y: 17.31%
• 3Y*: 19.65%
• 5Y*: 10.07%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
CAR-UN.TO Canadian Apartment Properties Real Estate Investment Trust	-5.50%	-10.17%	-6.48%	19.26%	-26.56%	22.96%	-2.97%	22.93%	-5.24%
TPRF.TO TD Active Preferred Share ETF	5.16%	18.21%	28.68%	5.53%	-11.31%	37.88%	11.44%	17.78%	-13.58%

Correlation

The correlation between CAR-UN.TO and TPRF.TO is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (All Time) Calculated using the full available price history since Nov 15, 2018	0.19

Return for Risk

CAR-UN.TO vs. TPRF.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: 8
CAR-UN.TO Sharpe Ratio Rank: 3
CAR-UN.TO Sortino Ratio Rank: 6
CAR-UN.TO Omega Ratio Rank: 8
CAR-UN.TO Calmar Ratio Rank: 13
CAR-UN.TO Martin Ratio Rank: 11

TPRF.TO

TPRF.TO Risk / Return Rank: 96
TPRF.TO Sharpe Ratio Rank: 96
TPRF.TO Sortino Ratio Rank: 97
TPRF.TO Omega Ratio Rank: 97
TPRF.TO Calmar Ratio Rank: 94
TPRF.TO Martin Ratio Rank: 96

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. TPRF.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 TD Active Preferred Share ETF (TPRF.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	TPRF.TO	Difference
Sharpe ratio: Return per unit of total volatility	-1.12	4.20	-5.32
Sortino ratio: Return per unit of downside risk	-1.50	6.16	-7.66
Omega ratio: Gain probability vs. loss probability	0.83	1.91	-1.08
Calmar ratio: Return relative to maximum drawdown	-0.77	6.98	-7.75
Martin ratio: Return relative to average drawdown	-1.31	38.78	-40.09
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. TPRF.TO - Sharpe Ratio Comparison

The current CAR-UN.TO Sharpe Ratio is -1.12, which is lower than the TPRF.TO Sharpe Ratio of 4.20. The chart below compares the historical Sharpe Ratios of CAR-UN.TO and TPRF.TO, 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

	CAR-UN.TO	TPRF.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.12	4.20	-5.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.26	1.05	-1.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.23	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	0.78	-0.65

Drawdowns

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

The maximum CAR-UN.TO drawdown since its inception was -41.12%, roughly equal to the maximum TPRF.TO drawdown of -43.12%. Use the drawdown chart below to compare losses from any high point for CAR-UN.TO and TPRF.TO.

Drawdown Indicators

	CAR-UN.TO	TPRF.TO	Difference
Max Drawdown Largest peak-to-trough decline	-41.12%	-43.12%	+2.00%
Max Drawdown (1Y) Largest decline over 1 year	-25.08%	-2.49%	-22.59%
Max Drawdown (3Y) Largest decline over 3 years	-34.90%	-8.39%	-26.51%
Max Drawdown (5Y) Largest decline over 5 years	-34.95%	-20.45%	-14.50%
Max Drawdown (10Y) Largest decline over 10 years	-38.20%	—	—
Current Drawdown Current decline from peak	-32.96%	-0.31%	-32.65%
Average Drawdown Average peak-to-trough decline	-9.24%	-5.87%	-3.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.80%	0.45%	+14.35%

Volatility

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

Canadian Apartment Properties Real Estate Investment Trust (CAR-UN.TO) has a higher volatility of 6.82% compared to TD Active Preferred Share ETF (TPRF.TO) at 1.18%. This indicates that CAR-UN.TO's price experiences larger fluctuations and is considered to be riskier than TPRF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CAR-UN.TO	TPRF.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.82%	1.18%	+5.64%
Volatility (6M) Calculated over the trailing 6-month period	12.81%	2.66%	+10.15%
Volatility (1Y) Calculated over the trailing 1-year period	17.29%	4.14%	+13.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.16%	9.67%	+11.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.06%	15.41%	+5.65%

Dividends

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

CAR-UN.TO's dividend yield for the trailing twelve months is around 4.53%, which matches TPRF.TO's 4.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CAR-UN.TO Canadian Apartment Properties Real Estate Investment Trust	4.53%	4.19%	7.00%	4.12%	3.40%	2.35%	2.76%	2.59%	2.96%	3.42%	3.95%	4.50%
TPRF.TO TD Active Preferred Share ETF	4.50%	4.36%	4.56%	5.74%	10.25%	8.28%	10.46%	9.90%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CAR-UN.TO and TPRF.TO in my portfolio?

CAR-UN.TO and TPRF.TO have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.