CPD.TO vs. CMR.TO
CPD.TO (iShares S&P/TSX Canadian Preferred Share Index ETF) and CMR.TO (iShares Premium Money Market ETF) are both exchange-traded funds - CPD.TO is a Preferred Stock/Convertible Bonds fund tracking the S&P/TSX Preferred Share TR, while CMR.TO is a Money Market fund actively managed by iShares. CPD.TO is passively managed, while CMR.TO is actively managed. Over the past 10 years, CPD.TO returned 6.35%/yr vs 1.89%/yr for CMR.TO. At a correlation of -0.00, they often move in opposite directions. CPD.TO charges 0.50%/yr vs 0.14%/yr for CMR.TO.
Performance
CPD.TO vs. CMR.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CPD.TO achieves a 3.65% return, which is significantly higher than CMR.TO's 0.99% return. Over the past 10 years, CPD.TO has outperformed CMR.TO with an annualized return of 6.35%, while CMR.TO has yielded a comparatively lower 1.89% annualized return.
CPD.TO
- 1D
- 0.07%
- 1M
- 0.65%
- YTD
- 3.65%
- 6M
- 4.61%
- 1Y
- 13.97%
- 3Y*
- 15.91%
- 5Y*
- 5.57%
- 10Y*
- 6.35%
CMR.TO
- 1D
- 0.02%
- 1M
- 0.19%
- YTD
- 0.99%
- 6M
- 1.05%
- 1Y
- 2.39%
- 3Y*
- 3.73%
- 5Y*
- 2.94%
- 10Y*
- 1.89%
CPD.TO vs. CMR.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CPD.TO iShares S&P/TSX Canadian Preferred Share Index ETF | 3.65% | 16.10% | 23.31% | 6.23% | -19.19% | 18.85% | 5.35% | 3.35% | -9.05% | 13.44% |
CMR.TO iShares Premium Money Market ETF | 0.99% | 2.68% | 4.70% | 4.70% | 1.71% | 0.00% | 0.47% | 1.63% | 1.29% | 0.63% |
Correlation
The correlation between CPD.TO and CMR.TO is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.00 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2008 | -0.00 |
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Return for Risk
CPD.TO vs. CMR.TO — Risk / Return Rank
CPD.TO
CMR.TO
CPD.TO vs. CMR.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Canadian Preferred Share Index ETF (CPD.TO) and iShares Premium Money Market ETF (CMR.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.
| CPD.TO | CMR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -7.29 | ||
| Sortino ratioReturn per unit of downside risk | -16.64 | ||
| Omega ratioGain probability vs. loss probability | 1.75 | 9.64 | -7.89 |
| Calmar ratioReturn relative to maximum drawdown | 5.20 | 25.66 | -20.45 |
| Martin ratioReturn relative to average drawdown | 26.05 | 188.94 | -162.90 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CPD.TO | CMR.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.41 | 10.70 | -7.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 10.68 | -9.96 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.60 | 7.03 | -6.42 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 3.84 | -3.52 |
Drawdowns
CPD.TO vs. CMR.TO - Drawdown Comparison
The maximum CPD.TO drawdown since its inception was -40.92%, which is greater than CMR.TO's maximum drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for CPD.TO and CMR.TO.
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Drawdown Indicators
| CPD.TO | CMR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.92% | -0.52% | -40.40% |
Max Drawdown (1Y)Largest decline over 1 year | -2.70% | -0.09% | -2.61% |
Max Drawdown (3Y)Largest decline over 3 years | -7.65% | -0.09% | -7.56% |
Max Drawdown (5Y)Largest decline over 5 years | -24.12% | -0.09% | -24.03% |
Max Drawdown (10Y)Largest decline over 10 years | -40.92% | -0.14% | -40.78% |
Current DrawdownCurrent decline from peak | -0.28% | 0.00% | -0.28% |
Average DrawdownAverage peak-to-trough decline | -6.70% | -0.01% | -6.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.54% | 0.01% | +0.53% |
Volatility
CPD.TO vs. CMR.TO - Volatility Comparison
iShares S&P/TSX Canadian Preferred Share Index ETF (CPD.TO) has a higher volatility of 0.85% compared to iShares Premium Money Market ETF (CMR.TO) at 0.05%. This indicates that CPD.TO's price experiences larger fluctuations and is considered to be riskier than CMR.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CPD.TO | CMR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.85% | 0.05% | +0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 2.76% | 0.18% | +2.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.12% | 0.22% | +3.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.71% | 0.28% | +7.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.62% | 0.27% | +10.35% |
CPD.TO vs. CMR.TO - Expense Ratio Comparison
CPD.TO has a 0.50% expense ratio, which is higher than CMR.TO's 0.14% expense ratio.
Dividends
CPD.TO vs. CMR.TO - Dividend Comparison
CPD.TO's dividend yield for the trailing twelve months is around 5.02%, more than CMR.TO's 2.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMR.TO iShares Premium Money Market ETF | 2.48% | 2.81% | 4.56% | 4.64% | 1.62% | 0.00% | 0.47% | 1.60% | 1.33% | 0.61% | 0.43% | 0.48% |
CPD.TO iShares S&P/TSX Canadian Preferred Share Index ETF | 5.02% | 4.96% | 5.11% | 5.88% | 5.53% | 4.17% | 4.96% | 5.02% | 4.74% | 4.33% | 4.85% | 5.44% |
Frequently Asked Questions
CPD.TO and CMR.TO have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CMR.TO is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CMR.TO is cheaper with a 0.14% expense ratio, compared with 0.50% for CPD.TO.
CPD.TO is categorized as Preferred Stock/Convertible Bonds, while CMR.TO is Money Market. Their fees differ too: 0.50% for CPD.TO and 0.14% for CMR.TO.
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