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CPD.TO vs. ENB-PD.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CPD.TO vs. ENB-PD.TO

Last updated Jun 4, 2026

CPD.TO (iShares S&P/TSX Canadian Preferred Share Index ETF) is Preferred Stock/Convertible Bonds fund tracking the S&P/TSX Preferred Share TR, while ENB-PD.TO (Enbridge Inc.) is a stock. Over the past 10 years, CPD.TO returned 6.38%/yr vs 12.12%/yr for ENB-PD.TO. At a 0.50 correlation, their price movements are largely independent.

Performance

CPD.TO vs. ENB-PD.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P/TSX Canadian Preferred Share Index ETF (CPD.TO) and Enbridge Inc. (ENB-PD.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, CPD.TO achieves a 3.57% return, which is significantly lower than ENB-PD.TO's 8.25% return. Over the past 10 years, CPD.TO has underperformed ENB-PD.TO with an annualized return of 6.38%, while ENB-PD.TO has yielded a comparatively higher 12.12% annualized return.

CPD.TO

1D
-0.07%
1M
0.79%
YTD
3.57%
6M
4.38%
1Y
14.16%
3Y*
15.84%
5Y*
5.55%
10Y*
6.38%

ENB-PD.TO

1D
-0.04%
1M
2.40%
YTD
8.25%
6M
12.04%
1Y
25.10%
3Y*
17.66%
5Y*
11.42%
10Y*
12.12%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CPD.TO vs. ENB-PD.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CPD.TO
iShares S&P/TSX Canadian Preferred Share Index ETF		3.57%16.10%23.31%6.23%-19.19%18.85%5.35%3.35%-9.05%13.44%
ENB-PD.TO
Enbridge Inc.		8.25%21.84%24.80%3.12%-7.44%55.01%-6.20%1.97%-10.49%21.15%

Correlation

The correlation between CPD.TO and ENB-PD.TO is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.45

Correlation (3Y)
Calculated over the trailing 3-year period

0.49

Correlation (5Y)
Calculated over the trailing 5-year period

0.47

Correlation (10Y)
Calculated over the trailing 10-year period

0.51

Correlation (All Time)
Calculated using the full available price history since Nov 24, 2011

0.50

The correlation between CPD.TO and ENB-PD.TO has been stable across timeframes, ranging from 0.45 to 0.51 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares S&P/TSX Canadian Preferred Share Index ETF

Enbridge Inc.

Often compared with CPD.TO:
CPD.TO vs. XEI.TOCPD.TO vs. VDY.TOCPD.TO vs. XDIV.TOCPD.TO vs. fie.TOCPD.TO vs. VFV.TOCPD.TO vs. XAW.TOCPD.TO vs. ^GSPC
Often compared with ENB-PD.TO:
ENB-PD.TO vs. CNQENB-PD.TO vs. ENB-PP.TOENB-PD.TO vs. CNQ.TOENB-PD.TO vs. SGR-U.TOENB-PD.TO vs. ETENB-PD.TO vs. XBAL.TOENB-PD.TO vs. UMAX.TO

Return for Risk

CPD.TO vs. ENB-PD.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CPD.TO
CPD.TO Risk / Return Rank: 9393
Overall Rank
CPD.TO Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
CPD.TO Sortino Ratio Rank: 9393
Sortino Ratio Rank
CPD.TO Omega Ratio Rank: 9595
Omega Ratio Rank
CPD.TO Calmar Ratio Rank: 8989
Calmar Ratio Rank
CPD.TO Martin Ratio Rank: 9494
Martin Ratio Rank
ENB-PD.TO
ENB-PD.TO Risk / Return Rank: 9696
Overall Rank
ENB-PD.TO Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
ENB-PD.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
ENB-PD.TO Omega Ratio Rank: 9797
Omega Ratio Rank
ENB-PD.TO Calmar Ratio Rank: 9393
Calmar Ratio Rank
ENB-PD.TO Martin Ratio Rank: 9797
Martin Ratio Rank
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.

CPD.TO vs. ENB-PD.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 Enbridge Inc. (ENB-PD.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.TOENB-PD.TODifference
Sharpe ratioReturn per unit of total volatility
3.45
3.60

-0.15

Sortino ratioReturn per unit of downside risk
4.73
5.41

-0.69

Omega ratioGain probability vs. loss probability

1.76

1.72

+0.04

Calmar ratioReturn relative to maximum drawdown

5.27

6.04

-0.77

Martin ratioReturn relative to average drawdown

26.40

26.24

+0.16

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CPD.TO vs. ENB-PD.TO - Sharpe Ratio Comparison

The current CPD.TO Sharpe Ratio is 3.45, which is comparable to the ENB-PD.TO Sharpe Ratio of 3.60. The chart below compares the historical Sharpe Ratios of CPD.TO and ENB-PD.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.

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Sharpe Ratios by Period

CPD.TOENB-PD.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.45

3.60

-0.15

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.72

0.93

-0.21

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.60

0.71

-0.10

Sharpe Ratio (All Time)

Calculated using the full available price history

0.32

0.33

-0.01

Drawdowns

CPD.TO vs. ENB-PD.TO - Drawdown Comparison

The maximum CPD.TO drawdown since its inception was -40.92%, smaller than the maximum ENB-PD.TO drawdown of -49.63%. Use the drawdown chart below to compare losses from any high point for CPD.TO and ENB-PD.TO.

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Drawdown Indicators

CPD.TOENB-PD.TODifference

Max Drawdown

Largest peak-to-trough decline

-40.92%

-49.63%

+8.71%

Max Drawdown (1Y)

Largest decline over 1 year

-2.70%

-4.17%

+1.47%

Max Drawdown (3Y)

Largest decline over 3 years

-7.65%

-16.56%

+8.91%

Max Drawdown (5Y)

Largest decline over 5 years

-24.12%

-21.95%

-2.17%

Max Drawdown (10Y)

Largest decline over 10 years

-40.92%

-49.63%

+8.71%

Current Drawdown

Current decline from peak

-0.36%

-0.95%

+0.59%

Average Drawdown

Average peak-to-trough decline

-6.70%

-10.36%

+3.66%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.54%

0.96%

-0.42%

Volatility

CPD.TO vs. ENB-PD.TO - Volatility Comparison

The current volatility for iShares S&P/TSX Canadian Preferred Share Index ETF (CPD.TO) is 0.87%, while Enbridge Inc. (ENB-PD.TO) has a volatility of 2.28%. This indicates that CPD.TO experiences smaller price fluctuations and is considered to be less risky than ENB-PD.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.TOENB-PD.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.87%

2.28%

-1.41%

Volatility (6M)

Calculated over the trailing 6-month period

2.79%

4.44%

-1.65%

Volatility (1Y)

Calculated over the trailing 1-year period

4.12%

7.01%

-2.89%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.71%

12.35%

-4.64%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

10.62%

17.23%

-6.61%

Dividends

CPD.TO vs. ENB-PD.TO - Dividend Comparison

CPD.TO's dividend yield for the trailing twelve months is around 5.02%, less than ENB-PD.TO's 5.89% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
ENB-PD.TO
Enbridge Inc.		5.89%6.19%7.05%7.79%6.42%5.60%8.15%7.03%6.50%5.07%5.83%6.19%

Frequently Asked Questions

CPD.TO and ENB-PD.TO have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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