CPD.TO vs. HLPR.TO
CPD.TO (iShares S&P/TSX Canadian Preferred Share Index ETF) and HLPR.TO (Global X Laddered Canadian Preferred Share Index Corporate Class ETF) are both Preferred Stock/Convertible Bonds funds - CPD.TO tracks the S&P/TSX Preferred Share TR while HLPR.TO tracks the Solactive Laddered Canadian Preferred Share Index. Both are passively managed. Over the past 5 years, CPD.TO returned 5.55%/yr vs 7.17%/yr for HLPR.TO. A 0.68 correlation means they provide meaningful diversification when combined. CPD.TO charges 0.50%/yr vs 0.30%/yr for HLPR.TO.
Performance
CPD.TO vs. HLPR.TO - Performance Comparison
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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 HLPR.TO's 6.39% 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%
HLPR.TO
- 1D
- -0.22%
- 1M
- 1.09%
- YTD
- 6.39%
- 6M
- 7.65%
- 1Y
- 19.36%
- 3Y*
- 19.73%
- 5Y*
- 7.17%
- 10Y*
- —
CPD.TO vs. HLPR.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
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% | 2.17% |
HLPR.TO Global X Laddered Canadian Preferred Share Index Corporate Class ETF | 6.39% | 18.79% | 28.13% | 2.89% | -17.83% | 23.17% | 6.42% | 0.80% |
Correlation
The correlation between CPD.TO and HLPR.TO is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2019 | 0.68 |
The correlation between CPD.TO and HLPR.TO shifts across timeframes, from 0.52 (1 year) to 0.68 (all time), reflecting how their relationship changes across market environments.
CPD.TO vs. HLPR.TO - Sectors Allocation Comparison
Sectors
CPD.TO
HLPR.TO
Financial Services
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Consumer Defensive
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Basic Materials
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Communication Services
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Consumer Cyclical
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Energy
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Healthcare
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Industrials
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Real Estate
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Technology
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Utilities
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Financial Services
CPD.TO
HLPR.TO
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Consumer Defensive
CPD.TO
HLPR.TO
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Basic Materials
CPD.TO
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HLPR.TO
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Communication Services
CPD.TO
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HLPR.TO
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Consumer Cyclical
CPD.TO
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HLPR.TO
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Energy
CPD.TO
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HLPR.TO
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Healthcare
CPD.TO
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HLPR.TO
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Industrials
CPD.TO
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HLPR.TO
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Real Estate
CPD.TO
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HLPR.TO
Technology
CPD.TO
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HLPR.TO
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Utilities
CPD.TO
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HLPR.TO
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Return for Risk
CPD.TO vs. HLPR.TO — Risk / Return Rank
CPD.TO
HLPR.TO
CPD.TO vs. HLPR.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 Global X Laddered Canadian Preferred Share Index Corporate Class ETF (HLPR.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 | HLPR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.98 | ||
| Sortino ratioReturn per unit of downside risk | -1.71 | ||
| Omega ratioGain probability vs. loss probability | 1.76 | 2.03 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 5.27 | 7.82 | -2.55 |
| Martin ratioReturn relative to average drawdown | 26.40 | 46.33 | -19.93 |
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 | HLPR.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.45 | 4.43 | -0.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.72 | 0.87 | -0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.60 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 0.65 | -0.33 |
Drawdowns
CPD.TO vs. HLPR.TO - Drawdown Comparison
The maximum CPD.TO drawdown since its inception was -40.92%, which is greater than HLPR.TO's maximum drawdown of -38.96%. Use the drawdown chart below to compare losses from any high point for CPD.TO and HLPR.TO.
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Drawdown Indicators
| CPD.TO | HLPR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.92% | -38.96% | -1.96% |
Max Drawdown (1Y)Largest decline over 1 year | -2.70% | -2.49% | -0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -7.65% | -10.09% | +2.44% |
Max Drawdown (5Y)Largest decline over 5 years | -24.12% | -26.79% | +2.67% |
Max Drawdown (10Y)Largest decline over 10 years | -40.92% | — | — |
Current DrawdownCurrent decline from peak | -0.36% | -0.36% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -6.70% | -6.58% | -0.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.54% | 0.42% | +0.12% |
Volatility
CPD.TO vs. HLPR.TO - Volatility Comparison
The current volatility for iShares S&P/TSX Canadian Preferred Share Index ETF (CPD.TO) is 0.87%, while Global X Laddered Canadian Preferred Share Index Corporate Class ETF (HLPR.TO) has a volatility of 1.04%. This indicates that CPD.TO experiences smaller price fluctuations and is considered to be less risky than HLPR.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 | HLPR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.87% | 1.04% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 2.79% | 2.71% | +0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.12% | 4.39% | -0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.71% | 8.32% | -0.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.62% | 13.08% | -2.46% |
CPD.TO vs. HLPR.TO - Expense Ratio Comparison
CPD.TO has a 0.50% expense ratio, which is higher than HLPR.TO's 0.30% expense ratio.
Dividends
CPD.TO vs. HLPR.TO - Dividend Comparison
CPD.TO's dividend yield for the trailing twelve months is around 5.02%, while HLPR.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
HLPR.TO Global X Laddered Canadian Preferred Share Index Corporate Class ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CPD.TO and HLPR.TO have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HLPR.TO is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HLPR.TO is cheaper with a 0.30% expense ratio, compared with 0.50% for CPD.TO.
CPD.TO tracks S&P/TSX Preferred Share TR, while HLPR.TO tracks Solactive Laddered Canadian Preferred Share Index. They also come from different issuers: iShares and Global X. Their fees differ too: 0.50% for CPD.TO and 0.30% for HLPR.TO.
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