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CPD.TO vs. PR.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CPD.TO vs. PR.TO

Last updated Jul 17, 2026
Documentation

CPD.TO (iShares S&P/TSX Canadian Preferred Share Index ETF) and PR.TO (Lysander-Slater Preferred Share ActivETF) are both Preferred Stock/Convertible Bonds funds. CPD.TO is passively managed, while PR.TO is actively managed. Over the past 10 years, CPD.TO returned 6.53%/yr vs 6.03%/yr for PR.TO. At a 0.40 correlation, their price movements are largely independent.

Performance

CPD.TO vs. PR.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 Lysander-Slater Preferred Share ActivETF (PR.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 5.58% return, which is significantly higher than PR.TO's 3.48% return. Over the past 10 years, CPD.TO has outperformed PR.TO with an annualized return of 6.53%, while PR.TO has yielded a comparatively lower 6.03% annualized return.

CPD.TO

1D
0.00%
1M
1.58%
6M
5.50%
YTD
5.58%
1Y
12.21%
3Y*
16.73%
5Y*
6.16%
10Y*
6.53%

PR.TO

1D
0.19%
1M
1.18%
6M
3.58%
YTD
3.48%
1Y
8.73%
3Y*
14.86%
5Y*
5.40%
10Y*
6.03%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CPD.TO vs. PR.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CPD.TO
iShares S&P/TSX Canadian Preferred Share Index ETF		5.58%16.10%23.31%6.23%-19.19%18.85%5.35%3.35%-9.05%13.44%
PR.TO
Lysander-Slater Preferred Share ActivETF		3.48%11.10%24.22%7.90%-18.17%28.22%-0.17%1.64%-10.79%12.24%

Correlation

The correlation between CPD.TO and PR.TO is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.20

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

0.32

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

0.35

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

0.41

Correlation (All Time)
Calculated using the full available price history since Aug 18, 2015

0.40

The correlation between CPD.TO and PR.TO shifts across timeframes, from 0.20 (1 year) to 0.41 (10 years), reflecting how their relationship changes across market environments.

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

Lysander-Slater Preferred Share ActivETF

Often compared with CPD.TO:
CPD.TO vs. XEI.TOCPD.TO vs. VDY.TOCPD.TO vs. XDIV.TOCPD.TO vs. ZPR.TOCPD.TO vs. VFV.TOCPD.TO vs. fie.TOCPD.TO vs. XAW.TO
Often compared with PR.TO:
PR.TO vs. PREF.TOPR.TO vs. DCP.TOPR.TO vs. HYBR.TOPR.TO vs. ZPR.TOPR.TO vs. BEPR.TOPR.TO vs. BPRF.TOPR.TO vs. DXP.TO

Return for Risk

CPD.TO vs. PR.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: 9494
Overall Rank
CPD.TO Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
CPD.TO Sortino Ratio Rank: 9494
Sortino Ratio Rank
CPD.TO Omega Ratio Rank: 9595
Omega Ratio Rank
CPD.TO Calmar Ratio Rank: 9191
Calmar Ratio Rank
CPD.TO Martin Ratio Rank: 9595
Martin Ratio Rank
PR.TO
PR.TO Risk / Return Rank: 9292
Overall Rank
PR.TO Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
PR.TO Sortino Ratio Rank: 9191
Sortino Ratio Rank
PR.TO Omega Ratio Rank: 9191
Omega Ratio Rank
PR.TO Calmar Ratio Rank: 9595
Calmar Ratio Rank
PR.TO Martin Ratio Rank: 9595
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. PR.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 Lysander-Slater Preferred Share ActivETF (PR.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

CPD.TOPR.TODifference
Sharpe ratioReturn per unit of total volatility
2.96
2.29

+0.68

Sortino ratioReturn per unit of downside risk
4.04
3.54

+0.50

Omega ratioGain probability vs. loss probability

1.62

1.47

+0.16

Calmar ratioReturn relative to maximum drawdown

4.55

6.09

-1.54

Martin ratioReturn relative to average drawdown

22.64

22.13

+0.50

CPD.TO vs. PR.TO - Sharpe Ratio Comparison

The current CPD.TO Sharpe Ratio is 2.96, which is comparable to the PR.TO Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of CPD.TO and PR.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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Drawdowns

CPD.TO vs. PR.TO - Drawdown Comparison

The maximum CPD.TO drawdown since its inception was -40.92%, smaller than the maximum PR.TO drawdown of -45.17%. Use the drawdown chart below to compare losses from any high point for CPD.TO and PR.TO.

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Drawdown Indicators

CPD.TOPR.TODifference

Max Drawdown

Largest peak-to-trough decline

-40.92%

-45.17%

+4.25%

Max Drawdown (1Y)

Largest decline over 1 year

-2.70%

-1.44%

-1.26%

Max Drawdown (3Y)

Largest decline over 3 years

-7.65%

-4.62%

-3.03%

Max Drawdown (5Y)

Largest decline over 5 years

-24.12%

-21.39%

-2.73%

Max Drawdown (10Y)

Largest decline over 10 years

-40.92%

-45.17%

+4.25%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-6.71%

-7.18%

+0.47%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.54%

0.40%

+0.14%

Volatility

CPD.TO vs. PR.TO - Volatility Comparison

iShares S&P/TSX Canadian Preferred Share Index ETF (CPD.TO) and Lysander-Slater Preferred Share ActivETF (PR.TO) have volatilities of 0.76% and 0.78%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CPD.TOPR.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.76%

0.78%

-0.02%

Volatility (6M)

Calculated over the trailing 6-month period

2.71%

2.67%

+0.04%

Volatility (1Y)

Calculated over the trailing 1-year period

4.14%

3.83%

+0.31%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.70%

8.58%

-0.88%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

10.57%

11.52%

-0.95%

Dividends

CPD.TO vs. PR.TO - Dividend Comparison

CPD.TO's dividend yield for the trailing twelve months is around 4.97%, which matches PR.TO's 5.00% yield.

PositionTTM20252024202320222021202020192018201720162015
CPD.TO
iShares S&P/TSX Canadian Preferred Share Index ETF		4.97%4.96%5.11%5.88%5.53%4.17%4.96%5.02%4.74%4.33%4.85%5.44%
PR.TO
Lysander-Slater Preferred Share ActivETF		5.00%4.85%4.49%4.80%4.71%3.85%4.79%4.69%4.97%6.73%3.68%1.17%

Frequently Asked Questions

CPD.TO and PR.TO have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

They also come from different issuers: iShares and Lysander.

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