CYH.TO vs. ZPR.TO
CYH.TO (iShares Global Monthly Dividend Index ETF (CAD-Hedged)) and ZPR.TO (BMO Laddered Preferred Share Index ETF) are both exchange-traded funds - CYH.TO is a Global Equities fund tracking the Morningstar Gbl GR CAD, while ZPR.TO is a Preferred Stock/Convertible Bonds fund tracking the Solactive Laddered Canadian Preferred Share Index. Both are passively managed. Over the past 10 years, CYH.TO returned 7.60%/yr vs 8.40%/yr for ZPR.TO. At a 0.25 correlation, their price movements are largely independent. CYH.TO charges 0.66%/yr vs 0.45%/yr for ZPR.TO.
Performance
CYH.TO vs. ZPR.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CYH.TO achieves a 13.17% return, which is significantly higher than ZPR.TO's 8.50% return. Over the past 10 years, CYH.TO has underperformed ZPR.TO with an annualized return of 7.60%, while ZPR.TO has yielded a comparatively higher 8.40% annualized return.
CYH.TO
- 1D
- 0.18%
- 1M
- 2.99%
- 6M
- 9.42%
- YTD
- 13.17%
- 1Y
- 21.75%
- 3Y*
- 16.85%
- 5Y*
- 9.95%
- 10Y*
- 7.60%
ZPR.TO
- 1D
- 0.39%
- 1M
- 2.09%
- 6M
- 7.62%
- YTD
- 8.50%
- 1Y
- 16.77%
- 3Y*
- 20.12%
- 5Y*
- 8.41%
- 10Y*
- 8.40%
CYH.TO vs. ZPR.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CYH.TO iShares Global Monthly Dividend Index ETF (CAD-Hedged) | 13.17% | 18.78% | 12.28% | 3.85% | -2.46% | 23.39% | -8.70% | 9.23% | -6.21% | 13.17% |
ZPR.TO BMO Laddered Preferred Share Index ETF | 8.50% | 18.58% | 26.58% | 7.21% | -17.66% | 23.77% | 6.00% | 1.94% | -9.77% | 14.71% |
Correlation
The correlation between CYH.TO and ZPR.TO is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2012 | 0.25 |
The correlation between CYH.TO and ZPR.TO shifts across timeframes, from 0.13 (1 year) to 0.29 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
CYH.TO vs. ZPR.TO — Risk / Return Rank
CYH.TO
ZPR.TO
CYH.TO vs. ZPR.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Monthly Dividend Index ETF (CAD-Hedged) (CYH.TO) and BMO Laddered Preferred Share Index ETF (ZPR.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.
| CYH.TO | ZPR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.76 | ||
| Sortino ratioReturn per unit of downside risk | -2.85 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.81 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | 4.13 | 6.83 | -2.70 |
| Martin ratioReturn relative to average drawdown | 15.00 | 38.94 | -23.94 |
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Drawdowns
CYH.TO vs. ZPR.TO - Drawdown Comparison
The maximum CYH.TO drawdown since its inception was -61.50%, which is greater than ZPR.TO's maximum drawdown of -44.72%. Use the drawdown chart below to compare losses from any high point for CYH.TO and ZPR.TO.
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Drawdown Indicators
| CYH.TO | ZPR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.50% | -44.72% | -16.78% |
Max Drawdown (1Y)Largest decline over 1 year | -5.34% | -2.47% | -2.87% |
Max Drawdown (3Y)Largest decline over 3 years | -12.12% | -8.75% | -3.37% |
Max Drawdown (5Y)Largest decline over 5 years | -17.65% | -23.06% | +5.41% |
Max Drawdown (10Y)Largest decline over 10 years | -44.90% | -44.13% | -0.77% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -10.15% | -9.20% | -0.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.46% | 0.43% | +1.03% |
Volatility
CYH.TO vs. ZPR.TO - Volatility Comparison
iShares Global Monthly Dividend Index ETF (CAD-Hedged) (CYH.TO) has a higher volatility of 3.37% compared to BMO Laddered Preferred Share Index ETF (ZPR.TO) at 0.94%. This indicates that CYH.TO's price experiences larger fluctuations and is considered to be riskier than ZPR.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CYH.TO | ZPR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.37% | 0.94% | +2.43% |
Volatility (6M)Calculated over the trailing 6-month period | 7.67% | 2.71% | +4.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.27% | 4.31% | +5.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.42% | 8.32% | +5.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.12% | 11.42% | +5.70% |
CYH.TO vs. ZPR.TO - Expense Ratio Comparison
CYH.TO has a 0.66% expense ratio, which is higher than ZPR.TO's 0.45% expense ratio.
Dividends
CYH.TO vs. ZPR.TO - Dividend Comparison
CYH.TO's dividend yield for the trailing twelve months is around 3.23%, less than ZPR.TO's 5.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CYH.TO iShares Global Monthly Dividend Index ETF (CAD-Hedged) | 3.23% | 3.77% | 4.33% | 4.68% | 4.72% | 3.89% | 4.51% | 4.18% | 3.98% | 3.03% | 3.39% | 3.84% |
ZPR.TO BMO Laddered Preferred Share Index ETF | 5.03% | 4.86% | 4.93% | 5.92% | 5.97% | 4.66% | 5.48% | 5.09% | 4.82% | 4.08% | 5.14% | 5.65% |
Frequently Asked Questions
CYH.TO and ZPR.TO have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZPR.TO is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZPR.TO is cheaper with a 0.45% expense ratio, compared with 0.66% for CYH.TO.
CYH.TO is categorized as Global Equities, while ZPR.TO is Preferred Stock/Convertible Bonds. CYH.TO tracks Morningstar Gbl GR CAD, while ZPR.TO tracks Solactive Laddered Canadian Preferred Share Index. They also come from different issuers: iShares and BMO. Their fees differ too: 0.66% for CYH.TO and 0.45% for ZPR.TO.
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