DCP.TO vs. CPD.TO
DCP.TO (Desjardins Canadian Preferred Share Index ETF) and CPD.TO (iShares S&P/TSX Canadian Preferred Share Index ETF) are both Preferred Stock/Convertible Bonds funds. DCP.TO is actively managed, while CPD.TO is passively managed. Over the past 5 years, DCP.TO returned 7.66%/yr vs 6.16%/yr for CPD.TO. At a 0.28 correlation, their price movements are largely independent.
Performance
DCP.TO vs. CPD.TO - Performance Comparison
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Returns By Period
In the year-to-date period, DCP.TO achieves a 6.13% return, which is significantly higher than CPD.TO's 5.58% return.
DCP.TO
- 1D
- 0.31%
- 1M
- 1.88%
- 6M
- 5.93%
- YTD
- 6.13%
- 1Y
- 13.62%
- 3Y*
- 18.72%
- 5Y*
- 7.66%
- 10Y*
- —
CPD.TO
- 1D
- 0.21%
- 1M
- 1.87%
- 6M
- 5.28%
- YTD
- 5.58%
- 1Y
- 12.30%
- 3Y*
- 16.87%
- 5Y*
- 6.16%
- 10Y*
- 6.54%
DCP.TO vs. CPD.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DCP.TO Desjardins Canadian Preferred Share Index ETF | 6.13% | 15.46% | 29.54% | 6.53% | -17.25% | 22.18% | 5.96% | 5.26% | -12.81% | 5.94% |
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% | 5.42% |
Correlation
The correlation between DCP.TO and CPD.TO is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2017 | 0.28 |
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Return for Risk
DCP.TO vs. CPD.TO — Risk / Return Rank
DCP.TO
CPD.TO
DCP.TO vs. CPD.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Desjardins Canadian Preferred Share Index ETF (DCP.TO) and iShares S&P/TSX Canadian Preferred Share Index ETF (CPD.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.
| DCP.TO | CPD.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.62 | ||
| Sortino ratioReturn per unit of downside risk | -0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.63 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 5.27 | 4.58 | +0.69 |
| Martin ratioReturn relative to average drawdown | 18.51 | 22.79 | -4.28 |
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Drawdowns
DCP.TO vs. CPD.TO - Drawdown Comparison
The maximum DCP.TO drawdown since its inception was -43.09%, which is greater than CPD.TO's maximum drawdown of -40.92%. Use the drawdown chart below to compare losses from any high point for DCP.TO and CPD.TO.
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Drawdown Indicators
| DCP.TO | CPD.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.09% | -40.92% | -2.17% |
Max Drawdown (1Y)Largest decline over 1 year | -2.60% | -2.70% | +0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -8.89% | -7.65% | -1.24% |
Max Drawdown (5Y)Largest decline over 5 years | -22.68% | -24.12% | +1.44% |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.92% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -6.86% | -6.72% | -0.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.74% | 0.54% | +0.20% |
Volatility
DCP.TO vs. CPD.TO - Volatility Comparison
Desjardins Canadian Preferred Share Index ETF (DCP.TO) has a higher volatility of 1.38% compared to iShares S&P/TSX Canadian Preferred Share Index ETF (CPD.TO) at 0.78%. This indicates that DCP.TO's price experiences larger fluctuations and is considered to be riskier than CPD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DCP.TO | CPD.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.38% | 0.78% | +0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 3.42% | 2.72% | +0.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.78% | 4.14% | +1.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.11% | 7.70% | +2.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.48% | 10.58% | +1.90% |
Dividends
DCP.TO vs. CPD.TO - Dividend Comparison
DCP.TO's dividend yield for the trailing twelve months is around 4.82%, less than CPD.TO's 4.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
DCP.TO Desjardins Canadian Preferred Share Index ETF | 4.82% | 4.66% | 4.63% | 4.98% | 5.25% | 4.15% | 4.90% | 5.08% | 5.16% | 3.02% | 0.00% | 0.00% |
Frequently Asked Questions
DCP.TO and CPD.TO have a correlation of 0.22, 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: Desjardins and iShares.
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