DXP.TO vs. ZHP.TO
DXP.TO (Dynamic Active Preferred Shares ETF) and ZHP.TO (BMO US Preferred Share Hedged to CAD Index ETF) are both Preferred Stock/Convertible Bonds funds. Over the past 5 years, DXP.TO returned 8.14%/yr vs -2.37%/yr for ZHP.TO. At a 0.13 correlation, their price movements are largely independent.
Performance
DXP.TO vs. ZHP.TO - Performance Comparison
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Returns By Period
In the year-to-date period, DXP.TO achieves a 5.77% return, which is significantly higher than ZHP.TO's -0.44% return.
DXP.TO
- 1D
- 0.00%
- 1M
- 1.24%
- 6M
- 5.40%
- YTD
- 5.77%
- 1Y
- 12.83%
- 3Y*
- 18.83%
- 5Y*
- 8.14%
- 10Y*
- —
ZHP.TO
- 1D
- -0.18%
- 1M
- -0.75%
- 6M
- -2.59%
- YTD
- -0.44%
- 1Y
- 1.42%
- 3Y*
- 4.30%
- 5Y*
- -2.37%
- 10Y*
- —
DXP.TO vs. ZHP.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DXP.TO Dynamic Active Preferred Shares ETF | 5.77% | 17.64% | 25.73% | 8.22% | -16.46% | 27.89% | 5.67% | 3.94% | -9.58% | 9.18% |
ZHP.TO BMO US Preferred Share Hedged to CAD Index ETF | -0.44% | -1.34% | 7.03% | 4.43% | -19.49% | 4.62% | 7.83% | 13.82% | -5.84% | 4.23% |
Correlation
The correlation between DXP.TO and ZHP.TO is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Feb 16, 2017 | 0.13 |
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Return for Risk
DXP.TO vs. ZHP.TO — Risk / Return Rank
DXP.TO
ZHP.TO
DXP.TO vs. ZHP.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dynamic Active Preferred Shares ETF (DXP.TO) and BMO US Preferred Share Hedged to CAD Index ETF (ZHP.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.
| DXP.TO | ZHP.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.08 | ||
| Sortino ratioReturn per unit of downside risk | +4.67 | ||
| Omega ratioGain probability vs. loss probability | 1.66 | 1.04 | +0.62 |
| Calmar ratioReturn relative to maximum drawdown | 5.36 | 0.23 | +5.13 |
| Martin ratioReturn relative to average drawdown | 26.60 | 0.43 | +26.17 |
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Drawdowns
DXP.TO vs. ZHP.TO - Drawdown Comparison
The maximum DXP.TO drawdown since its inception was -40.72%, roughly equal to the maximum ZHP.TO drawdown of -41.53%. Use the drawdown chart below to compare losses from any high point for DXP.TO and ZHP.TO.
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Drawdown Indicators
| DXP.TO | ZHP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.72% | -41.53% | +0.81% |
Max Drawdown (1Y)Largest decline over 1 year | -2.40% | -6.26% | +3.86% |
Max Drawdown (3Y)Largest decline over 3 years | -8.30% | -11.80% | +3.50% |
Max Drawdown (5Y)Largest decline over 5 years | -20.11% | -30.45% | +10.34% |
Current DrawdownCurrent decline from peak | 0.00% | -13.02% | +13.02% |
Average DrawdownAverage peak-to-trough decline | -6.57% | -8.67% | +2.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 3.33% | -2.85% |
Volatility
DXP.TO vs. ZHP.TO - Volatility Comparison
The current volatility for Dynamic Active Preferred Shares ETF (DXP.TO) is 0.70%, while BMO US Preferred Share Hedged to CAD Index ETF (ZHP.TO) has a volatility of 2.85%. This indicates that DXP.TO experiences smaller price fluctuations and is considered to be less risky than ZHP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DXP.TO | ZHP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.70% | 2.85% | -2.15% |
Volatility (6M)Calculated over the trailing 6-month period | 2.42% | 5.29% | -2.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.91% | 6.72% | -2.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.27% | 12.65% | -3.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.18% | 15.92% | -3.74% |
Dividends
DXP.TO vs. ZHP.TO - Dividend Comparison
DXP.TO's dividend yield for the trailing twelve months is around 4.37%, less than ZHP.TO's 6.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DXP.TO Dynamic Active Preferred Shares ETF | 4.37% | 4.52% | 5.05% | 5.31% | 4.58% | 3.67% | 4.51% | 4.53% | 4.50% | 3.36% |
ZHP.TO BMO US Preferred Share Hedged to CAD Index ETF | 6.18% | 6.46% | 6.29% | 7.14% | 6.93% | 5.41% | 5.61% | 5.39% | 5.61% | 4.60% |
Frequently Asked Questions
DXP.TO and ZHP.TO have a correlation of 0.14, 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: Dynamic and BMO.
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