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

ETHY.TO vs. CPD.TO

Last updated Jul 15, 2026
Documentation

ETHY.TO (Purpose Ether Yield ETF - ETF Units) and CPD.TO (iShares S&P/TSX Canadian Preferred Share Index ETF) are both exchange-traded funds - ETHY.TO is a Cryptocurrency fund actively managed by Purpose Investments, while CPD.TO is a Preferred Stock/Convertible Bonds fund tracking the S&P/TSX Preferred Share TR. ETHY.TO is actively managed, while CPD.TO is passively managed. Over the past 3 years, ETHY.TO returned -8.05%/yr vs 16.79%/yr for CPD.TO. At a 0.16 correlation, their price movements are largely independent.

Performance

ETHY.TO vs. CPD.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Purpose Ether Yield ETF - ETF Units (ETHY.TO) and iShares S&P/TSX Canadian Preferred Share Index ETF (CPD.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, ETHY.TO achieves a -44.43% return, which is significantly lower than CPD.TO's 5.36% return.

ETHY.TO

1D
5.04%
1M
15.84%
6M
-48.08%
YTD
-44.43%
1Y
-44.79%
3Y*
-8.05%
5Y*
—
10Y*
—

CPD.TO

1D
0.00%
1M
1.72%
6M
5.21%
YTD
5.36%
1Y
12.23%
3Y*
16.79%
5Y*
6.12%
10Y*
6.51%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)20252024202320222021
ETHY.TO
Purpose Ether Yield ETF - ETF Units		-44.43%-16.24%40.99%70.87%-67.53%-19.45%
CPD.TO
iShares S&P/TSX Canadian Preferred Share Index ETF		5.36%16.10%23.31%6.23%-19.19%1.58%

Correlation

The correlation between ETHY.TO and CPD.TO is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.19

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

0.14

Correlation (All Time)
Calculated using the full available price history since Dec 2, 2021

0.16

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Purpose Ether Yield ETF - ETF Units

iShares S&P/TSX Canadian Preferred Share Index ETF

Often compared with ETHY.TO:
ETHY.TO vs. ETC.TOETHY.TO vs. ETHX.TOETHY.TO vs. BTCY.TOETHY.TO vs. EBIT.TOETHY.TO vs. CCCX-B.TOETHY.TO vs. CCCX.TOETHY.TO vs. BTCC-B.TO
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

Return for Risk

ETHY.TO vs. CPD.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ETHY.TO
ETHY.TO Risk / Return Rank: 44
Overall Rank
ETHY.TO Sharpe Ratio Rank: 44
Sharpe Ratio Rank
ETHY.TO Sortino Ratio Rank: 55
Sortino Ratio Rank
ETHY.TO Omega Ratio Rank: 55
Omega Ratio Rank
ETHY.TO Calmar Ratio Rank: 44
Calmar Ratio Rank
ETHY.TO Martin Ratio Rank: 44
Martin Ratio Rank
CPD.TO
CPD.TO Risk / Return Rank: 9494
Overall Rank
CPD.TO Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
CPD.TO Sortino Ratio Rank: 9595
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
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.

ETHY.TO vs. CPD.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Purpose Ether Yield ETF - ETF Units (ETHY.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.

ETHY.TOCPD.TODifference
Sharpe ratioReturn per unit of total volatility
-0.62
2.97

-3.59

Sortino ratioReturn per unit of downside risk
-0.64
4.04

-4.68

Omega ratioGain probability vs. loss probability

0.93

1.62

-0.70

Calmar ratioReturn relative to maximum drawdown

-0.63

4.55

-5.18

Martin ratioReturn relative to average drawdown

-1.02

22.66

-23.68

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

The current ETHY.TO Sharpe Ratio is -0.62, which is lower than the CPD.TO Sharpe Ratio of 2.97. The chart below compares the historical Sharpe Ratios of ETHY.TO and CPD.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

ETHY.TO vs. CPD.TO - Drawdown Comparison

The maximum ETHY.TO drawdown since its inception was -77.54%, 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 ETHY.TO and CPD.TO.

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Drawdown Indicators

ETHY.TOCPD.TODifference

Max Drawdown

Largest peak-to-trough decline

-77.54%

-40.92%

-36.62%

Max Drawdown (1Y)

Largest decline over 1 year

-71.48%

-2.70%

-68.78%

Max Drawdown (3Y)

Largest decline over 3 years

-71.48%

-7.65%

-63.83%

Max Drawdown (5Y)

Largest decline over 5 years

—

-24.12%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-40.92%

—

Current Drawdown

Current decline from peak

-70.67%

0.00%

-70.67%

Average Drawdown

Average peak-to-trough decline

-53.38%

-6.72%

-46.66%

Ulcer Index

Depth and duration of drawdowns from previous peaks

44.16%

0.54%

+43.62%

Volatility

ETHY.TO vs. CPD.TO - Volatility Comparison

Purpose Ether Yield ETF - ETF Units (ETHY.TO) has a higher volatility of 22.09% compared to iShares S&P/TSX Canadian Preferred Share Index ETF (CPD.TO) at 0.77%. This indicates that ETHY.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

ETHY.TOCPD.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

22.09%

0.77%

+21.32%

Volatility (6M)

Calculated over the trailing 6-month period

56.60%

2.72%

+53.88%

Volatility (1Y)

Calculated over the trailing 1-year period

72.70%

4.14%

+68.56%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

65.88%

7.70%

+58.18%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

65.88%

10.58%

+55.30%

Dividends

ETHY.TO vs. CPD.TO - Dividend Comparison

ETHY.TO's dividend yield for the trailing twelve months is around 44.86%, more than CPD.TO's 4.98% yield.

PositionTTM20252024202320222021202020192018201720162015
CPD.TO
iShares S&P/TSX Canadian Preferred Share Index ETF		4.98%4.96%5.11%5.88%5.53%4.17%4.96%5.02%4.74%4.33%4.85%5.44%
ETHY.TO
Purpose Ether Yield ETF - ETF Units		44.86%19.26%21.40%10.34%26.08%0.63%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

ETHY.TO and CPD.TO have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ETHY.TO is categorized as Cryptocurrency, while CPD.TO is Preferred Stock/Convertible Bonds. They also come from different issuers: Purpose Investments and iShares.

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