FIE.TO vs. CPD.TO
FIE.TO (iShares Canadian Financial Monthly Income ETF) and CPD.TO (iShares S&P/TSX Canadian Preferred Share Index ETF) are both exchange-traded funds - FIE.TO is a Financials Equities fund actively managed by iShares, while CPD.TO is a Preferred Stock/Convertible Bonds fund tracking the S&P/TSX Preferred Share TR. FIE.TO is actively managed, while CPD.TO is passively managed. Over the past 10 years, FIE.TO returned 12.31%/yr vs 6.65%/yr for CPD.TO. At a 0.36 correlation, their price movements are largely independent. FIE.TO charges 0.74%/yr vs 0.50%/yr for CPD.TO.
Performance
FIE.TO vs. CPD.TO - Performance Comparison
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Returns By Period
In the year-to-date period, FIE.TO achieves a 14.56% return, which is significantly higher than CPD.TO's 4.16% return. Over the past 10 years, FIE.TO has outperformed CPD.TO with an annualized return of 12.31%, while CPD.TO has yielded a comparatively lower 6.65% annualized return.
FIE.TO
- 1D
- 0.09%
- 1M
- 4.86%
- YTD
- 14.56%
- 6M
- 11.23%
- 1Y
- 32.60%
- 3Y*
- 26.44%
- 5Y*
- 13.03%
- 10Y*
- 12.31%
CPD.TO
- 1D
- 0.07%
- 1M
- 0.50%
- YTD
- 4.16%
- 6M
- 4.45%
- 1Y
- 13.67%
- 3Y*
- 16.28%
- 5Y*
- 5.88%
- 10Y*
- 6.65%
FIE.TO vs. CPD.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FIE.TO iShares Canadian Financial Monthly Income ETF | 14.56% | 24.36% | 27.62% | 12.58% | -14.35% | 27.34% | 1.33% | 18.97% | -9.12% | 12.01% |
CPD.TO iShares S&P/TSX Canadian Preferred Share Index ETF | 4.16% | 16.10% | 23.31% | 6.23% | -19.19% | 18.85% | 5.35% | 3.35% | -9.05% | 13.44% |
Correlation
The correlation between FIE.TO and CPD.TO is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2010 | 0.36 |
The correlation between FIE.TO and CPD.TO shifts across timeframes, from 0.30 (1 year) to 0.44 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
FIE.TO vs. CPD.TO — Risk / Return Rank
FIE.TO
CPD.TO
FIE.TO vs. CPD.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Canadian Financial Monthly Income ETF (FIE.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.
| FIE.TO | CPD.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.71 | 1.71 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 4.55 | 5.09 | -0.53 |
| Martin ratioReturn relative to average drawdown | 14.80 | 25.35 | -10.55 |
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Drawdowns
FIE.TO vs. CPD.TO - Drawdown Comparison
The maximum FIE.TO drawdown since its inception was -42.24%, roughly equal to the maximum CPD.TO drawdown of -40.92%. Use the drawdown chart below to compare losses from any high point for FIE.TO and CPD.TO.
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Drawdown Indicators
| FIE.TO | CPD.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.24% | -40.92% | -1.32% |
Max Drawdown (1Y)Largest decline over 1 year | -7.19% | -2.70% | -4.49% |
Max Drawdown (3Y)Largest decline over 3 years | -10.70% | -7.65% | -3.05% |
Max Drawdown (5Y)Largest decline over 5 years | -22.93% | -24.12% | +1.19% |
Max Drawdown (10Y)Largest decline over 10 years | -42.24% | -40.92% | -1.32% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -4.88% | -6.74% | +1.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.21% | 0.54% | +1.67% |
Volatility
FIE.TO vs. CPD.TO - Volatility Comparison
iShares Canadian Financial Monthly Income ETF (FIE.TO) has a higher volatility of 2.54% compared to iShares S&P/TSX Canadian Preferred Share Index ETF (CPD.TO) at 0.86%. This indicates that FIE.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
| FIE.TO | CPD.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.54% | 0.86% | +1.68% |
Volatility (6M)Calculated over the trailing 6-month period | 7.83% | 2.68% | +5.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.02% | 4.18% | +4.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.55% | 7.70% | +2.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.06% | 10.59% | +3.47% |
FIE.TO vs. CPD.TO - Expense Ratio Comparison
FIE.TO has a 0.74% expense ratio, which is higher than CPD.TO's 0.50% expense ratio.
Dividends
FIE.TO vs. CPD.TO - Dividend Comparison
FIE.TO's dividend yield for the trailing twelve months is around 4.34%, less than CPD.TO's 5.00% 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 | 5.00% | 4.96% | 5.11% | 5.88% | 5.53% | 4.17% | 4.96% | 5.02% | 4.74% | 4.33% | 4.85% | 5.44% |
FIE.TO iShares Canadian Financial Monthly Income ETF | 4.34% | 4.94% | 5.83% | 6.98% | 7.31% | 5.92% | 7.10% | 6.65% | 7.38% | 6.28% | 6.59% | 7.43% |
Frequently Asked Questions
FIE.TO and CPD.TO have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CPD.TO is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CPD.TO is cheaper with a 0.50% expense ratio, compared with 0.74% for FIE.TO.
FIE.TO is categorized as Financials Equities, while CPD.TO is Preferred Stock/Convertible Bonds. Their fees differ too: 0.74% for FIE.TO and 0.50% for CPD.TO.
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