FPR.TO vs. CAGS.TO
FPR.TO (CI Preferred Share ETF) and CAGS.TO (CI Canadian Short-Term Aggregate Bond Index ETF) are both exchange-traded funds - FPR.TO is a Preferred Stock fund actively managed by CI, while CAGS.TO is a Short-Term Bond fund tracking the FTSE Canada Short Term Overall Bond Index. FPR.TO is actively managed, while CAGS.TO is passively managed. Over the past 5 years, FPR.TO returned 7.41%/yr vs 2.04%/yr for CAGS.TO. Their 0.08 correlation means their historical movements had little consistent relationship. FPR.TO charges 0.80%/yr vs 0.08%/yr for CAGS.TO.
Performance
FPR.TO vs. CAGS.TO - Performance Comparison
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Returns By Period
In the year-to-date period, FPR.TO achieves a 8.01% return, which is significantly higher than CAGS.TO's 0.99% return.
FPR.TO
- 1D
- 0.04%
- 1M
- 1.60%
- 6M
- 7.39%
- YTD
- 8.01%
- 1Y
- 14.42%
- 3Y*
- 17.20%
- 5Y*
- 7.41%
- 10Y*
- 7.38%
- ALL TIME*
- 7.69%
CAGS.TO
- 1D
- -0.17%
- 1M
- -0.27%
- 6M
- 0.59%
- YTD
- 0.99%
- 1Y
- 2.68%
- 3Y*
- 5.00%
- 5Y*
- 2.04%
- 10Y*
- —
- ALL TIME*
- 2.30%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$22.75K | CA$30.67K | CA$34.82K | |
FPR.TO CI Preferred Share ETF | CA$158.30 | CA$3.44K | CA$11.10K |
FPR.TO vs. CAGS.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FPR.TO CI Preferred Share ETF | 8.01% | 16.63% | 23.27% | 3.44% | -13.72% | 21.25% | 7.57% | 3.65% | -5.80% | 3.03% |
CAGS.TO CI Canadian Short-Term Aggregate Bond Index ETF | 0.99% | 3.95% | 6.07% | 5.02% | -4.30% | -1.22% | 4.47% | 4.33% | 1.41% | 0.49% |
Correlation
The correlation between FPR.TO and CAGS.TO is 0.19, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.19 |
Correlation (3Y) Balances recent behavior with more history. | 0.15 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.11 |
Correlation (All Time) Calculated using the full available price history since Jul 28, 2017 | 0.08 |
The correlation between FPR.TO and CAGS.TO shifts across timeframes, from 0.08 (all time) to 0.19 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FPR.TO vs. CAGS.TO — Risk / Return Rank
FPR.TO
CAGS.TO
FPR.TO vs. CAGS.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Preferred Share ETF (FPR.TO) and CI Canadian Short-Term Aggregate Bond Index ETF (CAGS.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.
| FPR.TO | CAGS.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.26 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 5.19 | 2.08 | +3.11 |
| Martin ratioReturn relative to average drawdown | 18.72 | 6.20 | +12.52 |
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Drawdowns
FPR.TO vs. CAGS.TO - Drawdown Comparison
The maximum FPR.TO drawdown since its inception was -36.12%, which is greater than CAGS.TO's maximum drawdown of -11.60%. Use the drawdown chart below to compare losses from any high point for FPR.TO and CAGS.TO.
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Drawdown Indicators
| FPR.TO | CAGS.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.12% | -11.60% | -24.52% |
Max Drawdown (1Y)Largest decline over 1 year | -2.75% | -1.33% | -1.42% |
Max Drawdown (3Y)Largest decline over 3 years | -7.34% | -1.33% | -6.01% |
Max Drawdown (5Y)Largest decline over 5 years | -20.31% | -7.58% | -12.73% |
Max Drawdown (10Y)Largest decline over 10 years | -36.12% | — | — |
Current DrawdownCurrent decline from peak | -0.33% | -0.46% | +0.13% |
Average DrawdownAverage peak-to-trough decline | -4.89% | -1.44% | -3.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.76% | 0.45% | +0.31% |
Volatility
FPR.TO vs. CAGS.TO - Volatility Comparison
CI Preferred Share ETF (FPR.TO) has a higher volatility of 1.62% compared to CI Canadian Short-Term Aggregate Bond Index ETF (CAGS.TO) at 0.82%. This indicates that FPR.TO's price experiences larger fluctuations and is considered to be riskier than CAGS.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FPR.TO | CAGS.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.62% | 0.82% | +0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 4.50% | 1.71% | +2.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.18% | 2.11% | +5.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.24% | 2.77% | +5.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.35% | 4.62% | +5.73% |
FPR.TO vs. CAGS.TO - Expense Ratio Comparison
FPR.TO has a 0.80% expense ratio, which is higher than CAGS.TO's 0.08% expense ratio.
Dividends
FPR.TO vs. CAGS.TO - Dividend Comparison
FPR.TO's dividend yield for the trailing twelve months is around 3.96%, more than CAGS.TO's 3.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CAGS.TO CI Canadian Short-Term Aggregate Bond Index ETF | 3.30% | 3.16% | 3.37% | 2.62% | 2.61% | 1.96% | 2.59% | 2.83% | 2.72% | 1.06% | 0.00% |
FPR.TO CI Preferred Share ETF | 3.96% | 4.57% | 5.01% | 6.00% | 4.59% | 3.79% | 4.42% | 4.52% | 4.49% | 4.06% | 2.52% |
Frequently Asked Questions
FPR.TO and CAGS.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.
On fees, CAGS.TO is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CAGS.TO is cheaper with a 0.08% expense ratio, compared with 0.80% for FPR.TO.
FPR.TO is categorized as Preferred Stock, while CAGS.TO is Short-Term Bond. Their fees differ too: 0.80% for FPR.TO and 0.08% for CAGS.TO.
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