FPR.TO vs. FXM.TO
FPR.TO (CI Preferred Share ETF) and FXM.TO (CI Morningstar Canada Value Index ETF) are both exchange-traded funds - FPR.TO is a Preferred Stock fund actively managed by CI, while FXM.TO is a Canada Equities fund tracking the Morningstar Canada Target Value Index. FPR.TO is actively managed, while FXM.TO is passively managed. Over the past 10 years, FPR.TO returned 7.38%/yr vs 14.71%/yr for FXM.TO. Their 0.10 correlation means their historical movements had little consistent relationship. FPR.TO charges 0.80%/yr vs 0.64%/yr for FXM.TO.
Performance
FPR.TO vs. FXM.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 lower than FXM.TO's 18.11% return. Over the past 10 years, FPR.TO has underperformed FXM.TO with an annualized return of 7.38%, while FXM.TO has yielded a comparatively higher 14.71% annualized 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%
FXM.TO
- 1D
- -0.58%
- 1M
- 3.42%
- 6M
- 14.60%
- YTD
- 18.11%
- 1Y
- 45.40%
- 3Y*
- 27.60%
- 5Y*
- 19.13%
- 10Y*
- 14.71%
- ALL TIME*
- 13.03%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
FPR.TO CI Preferred Share ETF | CA$158.30 | CA$3.44K | CA$11.10K |
| CA$211.28K | CA$184.82K | CA$281.27K |
FPR.TO vs. FXM.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% | 10.90% |
FXM.TO CI Morningstar Canada Value Index ETF | 18.11% | 38.54% | 30.05% | 5.79% | -1.19% | 31.47% | 6.16% | 24.14% | -16.22% | 11.51% |
Correlation
The correlation between FPR.TO and FXM.TO is 0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.01 |
Correlation (3Y) Balances recent behavior with more history. | 0.05 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.06 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.10 |
Correlation (All Time) Calculated using the full available price history since May 17, 2016 | 0.10 |
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Return for Risk
FPR.TO vs. FXM.TO — Risk / Return Rank
FPR.TO
FXM.TO
FPR.TO vs. FXM.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Preferred Share ETF (FPR.TO) and CI Morningstar Canada Value Index ETF (FXM.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 | FXM.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.01 | ||
| Sortino ratioReturn per unit of downside risk | -2.29 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.75 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | 5.19 | 5.51 | -0.32 |
| Martin ratioReturn relative to average drawdown | 18.72 | 21.50 | -2.78 |
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Drawdowns
FPR.TO vs. FXM.TO - Drawdown Comparison
The maximum FPR.TO drawdown since its inception was -36.12%, smaller than the maximum FXM.TO drawdown of -46.41%. Use the drawdown chart below to compare losses from any high point for FPR.TO and FXM.TO.
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Drawdown Indicators
| FPR.TO | FXM.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.12% | -46.41% | +10.29% |
Max Drawdown (1Y)Largest decline over 1 year | -2.75% | -8.11% | +5.36% |
Max Drawdown (3Y)Largest decline over 3 years | -7.34% | -12.44% | +5.10% |
Max Drawdown (5Y)Largest decline over 5 years | -20.31% | -16.08% | -4.23% |
Max Drawdown (10Y)Largest decline over 10 years | -36.12% | -46.41% | +10.29% |
Current DrawdownCurrent decline from peak | -0.33% | -0.65% | +0.32% |
Average DrawdownAverage peak-to-trough decline | -4.89% | -4.64% | -0.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.76% | 2.08% | -1.32% |
Volatility
FPR.TO vs. FXM.TO - Volatility Comparison
The current volatility for CI Preferred Share ETF (FPR.TO) is 1.62%, while CI Morningstar Canada Value Index ETF (FXM.TO) has a volatility of 2.53%. This indicates that FPR.TO experiences smaller price fluctuations and is considered to be less risky than FXM.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 | FXM.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.62% | 2.53% | -0.91% |
Volatility (6M)Calculated over the trailing 6-month period | 4.50% | 8.27% | -3.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.18% | 11.25% | -4.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.24% | 14.15% | -5.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.35% | 16.88% | -6.53% |
FPR.TO vs. FXM.TO - Expense Ratio Comparison
FPR.TO has a 0.80% expense ratio, which is higher than FXM.TO's 0.64% expense ratio.
Dividends
FPR.TO vs. FXM.TO - Dividend Comparison
FPR.TO's dividend yield for the trailing twelve months is around 3.96%, more than FXM.TO's 1.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
FXM.TO CI Morningstar Canada Value Index ETF | 1.72% | 1.91% | 2.17% | 2.96% | 2.18% | 2.19% | 2.40% | 2.04% | 2.52% | 1.70% | 1.83% | 2.24% |
Frequently Asked Questions
FPR.TO and FXM.TO have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FXM.TO is cheaper at 0.64% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FXM.TO is cheaper with a 0.64% expense ratio, compared with 0.80% for FPR.TO.
FPR.TO is categorized as Preferred Stock, while FXM.TO is Canada Equities. Their fees differ too: 0.80% for FPR.TO and 0.64% for FXM.TO.
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