FPR.TO vs. HPR.TO
FPR.TO (CI Preferred Share ETF) and HPR.TO (Global X Active Preferred Share ETF) are both Preferred Stock/Convertible Bonds funds. Both are actively managed. Over the past 10 years, FPR.TO returned 7.63%/yr vs 7.93%/yr for HPR.TO. At a 0.25 correlation, their price movements are largely independent.
Performance
FPR.TO vs. HPR.TO - Performance Comparison
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Returns By Period
In the year-to-date period, FPR.TO achieves a 5.83% return, which is significantly higher than HPR.TO's 5.13% return. Both investments have delivered pretty close results over the past 10 years, with FPR.TO having a 7.63% annualized return and HPR.TO not far ahead at 7.93%.
FPR.TO
- 1D
- 0.00%
- 1M
- 0.37%
- YTD
- 5.83%
- 6M
- 6.00%
- 1Y
- 15.42%
- 3Y*
- 16.79%
- 5Y*
- 7.23%
- 10Y*
- 7.63%
HPR.TO
- 1D
- 0.13%
- 1M
- 0.23%
- YTD
- 5.13%
- 6M
- 5.05%
- 1Y
- 15.40%
- 3Y*
- 19.35%
- 5Y*
- 7.69%
- 10Y*
- 7.93%
FPR.TO vs. HPR.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FPR.TO CI Preferred Share ETF | 5.83% | 16.63% | 23.27% | 3.44% | -13.72% | 21.25% | 7.57% | 3.65% | -5.80% | 10.90% |
HPR.TO Global X Active Preferred Share ETF | 5.13% | 17.78% | 27.79% | 8.31% | -19.54% | 24.30% | 6.34% | 2.42% | -10.18% | 15.68% |
Correlation
The correlation between FPR.TO and HPR.TO is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since May 17, 2016 | 0.25 |
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Return for Risk
FPR.TO vs. HPR.TO — Risk / Return Rank
FPR.TO
HPR.TO
FPR.TO vs. HPR.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Preferred Share ETF (FPR.TO) and Global X Active Preferred Share ETF (HPR.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 | HPR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.55 | ||
| Sortino ratioReturn per unit of downside risk | -2.41 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.82 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 5.85 | 6.96 | -1.10 |
| Martin ratioReturn relative to average drawdown | 21.28 | 35.83 | -14.55 |
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Drawdowns
FPR.TO vs. HPR.TO - Drawdown Comparison
The maximum FPR.TO drawdown since its inception was -36.12%, smaller than the maximum HPR.TO drawdown of -45.02%. Use the drawdown chart below to compare losses from any high point for FPR.TO and HPR.TO.
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Drawdown Indicators
| FPR.TO | HPR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.12% | -45.02% | +8.90% |
Max Drawdown (1Y)Largest decline over 1 year | -2.75% | -2.22% | -0.53% |
Max Drawdown (3Y)Largest decline over 3 years | -7.34% | -7.83% | +0.49% |
Max Drawdown (5Y)Largest decline over 5 years | -20.31% | -22.88% | +2.57% |
Max Drawdown (10Y)Largest decline over 10 years | -36.12% | -45.02% | +8.90% |
Current DrawdownCurrent decline from peak | -0.72% | -0.01% | -0.71% |
Average DrawdownAverage peak-to-trough decline | -4.93% | -6.16% | +1.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.75% | 0.43% | +0.32% |
Volatility
FPR.TO vs. HPR.TO - Volatility Comparison
CI Preferred Share ETF (FPR.TO) has a higher volatility of 1.31% compared to Global X Active Preferred Share ETF (HPR.TO) at 0.80%. This indicates that FPR.TO's price experiences larger fluctuations and is considered to be riskier than HPR.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 | HPR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.31% | 0.80% | +0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 4.76% | 2.58% | +2.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.22% | 4.10% | +3.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.24% | 8.43% | -0.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.36% | 11.76% | -1.40% |
Dividends
FPR.TO vs. HPR.TO - Dividend Comparison
FPR.TO's dividend yield for the trailing twelve months is around 4.03%, less than HPR.TO's 4.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FPR.TO CI Preferred Share ETF | 4.03% | 4.57% | 5.01% | 6.00% | 4.59% | 3.79% | 4.42% | 4.52% | 4.49% | 4.06% | 2.52% | 0.00% |
HPR.TO Global X Active Preferred Share ETF | 4.78% | 4.34% | 4.28% | 5.56% | 5.96% | 4.01% | 5.11% | 4.87% | 4.39% | 3.88% | 4.32% | 4.60% |
Frequently Asked Questions
FPR.TO and HPR.TO have a correlation of 0.17, 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: CI and Global X.
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