FPR.TO vs. NPRF.TO
FPR.TO (CI Preferred Share ETF) and NPRF.TO (NBI Active Canadian Preferred Shares ETF) are both Preferred Stock/Convertible Bonds funds. Both are actively managed. Over the past 5 years, FPR.TO returned 7.49%/yr vs 6.29%/yr for NPRF.TO. At a 0.23 correlation, their price movements are largely independent.
Performance
FPR.TO vs. NPRF.TO - Performance Comparison
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Returns By Period
In the year-to-date period, FPR.TO achieves a 7.75% return, which is significantly higher than NPRF.TO's 5.30% return.
FPR.TO
- 1D
- 0.64%
- 1M
- 1.99%
- 6M
- 6.37%
- YTD
- 7.75%
- 1Y
- 16.06%
- 3Y*
- 17.19%
- 5Y*
- 7.49%
- 10Y*
- 7.58%
NPRF.TO
- 1D
- 0.04%
- 1M
- 1.29%
- 6M
- 4.47%
- YTD
- 5.30%
- 1Y
- 7.41%
- 3Y*
- 16.82%
- 5Y*
- 6.29%
- 10Y*
- —
FPR.TO vs. NPRF.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FPR.TO CI Preferred Share ETF | 7.75% | 16.63% | 23.27% | 3.44% | -13.72% | 21.25% | 7.57% | 3.06% |
NPRF.TO NBI Active Canadian Preferred Shares ETF | 5.30% | 11.95% | 29.71% | 4.36% | -16.96% | 23.46% | 7.91% | 3.02% |
Correlation
The correlation between FPR.TO and NPRF.TO is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2019 | 0.23 |
The correlation between FPR.TO and NPRF.TO shifts across timeframes, from -0.02 (1 year) to 0.23 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FPR.TO vs. NPRF.TO — Risk / Return Rank
FPR.TO
NPRF.TO
FPR.TO vs. NPRF.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Preferred Share ETF (FPR.TO) and NBI Active Canadian Preferred Shares ETF (NPRF.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 | NPRF.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.36 | ||
| Sortino ratioReturn per unit of downside risk | +2.02 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.27 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 5.87 | 0.95 | +4.93 |
| Martin ratioReturn relative to average drawdown | 21.25 | 1.69 | +19.56 |
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Drawdowns
FPR.TO vs. NPRF.TO - Drawdown Comparison
The maximum FPR.TO drawdown since its inception was -36.12%, roughly equal to the maximum NPRF.TO drawdown of -36.97%. Use the drawdown chart below to compare losses from any high point for FPR.TO and NPRF.TO.
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Drawdown Indicators
| FPR.TO | NPRF.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.12% | -36.97% | +0.85% |
Max Drawdown (1Y)Largest decline over 1 year | -2.75% | -7.85% | +5.10% |
Max Drawdown (3Y)Largest decline over 3 years | -7.34% | -7.85% | +0.51% |
Max Drawdown (5Y)Largest decline over 5 years | -20.31% | -24.68% | +4.37% |
Max Drawdown (10Y)Largest decline over 10 years | -36.12% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -2.74% | +2.74% |
Average DrawdownAverage peak-to-trough decline | -4.91% | -6.92% | +2.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.76% | 4.39% | -3.63% |
Volatility
FPR.TO vs. NPRF.TO - Volatility Comparison
CI Preferred Share ETF (FPR.TO) has a higher volatility of 1.26% compared to NBI Active Canadian Preferred Shares ETF (NPRF.TO) at 0.90%. This indicates that FPR.TO's price experiences larger fluctuations and is considered to be riskier than NPRF.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 | NPRF.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.26% | 0.90% | +0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 4.49% | 2.95% | +1.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.18% | 8.43% | -1.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.25% | 9.42% | -1.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.35% | 12.28% | -1.93% |
Dividends
FPR.TO vs. NPRF.TO - Dividend Comparison
FPR.TO's dividend yield for the trailing twelve months is around 3.96%, less than NPRF.TO's 4.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
NPRF.TO NBI Active Canadian Preferred Shares ETF | 4.52% | 4.75% | 4.65% | 5.86% | 4.91% | 3.78% | 4.39% | 3.16% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FPR.TO and NPRF.TO have a correlation of -0.02, 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 NBI.
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