FPR.TO vs. VXM-B.TO
FPR.TO (CI Preferred Share ETF) and VXM-B.TO (CI Morningstar International Value Index ETF (Unhedged)) are both exchange-traded funds - FPR.TO is a Preferred Stock/Convertible Bonds fund actively managed by CI, while VXM-B.TO is a Foreign Small & Mid Cap Equities fund tracking the Morningstar Developed Markets ex-North America Target Value Index. FPR.TO is actively managed, while VXM-B.TO is passively managed. Over the past 10 years, FPR.TO returned 7.63%/yr vs 12.06%/yr for VXM-B.TO. At a 0.12 correlation, their price movements are largely independent.
Performance
FPR.TO vs. VXM-B.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 lower than VXM-B.TO's 8.67% return. Over the past 10 years, FPR.TO has underperformed VXM-B.TO with an annualized return of 7.63%, while VXM-B.TO has yielded a comparatively higher 12.06% annualized return.
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%
VXM-B.TO
- 1D
- -1.19%
- 1M
- -2.28%
- YTD
- 8.67%
- 6M
- 8.70%
- 1Y
- 28.44%
- 3Y*
- 27.12%
- 5Y*
- 17.52%
- 10Y*
- 12.06%
FPR.TO vs. VXM-B.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% |
VXM-B.TO CI Morningstar International Value Index ETF (Unhedged) | 8.67% | 46.74% | 18.34% | 18.89% | -2.50% | 9.58% | -10.23% | 9.77% | -11.40% | 22.82% |
Correlation
The correlation between FPR.TO and VXM-B.TO is -0.00, 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 | -0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since May 17, 2016 | 0.12 |
The correlation between FPR.TO and VXM-B.TO shifts across timeframes, from -0.00 (1 year) to 0.12 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FPR.TO vs. VXM-B.TO — Risk / Return Rank
FPR.TO
VXM-B.TO
FPR.TO vs. VXM-B.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 International Value Index ETF (Unhedged) (VXM-B.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 | VXM-B.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.38 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 5.85 | 2.76 | +3.09 |
| Martin ratioReturn relative to average drawdown | 21.28 | 9.99 | +11.29 |
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Drawdowns
FPR.TO vs. VXM-B.TO - Drawdown Comparison
The maximum FPR.TO drawdown since its inception was -36.12%, smaller than the maximum VXM-B.TO drawdown of -38.71%. Use the drawdown chart below to compare losses from any high point for FPR.TO and VXM-B.TO.
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Drawdown Indicators
| FPR.TO | VXM-B.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.12% | -38.71% | +2.59% |
Max Drawdown (1Y)Largest decline over 1 year | -2.75% | -10.33% | +7.58% |
Max Drawdown (3Y)Largest decline over 3 years | -7.34% | -13.31% | +5.97% |
Max Drawdown (5Y)Largest decline over 5 years | -20.31% | -22.12% | +1.81% |
Max Drawdown (10Y)Largest decline over 10 years | -36.12% | -38.71% | +2.59% |
Current DrawdownCurrent decline from peak | -0.72% | -4.06% | +3.34% |
Average DrawdownAverage peak-to-trough decline | -4.93% | -7.79% | +2.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.75% | 2.85% | -2.10% |
Volatility
FPR.TO vs. VXM-B.TO - Volatility Comparison
The current volatility for CI Preferred Share ETF (FPR.TO) is 1.31%, while CI Morningstar International Value Index ETF (Unhedged) (VXM-B.TO) has a volatility of 3.76%. This indicates that FPR.TO experiences smaller price fluctuations and is considered to be less risky than VXM-B.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 | VXM-B.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.31% | 3.76% | -2.45% |
Volatility (6M)Calculated over the trailing 6-month period | 4.76% | 10.89% | -6.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.22% | 13.37% | -6.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.24% | 13.75% | -5.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.36% | 15.15% | -4.79% |
Dividends
FPR.TO vs. VXM-B.TO - Dividend Comparison
FPR.TO's dividend yield for the trailing twelve months is around 4.03%, more than VXM-B.TO's 2.01% 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% |
VXM-B.TO CI Morningstar International Value Index ETF (Unhedged) | 2.01% | 2.21% | 3.97% | 3.67% | 3.67% | 2.05% | 2.18% | 1.59% | 2.05% | 1.52% | 1.42% | 1.04% |
Frequently Asked Questions
FPR.TO and VXM-B.TO have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FPR.TO is categorized as Preferred Stock/Convertible Bonds, while VXM-B.TO is Foreign Small & Mid Cap Equities.
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