FPR.TO vs. ZUP.TO
FPR.TO (CI Preferred Share ETF) and ZUP.TO (BMO US Preferred Share Index ETF) are both Preferred Stock/Convertible Bonds funds. Over the past 5 years, FPR.TO returned 7.51%/yr vs 1.21%/yr for ZUP.TO. At a 0.08 correlation, their price movements are largely independent.
Performance
FPR.TO vs. ZUP.TO - Performance Comparison
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Returns By Period
In the year-to-date period, FPR.TO achieves a 7.39% return, which is significantly higher than ZUP.TO's 3.81% return.
FPR.TO
- 1D
- 0.11%
- 1M
- 1.65%
- 6M
- 7.05%
- YTD
- 7.39%
- 1Y
- 15.58%
- 3Y*
- 17.18%
- 5Y*
- 7.51%
- 10Y*
- 7.52%
ZUP.TO
- 1D
- -0.05%
- 1M
- -0.39%
- 6M
- 0.96%
- YTD
- 3.81%
- 1Y
- 5.90%
- 3Y*
- 8.43%
- 5Y*
- 1.21%
- 10Y*
- —
FPR.TO vs. ZUP.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FPR.TO CI Preferred Share ETF | 7.39% | 16.63% | 23.27% | 3.44% | -13.72% | 21.25% | 7.57% | 3.65% | -5.80% | 7.10% |
ZUP.TO BMO US Preferred Share Index ETF | 3.81% | -4.11% | 17.52% | 3.56% | -14.25% | 4.80% | 7.69% | 11.34% | 1.93% | 0.37% |
Correlation
The correlation between FPR.TO and ZUP.TO is -0.01, 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 | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Feb 9, 2017 | 0.08 |
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Return for Risk
FPR.TO vs. ZUP.TO — Risk / Return Rank
FPR.TO
ZUP.TO
FPR.TO vs. ZUP.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Preferred Share ETF (FPR.TO) and BMO US Preferred Share Index ETF (ZUP.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 | ZUP.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.62 | ||
| Sortino ratioReturn per unit of downside risk | +2.23 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.13 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 6.05 | 1.25 | +4.80 |
| Martin ratioReturn relative to average drawdown | 21.90 | 2.51 | +19.39 |
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Drawdowns
FPR.TO vs. ZUP.TO - Drawdown Comparison
The maximum FPR.TO drawdown since its inception was -36.12%, which is greater than ZUP.TO's maximum drawdown of -32.93%. Use the drawdown chart below to compare losses from any high point for FPR.TO and ZUP.TO.
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Drawdown Indicators
| FPR.TO | ZUP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.12% | -32.93% | -3.19% |
Max Drawdown (1Y)Largest decline over 1 year | -2.75% | -4.76% | +2.01% |
Max Drawdown (3Y)Largest decline over 3 years | -7.34% | -12.88% | +5.54% |
Max Drawdown (5Y)Largest decline over 5 years | -20.31% | -25.34% | +5.03% |
Max Drawdown (10Y)Largest decline over 10 years | -36.12% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -3.89% | +3.89% |
Average DrawdownAverage peak-to-trough decline | -4.91% | -5.33% | +0.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.76% | 2.36% | -1.60% |
Volatility
FPR.TO vs. ZUP.TO - Volatility Comparison
The current volatility for CI Preferred Share ETF (FPR.TO) is 1.05%, while BMO US Preferred Share Index ETF (ZUP.TO) has a volatility of 4.40%. This indicates that FPR.TO experiences smaller price fluctuations and is considered to be less risky than ZUP.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 | ZUP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.05% | 4.40% | -3.35% |
Volatility (6M)Calculated over the trailing 6-month period | 4.52% | 6.34% | -1.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.23% | 8.64% | -1.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.24% | 11.83% | -3.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.35% | 14.40% | -4.05% |
Dividends
FPR.TO vs. ZUP.TO - Dividend Comparison
FPR.TO's dividend yield for the trailing twelve months is around 3.97%, less than ZUP.TO's 6.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FPR.TO CI Preferred Share ETF | 3.97% | 4.57% | 5.01% | 6.00% | 4.59% | 3.79% | 4.42% | 4.52% | 4.49% | 4.06% | 2.52% |
ZUP.TO BMO US Preferred Share Index ETF | 6.11% | 6.51% | 5.82% | 6.88% | 6.33% | 5.28% | 5.81% | 5.52% | 5.29% | 5.14% | 0.00% |
Frequently Asked Questions
FPR.TO and ZUP.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.
They also come from different issuers: CI and BMO.
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