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HLPR.TO vs. NPRF.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HLPR.TO vs. NPRF.TO

Last updated Jul 17, 2026
Documentation

HLPR.TO (Global X Laddered Canadian Preferred Share Index Corporate Class ETF) and NPRF.TO (NBI Active Canadian Preferred Shares ETF) are both Preferred Stock/Convertible Bonds funds. HLPR.TO is passively managed, while NPRF.TO is actively managed. Over the past 5 years, HLPR.TO returned 7.66%/yr vs 6.29%/yr for NPRF.TO. At a 0.49 correlation, their price movements are largely independent.

Performance

HLPR.TO vs. NPRF.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Laddered Canadian Preferred Share Index Corporate Class ETF (HLPR.TO) and NBI Active Canadian Preferred Shares ETF (NPRF.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HLPR.TO achieves a 8.14% return, which is significantly higher than NPRF.TO's 5.30% return.

HLPR.TO

1D
-0.22%
1M
1.76%
6M
7.48%
YTD
8.14%
1Y
16.28%
3Y*
19.66%
5Y*
7.66%
10Y*
—

NPRF.TO

1D
0.04%
1M
1.29%
6M
4.47%
YTD
5.30%
1Y
7.41%
3Y*
16.82%
5Y*
6.29%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

HLPR.TO vs. NPRF.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
HLPR.TO
Global X Laddered Canadian Preferred Share Index Corporate Class ETF		8.14%18.79%28.13%2.89%-17.83%23.17%6.42%0.80%
NPRF.TO
NBI Active Canadian Preferred Shares ETF		5.30%11.95%29.71%4.36%-16.96%23.46%7.91%2.87%

Correlation

The correlation between HLPR.TO and NPRF.TO is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.28

Correlation (3Y)
Calculated over the trailing 3-year period

0.39

Correlation (5Y)
Calculated over the trailing 5-year period

0.46

Correlation (All Time)
Calculated using the full available price history since Feb 27, 2019

0.49

Over the past year, the correlation between HLPR.TO and NPRF.TO has dropped to 0.28 - well below their long-term average of 0.49, suggesting their price drivers have been diverging.

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Global X Laddered Canadian Preferred Share Index Corporate Class ETF

NBI Active Canadian Preferred Shares ETF

Often compared with HLPR.TO:
HLPR.TO vs. ZPR.TOHLPR.TO vs. HPR.TOHLPR.TO vs. TPRF.TOHLPR.TO vs. CPD.TOHLPR.TO vs. SPLT.TOHLPR.TO vs. XPF.TOHLPR.TO vs. RPF.TO
Often compared with NPRF.TO:
NPRF.TO vs. NALT.TONPRF.TO vs. CPD.TONPRF.TO vs. DXP.TONPRF.TO vs. FPR.TONPRF.TO vs. HPR.TONPRF.TO vs. HYBR.TONPRF.TO vs. PR.TO

Return for Risk

HLPR.TO vs. NPRF.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HLPR.TO
HLPR.TO Risk / Return Rank: 9797
Overall Rank
HLPR.TO Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
HLPR.TO Sortino Ratio Rank: 9797
Sortino Ratio Rank
HLPR.TO Omega Ratio Rank: 9797
Omega Ratio Rank
HLPR.TO Calmar Ratio Rank: 9696
Calmar Ratio Rank
HLPR.TO Martin Ratio Rank: 9797
Martin Ratio Rank
NPRF.TO
NPRF.TO Risk / Return Rank: 3030
Overall Rank
NPRF.TO Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
NPRF.TO Sortino Ratio Rank: 2626
Sortino Ratio Rank
NPRF.TO Omega Ratio Rank: 5252
Omega Ratio Rank
NPRF.TO Calmar Ratio Rank: 2424
Calmar Ratio Rank
NPRF.TO Martin Ratio Rank: 2020
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HLPR.TO vs. NPRF.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Laddered Canadian Preferred Share Index Corporate Class ETF (HLPR.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.

HLPR.TONPRF.TODifference
Sharpe ratioReturn per unit of total volatility
3.75
0.88

+2.86

Sortino ratioReturn per unit of downside risk
5.26
1.20

+4.06

Omega ratioGain probability vs. loss probability

1.81

1.27

+0.55

Calmar ratioReturn relative to maximum drawdown

6.58

0.95

+5.63

Martin ratioReturn relative to average drawdown

37.60

1.69

+35.91

HLPR.TO vs. NPRF.TO - Sharpe Ratio Comparison

The current HLPR.TO Sharpe Ratio is 3.75, which is higher than the NPRF.TO Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of HLPR.TO and NPRF.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

HLPR.TO vs. NPRF.TO - Drawdown Comparison

The maximum HLPR.TO drawdown since its inception was -38.96%, which is greater than NPRF.TO's maximum drawdown of -36.97%. Use the drawdown chart below to compare losses from any high point for HLPR.TO and NPRF.TO.

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Drawdown Indicators

HLPR.TONPRF.TODifference

Max Drawdown

Largest peak-to-trough decline

-38.96%

-36.97%

-1.99%

Max Drawdown (1Y)

Largest decline over 1 year

-2.49%

-7.85%

+5.36%

Max Drawdown (3Y)

Largest decline over 3 years

-9.88%

-7.85%

-2.03%

Max Drawdown (5Y)

Largest decline over 5 years

-26.79%

-24.68%

-2.11%

Current Drawdown

Current decline from peak

-0.22%

-2.74%

+2.52%

Average Drawdown

Average peak-to-trough decline

-6.47%

-6.92%

+0.45%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.43%

4.39%

-3.96%

Volatility

HLPR.TO vs. NPRF.TO - Volatility Comparison

Global X Laddered Canadian Preferred Share Index Corporate Class ETF (HLPR.TO) has a higher volatility of 1.17% compared to NBI Active Canadian Preferred Shares ETF (NPRF.TO) at 0.90%. This indicates that HLPR.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

HLPR.TONPRF.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

1.17%

0.90%

+0.27%

Volatility (6M)

Calculated over the trailing 6-month period

2.88%

2.95%

-0.07%

Volatility (1Y)

Calculated over the trailing 1-year period

4.37%

8.43%

-4.06%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

8.35%

9.42%

-1.07%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.00%

12.28%

+0.72%

Dividends

HLPR.TO vs. NPRF.TO - Dividend Comparison

HLPR.TO has not paid dividends to shareholders, while NPRF.TO's dividend yield for the trailing twelve months is around 4.52%.

PositionTTM2025202420232022202120202019
HLPR.TO
Global X Laddered Canadian Preferred Share Index Corporate Class ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
NPRF.TO
NBI Active Canadian Preferred Shares ETF		4.52%4.75%4.65%5.86%4.91%3.78%4.39%3.16%

Frequently Asked Questions

HLPR.TO and NPRF.TO have a correlation of 0.28, 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: Global X and NBI.

Portfolio Optimizer

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