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

HLPR.TO vs. ZHP.TO

Last updated Jul 15, 2026
Documentation

HLPR.TO (Global X Laddered Canadian Preferred Share Index Corporate Class ETF) and ZHP.TO (BMO US Preferred Share Hedged to CAD Index ETF) are both Preferred Stock/Convertible Bonds funds. Over the past 5 years, HLPR.TO returned 7.60%/yr vs -2.39%/yr for ZHP.TO. At a 0.14 correlation, their price movements are largely independent.

Performance

HLPR.TO vs. ZHP.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 BMO US Preferred Share Hedged to CAD Index ETF (ZHP.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 7.70% return, which is significantly higher than ZHP.TO's -0.56% return.

HLPR.TO

1D
-0.22%
1M
1.69%
6M
6.95%
YTD
7.70%
1Y
16.25%
3Y*
19.59%
5Y*
7.60%
10Y*
—

ZHP.TO

1D
0.43%
1M
-0.08%
6M
-1.85%
YTD
-0.56%
1Y
0.82%
3Y*
4.24%
5Y*
-2.39%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)2025202420232022202120202019
HLPR.TO
Global X Laddered Canadian Preferred Share Index Corporate Class ETF		7.70%18.79%28.13%2.89%-17.83%23.17%6.42%0.80%
ZHP.TO
BMO US Preferred Share Hedged to CAD Index ETF		-0.56%-1.34%7.03%4.43%-19.49%4.62%7.83%5.48%

Correlation

The correlation between HLPR.TO and ZHP.TO is 0.03, 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

0.03

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

0.04

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

0.14

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

0.14

The correlation between HLPR.TO and ZHP.TO shifts across timeframes, from 0.03 (1 year) to 0.14 (5 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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Global X Laddered Canadian Preferred Share Index Corporate Class ETF

BMO US Preferred Share Hedged to CAD Index 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 ZHP.TO:
ZHP.TO vs. ZPR.TOZHP.TO vs. FPR.TOZHP.TO vs. HYBR.TOZHP.TO vs. DXP.TOZHP.TO vs. ZEQT.TOZHP.TO vs. HPR.TOZHP.TO vs. ZEB.TO

Return for Risk

HLPR.TO vs. ZHP.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
ZHP.TO
ZHP.TO Risk / Return Rank: 1111
Overall Rank
ZHP.TO Sharpe Ratio Rank: 1111
Sharpe Ratio Rank
ZHP.TO Sortino Ratio Rank: 1010
Sortino Ratio Rank
ZHP.TO Omega Ratio Rank: 1010
Omega Ratio Rank
ZHP.TO Calmar Ratio Rank: 1111
Calmar Ratio Rank
ZHP.TO Martin Ratio Rank: 1111
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. ZHP.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 BMO US Preferred Share Hedged to CAD Index ETF (ZHP.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.TOZHP.TODifference
Sharpe ratioReturn per unit of total volatility
3.77
0.12

+3.65

Sortino ratioReturn per unit of downside risk
5.27
0.22

+5.04

Omega ratioGain probability vs. loss probability

1.82

1.03

+0.80

Calmar ratioReturn relative to maximum drawdown

6.57

0.13

+6.44

Martin ratioReturn relative to average drawdown

37.55

0.25

+37.30

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

The current HLPR.TO Sharpe Ratio is 3.77, which is higher than the ZHP.TO Sharpe Ratio of 0.12. The chart below compares the historical Sharpe Ratios of HLPR.TO and ZHP.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. ZHP.TO - Drawdown Comparison

The maximum HLPR.TO drawdown since its inception was -38.96%, smaller than the maximum ZHP.TO drawdown of -41.53%. Use the drawdown chart below to compare losses from any high point for HLPR.TO and ZHP.TO.

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Drawdown Indicators

HLPR.TOZHP.TODifference

Max Drawdown

Largest peak-to-trough decline

-38.96%

-41.53%

+2.57%

Max Drawdown (1Y)

Largest decline over 1 year

-2.49%

-6.26%

+3.77%

Max Drawdown (3Y)

Largest decline over 3 years

-9.88%

-11.80%

+1.92%

Max Drawdown (5Y)

Largest decline over 5 years

-26.79%

-30.45%

+3.66%

Current Drawdown

Current decline from peak

-0.22%

-13.13%

+12.91%

Average Drawdown

Average peak-to-trough decline

-6.48%

-8.67%

+2.19%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.43%

3.31%

-2.88%

Volatility

HLPR.TO vs. ZHP.TO - Volatility Comparison

The current volatility for Global X Laddered Canadian Preferred Share Index Corporate Class ETF (HLPR.TO) is 1.07%, while BMO US Preferred Share Hedged to CAD Index ETF (ZHP.TO) has a volatility of 2.93%. This indicates that HLPR.TO experiences smaller price fluctuations and is considered to be less risky than ZHP.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.TOZHP.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

1.07%

2.93%

-1.86%

Volatility (6M)

Calculated over the trailing 6-month period

2.82%

5.34%

-2.52%

Volatility (1Y)

Calculated over the trailing 1-year period

4.33%

6.73%

-2.40%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

8.34%

12.65%

-4.31%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.01%

15.93%

-2.92%

Dividends

HLPR.TO vs. ZHP.TO - Dividend Comparison

HLPR.TO has not paid dividends to shareholders, while ZHP.TO's dividend yield for the trailing twelve months is around 6.19%.

PositionTTM202520242023202220212020201920182017
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%0.00%0.00%
ZHP.TO
BMO US Preferred Share Hedged to CAD Index ETF		6.19%6.46%6.29%7.14%6.93%5.41%5.61%5.39%5.61%4.60%

Frequently Asked Questions

HLPR.TO and ZHP.TO have a correlation of 0.03, 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 BMO.

Portfolio Optimizer

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