HPR.TO vs. XSH.TO
HPR.TO (Global X Active Preferred Share ETF) and XSH.TO (iShares Core Canadian Short Term Corporate Bond Index ETF) are both exchange-traded funds - HPR.TO is a Preferred Stock/Convertible Bonds fund actively managed by Global X, while XSH.TO is a Canadian Government Bonds fund tracking the Morningstar Can 1-5Y Core Bd GR CAD. HPR.TO is actively managed, while XSH.TO is passively managed. Over the past 10 years, HPR.TO returned 7.81%/yr vs 2.82%/yr for XSH.TO. At a correlation of -0.00, they often move in opposite directions. HPR.TO charges 0.64%/yr vs 0.10%/yr for XSH.TO.
Performance
HPR.TO vs. XSH.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HPR.TO achieves a 4.70% return, which is significantly higher than XSH.TO's 1.33% return. Over the past 10 years, HPR.TO has outperformed XSH.TO with an annualized return of 7.81%, while XSH.TO has yielded a comparatively lower 2.82% annualized return.
HPR.TO
- 1D
- -0.19%
- 1M
- 0.88%
- YTD
- 4.70%
- 6M
- 5.83%
- 1Y
- 17.66%
- 3Y*
- 19.60%
- 5Y*
- 7.36%
- 10Y*
- 7.81%
XSH.TO
- 1D
- 0.00%
- 1M
- 1.13%
- YTD
- 1.33%
- 6M
- 1.34%
- 1Y
- 3.85%
- 3Y*
- 6.05%
- 5Y*
- 2.86%
- 10Y*
- 2.82%
HPR.TO vs. XSH.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HPR.TO Global X Active Preferred Share ETF | 4.70% | 17.78% | 27.79% | 8.31% | -19.54% | 24.30% | 6.35% | 2.43% | -10.17% | 15.69% |
XSH.TO iShares Core Canadian Short Term Corporate Bond Index ETF | 1.33% | 4.61% | 7.11% | 6.80% | -4.52% | -0.81% | 6.28% | 5.02% | 1.28% | 0.78% |
Correlation
The correlation between HPR.TO and XSH.TO is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2011 | -0.00 |
The correlation between HPR.TO and XSH.TO shifts across timeframes, from -0.00 (all time) to 0.18 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
HPR.TO vs. XSH.TO — Risk / Return Rank
HPR.TO
XSH.TO
HPR.TO vs. XSH.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Active Preferred Share ETF (HPR.TO) and iShares Core Canadian Short Term Corporate Bond Index ETF (XSH.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.
| HPR.TO | XSH.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.47 | ||
| Sortino ratioReturn per unit of downside risk | +3.90 | ||
| Omega ratioGain probability vs. loss probability | 1.95 | 1.36 | +0.59 |
| Calmar ratioReturn relative to maximum drawdown | 7.98 | 2.57 | +5.42 |
| Martin ratioReturn relative to average drawdown | 41.59 | 10.05 | +31.54 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HPR.TO | XSH.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.26 | 1.79 | +2.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.88 | 1.02 | -0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.67 | 0.64 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.00 | 0.74 | -0.74 |
Drawdowns
HPR.TO vs. XSH.TO - Drawdown Comparison
The maximum HPR.TO drawdown since its inception was -45.01%, which is greater than XSH.TO's maximum drawdown of -14.24%. Use the drawdown chart below to compare losses from any high point for HPR.TO and XSH.TO.
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Drawdown Indicators
| HPR.TO | XSH.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.01% | -14.24% | -30.77% |
Max Drawdown (1Y)Largest decline over 1 year | -2.22% | -1.51% | -0.71% |
Max Drawdown (3Y)Largest decline over 3 years | -7.83% | -1.51% | -6.32% |
Max Drawdown (5Y)Largest decline over 5 years | -22.88% | -7.80% | -15.08% |
Max Drawdown (10Y)Largest decline over 10 years | -45.01% | -14.24% | -30.77% |
Current DrawdownCurrent decline from peak | -0.42% | 0.00% | -0.42% |
Average DrawdownAverage peak-to-trough decline | -6.19% | -0.93% | -5.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 0.38% | +0.05% |
Volatility
HPR.TO vs. XSH.TO - Volatility Comparison
Global X Active Preferred Share ETF (HPR.TO) has a higher volatility of 0.98% compared to iShares Core Canadian Short Term Corporate Bond Index ETF (XSH.TO) at 0.80%. This indicates that HPR.TO's price experiences larger fluctuations and is considered to be riskier than XSH.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HPR.TO | XSH.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 0.80% | +0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 2.68% | 1.83% | +0.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.17% | 2.16% | +2.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.43% | 2.83% | +5.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.80% | 4.42% | +7.38% |
HPR.TO vs. XSH.TO - Expense Ratio Comparison
HPR.TO has a 0.64% expense ratio, which is higher than XSH.TO's 0.10% expense ratio.
Dividends
HPR.TO vs. XSH.TO - Dividend Comparison
HPR.TO's dividend yield for the trailing twelve months is around 4.73%, more than XSH.TO's 3.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HPR.TO Global X Active Preferred Share ETF | 4.73% | 4.34% | 4.28% | 5.56% | 5.96% | 4.01% | 5.12% | 4.88% | 4.40% | 3.89% | 4.34% | 4.61% |
XSH.TO iShares Core Canadian Short Term Corporate Bond Index ETF | 3.89% | 3.82% | 3.64% | 3.24% | 2.97% | 2.65% | 2.61% | 2.80% | 2.86% | 2.93% | 3.08% | 3.18% |
Frequently Asked Questions
HPR.TO and XSH.TO have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XSH.TO is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XSH.TO is cheaper with a 0.10% expense ratio, compared with 0.64% for HPR.TO.
HPR.TO is categorized as Preferred Stock/Convertible Bonds, while XSH.TO is Canadian Government Bonds. They also come from different issuers: Global X and iShares. Their fees differ too: 0.64% for HPR.TO and 0.10% for XSH.TO.
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