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HYBR.TO vs. DCP.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HYBR.TO vs. DCP.TO

Last updated Jul 18, 2026
Documentation

HYBR.TO (Global X Active Hybrid Bond and Preferred Share ETF) and DCP.TO (Desjardins Canadian Preferred Share Index ETF) are both Preferred Stock/Convertible Bonds funds. Both are actively managed. Over the past 5 years, HYBR.TO returned 8.56%/yr vs 7.69%/yr for DCP.TO. At a 0.25 correlation, their price movements are largely independent.

Performance

HYBR.TO vs. DCP.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Active Hybrid Bond and Preferred Share ETF (HYBR.TO) and Desjardins Canadian Preferred Share Index ETF (DCP.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, HYBR.TO achieves a 6.80% return, which is significantly higher than DCP.TO's 6.27% return.

HYBR.TO

1D
0.27%
1M
1.21%
6M
6.21%
YTD
6.80%
1Y
14.89%
3Y*
19.65%
5Y*
8.56%
10Y*
8.53%

DCP.TO

1D
0.00%
1M
1.61%
6M
6.02%
YTD
6.27%
1Y
13.39%
3Y*
18.67%
5Y*
7.69%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

HYBR.TO vs. DCP.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HYBR.TO
Global X Active Hybrid Bond and Preferred Share ETF		6.80%17.73%27.83%6.98%-15.95%26.17%5.51%0.63%-10.44%7.25%
DCP.TO
Desjardins Canadian Preferred Share Index ETF		6.27%15.46%29.54%6.53%-17.25%22.18%5.96%5.26%-12.81%5.94%

Correlation

The correlation between HYBR.TO and DCP.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

0.15

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

0.22

Correlation (All Time)
Calculated using the full available price history since Apr 3, 2017

0.25

Over the past year, the correlation between HYBR.TO and DCP.TO has dropped to 0.00 - well below their long-term average of 0.25, suggesting their price drivers have been diverging.

Compare stocks, funds, or ETFs

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Global X Active Hybrid Bond and Preferred Share ETF

Desjardins Canadian Preferred Share Index ETF

Often compared with HYBR.TO:
HYBR.TO vs. SPLT.TOHYBR.TO vs. XPF.TOHYBR.TO vs. DXP.TOHYBR.TO vs. CPD.TOHYBR.TO vs. HLPR.TOHYBR.TO vs. TPRF.TOHYBR.TO vs. HPR.TO
Often compared with DCP.TO:
DCP.TO vs. DANC.TODCP.TO vs. DCS.TODCP.TO vs. DRFD.TODCP.TO vs. DRMD.TODCP.TO vs. DRFE.TODCP.TO vs. DRFG.TODCP.TO vs. DRFU.TO

Return for Risk

HYBR.TO vs. DCP.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HYBR.TO
HYBR.TO Risk / Return Rank: 9292
Overall Rank
HYBR.TO Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
HYBR.TO Sortino Ratio Rank: 8989
Sortino Ratio Rank
HYBR.TO Omega Ratio Rank: 8787
Omega Ratio Rank
HYBR.TO Calmar Ratio Rank: 9797
Calmar Ratio Rank
HYBR.TO Martin Ratio Rank: 9797
Martin Ratio Rank
DCP.TO
DCP.TO Risk / Return Rank: 9292
Overall Rank
DCP.TO Sharpe Ratio Rank: 9090
Sharpe Ratio Rank
DCP.TO Sortino Ratio Rank: 9090
Sortino Ratio Rank
DCP.TO Omega Ratio Rank: 9292
Omega Ratio Rank
DCP.TO Calmar Ratio Rank: 9494
Calmar Ratio Rank
DCP.TO Martin Ratio Rank: 9393
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.

HYBR.TO vs. DCP.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Active Hybrid Bond and Preferred Share ETF (HYBR.TO) and Desjardins Canadian Preferred Share Index ETF (DCP.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.

HYBR.TODCP.TODifference
Sharpe ratioReturn per unit of total volatility
2.21
2.33

-0.12

Sortino ratioReturn per unit of downside risk
3.22
3.32

-0.10

Omega ratioGain probability vs. loss probability

1.41

1.48

-0.07

Calmar ratioReturn relative to maximum drawdown

7.96

5.18

+2.78

Martin ratioReturn relative to average drawdown

30.00

18.20

+11.79

HYBR.TO vs. DCP.TO - Sharpe Ratio Comparison

The current HYBR.TO Sharpe Ratio is 2.21, which is comparable to the DCP.TO Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of HYBR.TO and DCP.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

HYBR.TO vs. DCP.TO - Drawdown Comparison

The maximum HYBR.TO drawdown since its inception was -46.65%, which is greater than DCP.TO's maximum drawdown of -43.09%. Use the drawdown chart below to compare losses from any high point for HYBR.TO and DCP.TO.

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Drawdown Indicators

HYBR.TODCP.TODifference

Max Drawdown

Largest peak-to-trough decline

-46.65%

-43.09%

-3.56%

Max Drawdown (1Y)

Largest decline over 1 year

-1.88%

-2.60%

+0.72%

Max Drawdown (3Y)

Largest decline over 3 years

-7.27%

-8.89%

+1.62%

Max Drawdown (5Y)

Largest decline over 5 years

-22.06%

-22.68%

+0.62%

Max Drawdown (10Y)

Largest decline over 10 years

-46.65%

—

—

Current Drawdown

Current decline from peak

-0.18%

0.00%

-0.18%

Average Drawdown

Average peak-to-trough decline

-7.94%

-6.86%

-1.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.50%

0.74%

-0.24%

Volatility

HYBR.TO vs. DCP.TO - Volatility Comparison

Global X Active Hybrid Bond and Preferred Share ETF (HYBR.TO) has a higher volatility of 2.27% compared to Desjardins Canadian Preferred Share Index ETF (DCP.TO) at 1.34%. This indicates that HYBR.TO's price experiences larger fluctuations and is considered to be riskier than DCP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HYBR.TODCP.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.27%

1.34%

+0.93%

Volatility (6M)

Calculated over the trailing 6-month period

4.53%

3.42%

+1.11%

Volatility (1Y)

Calculated over the trailing 1-year period

6.78%

5.77%

+1.01%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.45%

10.10%

+0.35%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.99%

12.47%

+0.52%

Dividends

HYBR.TO vs. DCP.TO - Dividend Comparison

HYBR.TO's dividend yield for the trailing twelve months is around 4.59%, less than DCP.TO's 4.81% yield.

PositionTTM20252024202320222021202020192018201720162015
DCP.TO
Desjardins Canadian Preferred Share Index ETF		4.81%4.66%4.63%4.98%5.25%4.15%4.90%5.08%5.16%3.02%0.00%0.00%
HYBR.TO
Global X Active Hybrid Bond and Preferred Share ETF		4.59%4.31%4.24%5.28%5.56%3.94%5.14%4.78%4.26%3.70%4.28%4.34%

Frequently Asked Questions

HYBR.TO and DCP.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.

They also come from different issuers: Global X and Desjardins.

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