NALT.TO vs. NPRF.TO
NALT.TO (NBI Liquid Alternatives ETF) and NPRF.TO (NBI Active Canadian Preferred Shares ETF) are both exchange-traded funds - NALT.TO is a Alternatives fund actively managed by NBI, while NPRF.TO is a Preferred Stock/Convertible Bonds fund actively managed by NBI. Both are actively managed. Over the past 5 years, NALT.TO returned 2.52%/yr vs 6.29%/yr for NPRF.TO. At a 0.01 correlation, their price movements are largely independent.
Performance
NALT.TO vs. NPRF.TO - Performance Comparison
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Returns By Period
In the year-to-date period, NALT.TO achieves a 8.09% return, which is significantly higher than NPRF.TO's 5.26% return.
NALT.TO
- 1D
- 0.49%
- 1M
- -0.13%
- 6M
- 5.20%
- YTD
- 8.09%
- 1Y
- 12.72%
- 3Y*
- 2.22%
- 5Y*
- 2.52%
- 10Y*
- —
NPRF.TO
- 1D
- 0.07%
- 1M
- 1.37%
- 6M
- 4.47%
- YTD
- 5.26%
- 1Y
- 7.83%
- 3Y*
- 16.89%
- 5Y*
- 6.29%
- 10Y*
- —
NALT.TO vs. NPRF.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
NALT.TO NBI Liquid Alternatives ETF | 8.09% | 2.48% | -2.84% | -0.41% | 8.72% | 6.50% | 10.45% | 6.07% |
NPRF.TO NBI Active Canadian Preferred Shares ETF | 5.26% | 11.95% | 29.71% | 4.36% | -16.96% | 23.46% | 7.91% | 3.02% |
Correlation
The correlation between NALT.TO and NPRF.TO is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2019 | 0.01 |
The correlation between NALT.TO and NPRF.TO shifts across timeframes, from -0.15 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NALT.TO vs. NPRF.TO — Risk / Return Rank
NALT.TO
NPRF.TO
NALT.TO vs. NPRF.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NBI Liquid Alternatives ETF (NALT.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.
| NALT.TO | NPRF.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.28 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.04 | 1.00 | +1.04 |
| Martin ratioReturn relative to average drawdown | 4.17 | 1.79 | +2.38 |
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Drawdowns
NALT.TO vs. NPRF.TO - Drawdown Comparison
The maximum NALT.TO drawdown since its inception was -21.56%, smaller than the maximum NPRF.TO drawdown of -36.97%. Use the drawdown chart below to compare losses from any high point for NALT.TO and NPRF.TO.
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Drawdown Indicators
| NALT.TO | NPRF.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.56% | -36.97% | +15.41% |
Max Drawdown (1Y)Largest decline over 1 year | -6.25% | -7.85% | +1.60% |
Max Drawdown (3Y)Largest decline over 3 years | -13.39% | -7.85% | -5.54% |
Max Drawdown (5Y)Largest decline over 5 years | -15.00% | -24.68% | +9.68% |
Current DrawdownCurrent decline from peak | -4.33% | -2.78% | -1.55% |
Average DrawdownAverage peak-to-trough decline | -4.92% | -6.92% | +2.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.06% | 4.39% | -1.33% |
Volatility
NALT.TO vs. NPRF.TO - Volatility Comparison
NBI Liquid Alternatives ETF (NALT.TO) has a higher volatility of 1.76% compared to NBI Active Canadian Preferred Shares ETF (NPRF.TO) at 0.90%. This indicates that NALT.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
| NALT.TO | NPRF.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.76% | 0.90% | +0.86% |
Volatility (6M)Calculated over the trailing 6-month period | 6.77% | 2.95% | +3.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.64% | 8.43% | +2.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.98% | 9.42% | -0.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.67% | 12.29% | +0.38% |
Dividends
NALT.TO vs. NPRF.TO - Dividend Comparison
NALT.TO's dividend yield for the trailing twelve months is around 5.50%, more than NPRF.TO's 4.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
NALT.TO NBI Liquid Alternatives ETF | 5.50% | 2.03% | 2.40% | 1.59% | 0.95% | 5.85% | 6.98% | 0.50% |
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
NALT.TO and NPRF.TO have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NALT.TO is categorized as Alternatives, while NPRF.TO is Preferred Stock/Convertible Bonds.
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