NPRF.TO vs. DXP.TO
NPRF.TO (NBI Active Canadian Preferred Shares ETF) and DXP.TO (Dynamic Active Preferred Shares ETF) are both Preferred Stock/Convertible Bonds funds. Both are actively managed. Over the past 5 years, NPRF.TO returned 6.29%/yr vs 8.14%/yr for DXP.TO. At a 0.38 correlation, their price movements are largely independent.
Performance
NPRF.TO vs. DXP.TO - Performance Comparison
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Returns By Period
In the year-to-date period, NPRF.TO achieves a 5.26% return, which is significantly lower than DXP.TO's 5.77% return.
NPRF.TO
- 1D
- 0.07%
- 1M
- 1.37%
- 6M
- 4.47%
- YTD
- 5.26%
- 1Y
- 7.83%
- 3Y*
- 16.89%
- 5Y*
- 6.29%
- 10Y*
- —
DXP.TO
- 1D
- 0.22%
- 1M
- 1.47%
- 6M
- 5.57%
- YTD
- 5.77%
- 1Y
- 12.88%
- 3Y*
- 18.51%
- 5Y*
- 8.14%
- 10Y*
- —
NPRF.TO vs. DXP.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
NPRF.TO NBI Active Canadian Preferred Shares ETF | 5.26% | 11.95% | 29.71% | 4.36% | -16.96% | 23.46% | 7.91% | 3.02% |
DXP.TO Dynamic Active Preferred Shares ETF | 5.77% | 17.64% | 25.73% | 8.22% | -16.46% | 27.89% | 5.67% | 3.07% |
Correlation
The correlation between NPRF.TO and DXP.TO is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2019 | 0.38 |
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Return for Risk
NPRF.TO vs. DXP.TO — Risk / Return Rank
NPRF.TO
DXP.TO
NPRF.TO vs. DXP.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NBI Active Canadian Preferred Shares ETF (NPRF.TO) and Dynamic Active Preferred Shares ETF (DXP.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.
| NPRF.TO | DXP.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.37 | ||
| Sortino ratioReturn per unit of downside risk | -3.78 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.66 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | 1.00 | 5.38 | -4.38 |
| Martin ratioReturn relative to average drawdown | 1.79 | 26.69 | -24.90 |
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Drawdowns
NPRF.TO vs. DXP.TO - Drawdown Comparison
The maximum NPRF.TO drawdown since its inception was -36.97%, smaller than the maximum DXP.TO drawdown of -40.72%. Use the drawdown chart below to compare losses from any high point for NPRF.TO and DXP.TO.
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Drawdown Indicators
| NPRF.TO | DXP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.97% | -40.72% | +3.75% |
Max Drawdown (1Y)Largest decline over 1 year | -7.85% | -2.40% | -5.45% |
Max Drawdown (3Y)Largest decline over 3 years | -7.85% | -8.30% | +0.45% |
Max Drawdown (5Y)Largest decline over 5 years | -24.68% | -20.11% | -4.57% |
Current DrawdownCurrent decline from peak | -2.78% | 0.00% | -2.78% |
Average DrawdownAverage peak-to-trough decline | -6.92% | -6.57% | -0.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.39% | 0.48% | +3.91% |
Volatility
NPRF.TO vs. DXP.TO - Volatility Comparison
NBI Active Canadian Preferred Shares ETF (NPRF.TO) has a higher volatility of 0.90% compared to Dynamic Active Preferred Shares ETF (DXP.TO) at 0.71%. This indicates that NPRF.TO's price experiences larger fluctuations and is considered to be riskier than DXP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NPRF.TO | DXP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.90% | 0.71% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 2.95% | 2.42% | +0.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.43% | 3.91% | +4.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.42% | 9.27% | +0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.29% | 12.18% | +0.11% |
Dividends
NPRF.TO vs. DXP.TO - Dividend Comparison
NPRF.TO's dividend yield for the trailing twelve months is around 4.52%, more than DXP.TO's 4.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DXP.TO Dynamic Active Preferred Shares ETF | 4.37% | 4.52% | 5.05% | 5.31% | 4.58% | 3.67% | 4.51% | 4.53% | 4.50% | 3.36% |
NPRF.TO NBI Active Canadian Preferred Shares ETF | 4.52% | 4.75% | 4.65% | 5.86% | 4.91% | 3.78% | 4.39% | 3.16% | 0.00% | 0.00% |
Frequently Asked Questions
NPRF.TO and DXP.TO have a correlation of 0.32, 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: NBI and Dynamic.
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