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

NPRF.TO vs. HLPR.TO

Last updated Jul 16, 2026
Documentation

NPRF.TO (NBI Active Canadian Preferred Shares ETF) and HLPR.TO (Global X Laddered Canadian Preferred Share Index Corporate Class ETF) are both Preferred Stock/Convertible Bonds funds. NPRF.TO is actively managed, while HLPR.TO is passively managed. Over the past 5 years, NPRF.TO returned 6.29%/yr vs 7.70%/yr for HLPR.TO. At a 0.49 correlation, their price movements are largely independent.

Performance

NPRF.TO vs. HLPR.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in NBI Active Canadian Preferred Shares ETF (NPRF.TO) and Global X Laddered Canadian Preferred Share Index Corporate Class ETF (HLPR.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, NPRF.TO achieves a 5.26% return, which is significantly lower than HLPR.TO's 8.38% 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*
—

HLPR.TO

1D
0.63%
1M
1.87%
6M
7.50%
YTD
8.38%
1Y
16.61%
3Y*
19.84%
5Y*
7.70%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)2025202420232022202120202019
NPRF.TO
NBI Active Canadian Preferred Shares ETF		5.26%11.95%29.71%4.36%-16.96%23.46%7.91%2.87%
HLPR.TO
Global X Laddered Canadian Preferred Share Index Corporate Class ETF		8.38%18.79%28.13%2.89%-17.83%23.17%6.42%0.80%

Correlation

The correlation between NPRF.TO and HLPR.TO is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.27

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

0.39

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

0.46

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

0.49

Over the past year, the correlation between NPRF.TO and HLPR.TO has dropped to 0.27 - well below their long-term average of 0.49, suggesting their price drivers have been diverging.

Compare stocks, funds, or ETFs

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NBI Active Canadian Preferred Shares ETF

Global X Laddered Canadian Preferred Share Index Corporate Class 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

Return for Risk

NPRF.TO vs. HLPR.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
NPRF.TO
NPRF.TO Risk / Return Rank: 3131
Overall Rank
NPRF.TO Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
NPRF.TO Sortino Ratio Rank: 2626
Sortino Ratio Rank
NPRF.TO Omega Ratio Rank: 5555
Omega Ratio Rank
NPRF.TO Calmar Ratio Rank: 2424
Calmar Ratio Rank
NPRF.TO Martin Ratio Rank: 2020
Martin Ratio Rank
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
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.

NPRF.TO vs. HLPR.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 Global X Laddered Canadian Preferred Share Index Corporate Class ETF (HLPR.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.TOHLPR.TODifference
Sharpe ratioReturn per unit of total volatility
0.93
3.83

-2.90

Sortino ratioReturn per unit of downside risk
1.26
5.37

-4.11

Omega ratioGain probability vs. loss probability

1.28

1.84

-0.56

Calmar ratioReturn relative to maximum drawdown

1.00

6.71

-5.71

Martin ratioReturn relative to average drawdown

1.79

38.37

-36.59

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

The current NPRF.TO Sharpe Ratio is 0.93, which is lower than the HLPR.TO Sharpe Ratio of 3.83. The chart below compares the historical Sharpe Ratios of NPRF.TO and HLPR.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

NPRF.TO vs. HLPR.TO - Drawdown Comparison

The maximum NPRF.TO drawdown since its inception was -36.97%, smaller than the maximum HLPR.TO drawdown of -38.96%. Use the drawdown chart below to compare losses from any high point for NPRF.TO and HLPR.TO.

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Drawdown Indicators

NPRF.TOHLPR.TODifference

Max Drawdown

Largest peak-to-trough decline

-36.97%

-38.96%

+1.99%

Max Drawdown (1Y)

Largest decline over 1 year

-7.85%

-2.49%

-5.36%

Max Drawdown (3Y)

Largest decline over 3 years

-7.85%

-9.88%

+2.03%

Max Drawdown (5Y)

Largest decline over 5 years

-24.68%

-26.79%

+2.11%

Current Drawdown

Current decline from peak

-2.78%

0.00%

-2.78%

Average Drawdown

Average peak-to-trough decline

-6.92%

-6.47%

-0.45%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.39%

0.43%

+3.96%

Volatility

NPRF.TO vs. HLPR.TO - Volatility Comparison

The current volatility for NBI Active Canadian Preferred Shares ETF (NPRF.TO) is 0.90%, while Global X Laddered Canadian Preferred Share Index Corporate Class ETF (HLPR.TO) has a volatility of 1.15%. This indicates that NPRF.TO experiences smaller price fluctuations and is considered to be less risky than HLPR.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.TOHLPR.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.90%

1.15%

-0.25%

Volatility (6M)

Calculated over the trailing 6-month period

2.95%

2.88%

+0.07%

Volatility (1Y)

Calculated over the trailing 1-year period

8.43%

4.37%

+4.06%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

9.42%

8.35%

+1.07%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.29%

13.01%

-0.72%

Dividends

NPRF.TO vs. HLPR.TO - Dividend Comparison

NPRF.TO's dividend yield for the trailing twelve months is around 4.52%, while HLPR.TO has not paid dividends to shareholders.

PositionTTM2025202420232022202120202019
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%
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

NPRF.TO and HLPR.TO have a correlation of 0.27, 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 Global X.

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