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

NPRF.TO vs. HYBR.TO

Last updated Jul 16, 2026
Documentation

NPRF.TO (NBI Active Canadian Preferred Shares ETF) and HYBR.TO (Global X Active Hybrid Bond and Preferred Share ETF) are both Preferred Stock/Convertible Bonds funds. Both are actively managed. Over the past 5 years, NPRF.TO returned 6.29%/yr vs 8.60%/yr for HYBR.TO. At a 0.30 correlation, their price movements are largely independent.

Performance

NPRF.TO vs. HYBR.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 Active Hybrid Bond and Preferred Share ETF (HYBR.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 HYBR.TO's 6.98% 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*
—

HYBR.TO

1D
0.27%
1M
1.48%
6M
6.59%
YTD
6.98%
1Y
15.87%
3Y*
19.88%
5Y*
8.60%
10Y*
8.58%
*Multi-year figures are annualized to reflect compound growth (CAGR)

NPRF.TO vs. HYBR.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%3.02%
HYBR.TO
Global X Active Hybrid Bond and Preferred Share ETF		6.98%17.73%27.83%6.98%-15.95%26.17%5.51%1.08%

Correlation

The correlation between NPRF.TO and HYBR.TO is 0.01, 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

0.01

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

0.14

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

0.25

Correlation (All Time)
Calculated using the full available price history since Feb 8, 2019

0.30

Over the past year, the correlation between NPRF.TO and HYBR.TO has dropped to 0.01 - well below their long-term average of 0.30, suggesting their price drivers have been diverging.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

NBI Active Canadian Preferred Shares ETF

Global X Active Hybrid Bond and Preferred Share ETF

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Return for Risk

NPRF.TO vs. HYBR.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
HYBR.TO
HYBR.TO Risk / Return Rank: 9292
Overall Rank
HYBR.TO Sharpe Ratio Rank: 8989
Sharpe Ratio Rank
HYBR.TO Sortino Ratio Rank: 9090
Sortino Ratio Rank
HYBR.TO Omega Ratio Rank: 8888
Omega Ratio Rank
HYBR.TO Calmar Ratio Rank: 9797
Calmar Ratio Rank
HYBR.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. HYBR.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 Active Hybrid Bond and Preferred Share ETF (HYBR.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.TOHYBR.TODifference
Sharpe ratioReturn per unit of total volatility
0.93
2.35

-1.42

Sortino ratioReturn per unit of downside risk
1.26
3.43

-2.17

Omega ratioGain probability vs. loss probability

1.28

1.44

-0.16

Calmar ratioReturn relative to maximum drawdown

1.00

8.49

-7.49

Martin ratioReturn relative to average drawdown

1.79

32.03

-30.25

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

The current NPRF.TO Sharpe Ratio is 0.93, which is lower than the HYBR.TO Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of NPRF.TO and HYBR.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. HYBR.TO - Drawdown Comparison

The maximum NPRF.TO drawdown since its inception was -36.97%, smaller than the maximum HYBR.TO drawdown of -46.65%. Use the drawdown chart below to compare losses from any high point for NPRF.TO and HYBR.TO.

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Drawdown Indicators

NPRF.TOHYBR.TODifference

Max Drawdown

Largest peak-to-trough decline

-36.97%

-46.65%

+9.68%

Max Drawdown (1Y)

Largest decline over 1 year

-7.85%

-1.88%

-5.97%

Max Drawdown (3Y)

Largest decline over 3 years

-7.85%

-7.27%

-0.58%

Max Drawdown (5Y)

Largest decline over 5 years

-24.68%

-22.06%

-2.62%

Max Drawdown (10Y)

Largest decline over 10 years

—

-46.65%

—

Current Drawdown

Current decline from peak

-2.78%

0.00%

-2.78%

Average Drawdown

Average peak-to-trough decline

-6.92%

-7.94%

+1.02%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.39%

0.50%

+3.89%

Volatility

NPRF.TO vs. HYBR.TO - Volatility Comparison

The current volatility for NBI Active Canadian Preferred Shares ETF (NPRF.TO) is 0.90%, while Global X Active Hybrid Bond and Preferred Share ETF (HYBR.TO) has a volatility of 2.20%. This indicates that NPRF.TO experiences smaller price fluctuations and is considered to be less risky than HYBR.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.TOHYBR.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.90%

2.20%

-1.30%

Volatility (6M)

Calculated over the trailing 6-month period

2.95%

4.50%

-1.55%

Volatility (1Y)

Calculated over the trailing 1-year period

8.43%

6.78%

+1.65%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

9.42%

10.45%

-1.03%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.29%

12.99%

-0.70%

Dividends

NPRF.TO vs. HYBR.TO - Dividend Comparison

NPRF.TO's dividend yield for the trailing twelve months is around 4.52%, less than HYBR.TO's 4.58% yield.

PositionTTM20252024202320222021202020192018201720162015
HYBR.TO
Global X Active Hybrid Bond and Preferred Share ETF		4.58%4.31%4.24%5.28%5.56%3.94%5.14%4.78%4.26%3.70%4.28%4.34%
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%0.00%0.00%

Frequently Asked Questions

NPRF.TO and HYBR.TO have a correlation of 0.01, 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.

Portfolio Optimizer

Find the right allocation for NPRF.TO and HYBR.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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