NPRF.TO vs. PR.TO
NPRF.TO (NBI Active Canadian Preferred Shares ETF) and PR.TO (Lysander-Slater Preferred Share ActivETF) are both Preferred Stock/Convertible Bonds funds. Both are actively managed. Over the past 5 years, NPRF.TO returned 6.29%/yr vs 5.44%/yr for PR.TO. At a 0.36 correlation, their price movements are largely independent.
Performance
NPRF.TO vs. PR.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 higher than PR.TO's 3.38% 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*
- —
PR.TO
- 1D
- 0.00%
- 1M
- 1.08%
- 6M
- 3.48%
- YTD
- 3.38%
- 1Y
- 8.63%
- 3Y*
- 14.87%
- 5Y*
- 5.44%
- 10Y*
- 5.99%
NPRF.TO vs. PR.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% |
PR.TO Lysander-Slater Preferred Share ActivETF | 3.38% | 11.10% | 24.22% | 7.90% | -18.17% | 28.22% | -0.17% | 1.24% |
Correlation
The correlation between NPRF.TO and PR.TO is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2019 | 0.36 |
Over the past year, the correlation between NPRF.TO and PR.TO has dropped to 0.15 - well below their long-term average of 0.36, suggesting their price drivers have been diverging.
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Return for Risk
NPRF.TO vs. PR.TO — Risk / Return Rank
NPRF.TO
PR.TO
NPRF.TO vs. PR.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 Lysander-Slater Preferred Share ActivETF (PR.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 | PR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.36 | ||
| Sortino ratioReturn per unit of downside risk | -2.28 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.47 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.00 | 6.09 | -5.09 |
| Martin ratioReturn relative to average drawdown | 1.79 | 22.15 | -20.36 |
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Drawdowns
NPRF.TO vs. PR.TO - Drawdown Comparison
The maximum NPRF.TO drawdown since its inception was -36.97%, smaller than the maximum PR.TO drawdown of -45.17%. Use the drawdown chart below to compare losses from any high point for NPRF.TO and PR.TO.
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Drawdown Indicators
| NPRF.TO | PR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.97% | -45.17% | +8.20% |
Max Drawdown (1Y)Largest decline over 1 year | -7.85% | -1.44% | -6.41% |
Max Drawdown (3Y)Largest decline over 3 years | -7.85% | -4.62% | -3.23% |
Max Drawdown (5Y)Largest decline over 5 years | -24.68% | -21.39% | -3.29% |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.17% | — |
Current DrawdownCurrent decline from peak | -2.78% | 0.00% | -2.78% |
Average DrawdownAverage peak-to-trough decline | -6.92% | -7.18% | +0.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.39% | 0.40% | +3.99% |
Volatility
NPRF.TO vs. PR.TO - Volatility Comparison
NBI Active Canadian Preferred Shares ETF (NPRF.TO) has a higher volatility of 0.90% compared to Lysander-Slater Preferred Share ActivETF (PR.TO) at 0.79%. This indicates that NPRF.TO's price experiences larger fluctuations and is considered to be riskier than PR.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 | PR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.90% | 0.79% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 2.95% | 2.67% | +0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.43% | 3.98% | +4.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.42% | 8.58% | +0.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.29% | 11.52% | +0.77% |
Dividends
NPRF.TO vs. PR.TO - Dividend Comparison
NPRF.TO's dividend yield for the trailing twelve months is around 4.52%, less than PR.TO's 5.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
PR.TO Lysander-Slater Preferred Share ActivETF | 5.00% | 4.85% | 4.49% | 4.80% | 4.71% | 3.85% | 4.79% | 4.69% | 4.97% | 6.73% | 3.68% | 1.17% |
Frequently Asked Questions
NPRF.TO and PR.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.
They also come from different issuers: NBI and Lysander.
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