PFD vs. FTS-PH.TO

Last updated Jul 14, 2026

PFD (Flaherty & Crumrine Preferred Income Fund) is Preferred Stock/Convertible Bonds fund actively managed by Flaherty & Crumrine, while FTS-PH.TO (Fortis Inc.) is a stock. Over the past 10 years, PFD returned 3.75%/yr vs 6.80%/yr for FTS-PH.TO. At a 0.07 correlation, their price movements are largely independent.

Performance

PFD vs. FTS-PH.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Flaherty & Crumrine Preferred Income Fund (PFD) and Fortis Inc. (FTS-PH.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

PFD is traded in USD, while FTS-PH.TO is traded in CAD. To make them comparable, the FTS-PH.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, PFD achieves a 0.52% return, which is significantly lower than FTS-PH.TO's 5.42% return. Over the past 10 years, PFD has underperformed FTS-PH.TO with an annualized return of 3.75%, while FTS-PH.TO has yielded a comparatively higher 6.80% annualized return.

PFD

• 1D: -0.17%
• 1M: 1.57%
• 6M: 0.35%
• YTD: 0.52%
• 1Y: 8.11%
• 3Y*: 12.61%
• 5Y*: -0.65%
• 10Y*: 3.75%

FTS-PH.TO

• 1D: -0.06%
• 1M: -2.98%
• 6M: 5.83%
• YTD: 5.42%
• 1Y: 14.14%
• 3Y*: 17.80%
• 5Y*: 6.27%
• 10Y*: 6.80%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PFD vs. FTS-PH.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PFD Flaherty & Crumrine Preferred Income Fund	0.52%	12.96%	21.69%	-4.87%	-31.92%	-2.03%	29.67%	43.46%	-17.25%	10.69%
FTS-PH.TO Fortis Inc.	5.42%	26.46%	19.51%	13.52%	-30.24%	57.80%	-11.29%	-2.14%	-20.25%	41.84%

Correlation

The correlation between PFD and FTS-PH.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	0.12
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (10Y) Calculated over the trailing 10-year period	0.08
Correlation (All Time) Calculated using the full available price history since Jul 26, 2010	0.07

The correlation between PFD and FTS-PH.TO shifts across timeframes, from 0.01 (1 year) to 0.12 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

PFD vs. FTS-PH.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PFD

PFD Risk / Return Rank: 18
PFD Sharpe Ratio Rank: 20
PFD Sortino Ratio Rank: 17
PFD Omega Ratio Rank: 21
PFD Calmar Ratio Rank: 16
PFD Martin Ratio Rank: 17

FTS-PH.TO

FTS-PH.TO Risk / Return Rank: 89
FTS-PH.TO Sharpe Ratio Rank: 88
FTS-PH.TO Sortino Ratio Rank: 86
FTS-PH.TO Omega Ratio Rank: 87
FTS-PH.TO Calmar Ratio Rank: 89
FTS-PH.TO Martin Ratio Rank: 93

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.

PFD vs. FTS-PH.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Flaherty & Crumrine Preferred Income Fund (PFD) and Fortis Inc. (FTS-PH.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.

	PFD	FTS-PH.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.92	1.16	-0.23
Sortino ratio: Return per unit of downside risk	1.26	1.75	-0.49
Omega ratio: Gain probability vs. loss probability	1.18	1.21	-0.03
Calmar ratio: Return relative to maximum drawdown	1.01	1.73	-0.72
Martin ratio: Return relative to average drawdown	3.21	6.14	-2.93

PFD vs. FTS-PH.TO - Sharpe Ratio Comparison

The current PFD Sharpe Ratio is 0.92, which is comparable to the FTS-PH.TO Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of PFD and FTS-PH.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.

Drawdowns

PFD vs. FTS-PH.TO - Drawdown Comparison

The maximum PFD drawdown since its inception was -81.70%, which is greater than FTS-PH.TO's maximum drawdown of -69.92%. Use the drawdown chart below to compare losses from any high point for PFD and FTS-PH.TO.

Drawdown Indicators

	PFD	FTS-PH.TO	Difference
Max Drawdown Largest peak-to-trough decline	-81.70%	-69.92%	-11.78%
Max Drawdown (1Y) Largest decline over 1 year	-8.05%	-8.21%	+0.16%
Max Drawdown (3Y) Largest decline over 3 years	-14.29%	-14.84%	+0.55%
Max Drawdown (5Y) Largest decline over 5 years	-45.60%	-39.81%	-5.79%
Max Drawdown (10Y) Largest decline over 10 years	-53.39%	-58.64%	+5.25%
Current Drawdown Current decline from peak	-20.16%	-7.49%	-12.67%
Average Drawdown Average peak-to-trough decline	-17.24%	-31.69%	+14.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	2.31%	+0.22%

Volatility

PFD vs. FTS-PH.TO - Volatility Comparison

The current volatility for Flaherty & Crumrine Preferred Income Fund (PFD) is 1.93%, while Fortis Inc. (FTS-PH.TO) has a volatility of 3.43%. This indicates that PFD experiences smaller price fluctuations and is considered to be less risky than FTS-PH.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PFD	FTS-PH.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.93%	3.43%	-1.50%
Volatility (6M) Calculated over the trailing 6-month period	6.65%	9.48%	-2.83%
Volatility (1Y) Calculated over the trailing 1-year period	8.84%	12.29%	-3.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.47%	19.16%	-2.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.48%	22.66%	+0.82%

Dividends

PFD vs. FTS-PH.TO - Dividend Comparison

PFD's dividend yield for the trailing twelve months is around 7.00%, more than FTS-PH.TO's 5.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTS-PH.TO Fortis Inc.	5.17%	3.96%	2.79%	3.51%	3.75%	2.70%	4.88%	4.63%	4.15%	3.46%	4.41%	7.57%
PFD Flaherty & Crumrine Preferred Income Fund	7.00%	6.47%	6.46%	6.94%	7.97%	5.82%	5.09%	5.85%	8.14%	6.85%	7.44%	8.36%

Frequently Asked Questions

Can I hold both PFD and FTS-PH.TO in my portfolio?

PFD and FTS-PH.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.