PREF.TO vs. XPF.TO
PREF.TO (Quadravest Preferred Split Share ETF) and XPF.TO (iShares S&P/TSX North American Preferred Stock Index ETF (CAD-Hedged)) are both Preferred Stock/Convertible Bonds funds. PREF.TO is actively managed, while XPF.TO is passively managed. Over the past year, PREF.TO returned 6.22% vs 5.32% for XPF.TO. At a 0.17 correlation, their price movements are largely independent.
Performance
PREF.TO vs. XPF.TO - Performance Comparison
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Returns By Period
In the year-to-date period, PREF.TO achieves a 3.47% return, which is significantly higher than XPF.TO's 1.55% return.
PREF.TO
- 1D
- 0.09%
- 1M
- 0.08%
- 6M
- 4.76%
- YTD
- 3.47%
- 1Y
- 6.22%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XPF.TO
- 1D
- -0.45%
- 1M
- -0.90%
- 6M
- 0.16%
- YTD
- 1.55%
- 1Y
- 5.32%
- 3Y*
- 10.06%
- 5Y*
- 2.28%
- 10Y*
- 3.86%
PREF.TO vs. XPF.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
PREF.TO Quadravest Preferred Split Share ETF | 3.47% | 6.77% | 9.28% |
XPF.TO iShares S&P/TSX North American Preferred Stock Index ETF (CAD-Hedged) | 1.55% | 9.33% | 5.93% |
Correlation
The correlation between PREF.TO and XPF.TO is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2024 | 0.17 |
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Return for Risk
PREF.TO vs. XPF.TO — Risk / Return Rank
PREF.TO
XPF.TO
PREF.TO vs. XPF.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Quadravest Preferred Split Share ETF (PREF.TO) and iShares S&P/TSX North American Preferred Stock Index ETF (CAD-Hedged) (XPF.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.
| PREF.TO | XPF.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.58 | ||
| Sortino ratioReturn per unit of downside risk | +0.82 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.17 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 4.16 | 1.39 | +2.77 |
| Martin ratioReturn relative to average drawdown | 9.83 | 4.63 | +5.20 |
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Drawdowns
PREF.TO vs. XPF.TO - Drawdown Comparison
The maximum PREF.TO drawdown since its inception was -6.24%, smaller than the maximum XPF.TO drawdown of -43.52%. Use the drawdown chart below to compare losses from any high point for PREF.TO and XPF.TO.
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Drawdown Indicators
| PREF.TO | XPF.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.24% | -43.52% | +37.28% |
Max Drawdown (1Y)Largest decline over 1 year | -1.50% | -3.84% | +2.34% |
Max Drawdown (3Y)Largest decline over 3 years | — | -7.54% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.67% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.52% | — |
Current DrawdownCurrent decline from peak | -0.30% | -1.46% | +1.16% |
Average DrawdownAverage peak-to-trough decline | -0.75% | -4.73% | +3.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.63% | 1.15% | -0.52% |
Volatility
PREF.TO vs. XPF.TO - Volatility Comparison
The current volatility for Quadravest Preferred Split Share ETF (PREF.TO) is 1.23%, while iShares S&P/TSX North American Preferred Stock Index ETF (CAD-Hedged) (XPF.TO) has a volatility of 2.11%. This indicates that PREF.TO experiences smaller price fluctuations and is considered to be less risky than XPF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PREF.TO | XPF.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 2.11% | -0.88% |
Volatility (6M)Calculated over the trailing 6-month period | 2.87% | 4.68% | -1.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.05% | 5.55% | -1.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.19% | 8.57% | -3.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.19% | 14.39% | -9.20% |
Dividends
PREF.TO vs. XPF.TO - Dividend Comparison
PREF.TO's dividend yield for the trailing twelve months is around 6.59%, more than XPF.TO's 5.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PREF.TO Quadravest Preferred Split Share ETF | 6.59% | 6.60% | 3.18% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XPF.TO iShares S&P/TSX North American Preferred Stock Index ETF (CAD-Hedged) | 5.23% | 5.08% | 5.21% | 5.74% | 5.46% | 4.30% | 4.95% | 5.12% | 4.94% | 4.59% | 5.14% | 5.11% |
Frequently Asked Questions
PREF.TO and XPF.TO have a correlation of 0.14, 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: Quadravest and iShares.
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