PREF.TO vs. ZPR.TO
PREF.TO (Quadravest Preferred Split Share ETF) and ZPR.TO (BMO Laddered Preferred Share Index ETF) are both Preferred Stock/Convertible Bonds funds. PREF.TO is actively managed, while ZPR.TO is passively managed. Over the past year, PREF.TO returned 6.02% vs 16.61% for ZPR.TO. At a 0.18 correlation, their price movements are largely independent.
Performance
PREF.TO vs. ZPR.TO - Performance Comparison
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Returns By Period
In the year-to-date period, PREF.TO achieves a 3.18% return, which is significantly lower than ZPR.TO's 8.16% return.
PREF.TO
- 1D
- 0.00%
- 1M
- -0.39%
- 6M
- 3.96%
- YTD
- 3.18%
- 1Y
- 6.02%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZPR.TO
- 1D
- 0.39%
- 1M
- 1.94%
- 6M
- 7.55%
- YTD
- 8.16%
- 1Y
- 16.61%
- 3Y*
- 20.09%
- 5Y*
- 8.35%
- 10Y*
- 8.41%
PREF.TO vs. ZPR.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
PREF.TO Quadravest Preferred Split Share ETF | 3.18% | 6.77% | 9.28% |
ZPR.TO BMO Laddered Preferred Share Index ETF | 8.16% | 18.58% | 11.50% |
Correlation
The correlation between PREF.TO and ZPR.TO is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2024 | 0.18 |
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Return for Risk
PREF.TO vs. ZPR.TO — Risk / Return Rank
PREF.TO
ZPR.TO
PREF.TO vs. ZPR.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Quadravest Preferred Split Share ETF (PREF.TO) and BMO Laddered Preferred Share Index ETF (ZPR.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 | ZPR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.39 | ||
| Sortino ratioReturn per unit of downside risk | -3.73 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.81 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | 4.02 | 6.76 | -2.74 |
| Martin ratioReturn relative to average drawdown | 9.52 | 38.57 | -29.05 |
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Drawdowns
PREF.TO vs. ZPR.TO - Drawdown Comparison
The maximum PREF.TO drawdown since its inception was -6.24%, smaller than the maximum ZPR.TO drawdown of -44.72%. Use the drawdown chart below to compare losses from any high point for PREF.TO and ZPR.TO.
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Drawdown Indicators
| PREF.TO | ZPR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.24% | -44.72% | +38.48% |
Max Drawdown (1Y)Largest decline over 1 year | -1.50% | -2.47% | +0.97% |
Max Drawdown (3Y)Largest decline over 3 years | — | -8.75% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.06% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -44.13% | — |
Current DrawdownCurrent decline from peak | -0.58% | 0.00% | -0.58% |
Average DrawdownAverage peak-to-trough decline | -0.75% | -9.21% | +8.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.63% | 0.43% | +0.20% |
Volatility
PREF.TO vs. ZPR.TO - Volatility Comparison
Quadravest Preferred Split Share ETF (PREF.TO) has a higher volatility of 1.23% compared to BMO Laddered Preferred Share Index ETF (ZPR.TO) at 0.88%. This indicates that PREF.TO's price experiences larger fluctuations and is considered to be riskier than ZPR.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 | ZPR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 0.88% | +0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 2.90% | 2.69% | +0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.05% | 4.30% | -0.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.20% | 8.32% | -3.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.20% | 11.42% | -6.22% |
Dividends
PREF.TO vs. ZPR.TO - Dividend Comparison
PREF.TO's dividend yield for the trailing twelve months is around 6.61%, more than ZPR.TO's 5.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PREF.TO Quadravest Preferred Split Share ETF | 6.61% | 6.60% | 3.18% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZPR.TO BMO Laddered Preferred Share Index ETF | 5.04% | 4.86% | 4.93% | 5.92% | 5.97% | 4.66% | 5.48% | 5.09% | 4.82% | 4.08% | 5.14% | 5.65% |
Frequently Asked Questions
PREF.TO and ZPR.TO have a correlation of 0.18, 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 BMO.
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