RPF.TO vs. DIVS.TO

Last updated Aug 4, 2026

RPF.TO (RBC Canadian Preferred Share ETF) and DIVS.TO (Evolve Active Canadian Preferred Share Fund) are both exchange-traded funds - RPF.TO is a Preferred Stock fund actively managed by RBC, while DIVS.TO is a Actively Managed fund actively managed by Evolve. Both are actively managed. Over the past 5 years, RPF.TO returned 7.85%/yr vs 6.08%/yr for DIVS.TO. Their 0.47 correlation means their historical movements had little consistent relationship. RPF.TO charges 0.58%/yr vs 0.80%/yr for DIVS.TO.

Performance

RPF.TO vs. DIVS.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in RBC Canadian Preferred Share ETF (RPF.TO) and Evolve Active Canadian Preferred Share Fund (DIVS.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RPF.TO achieves a 9.10% return, which is significantly higher than DIVS.TO's 6.07% return.

RPF.TO

• 1D: 0.08%
• 1M: 2.27%
• 6M: 8.52%
• YTD: 9.10%
• 1Y: 16.80%
• 3Y*: 19.93%
• 5Y*: 7.85%
• 10Y*: —
• ALL TIME*: 7.90%

DIVS.TO

• 1D: 0.47%
• 1M: 2.38%
• 6M: 6.97%
• YTD: 6.07%
• 1Y: 12.79%
• 3Y*: 14.96%
• 5Y*: 6.08%
• 10Y*: —
• ALL TIME*: 4.10%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DIVS.TO Evolve Active Canadian Preferred Share Fund	CA$83.82K	CA$42.54K	CA$19.62K
RPF.TO RBC Canadian Preferred Share ETF	CA$201.24K	CA$184.61K	CA$187.73K

RPF.TO vs. DIVS.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RPF.TO RBC Canadian Preferred Share ETF	9.10%	19.23%	28.54%	3.28%	-18.37%	23.47%	6.47%	0.26%	-9.86%	3.16%
DIVS.TO Evolve Active Canadian Preferred Share Fund	6.07%	14.45%	20.78%	5.70%	-15.55%	19.87%	-1.19%	-1.14%	-9.96%	3.38%

Correlation

The correlation between RPF.TO and DIVS.TO is 0.18, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.18
Correlation (3Y) Balances recent behavior with more history.	0.26
Correlation (5Y) Shows whether the relationship held over a longer period.	0.35
Correlation (All Time) Calculated using the full available price history since Sep 29, 2017	0.47

Over the past year, the correlation between RPF.TO and DIVS.TO has dropped to 0.18 - well below their long-term average of 0.47, suggesting their price drivers have been diverging.

Return for Risk

RPF.TO vs. DIVS.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RPF.TO

RPF.TO Risk / Return Rank: 97
RPF.TO Sharpe Ratio Rank: 98
RPF.TO Sortino Ratio Rank: 97
RPF.TO Omega Ratio Rank: 97
RPF.TO Calmar Ratio Rank: 97
RPF.TO Martin Ratio Rank: 98

DIVS.TO

DIVS.TO Risk / Return Rank: 94
DIVS.TO Sharpe Ratio Rank: 91
DIVS.TO Sortino Ratio Rank: 93
DIVS.TO Omega Ratio Rank: 95
DIVS.TO Calmar Ratio Rank: 95
DIVS.TO Martin Ratio Rank: 95

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RPF.TO vs. DIVS.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for RBC Canadian Preferred Share ETF (RPF.TO) and Evolve Active Canadian Preferred Share Fund (DIVS.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.

	RPF.TO	DIVS.TO	Difference
Sharpe ratio: Return per unit of total volatility	3.72	2.43	+1.28
Sortino ratio: Return per unit of downside risk	5.36	3.67	+1.70
Omega ratio: Gain probability vs. loss probability	1.74	1.56	+0.19
Calmar ratio: Return relative to maximum drawdown	7.56	5.91	+1.65
Martin ratio: Return relative to average drawdown	41.29	22.62	+18.68

RPF.TO vs. DIVS.TO - Sharpe Ratio Comparison

The current RPF.TO Sharpe Ratio is 3.72, which is higher than the DIVS.TO Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of RPF.TO and DIVS.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

RPF.TO vs. DIVS.TO - Drawdown Comparison

The maximum RPF.TO drawdown since its inception was -45.68%, smaller than the maximum DIVS.TO drawdown of -49.95%. Use the drawdown chart below to compare losses from any high point for RPF.TO and DIVS.TO.

Drawdown Indicators

	RPF.TO	DIVS.TO	Difference
Max Drawdown Largest peak-to-trough decline	-45.68%	-49.95%	+4.27%
Max Drawdown (1Y) Largest decline over 1 year	-2.11%	-2.21%	+0.10%
Max Drawdown (3Y) Largest decline over 3 years	-8.71%	-6.50%	-2.21%
Max Drawdown (5Y) Largest decline over 5 years	-26.37%	-19.80%	-6.57%
Current Drawdown Current decline from peak	-0.04%	-0.02%	-0.02%
Average Drawdown Average peak-to-trough decline	-7.50%	-8.98%	+1.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.39%	0.58%	-0.19%

Volatility

RPF.TO vs. DIVS.TO - Volatility Comparison

The current volatility for RBC Canadian Preferred Share ETF (RPF.TO) is 1.33%, while Evolve Active Canadian Preferred Share Fund (DIVS.TO) has a volatility of 1.51%. This indicates that RPF.TO experiences smaller price fluctuations and is considered to be less risky than DIVS.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RPF.TO	DIVS.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.33%	1.51%	-0.18%
Volatility (6M) Calculated over the trailing 6-month period	2.95%	4.02%	-1.07%
Volatility (1Y) Calculated over the trailing 1-year period	4.34%	5.36%	-1.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.50%	7.65%	+0.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.25%	12.78%	-0.53%

RPF.TO vs. DIVS.TO - Expense Ratio Comparison

RPF.TO has a 0.58% expense ratio, which is lower than DIVS.TO's 0.80% expense ratio.

Dividends

RPF.TO vs. DIVS.TO - Dividend Comparison

RPF.TO's dividend yield for the trailing twelve months is around 4.87%, less than DIVS.TO's 4.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DIVS.TO Evolve Active Canadian Preferred Share Fund	4.96%	4.92%	5.30%	5.89%	5.87%	4.70%	5.37%	5.00%	4.70%	0.68%	0.00%
RPF.TO RBC Canadian Preferred Share ETF	4.87%	5.08%	5.48%	6.17%	5.65%	4.22%	5.24%	5.07%	4.52%	3.95%	1.10%

Frequently Asked Questions

Can I hold both RPF.TO and DIVS.TO in my portfolio?

RPF.TO and DIVS.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.

Which ETF is better, RPF.TO or DIVS.TO?

On fees, RPF.TO is cheaper at 0.58% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RPF.TO or DIVS.TO?

RPF.TO is cheaper with a 0.58% expense ratio, compared with 0.80% for DIVS.TO.

What is the main difference between RPF.TO and DIVS.TO?

RPF.TO is categorized as Preferred Stock, while DIVS.TO is Actively Managed. They also come from different issuers: RBC and Evolve. Their fees differ too: 0.58% for RPF.TO and 0.80% for DIVS.TO.