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TPRF.TO vs. DXP.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TPRF.TO vs. DXP.TO

Last updated Jun 24, 2026

TPRF.TO (TD Active Preferred Share ETF) and DXP.TO (Dynamic Active Preferred Shares ETF) are both Preferred Stock/Convertible Bonds funds. Both are actively managed. Over the past 5 years, TPRF.TO returned 8.62%/yr vs 8.00%/yr for DXP.TO. At a 0.44 correlation, their price movements are largely independent. TPRF.TO charges 0.50%/yr vs 0.64%/yr for DXP.TO.

Performance

TPRF.TO vs. DXP.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in TD Active Preferred Share ETF (TPRF.TO) and Dynamic Active Preferred Shares ETF (DXP.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, TPRF.TO achieves a 5.40% return, which is significantly higher than DXP.TO's 4.44% return.

TPRF.TO

1D
0.15%
1M
0.38%
YTD
5.40%
6M
5.69%
1Y
17.07%
3Y*
19.51%
5Y*
8.62%
10Y*
—

DXP.TO

1D
-0.04%
1M
0.25%
YTD
4.44%
6M
5.17%
1Y
14.53%
3Y*
17.89%
5Y*
8.00%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

TPRF.TO vs. DXP.TO - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
TPRF.TO
TD Active Preferred Share ETF		5.40%18.21%28.67%5.53%-15.46%31.78%4.65%12.00%-14.27%
DXP.TO
Dynamic Active Preferred Shares ETF		4.44%17.64%25.73%8.22%-16.46%27.89%5.67%3.94%-7.25%

Correlation

The correlation between TPRF.TO and DXP.TO is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.44

Correlation (3Y)
Calculated over the trailing 3-year period

0.41

Correlation (5Y)
Calculated over the trailing 5-year period

0.42

Correlation (All Time)
Calculated using the full available price history since Nov 14, 2018

0.44

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

TD Active Preferred Share ETF

Dynamic Active Preferred Shares ETF

Often compared with TPRF.TO:
TPRF.TO vs. HPR.TOTPRF.TO vs. ZPR.TOTPRF.TO vs. RPF.TOTPRF.TO vs. HLPR.TOTPRF.TO vs. TQCD.TOTPRF.TO vs. VSC.TOTPRF.TO vs. CPD.TO
Often compared with DXP.TO:
DXP.TO vs. SPLT.TODXP.TO vs. X.TODXP.TO vs. DXBB.TODXP.TO vs. DXU.TODXP.TO vs. RPF.TODXP.TO vs. DXMO.TODXP.TO vs. HYBR.TO

Return for Risk

TPRF.TO vs. DXP.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TPRF.TO
TPRF.TO Risk / Return Rank: 9696
Overall Rank
TPRF.TO Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
TPRF.TO Sortino Ratio Rank: 9797
Sortino Ratio Rank
TPRF.TO Omega Ratio Rank: 9797
Omega Ratio Rank
TPRF.TO Calmar Ratio Rank: 9494
Calmar Ratio Rank
TPRF.TO Martin Ratio Rank: 9797
Martin Ratio Rank
DXP.TO
DXP.TO Risk / Return Rank: 9595
Overall Rank
DXP.TO Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
DXP.TO Sortino Ratio Rank: 9797
Sortino Ratio Rank
DXP.TO Omega Ratio Rank: 9696
Omega Ratio Rank
DXP.TO Calmar Ratio Rank: 9393
Calmar Ratio Rank
DXP.TO Martin Ratio Rank: 9696
Martin Ratio Rank
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.

TPRF.TO vs. DXP.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TD Active Preferred Share ETF (TPRF.TO) and Dynamic Active Preferred Shares ETF (DXP.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.

TPRF.TODXP.TODifference
Sharpe ratioReturn per unit of total volatility
4.17
3.63

+0.54

Sortino ratioReturn per unit of downside risk
6.11
5.60

+0.51

Omega ratioGain probability vs. loss probability

1.92

1.74

+0.18

Calmar ratioReturn relative to maximum drawdown

6.89

6.07

+0.81

Martin ratioReturn relative to average drawdown

37.29

30.11

+7.17

TPRF.TO vs. DXP.TO - Sharpe Ratio Comparison

The current TPRF.TO Sharpe Ratio is 4.17, which is comparable to the DXP.TO Sharpe Ratio of 3.63. The chart below compares the historical Sharpe Ratios of TPRF.TO and DXP.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.

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Drawdowns

TPRF.TO vs. DXP.TO - Drawdown Comparison

The maximum TPRF.TO drawdown since its inception was -44.80%, which is greater than DXP.TO's maximum drawdown of -40.72%. Use the drawdown chart below to compare losses from any high point for TPRF.TO and DXP.TO.

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Drawdown Indicators

TPRF.TODXP.TODifference

Max Drawdown

Largest peak-to-trough decline

-44.80%

-40.72%

-4.08%

Max Drawdown (1Y)

Largest decline over 1 year

-2.49%

-2.40%

-0.09%

Max Drawdown (3Y)

Largest decline over 3 years

-8.39%

-8.30%

-0.09%

Max Drawdown (5Y)

Largest decline over 5 years

-23.90%

-20.11%

-3.79%

Current Drawdown

Current decline from peak

-0.08%

-0.04%

-0.04%

Average Drawdown

Average peak-to-trough decline

-7.58%

-6.61%

-0.97%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.46%

0.48%

-0.02%

Volatility

TPRF.TO vs. DXP.TO - Volatility Comparison

The current volatility for TD Active Preferred Share ETF (TPRF.TO) is 0.68%, while Dynamic Active Preferred Shares ETF (DXP.TO) has a volatility of 0.94%. This indicates that TPRF.TO experiences smaller price fluctuations and is considered to be less risky than DXP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TPRF.TODXP.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.68%

0.94%

-0.26%

Volatility (6M)

Calculated over the trailing 6-month period

2.53%

2.55%

-0.02%

Volatility (1Y)

Calculated over the trailing 1-year period

4.11%

4.02%

+0.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

9.65%

9.28%

+0.37%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.30%

12.22%

+3.08%

TPRF.TO vs. DXP.TO - Expense Ratio Comparison

TPRF.TO has a 0.50% expense ratio, which is lower than DXP.TO's 0.64% expense ratio.

Dividends

TPRF.TO vs. DXP.TO - Dividend Comparison

TPRF.TO's dividend yield for the trailing twelve months is around 4.49%, more than DXP.TO's 4.40% yield.

PositionTTM202520242023202220212020201920182017
DXP.TO
Dynamic Active Preferred Shares ETF		4.40%4.52%5.05%5.31%4.58%3.67%4.51%4.53%4.50%3.36%
TPRF.TO
TD Active Preferred Share ETF		4.49%4.36%4.56%5.74%4.99%4.04%5.09%5.05%0.00%0.00%

Frequently Asked Questions

TPRF.TO and DXP.TO have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, TPRF.TO is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

TPRF.TO is cheaper with a 0.50% expense ratio, compared with 0.64% for DXP.TO.

They also come from different issuers: TD and Dynamic. Their fees differ too: 0.50% for TPRF.TO and 0.64% for DXP.TO.

Portfolio Optimizer

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