TPRF.TO vs. PMIF.TO

Last updated Jun 4, 2026

TPRF.TO (TD Active Preferred Share ETF) and PMIF.TO (PIMCO Monthly Income Fund (Canada)) are both exchange-traded funds - TPRF.TO is a Preferred Stock/Convertible Bonds fund actively managed by TD, while PMIF.TO is a fund fund. Over the past 5 years, TPRF.TO returned 10.05%/yr vs 3.16%/yr for PMIF.TO. At a 0.12 correlation, their price movements are largely independent.

Performance

TPRF.TO vs. PMIF.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 PIMCO Monthly Income Fund (Canada) (PMIF.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TPRF.TO achieves a 5.07% return, which is significantly higher than PMIF.TO's 0.10% return.

TPRF.TO

• 1D: -0.08%
• 1M: 1.32%
• YTD: 5.07%
• 6M: 6.46%
• 1Y: 17.52%
• 3Y*: 19.71%
• 5Y*: 10.05%
• 10Y*: —

PMIF.TO

• 1D: -0.17%
• 1M: 0.49%
• YTD: 0.10%
• 6M: 0.42%
• 1Y: 6.74%
• 3Y*: 6.44%
• 5Y*: 3.16%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
TPRF.TO TD Active Preferred Share ETF	5.07%	18.21%	28.68%	5.53%	-11.31%	37.88%	11.44%	17.78%	-13.58%
PMIF.TO PIMCO Monthly Income Fund (Canada)	0.10%	9.01%	5.20%	7.58%	-6.32%	1.90%	3.93%	7.09%	0.79%

Correlation

The correlation between TPRF.TO and PMIF.TO is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (5Y) Calculated over the trailing 5-year period	0.13
Correlation (All Time) Calculated using the full available price history since Nov 15, 2018	0.12

The correlation between TPRF.TO and PMIF.TO shifts across timeframes, from 0.12 (all time) to 0.26 (1 year), reflecting how their relationship changes across market environments.

TPRF.TO vs. PMIF.TO - Sectors Allocation Comparison

Sectors	TPRF.TO	PMIF.TO
Financial Services	53.9%	32.4%
Industrials	18.1%	-
Consumer Defensive	16.3%	-
Energy	7.2%	-
Basic Materials	4.6%	-
Communication Services	-	12.1%
Consumer Cyclical	-	-
Healthcare	-	-
Real Estate	-	55.5%
Technology	-	-
Utilities	-	-

Return for Risk

TPRF.TO vs. PMIF.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: 96
TPRF.TO Sharpe Ratio Rank: 96
TPRF.TO Sortino Ratio Rank: 97
TPRF.TO Omega Ratio Rank: 97
TPRF.TO Calmar Ratio Rank: 94
TPRF.TO Martin Ratio Rank: 96

PMIF.TO

PMIF.TO Risk / Return Rank: 52
PMIF.TO Sharpe Ratio Rank: 56
PMIF.TO Sortino Ratio Rank: 57
PMIF.TO Omega Ratio Rank: 58
PMIF.TO Calmar Ratio Rank: 42
PMIF.TO Martin Ratio Rank: 48

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. PMIF.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TD Active Preferred Share ETF (TPRF.TO) and PIMCO Monthly Income Fund (Canada) (PMIF.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.

	TPRF.TO	PMIF.TO	Difference
Sharpe ratio: Return per unit of total volatility	4.25	1.93	+2.32
Sortino ratio: Return per unit of downside risk	6.23	2.77	+3.46
Omega ratio: Gain probability vs. loss probability	1.92	1.36	+0.56
Calmar ratio: Return relative to maximum drawdown	7.07	2.10	+4.96
Martin ratio: Return relative to average drawdown	39.29	7.96	+31.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current TPRF.TO Sharpe Ratio is 4.25, which is higher than the PMIF.TO Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of TPRF.TO and PMIF.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.

Sharpe Ratios by Period

	TPRF.TO	PMIF.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.25	1.93	+2.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.04	0.66	+0.38
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	0.57	+0.20

Drawdowns

TPRF.TO vs. PMIF.TO - Drawdown Comparison

The maximum TPRF.TO drawdown since its inception was -43.12%, which is greater than PMIF.TO's maximum drawdown of -18.30%. Use the drawdown chart below to compare losses from any high point for TPRF.TO and PMIF.TO.

Drawdown Indicators

	TPRF.TO	PMIF.TO	Difference
Max Drawdown Largest peak-to-trough decline	-43.12%	-18.30%	-24.82%
Max Drawdown (1Y) Largest decline over 1 year	-2.49%	-3.22%	+0.73%
Max Drawdown (3Y) Largest decline over 3 years	-8.39%	-3.98%	-4.41%
Max Drawdown (5Y) Largest decline over 5 years	-20.45%	-10.25%	-10.20%
Current Drawdown Current decline from peak	-0.38%	-1.21%	+0.83%
Average Drawdown Average peak-to-trough decline	-5.87%	-1.88%	-3.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.45%	0.85%	-0.40%

Volatility

TPRF.TO vs. PMIF.TO - Volatility Comparison

The current volatility for TD Active Preferred Share ETF (TPRF.TO) is 1.21%, while PIMCO Monthly Income Fund (Canada) (PMIF.TO) has a volatility of 1.64%. This indicates that TPRF.TO experiences smaller price fluctuations and is considered to be less risky than PMIF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TPRF.TO	PMIF.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.21%	1.64%	-0.43%
Volatility (6M) Calculated over the trailing 6-month period	2.67%	2.89%	-0.22%
Volatility (1Y) Calculated over the trailing 1-year period	4.16%	3.52%	+0.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.67%	4.79%	+4.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.41%	5.83%	+9.58%

Dividends

TPRF.TO vs. PMIF.TO - Dividend Comparison

TPRF.TO's dividend yield for the trailing twelve months is around 4.50%, less than PMIF.TO's 5.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
PMIF.TO PIMCO Monthly Income Fund (Canada)	5.42%	5.50%	6.95%	6.06%	3.73%	3.22%	3.58%	3.80%	3.51%	0.59%
TPRF.TO TD Active Preferred Share ETF	4.50%	4.36%	4.56%	5.74%	10.25%	8.28%	10.46%	9.90%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TPRF.TO and PMIF.TO in my portfolio?

TPRF.TO and PMIF.TO have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.