TPRF.TO vs. PR.TO
TPRF.TO (TD Active Preferred Share ETF) and PR.TO (Lysander-Slater Preferred Share ActivETF) are both Preferred Stock/Convertible Bonds funds. Both are actively managed. Over the past 5 years, TPRF.TO returned 9.00%/yr vs 5.34%/yr for PR.TO. At a 0.36 correlation, their price movements are largely independent.
Performance
TPRF.TO vs. PR.TO - Performance Comparison
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Returns By Period
In the year-to-date period, TPRF.TO achieves a 7.27% return, which is significantly higher than PR.TO's 3.18% return.
TPRF.TO
- 1D
- 0.30%
- 1M
- 2.25%
- 6M
- 6.68%
- YTD
- 7.27%
- 1Y
- 15.54%
- 3Y*
- 20.04%
- 5Y*
- 9.00%
- 10Y*
- —
PR.TO
- 1D
- -0.29%
- 1M
- 0.70%
- 6M
- 3.08%
- YTD
- 3.18%
- 1Y
- 8.21%
- 3Y*
- 14.75%
- 5Y*
- 5.34%
- 10Y*
- 6.00%
TPRF.TO vs. PR.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
TPRF.TO TD Active Preferred Share ETF | 7.27% | 18.21% | 28.67% | 5.53% | -15.46% | 31.78% | 4.65% | 12.00% | -14.27% |
PR.TO Lysander-Slater Preferred Share ActivETF | 3.18% | 11.10% | 24.22% | 7.90% | -18.17% | 28.22% | -0.17% | 1.64% | -8.26% |
Correlation
The correlation between TPRF.TO and PR.TO is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Nov 14, 2018 | 0.36 |
Over the past year, the correlation between TPRF.TO and PR.TO has dropped to 0.13 - well below their long-term average of 0.36, suggesting their price drivers have been diverging.
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Return for Risk
TPRF.TO vs. PR.TO — Risk / Return Rank
TPRF.TO
PR.TO
TPRF.TO vs. PR.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TD Active Preferred Share ETF (TPRF.TO) and Lysander-Slater Preferred Share ActivETF (PR.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.TO | PR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.66 | ||
| Sortino ratioReturn per unit of downside risk | +2.22 | ||
| Omega ratioGain probability vs. loss probability | 1.82 | 1.43 | +0.39 |
| Calmar ratioReturn relative to maximum drawdown | 6.27 | 5.72 | +0.55 |
| Martin ratioReturn relative to average drawdown | 33.83 | 20.78 | +13.05 |
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Drawdowns
TPRF.TO vs. PR.TO - Drawdown Comparison
The maximum TPRF.TO drawdown since its inception was -44.80%, roughly equal to the maximum PR.TO drawdown of -45.17%. Use the drawdown chart below to compare losses from any high point for TPRF.TO and PR.TO.
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Drawdown Indicators
| TPRF.TO | PR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.80% | -45.17% | +0.37% |
Max Drawdown (1Y)Largest decline over 1 year | -2.49% | -1.44% | -1.05% |
Max Drawdown (3Y)Largest decline over 3 years | -8.39% | -4.62% | -3.77% |
Max Drawdown (5Y)Largest decline over 5 years | -23.90% | -21.39% | -2.51% |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.17% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.29% | +0.29% |
Average DrawdownAverage peak-to-trough decline | -7.51% | -7.18% | -0.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.46% | 0.40% | +0.06% |
Volatility
TPRF.TO vs. PR.TO - Volatility Comparison
TD Active Preferred Share ETF (TPRF.TO) has a higher volatility of 0.93% compared to Lysander-Slater Preferred Share ActivETF (PR.TO) at 0.84%. This indicates that TPRF.TO's price experiences larger fluctuations and is considered to be riskier than PR.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.TO | PR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.93% | 0.84% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 2.64% | 2.69% | -0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.11% | 3.85% | +0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.63% | 8.57% | +1.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.24% | 11.52% | +3.72% |
Dividends
TPRF.TO vs. PR.TO - Dividend Comparison
TPRF.TO's dividend yield for the trailing twelve months is around 4.48%, less than PR.TO's 5.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PR.TO Lysander-Slater Preferred Share ActivETF | 5.01% | 4.85% | 4.49% | 4.80% | 4.71% | 3.85% | 4.79% | 4.69% | 4.97% | 6.73% | 3.68% | 1.17% |
TPRF.TO TD Active Preferred Share ETF | 4.48% | 4.36% | 4.56% | 5.74% | 4.99% | 4.04% | 5.09% | 5.05% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TPRF.TO and PR.TO have a correlation of 0.13, 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: TD and Lysander.
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