TPRF.TO vs. PREF.TO
TPRF.TO (TD Active Preferred Share ETF) and PREF.TO (Quadravest Preferred Split Share ETF) are both Preferred Stock/Convertible Bonds funds. Both are actively managed. Over the past year, TPRF.TO returned 15.09% vs 6.32% for PREF.TO. At a 0.16 correlation, their price movements are largely independent.
Performance
TPRF.TO vs. PREF.TO - Performance Comparison
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Returns By Period
In the year-to-date period, TPRF.TO achieves a 6.95% return, which is significantly higher than PREF.TO's 3.38% return.
TPRF.TO
- 1D
- -0.15%
- 1M
- 1.86%
- 6M
- 6.44%
- YTD
- 6.95%
- 1Y
- 15.09%
- 3Y*
- 19.96%
- 5Y*
- 8.94%
- 10Y*
- —
PREF.TO
- 1D
- 0.19%
- 1M
- -0.20%
- 6M
- 4.26%
- YTD
- 3.38%
- 1Y
- 6.32%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TPRF.TO vs. PREF.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TPRF.TO TD Active Preferred Share ETF | 6.95% | 18.21% | 11.95% |
PREF.TO Quadravest Preferred Split Share ETF | 3.38% | 6.77% | 9.28% |
Correlation
The correlation between TPRF.TO and PREF.TO is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2024 | 0.16 |
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Return for Risk
TPRF.TO vs. PREF.TO — Risk / Return Rank
TPRF.TO
PREF.TO
TPRF.TO vs. PREF.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TD Active Preferred Share ETF (TPRF.TO) and Quadravest Preferred Split Share ETF (PREF.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 | PREF.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.13 | ||
| Sortino ratioReturn per unit of downside risk | +3.14 | ||
| Omega ratioGain probability vs. loss probability | 1.80 | 1.31 | +0.48 |
| Calmar ratioReturn relative to maximum drawdown | 6.09 | 4.22 | +1.86 |
| Martin ratioReturn relative to average drawdown | 32.86 | 9.99 | +22.87 |
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Drawdowns
TPRF.TO vs. PREF.TO - Drawdown Comparison
The maximum TPRF.TO drawdown since its inception was -44.80%, which is greater than PREF.TO's maximum drawdown of -6.24%. Use the drawdown chart below to compare losses from any high point for TPRF.TO and PREF.TO.
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Drawdown Indicators
| TPRF.TO | PREF.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.80% | -6.24% | -38.56% |
Max Drawdown (1Y)Largest decline over 1 year | -2.49% | -1.50% | -0.99% |
Max Drawdown (3Y)Largest decline over 3 years | -8.39% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -23.90% | — | — |
Current DrawdownCurrent decline from peak | -0.15% | -0.39% | +0.24% |
Average DrawdownAverage peak-to-trough decline | -7.52% | -0.75% | -6.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.46% | 0.63% | -0.17% |
Volatility
TPRF.TO vs. PREF.TO - Volatility Comparison
The current volatility for TD Active Preferred Share ETF (TPRF.TO) is 0.93%, while Quadravest Preferred Split Share ETF (PREF.TO) has a volatility of 1.24%. This indicates that TPRF.TO experiences smaller price fluctuations and is considered to be less risky than PREF.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 | PREF.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.93% | 1.24% | -0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 2.63% | 2.90% | -0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.10% | 4.05% | +0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.64% | 5.19% | +4.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.24% | 5.19% | +10.05% |
Dividends
TPRF.TO vs. PREF.TO - Dividend Comparison
TPRF.TO's dividend yield for the trailing twelve months is around 4.49%, less than PREF.TO's 6.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
PREF.TO Quadravest Preferred Split Share ETF | 6.60% | 6.60% | 3.18% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TPRF.TO TD Active Preferred Share ETF | 4.49% | 4.36% | 4.56% | 5.74% | 4.99% | 4.04% | 5.09% | 5.05% |
Frequently Asked Questions
TPRF.TO and PREF.TO have a correlation of 0.08, 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 Quadravest.
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