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

TPRF.TO vs. ZPR.TO

Last updated Apr 1, 2026

Compare and contrast key facts about TD Active Preferred Share ETF (TPRF.TO) and BMO Laddered Preferred Share Index ETF (ZPR.TO).

TPRF.TO and ZPR.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TPRF.TO is an actively managed fund by TD. It was launched on Nov 8, 2018. ZPR.TO is a passively managed fund by BMO that tracks the performance of the Solactive Laddered Canadian Preferred Share Index. It was launched on Jan 24, 2022.

Performance

TPRF.TO vs. ZPR.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 BMO Laddered Preferred Share Index ETF (ZPR.TO). The values are adjusted to include any dividend payments, if applicable.

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

2026 (YTD)20252024202320222021202020192018
TPRF.TO
TD Active Preferred Share ETF		0.64%18.21%28.68%5.53%-11.31%37.88%11.44%17.78%-13.58%
ZPR.TO
BMO Laddered Preferred Share Index ETF		1.93%18.58%26.58%7.21%-17.66%23.77%6.00%2.10%-7.65%

Returns By Period

In the year-to-date period, TPRF.TO achieves a 0.64% return, which is significantly lower than ZPR.TO's 1.93% return.

TPRF.TO

1D
0.64%
1M
-0.94%
YTD
0.64%
6M
5.56%
1Y
17.19%
3Y*
16.64%
5Y*
11.09%
10Y*
—

ZPR.TO

1D
0.98%
1M
-0.20%
YTD
1.93%
6M
6.73%
1Y
18.43%
3Y*
17.54%
5Y*
8.36%
10Y*
8.10%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

BMO Laddered Preferred Share Index ETF

Often compared with TPRF.TO:
TPRF.TO vs. HPR.TOTPRF.TO vs. VSC.TOTPRF.TO vs. RPF.TOTPRF.TO vs. TQCD.TOTPRF.TO vs. HLPR.TOTPRF.TO vs. VDY.TOTPRF.TO vs. CPD.TO
Often compared with ZPR.TO:
ZPR.TO vs. RPF.TOZPR.TO vs. VDY.TOZPR.TO vs. CPD.TOZPR.TO vs. HPR.TOZPR.TO vs. XBB.TOZPR.TO vs. SPLT.TOZPR.TO vs. XPF.TO

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

TPRF.TO has a 0.50% expense ratio, which is higher than ZPR.TO's 0.45% expense ratio.

TPRF.TO
TD Active Preferred Share ETF
ZPR.TO
BMO Laddered Preferred Share Index ETF

Return for Risk

TPRF.TO vs. ZPR.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: 9090
Overall Rank
TPRF.TO Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
TPRF.TO Sortino Ratio Rank: 9292
Sortino Ratio Rank
TPRF.TO Omega Ratio Rank: 9797
Omega Ratio Rank
TPRF.TO Calmar Ratio Rank: 7979
Calmar Ratio Rank
TPRF.TO Martin Ratio Rank: 8989
Martin Ratio Rank
ZPR.TO
ZPR.TO Risk / Return Rank: 9191
Overall Rank
ZPR.TO Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
ZPR.TO Sortino Ratio Rank: 9494
Sortino Ratio Rank
ZPR.TO Omega Ratio Rank: 9797
Omega Ratio Rank
ZPR.TO Calmar Ratio Rank: 7979
Calmar Ratio Rank
ZPR.TO Martin Ratio Rank: 8989
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. ZPR.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TD Active Preferred Share ETF (TPRF.TO) and BMO Laddered Preferred Share Index ETF (ZPR.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.TOZPR.TODifference

Sharpe ratio

Return per unit of total volatility

2.36

2.49

-0.13

Sortino ratio

Return per unit of downside risk

2.76

3.00

-0.25

Omega ratio

Gain probability vs. loss probability

1.62

1.63

-0.01

Calmar ratio

Return relative to maximum drawdown

2.17

2.21

-0.04

Martin ratio

Return relative to average drawdown

11.61

11.61

0.00

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. ZPR.TO - Sharpe Ratio Comparison

The current TPRF.TO Sharpe Ratio is 2.36, which is comparable to the ZPR.TO Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of TPRF.TO and ZPR.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

TPRF.TOZPR.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.36

2.49

-0.13

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.15

1.01

+0.14

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.70

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.74

0.32

+0.42

Correlation

The correlation between TPRF.TO and ZPR.TO is 0.59, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

TPRF.TO vs. ZPR.TO - Dividend Comparison

TPRF.TO's dividend yield for the trailing twelve months is around 4.55%, less than ZPR.TO's 5.08% yield.

TTM20252024202320222021202020192018201720162015
TPRF.TO
TD Active Preferred Share ETF		4.55%4.36%4.56%5.74%10.25%8.28%10.46%9.90%0.00%0.00%0.00%0.00%
ZPR.TO
BMO Laddered Preferred Share Index ETF		5.08%4.86%4.93%5.92%5.97%4.66%5.48%5.24%4.70%3.94%4.97%5.32%

Drawdowns

TPRF.TO vs. ZPR.TO - Drawdown Comparison

The maximum TPRF.TO drawdown since its inception was -43.12%, roughly equal to the maximum ZPR.TO drawdown of -44.92%. Use the drawdown chart below to compare losses from any high point for TPRF.TO and ZPR.TO.

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Drawdown Indicators

TPRF.TOZPR.TODifference

Max Drawdown

Largest peak-to-trough decline

-43.12%

-44.92%

+1.80%

Max Drawdown (1Y)

Largest decline over 1 year

-7.93%

-8.48%

+0.55%

Max Drawdown (5Y)

Largest decline over 5 years

-20.45%

-23.06%

+2.61%

Max Drawdown (10Y)

Largest decline over 10 years

—

-44.05%

—

Current Drawdown

Current decline from peak

-0.94%

-0.36%

-0.58%

Average Drawdown

Average peak-to-trough decline

-6.01%

-9.49%

+3.48%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.48%

1.62%

-0.14%

Volatility

TPRF.TO vs. ZPR.TO - Volatility Comparison

The current volatility for TD Active Preferred Share ETF (TPRF.TO) is 1.51%, while BMO Laddered Preferred Share Index ETF (ZPR.TO) has a volatility of 1.70%. This indicates that TPRF.TO experiences smaller price fluctuations and is considered to be less risky than ZPR.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.TOZPR.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

1.51%

1.70%

-0.19%

Volatility (6M)

Calculated over the trailing 6-month period

3.09%

3.39%

-0.30%

Volatility (1Y)

Calculated over the trailing 1-year period

7.31%

7.44%

-0.13%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

9.69%

8.33%

+1.36%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.58%

11.56%

+4.02%