WXM.TO vs. FPR.TO
WXM.TO (CI Morningstar Canada Momentum Index ETF) and FPR.TO (CI Preferred Share ETF) are both exchange-traded funds - WXM.TO is a Momentum fund tracking the Morningstar Canada Target Momentum Index, while FPR.TO is a Preferred Stock fund actively managed by CI. WXM.TO is passively managed, while FPR.TO is actively managed. Over the past 10 years, WXM.TO returned 14.31%/yr vs 7.38%/yr for FPR.TO. Their 0.10 correlation means their historical movements had little consistent relationship. WXM.TO charges 0.65%/yr vs 0.80%/yr for FPR.TO.
Performance
WXM.TO vs. FPR.TO - Performance Comparison
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Returns By Period
In the year-to-date period, WXM.TO achieves a 13.16% return, which is significantly higher than FPR.TO's 8.01% return. Over the past 10 years, WXM.TO has outperformed FPR.TO with an annualized return of 14.31%, while FPR.TO has yielded a comparatively lower 7.38% annualized return.
WXM.TO
- 1D
- -0.36%
- 1M
- -3.40%
- 6M
- 9.24%
- YTD
- 13.16%
- 1Y
- 35.28%
- 3Y*
- 26.75%
- 5Y*
- 17.32%
- 10Y*
- 14.31%
- ALL TIME*
- 13.36%
FPR.TO
- 1D
- 0.04%
- 1M
- 1.60%
- 6M
- 7.39%
- YTD
- 8.01%
- 1Y
- 14.42%
- 3Y*
- 17.20%
- 5Y*
- 7.41%
- 10Y*
- 7.38%
- ALL TIME*
- 7.69%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
FPR.TO CI Preferred Share ETF | CA$158.30 | CA$3.44K | CA$11.10K |
| CA$2.85M | CA$1.77M | CA$1.16M |
WXM.TO vs. FPR.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WXM.TO CI Morningstar Canada Momentum Index ETF | 13.16% | 38.16% | 33.93% | 3.35% | -0.42% | 20.98% | 4.61% | 31.49% | -4.88% | 10.06% |
FPR.TO CI Preferred Share ETF | 8.01% | 16.63% | 23.27% | 3.44% | -13.72% | 21.25% | 7.57% | 3.65% | -5.80% | 10.90% |
Correlation
The correlation between WXM.TO and FPR.TO is 0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.09 |
Correlation (3Y) Balances recent behavior with more history. | 0.07 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.07 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.10 |
Correlation (All Time) Calculated using the full available price history since May 17, 2016 | 0.10 |
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Return for Risk
WXM.TO vs. FPR.TO — Risk / Return Rank
WXM.TO
FPR.TO
WXM.TO vs. FPR.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Morningstar Canada Momentum Index ETF (WXM.TO) and CI Preferred Share ETF (FPR.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.
| WXM.TO | FPR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.42 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.75 | 5.19 | -1.44 |
| Martin ratioReturn relative to average drawdown | 14.01 | 18.72 | -4.71 |
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Drawdowns
WXM.TO vs. FPR.TO - Drawdown Comparison
The maximum WXM.TO drawdown since its inception was -40.45%, which is greater than FPR.TO's maximum drawdown of -36.12%. Use the drawdown chart below to compare losses from any high point for WXM.TO and FPR.TO.
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Drawdown Indicators
| WXM.TO | FPR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.45% | -36.12% | -4.33% |
Max Drawdown (1Y)Largest decline over 1 year | -9.49% | -2.75% | -6.74% |
Max Drawdown (3Y)Largest decline over 3 years | -12.13% | -7.34% | -4.79% |
Max Drawdown (5Y)Largest decline over 5 years | -15.87% | -20.31% | +4.44% |
Max Drawdown (10Y)Largest decline over 10 years | -40.45% | -36.12% | -4.33% |
Current DrawdownCurrent decline from peak | -5.32% | -0.33% | -4.99% |
Average DrawdownAverage peak-to-trough decline | -4.47% | -4.89% | +0.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.54% | 0.76% | +1.78% |
Volatility
WXM.TO vs. FPR.TO - Volatility Comparison
CI Morningstar Canada Momentum Index ETF (WXM.TO) has a higher volatility of 4.71% compared to CI Preferred Share ETF (FPR.TO) at 1.62%. This indicates that WXM.TO's price experiences larger fluctuations and is considered to be riskier than FPR.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WXM.TO | FPR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.71% | 1.62% | +3.09% |
Volatility (6M)Calculated over the trailing 6-month period | 13.02% | 4.50% | +8.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.39% | 7.18% | +9.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.95% | 8.24% | +7.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.90% | 10.35% | +6.55% |
WXM.TO vs. FPR.TO - Expense Ratio Comparison
WXM.TO has a 0.65% expense ratio, which is lower than FPR.TO's 0.80% expense ratio.
Dividends
WXM.TO vs. FPR.TO - Dividend Comparison
WXM.TO's dividend yield for the trailing twelve months is around 1.19%, less than FPR.TO's 3.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FPR.TO CI Preferred Share ETF | 3.96% | 4.57% | 5.01% | 6.00% | 4.59% | 3.79% | 4.42% | 4.52% | 4.49% | 4.06% | 2.52% | 0.00% |
WXM.TO CI Morningstar Canada Momentum Index ETF | 1.19% | 1.25% | 1.27% | 1.38% | 2.25% | 1.04% | 0.78% | 0.94% | 1.44% | 1.38% | 1.58% | 1.51% |
Frequently Asked Questions
WXM.TO and FPR.TO have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, WXM.TO is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WXM.TO is cheaper with a 0.65% expense ratio, compared with 0.80% for FPR.TO.
WXM.TO is categorized as Momentum, while FPR.TO is Preferred Stock. Their fees differ too: 0.65% for WXM.TO and 0.80% for FPR.TO.
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