XPF.TO vs. ZUP.TO
XPF.TO (iShares S&P/TSX North American Preferred Stock Index ETF (CAD-Hedged)) and ZUP.TO (BMO US Preferred Share Index ETF) are both Preferred Stock/Convertible Bonds funds. Over the past 5 years, XPF.TO returned 2.28%/yr vs 0.91%/yr for ZUP.TO. At a 0.17 correlation, their price movements are largely independent.
Performance
XPF.TO vs. ZUP.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XPF.TO achieves a 1.55% return, which is significantly lower than ZUP.TO's 3.17% return.
XPF.TO
- 1D
- -0.45%
- 1M
- -0.90%
- 6M
- 0.16%
- YTD
- 1.55%
- 1Y
- 5.32%
- 3Y*
- 10.06%
- 5Y*
- 2.28%
- 10Y*
- 3.86%
ZUP.TO
- 1D
- -0.41%
- 1M
- -1.04%
- 6M
- -0.84%
- YTD
- 3.17%
- 1Y
- 5.30%
- 3Y*
- 8.38%
- 5Y*
- 0.91%
- 10Y*
- —
XPF.TO vs. ZUP.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XPF.TO iShares S&P/TSX North American Preferred Stock Index ETF (CAD-Hedged) | 1.55% | 9.33% | 14.80% | 7.19% | -19.48% | 11.51% | 5.34% | 8.88% | -7.32% | 5.92% |
ZUP.TO BMO US Preferred Share Index ETF | 3.17% | -4.11% | 17.52% | 3.56% | -14.25% | 4.80% | 7.69% | 11.34% | 1.93% | 0.37% |
Correlation
The correlation between XPF.TO and ZUP.TO is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Feb 9, 2017 | 0.17 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
XPF.TO vs. ZUP.TO — Risk / Return Rank
XPF.TO
ZUP.TO
XPF.TO vs. ZUP.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX North American Preferred Stock Index ETF (CAD-Hedged) (XPF.TO) and BMO US Preferred Share Index ETF (ZUP.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.
| XPF.TO | ZUP.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.34 | ||
| Sortino ratioReturn per unit of downside risk | +0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.12 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.39 | 1.12 | +0.27 |
| Martin ratioReturn relative to average drawdown | 4.63 | 2.24 | +2.39 |
Loading charts...
Drawdowns
XPF.TO vs. ZUP.TO - Drawdown Comparison
The maximum XPF.TO drawdown since its inception was -43.52%, which is greater than ZUP.TO's maximum drawdown of -32.93%. Use the drawdown chart below to compare losses from any high point for XPF.TO and ZUP.TO.
Loading charts...
Drawdown Indicators
| XPF.TO | ZUP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.52% | -32.93% | -10.59% |
Max Drawdown (1Y)Largest decline over 1 year | -3.84% | -4.76% | +0.92% |
Max Drawdown (3Y)Largest decline over 3 years | -7.54% | -12.88% | +5.34% |
Max Drawdown (5Y)Largest decline over 5 years | -24.67% | -25.34% | +0.67% |
Max Drawdown (10Y)Largest decline over 10 years | -43.52% | — | — |
Current DrawdownCurrent decline from peak | -1.46% | -4.47% | +3.01% |
Average DrawdownAverage peak-to-trough decline | -4.73% | -5.33% | +0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.15% | 2.37% | -1.22% |
Volatility
XPF.TO vs. ZUP.TO - Volatility Comparison
The current volatility for iShares S&P/TSX North American Preferred Stock Index ETF (CAD-Hedged) (XPF.TO) is 2.11%, while BMO US Preferred Share Index ETF (ZUP.TO) has a volatility of 3.84%. This indicates that XPF.TO experiences smaller price fluctuations and is considered to be less risky than ZUP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XPF.TO | ZUP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.11% | 3.84% | -1.73% |
Volatility (6M)Calculated over the trailing 6-month period | 4.68% | 6.33% | -1.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.55% | 8.63% | -3.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.57% | 11.82% | -3.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.39% | 14.39% | 0.00% |
Dividends
XPF.TO vs. ZUP.TO - Dividend Comparison
XPF.TO's dividend yield for the trailing twelve months is around 5.23%, less than ZUP.TO's 6.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XPF.TO iShares S&P/TSX North American Preferred Stock Index ETF (CAD-Hedged) | 5.23% | 5.08% | 5.21% | 5.74% | 5.46% | 4.30% | 4.95% | 5.12% | 4.94% | 4.59% | 5.14% | 5.11% |
ZUP.TO BMO US Preferred Share Index ETF | 6.15% | 6.51% | 5.82% | 6.88% | 6.33% | 5.28% | 5.81% | 5.52% | 5.29% | 5.14% | 0.00% | 0.00% |
Frequently Asked Questions
XPF.TO and ZUP.TO have a correlation of 0.12, 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: iShares and BMO.
Find the right allocation for XPF.TO and ZUP.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer