ZHP.TO vs. FPR.TO
ZHP.TO (BMO US Preferred Share Hedged to CAD Index ETF) and FPR.TO (CI Preferred Share ETF) are both Preferred Stock/Convertible Bonds funds. Over the past 5 years, ZHP.TO returned -2.52%/yr vs 7.23%/yr for FPR.TO. At a 0.11 correlation, their price movements are largely independent.
Performance
ZHP.TO vs. FPR.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZHP.TO achieves a -1.05% return, which is significantly lower than FPR.TO's 5.83% return.
ZHP.TO
- 1D
- 0.00%
- 1M
- -1.54%
- YTD
- -1.05%
- 6M
- -0.94%
- 1Y
- 1.75%
- 3Y*
- 4.74%
- 5Y*
- -2.52%
- 10Y*
- —
FPR.TO
- 1D
- 0.00%
- 1M
- 0.37%
- YTD
- 5.83%
- 6M
- 6.00%
- 1Y
- 15.42%
- 3Y*
- 16.79%
- 5Y*
- 7.23%
- 10Y*
- 7.63%
ZHP.TO vs. FPR.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZHP.TO BMO US Preferred Share Hedged to CAD Index ETF | -1.05% | -1.34% | 7.03% | 4.43% | -19.49% | 4.62% | 7.83% | 13.82% | -5.84% | 4.23% |
FPR.TO CI Preferred Share ETF | 5.83% | 16.63% | 23.27% | 3.44% | -13.72% | 21.25% | 7.57% | 3.65% | -5.80% | 7.15% |
Correlation
The correlation between ZHP.TO and FPR.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 | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Feb 16, 2017 | 0.11 |
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Return for Risk
ZHP.TO vs. FPR.TO — Risk / Return Rank
ZHP.TO
FPR.TO
ZHP.TO vs. FPR.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO US Preferred Share Hedged to CAD Index ETF (ZHP.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.
| ZHP.TO | FPR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.96 | ||
| Sortino ratioReturn per unit of downside risk | -2.77 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.46 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | 0.28 | 5.85 | -5.57 |
| Martin ratioReturn relative to average drawdown | 0.55 | 21.28 | -20.73 |
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Drawdowns
ZHP.TO vs. FPR.TO - Drawdown Comparison
The maximum ZHP.TO drawdown since its inception was -41.53%, 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 ZHP.TO and FPR.TO.
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Drawdown Indicators
| ZHP.TO | FPR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.53% | -36.12% | -5.41% |
Max Drawdown (1Y)Largest decline over 1 year | -6.26% | -2.75% | -3.51% |
Max Drawdown (3Y)Largest decline over 3 years | -11.80% | -7.34% | -4.46% |
Max Drawdown (5Y)Largest decline over 5 years | -30.45% | -20.31% | -10.14% |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.12% | — |
Current DrawdownCurrent decline from peak | -13.56% | -0.72% | -12.84% |
Average DrawdownAverage peak-to-trough decline | -8.65% | -4.93% | -3.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.20% | 0.75% | +2.45% |
Volatility
ZHP.TO vs. FPR.TO - Volatility Comparison
BMO US Preferred Share Hedged to CAD Index ETF (ZHP.TO) has a higher volatility of 2.04% compared to CI Preferred Share ETF (FPR.TO) at 1.31%. This indicates that ZHP.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
| ZHP.TO | FPR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.04% | 1.31% | +0.73% |
Volatility (6M)Calculated over the trailing 6-month period | 4.94% | 4.76% | +0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.69% | 7.22% | -0.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.65% | 8.24% | +4.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.94% | 10.36% | +5.58% |
Dividends
ZHP.TO vs. FPR.TO - Dividend Comparison
ZHP.TO's dividend yield for the trailing twelve months is around 6.22%, more than FPR.TO's 4.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FPR.TO CI Preferred Share ETF | 4.03% | 4.57% | 5.01% | 6.00% | 4.59% | 3.79% | 4.42% | 4.52% | 4.49% | 4.06% | 2.52% |
ZHP.TO BMO US Preferred Share Hedged to CAD Index ETF | 6.22% | 6.46% | 6.29% | 7.14% | 6.93% | 5.41% | 5.61% | 5.39% | 5.61% | 4.60% | 0.00% |
Frequently Asked Questions
ZHP.TO and FPR.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: BMO and CI.
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