PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
ZHP.TO vs. HLPR.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZHP.TO vs. HLPR.TO

Last updated Jul 1, 2026
See Documentation

ZHP.TO (BMO US Preferred Share Hedged to CAD Index ETF) and HLPR.TO (Global X Laddered Canadian Preferred Share Index Corporate Class ETF) are both Preferred Stock/Convertible Bonds funds. Over the past 5 years, ZHP.TO returned -2.52%/yr vs 7.48%/yr for HLPR.TO. At a 0.14 correlation, their price movements are largely independent.

Performance

ZHP.TO vs. HLPR.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO US Preferred Share Hedged to CAD Index ETF (ZHP.TO) and Global X Laddered Canadian Preferred Share Index Corporate Class ETF (HLPR.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, ZHP.TO achieves a -1.05% return, which is significantly lower than HLPR.TO's 6.88% 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*
—

HLPR.TO

1D
0.27%
1M
0.52%
YTD
6.88%
6M
6.88%
1Y
17.29%
3Y*
19.52%
5Y*
7.48%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

ZHP.TO vs. HLPR.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
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%5.48%
HLPR.TO
Global X Laddered Canadian Preferred Share Index Corporate Class ETF		6.88%18.79%28.13%2.89%-17.83%23.17%6.42%0.80%

Correlation

The correlation between ZHP.TO and HLPR.TO is 0.07, 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

0.07

Correlation (3Y)
Calculated over the trailing 3-year period

0.04

Correlation (5Y)
Calculated over the trailing 5-year period

0.15

Correlation (All Time)
Calculated using the full available price history since Feb 27, 2019

0.14

The correlation between ZHP.TO and HLPR.TO shifts across timeframes, from 0.04 (3 years) to 0.15 (5 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

BMO US Preferred Share Hedged to CAD Index ETF

Global X Laddered Canadian Preferred Share Index Corporate Class ETF

Often compared with HLPR.TO:
HLPR.TO vs. ZPR.TOHLPR.TO vs. HPR.TOHLPR.TO vs. TPRF.TOHLPR.TO vs. SPLT.TOHLPR.TO vs. CPD.TOHLPR.TO vs. XPF.TOHLPR.TO vs. RPF.TO

Return for Risk

ZHP.TO vs. HLPR.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZHP.TO
ZHP.TO Risk / Return Rank: 1212
Overall Rank
ZHP.TO Sharpe Ratio Rank: 1313
Sharpe Ratio Rank
ZHP.TO Sortino Ratio Rank: 1111
Sortino Ratio Rank
ZHP.TO Omega Ratio Rank: 1111
Omega Ratio Rank
ZHP.TO Calmar Ratio Rank: 1212
Calmar Ratio Rank
ZHP.TO Martin Ratio Rank: 1212
Martin Ratio Rank
HLPR.TO
HLPR.TO Risk / Return Rank: 9797
Overall Rank
HLPR.TO Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
HLPR.TO Sortino Ratio Rank: 9797
Sortino Ratio Rank
HLPR.TO Omega Ratio Rank: 9797
Omega Ratio Rank
HLPR.TO Calmar Ratio Rank: 9595
Calmar Ratio Rank
HLPR.TO Martin Ratio Rank: 9797
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.

ZHP.TO vs. HLPR.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 Global X Laddered Canadian Preferred Share Index Corporate Class ETF (HLPR.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.TOHLPR.TODifference
Sharpe ratioReturn per unit of total volatility
0.26
3.90

-3.64

Sortino ratioReturn per unit of downside risk
0.42
5.59

-5.17

Omega ratioGain probability vs. loss probability

1.05

1.87

-0.82

Calmar ratioReturn relative to maximum drawdown

0.28

6.99

-6.71

Martin ratioReturn relative to average drawdown

0.55

40.02

-39.47

ZHP.TO vs. HLPR.TO - Sharpe Ratio Comparison

The current ZHP.TO Sharpe Ratio is 0.26, which is lower than the HLPR.TO Sharpe Ratio of 3.90. The chart below compares the historical Sharpe Ratios of ZHP.TO and HLPR.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

ZHP.TO vs. HLPR.TO - Drawdown Comparison

The maximum ZHP.TO drawdown since its inception was -41.53%, which is greater than HLPR.TO's maximum drawdown of -38.96%. Use the drawdown chart below to compare losses from any high point for ZHP.TO and HLPR.TO.

Loading charts...

Drawdown Indicators

ZHP.TOHLPR.TODifference

Max Drawdown

Largest peak-to-trough decline

-41.53%

-38.96%

-2.57%

Max Drawdown (1Y)

Largest decline over 1 year

-6.26%

-2.49%

-3.77%

Max Drawdown (3Y)

Largest decline over 3 years

-11.80%

-9.88%

-1.92%

Max Drawdown (5Y)

Largest decline over 5 years

-30.45%

-26.79%

-3.66%

Current Drawdown

Current decline from peak

-13.56%

0.00%

-13.56%

Average Drawdown

Average peak-to-trough decline

-8.65%

-6.51%

-2.14%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.20%

0.43%

+2.77%

Volatility

ZHP.TO vs. HLPR.TO - Volatility Comparison

BMO US Preferred Share Hedged to CAD Index ETF (ZHP.TO) has a higher volatility of 2.04% compared to Global X Laddered Canadian Preferred Share Index Corporate Class ETF (HLPR.TO) at 1.20%. This indicates that ZHP.TO's price experiences larger fluctuations and is considered to be riskier than HLPR.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

ZHP.TOHLPR.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.04%

1.20%

+0.84%

Volatility (6M)

Calculated over the trailing 6-month period

4.94%

2.72%

+2.22%

Volatility (1Y)

Calculated over the trailing 1-year period

6.69%

4.45%

+2.24%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.65%

8.34%

+4.31%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.94%

13.04%

+2.90%

Dividends

ZHP.TO vs. HLPR.TO - Dividend Comparison

ZHP.TO's dividend yield for the trailing twelve months is around 6.22%, while HLPR.TO has not paid dividends to shareholders.

PositionTTM202520242023202220212020201920182017
HLPR.TO
Global X Laddered Canadian Preferred Share Index Corporate Class ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
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%

Frequently Asked Questions

ZHP.TO and HLPR.TO have a correlation of 0.07, 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 Global X.

Portfolio Optimizer

Find the right allocation for ZHP.TO and HLPR.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