ZHP.TO vs. RPF.TO
ZHP.TO (BMO US Preferred Share Hedged to CAD Index ETF) and RPF.TO (RBC Canadian Preferred Share ETF) are both Preferred Stock/Convertible Bonds funds. Over the past 5 years, ZHP.TO returned -2.52%/yr vs 7.60%/yr for RPF.TO. At a 0.15 correlation, their price movements are largely independent.
Performance
ZHP.TO vs. RPF.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 RPF.TO's 7.09% 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*
- —
RPF.TO
- 1D
- 0.35%
- 1M
- 0.57%
- YTD
- 7.09%
- 6M
- 7.18%
- 1Y
- 17.50%
- 3Y*
- 19.70%
- 5Y*
- 7.60%
- 10Y*
- —
ZHP.TO vs. RPF.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% |
RPF.TO RBC Canadian Preferred Share ETF | 7.09% | 19.23% | 28.54% | 3.28% | -18.37% | 23.47% | 6.47% | 0.26% | -9.86% | 9.95% |
Correlation
The correlation between ZHP.TO and RPF.TO is 0.09, 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 | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Feb 16, 2017 | 0.15 |
The correlation between ZHP.TO and RPF.TO shifts across timeframes, from 0.03 (3 years) to 0.15 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
ZHP.TO vs. RPF.TO — Risk / Return Rank
ZHP.TO
RPF.TO
ZHP.TO vs. RPF.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 RBC Canadian Preferred Share ETF (RPF.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 | RPF.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.90 | ||
| Sortino ratioReturn per unit of downside risk | -5.73 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.86 | -0.81 |
| Calmar ratioReturn relative to maximum drawdown | 0.28 | 8.31 | -8.03 |
| Martin ratioReturn relative to average drawdown | 0.55 | 45.51 | -44.96 |
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Drawdowns
ZHP.TO vs. RPF.TO - Drawdown Comparison
The maximum ZHP.TO drawdown since its inception was -41.53%, smaller than the maximum RPF.TO drawdown of -45.68%. Use the drawdown chart below to compare losses from any high point for ZHP.TO and RPF.TO.
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Drawdown Indicators
| ZHP.TO | RPF.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.53% | -45.68% | +4.15% |
Max Drawdown (1Y)Largest decline over 1 year | -6.26% | -2.11% | -4.15% |
Max Drawdown (3Y)Largest decline over 3 years | -11.80% | -9.19% | -2.61% |
Max Drawdown (5Y)Largest decline over 5 years | -30.45% | -26.37% | -4.08% |
Current DrawdownCurrent decline from peak | -13.56% | 0.00% | -13.56% |
Average DrawdownAverage peak-to-trough decline | -8.65% | -7.57% | -1.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.20% | 0.39% | +2.81% |
Volatility
ZHP.TO vs. RPF.TO - Volatility Comparison
BMO US Preferred Share Hedged to CAD Index ETF (ZHP.TO) has a higher volatility of 2.04% compared to RBC Canadian Preferred Share ETF (RPF.TO) at 1.30%. This indicates that ZHP.TO's price experiences larger fluctuations and is considered to be riskier than RPF.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 | RPF.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.04% | 1.30% | +0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 4.94% | 2.82% | +2.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.69% | 4.23% | +2.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.65% | 8.50% | +4.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.94% | 12.30% | +3.64% |
Dividends
ZHP.TO vs. RPF.TO - Dividend Comparison
ZHP.TO's dividend yield for the trailing twelve months is around 6.22%, more than RPF.TO's 4.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
RPF.TO RBC Canadian Preferred Share ETF | 4.94% | 5.08% | 5.48% | 6.17% | 5.65% | 4.22% | 5.24% | 5.07% | 4.52% | 3.95% | 1.10% |
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 RPF.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.
They also come from different issuers: BMO and RBC.
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