ZPR.TO vs. BUFR

Last updated Jun 4, 2026

ZPR.TO (BMO Laddered Preferred Share Index ETF) and BUFR (FT Vest Laddered Buffer ETF) are both exchange-traded funds - ZPR.TO is a Preferred Stock/Convertible Bonds fund tracking the Solactive Laddered Canadian Preferred Share Index, while BUFR is a Defined Outcome fund actively managed by First Trust. ZPR.TO is passively managed, while BUFR is actively managed. Over the past 5 years, ZPR.TO returned 7.74%/yr vs 13.12%/yr for BUFR. At a 0.17 correlation, their price movements are largely independent. ZPR.TO charges 0.45%/yr vs 0.95%/yr for BUFR.

Performance

ZPR.TO vs. BUFR - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Laddered Preferred Share Index ETF (ZPR.TO) and FT Vest Laddered Buffer ETF (BUFR). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ZPR.TO is traded in CAD, while BUFR is traded in USD. To make them comparable, the BUFR values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ZPR.TO achieves a 6.02% return, which is significantly lower than BUFR's 7.78% return.

ZPR.TO

• 1D: -0.16%
• 1M: 0.89%
• YTD: 6.02%
• 6M: 7.47%
• 1Y: 18.85%
• 3Y*: 20.00%
• 5Y*: 7.74%
• 10Y*: 8.11%

BUFR

• 1D: 0.20%
• 1M: 4.20%
• YTD: 7.78%
• 6M: 6.70%
• 1Y: 19.13%
• 3Y*: 15.83%
• 5Y*: 13.12%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ZPR.TO vs. BUFR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
ZPR.TO BMO Laddered Preferred Share Index ETF	6.02%	18.58%	26.58%	7.21%	-17.66%	23.77%	13.15%
BUFR FT Vest Laddered Buffer ETF	7.78%	7.28%	24.53%	17.00%	-0.99%	10.87%	3.17%

Correlation

The correlation between ZPR.TO and BUFR is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (All Time) Calculated using the full available price history since Aug 12, 2020	0.17

ZPR.TO vs. BUFR - Sectors Allocation Comparison

Sectors	ZPR.TO	BUFR
Utilities	100.0%	2.4%
Basic Materials	-	1.8%
Communication Services	-	11.3%
Consumer Cyclical	-	10.2%
Consumer Defensive	-	4.9%
Energy	-	3.5%
Financial Services	-	11.8%
Healthcare	-	8.4%
Industrials	-	7.9%
Real Estate	-	1.9%
Technology	-	35.8%

Return for Risk

ZPR.TO vs. BUFR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ZPR.TO

ZPR.TO Risk / Return Rank: 97
ZPR.TO Sharpe Ratio Rank: 96
ZPR.TO Sortino Ratio Rank: 97
ZPR.TO Omega Ratio Rank: 97
ZPR.TO Calmar Ratio Rank: 95
ZPR.TO Martin Ratio Rank: 97

BUFR

BUFR Risk / Return Rank: 84
BUFR Sharpe Ratio Rank: 82
BUFR Sortino Ratio Rank: 86
BUFR Omega Ratio Rank: 87
BUFR Calmar Ratio Rank: 75
BUFR Martin Ratio Rank: 89

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.

ZPR.TO vs. BUFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Laddered Preferred Share Index ETF (ZPR.TO) and FT Vest Laddered Buffer ETF (BUFR). 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.

	ZPR.TO	BUFR	Difference
Sharpe ratio: Return per unit of total volatility	4.38	2.68	+1.70
Sortino ratio: Return per unit of downside risk	6.74	3.74	+3.00
Omega ratio: Gain probability vs. loss probability	1.95	1.53	+0.42
Calmar ratio: Return relative to maximum drawdown	7.67	4.63	+3.05
Martin ratio: Return relative to average drawdown	45.38	15.33	+30.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZPR.TO vs. BUFR - Sharpe Ratio Comparison

The current ZPR.TO Sharpe Ratio is 4.38, which is higher than the BUFR Sharpe Ratio of 2.68. The chart below compares the historical Sharpe Ratios of ZPR.TO and BUFR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ZPR.TO	BUFR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.38	2.68	+1.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.93	1.40	-0.46
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.71	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	1.29	-0.94

Drawdowns

ZPR.TO vs. BUFR - Drawdown Comparison

The maximum ZPR.TO drawdown since its inception was -44.92%, which is greater than BUFR's maximum drawdown of -13.90%. Use the drawdown chart below to compare losses from any high point for ZPR.TO and BUFR.

Drawdown Indicators

	ZPR.TO	BUFR	Difference
Max Drawdown Largest peak-to-trough decline	-44.92%	-13.90%	-31.02%
Max Drawdown (1Y) Largest decline over 1 year	-2.47%	-4.15%	+1.68%
Max Drawdown (3Y) Largest decline over 3 years	-8.75%	-13.90%	+5.15%
Max Drawdown (5Y) Largest decline over 5 years	-23.06%	-13.90%	-9.16%
Max Drawdown (10Y) Largest decline over 10 years	-44.05%	—	—
Current Drawdown Current decline from peak	-0.59%	0.00%	-0.59%
Average Drawdown Average peak-to-trough decline	-9.37%	-1.91%	-7.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.42%	1.25%	-0.83%

Volatility

ZPR.TO vs. BUFR - Volatility Comparison

BMO Laddered Preferred Share Index ETF (ZPR.TO) and FT Vest Laddered Buffer ETF (BUFR) have volatilities of 1.14% and 1.14%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZPR.TO	BUFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.14%	1.14%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	2.78%	5.43%	-2.65%
Volatility (1Y) Calculated over the trailing 1-year period	4.33%	7.18%	-2.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.33%	9.43%	-1.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.50%	9.18%	+2.32%

ZPR.TO vs. BUFR - Expense Ratio Comparison

ZPR.TO has a 0.45% expense ratio, which is lower than BUFR's 0.95% expense ratio.

Dividends

ZPR.TO vs. BUFR - Dividend Comparison

ZPR.TO's dividend yield for the trailing twelve months is around 5.07%, while BUFR has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BUFR FT Vest Laddered Buffer ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ZPR.TO BMO Laddered Preferred Share Index ETF	5.07%	4.86%	4.93%	5.92%	5.97%	4.66%	5.48%	5.24%	4.70%	3.94%	4.97%	5.32%

Frequently Asked Questions

Can I hold both ZPR.TO and BUFR in my portfolio?

ZPR.TO and BUFR have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZPR.TO or BUFR?

On fees, ZPR.TO is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZPR.TO or BUFR?

ZPR.TO is cheaper with a 0.45% expense ratio, compared with 0.95% for BUFR.

What is the main difference between ZPR.TO and BUFR?

ZPR.TO is categorized as Preferred Stock/Convertible Bonds, while BUFR is Defined Outcome. They also come from different issuers: BMO and First Trust. Their fees differ too: 0.45% for ZPR.TO and 0.95% for BUFR.