ZPR.TO vs. DXP.TO
ZPR.TO (BMO Laddered Preferred Share Index ETF) and DXP.TO (Dynamic Active Preferred Shares ETF) are both Preferred Stock/Convertible Bonds funds. ZPR.TO is passively managed, while DXP.TO is actively managed. Over the past 5 years, ZPR.TO returned 8.01%/yr vs 8.00%/yr for DXP.TO. A 0.53 correlation means they provide meaningful diversification when combined. ZPR.TO charges 0.45%/yr vs 0.64%/yr for DXP.TO.
Performance
ZPR.TO vs. DXP.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZPR.TO achieves a 6.36% return, which is significantly higher than DXP.TO's 4.44% return.
ZPR.TO
- 1D
- -0.31%
- 1M
- -0.05%
- YTD
- 6.36%
- 6M
- 6.84%
- 1Y
- 18.07%
- 3Y*
- 19.53%
- 5Y*
- 8.01%
- 10Y*
- 8.47%
DXP.TO
- 1D
- -0.04%
- 1M
- 0.25%
- YTD
- 4.44%
- 6M
- 5.17%
- 1Y
- 14.53%
- 3Y*
- 17.89%
- 5Y*
- 8.00%
- 10Y*
- —
ZPR.TO vs. DXP.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZPR.TO BMO Laddered Preferred Share Index ETF | 6.36% | 18.58% | 26.58% | 7.21% | -17.66% | 23.77% | 6.00% | 1.94% | -9.77% | 10.18% |
DXP.TO Dynamic Active Preferred Shares ETF | 4.44% | 17.64% | 25.73% | 8.22% | -16.46% | 27.89% | 5.67% | 3.94% | -9.58% | 11.73% |
Correlation
The correlation between ZPR.TO and DXP.TO is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Jan 26, 2017 | 0.53 |
The correlation between ZPR.TO and DXP.TO has been stable across timeframes, ranging from 0.44 to 0.53 - a consistent structural relationship.
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Return for Risk
ZPR.TO vs. DXP.TO — Risk / Return Rank
ZPR.TO
DXP.TO
ZPR.TO vs. DXP.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Laddered Preferred Share Index ETF (ZPR.TO) and Dynamic Active Preferred Shares ETF (DXP.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.
| ZPR.TO | DXP.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.54 | ||
| Sortino ratioReturn per unit of downside risk | +0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.89 | 1.74 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 7.36 | 6.07 | +1.28 |
| Martin ratioReturn relative to average drawdown | 42.03 | 30.11 | +11.92 |
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Drawdowns
ZPR.TO vs. DXP.TO - Drawdown Comparison
The maximum ZPR.TO drawdown since its inception was -44.72%, which is greater than DXP.TO's maximum drawdown of -40.72%. Use the drawdown chart below to compare losses from any high point for ZPR.TO and DXP.TO.
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Drawdown Indicators
| ZPR.TO | DXP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.72% | -40.72% | -4.00% |
Max Drawdown (1Y)Largest decline over 1 year | -2.47% | -2.40% | -0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -8.75% | -8.30% | -0.45% |
Max Drawdown (5Y)Largest decline over 5 years | -23.06% | -20.11% | -2.95% |
Max Drawdown (10Y)Largest decline over 10 years | -44.13% | — | — |
Current DrawdownCurrent decline from peak | -0.31% | -0.04% | -0.27% |
Average DrawdownAverage peak-to-trough decline | -9.25% | -6.61% | -2.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 0.48% | -0.05% |
Volatility
ZPR.TO vs. DXP.TO - Volatility Comparison
BMO Laddered Preferred Share Index ETF (ZPR.TO) has a higher volatility of 1.03% compared to Dynamic Active Preferred Shares ETF (DXP.TO) at 0.94%. This indicates that ZPR.TO's price experiences larger fluctuations and is considered to be riskier than DXP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZPR.TO | DXP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 0.94% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 2.68% | 2.55% | +0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.37% | 4.02% | +0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.32% | 9.28% | -0.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.45% | 12.22% | -0.77% |
ZPR.TO vs. DXP.TO - Expense Ratio Comparison
ZPR.TO has a 0.45% expense ratio, which is lower than DXP.TO's 0.64% expense ratio.
Dividends
ZPR.TO vs. DXP.TO - Dividend Comparison
ZPR.TO's dividend yield for the trailing twelve months is around 5.05%, more than DXP.TO's 4.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DXP.TO Dynamic Active Preferred Shares ETF | 4.40% | 4.52% | 5.05% | 5.31% | 4.58% | 3.67% | 4.51% | 4.53% | 4.50% | 3.36% | 0.00% | 0.00% |
ZPR.TO BMO Laddered Preferred Share Index ETF | 5.05% | 4.86% | 4.93% | 5.92% | 5.97% | 4.66% | 5.48% | 5.09% | 4.82% | 4.08% | 5.14% | 5.65% |
Frequently Asked Questions
ZPR.TO and DXP.TO have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
ZPR.TO is cheaper with a 0.45% expense ratio, compared with 0.64% for DXP.TO.
They also come from different issuers: BMO and Dynamic. Their fees differ too: 0.45% for ZPR.TO and 0.64% for DXP.TO.
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