PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
ZPR.TO vs. PR.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZPR.TO vs. PR.TO

Last updated Jul 17, 2026
Documentation

ZPR.TO (BMO Laddered Preferred Share Index ETF) and PR.TO (Lysander-Slater Preferred Share ActivETF) are both Preferred Stock/Convertible Bonds funds. ZPR.TO is passively managed, while PR.TO is actively managed. Over the past 10 years, ZPR.TO returned 8.37%/yr vs 6.03%/yr for PR.TO. At a 0.40 correlation, their price movements are largely independent.

Performance

ZPR.TO vs. PR.TO - 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 Lysander-Slater Preferred Share ActivETF (PR.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, ZPR.TO achieves a 8.08% return, which is significantly higher than PR.TO's 3.48% return. Over the past 10 years, ZPR.TO has outperformed PR.TO with an annualized return of 8.37%, while PR.TO has yielded a comparatively lower 6.03% annualized return.

ZPR.TO

1D
-0.08%
1M
1.70%
6M
7.47%
YTD
8.08%
1Y
16.52%
3Y*
19.92%
5Y*
8.33%
10Y*
8.37%

PR.TO

1D
0.19%
1M
1.18%
6M
3.58%
YTD
3.48%
1Y
8.73%
3Y*
14.86%
5Y*
5.40%
10Y*
6.03%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ZPR.TO vs. PR.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ZPR.TO
BMO Laddered Preferred Share Index ETF		8.08%18.58%26.58%7.21%-17.66%23.77%6.00%1.94%-9.77%14.71%
PR.TO
Lysander-Slater Preferred Share ActivETF		3.48%11.10%24.22%7.90%-18.17%28.22%-0.17%1.64%-10.79%12.24%

Correlation

The correlation between ZPR.TO and PR.TO is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.11

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

0.27

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

0.34

Correlation (10Y)
Calculated over the trailing 10-year period

0.40

Correlation (All Time)
Calculated using the full available price history since Aug 18, 2015

0.40

Over the past year, the correlation between ZPR.TO and PR.TO has dropped to 0.11 - well below their long-term average of 0.40, suggesting their price drivers have been diverging.

Compare stocks, funds, or ETFs

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

BMO Laddered Preferred Share Index ETF

Lysander-Slater Preferred Share ActivETF

Often compared with ZPR.TO:
ZPR.TO vs. CPD.TOZPR.TO vs. RPF.TOZPR.TO vs. HLPR.TOZPR.TO vs. VDY.TOZPR.TO vs. TPRF.TOZPR.TO vs. HPR.TOZPR.TO vs. SPLT.TO
Often compared with PR.TO:
PR.TO vs. PREF.TOPR.TO vs. CPD.TOPR.TO vs. DCP.TOPR.TO vs. HYBR.TOPR.TO vs. BEPR.TOPR.TO vs. BPRF.TOPR.TO vs. DXP.TO

Return for Risk

ZPR.TO vs. PR.TO — 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: 9797
Overall Rank
ZPR.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
ZPR.TO Sortino Ratio Rank: 9797
Sortino Ratio Rank
ZPR.TO Omega Ratio Rank: 9797
Omega Ratio Rank
ZPR.TO Calmar Ratio Rank: 9696
Calmar Ratio Rank
ZPR.TO Martin Ratio Rank: 9797
Martin Ratio Rank
PR.TO
PR.TO Risk / Return Rank: 9292
Overall Rank
PR.TO Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
PR.TO Sortino Ratio Rank: 9191
Sortino Ratio Rank
PR.TO Omega Ratio Rank: 9191
Omega Ratio Rank
PR.TO Calmar Ratio Rank: 9595
Calmar Ratio Rank
PR.TO Martin Ratio Rank: 9595
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.

ZPR.TO vs. PR.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 Lysander-Slater Preferred Share ActivETF (PR.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.TOPR.TODifference
Sharpe ratioReturn per unit of total volatility
3.86
2.29

+1.57

Sortino ratioReturn per unit of downside risk
5.84
3.54

+2.30

Omega ratioGain probability vs. loss probability

1.80

1.47

+0.33

Calmar ratioReturn relative to maximum drawdown

6.72

6.09

+0.64

Martin ratioReturn relative to average drawdown

38.36

22.13

+16.22

ZPR.TO vs. PR.TO - Sharpe Ratio Comparison

The current ZPR.TO Sharpe Ratio is 3.86, which is higher than the PR.TO Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of ZPR.TO and PR.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

ZPR.TO vs. PR.TO - Drawdown Comparison

The maximum ZPR.TO drawdown since its inception was -44.72%, roughly equal to the maximum PR.TO drawdown of -45.17%. Use the drawdown chart below to compare losses from any high point for ZPR.TO and PR.TO.

Loading charts...

Drawdown Indicators

ZPR.TOPR.TODifference

Max Drawdown

Largest peak-to-trough decline

-44.72%

-45.17%

+0.45%

Max Drawdown (1Y)

Largest decline over 1 year

-2.47%

-1.44%

-1.03%

Max Drawdown (3Y)

Largest decline over 3 years

-8.75%

-4.62%

-4.13%

Max Drawdown (5Y)

Largest decline over 5 years

-23.06%

-21.39%

-1.67%

Max Drawdown (10Y)

Largest decline over 10 years

-44.13%

-45.17%

+1.04%

Current Drawdown

Current decline from peak

-0.08%

0.00%

-0.08%

Average Drawdown

Average peak-to-trough decline

-9.20%

-7.18%

-2.02%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.43%

0.40%

+0.03%

Volatility

ZPR.TO vs. PR.TO - Volatility Comparison

BMO Laddered Preferred Share Index ETF (ZPR.TO) has a higher volatility of 0.90% compared to Lysander-Slater Preferred Share ActivETF (PR.TO) at 0.78%. This indicates that ZPR.TO's price experiences larger fluctuations and is considered to be riskier than PR.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

ZPR.TOPR.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.90%

0.78%

+0.12%

Volatility (6M)

Calculated over the trailing 6-month period

2.70%

2.67%

+0.03%

Volatility (1Y)

Calculated over the trailing 1-year period

4.30%

3.83%

+0.47%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

8.32%

8.58%

-0.26%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.42%

11.52%

-0.10%

Dividends

ZPR.TO vs. PR.TO - Dividend Comparison

ZPR.TO's dividend yield for the trailing twelve months is around 5.05%, more than PR.TO's 5.00% yield.

PositionTTM20252024202320222021202020192018201720162015
PR.TO
Lysander-Slater Preferred Share ActivETF		5.00%4.85%4.49%4.80%4.71%3.85%4.79%4.69%4.97%6.73%3.68%1.17%
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 PR.TO have a correlation of 0.11, 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 Lysander.

Portfolio Optimizer

Find the right allocation for ZPR.TO and PR.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