ZPR.TO vs. PREF.TO
ZPR.TO (BMO Laddered Preferred Share Index ETF) and PREF.TO (Quadravest Preferred Split Share ETF) are both Preferred Stock/Convertible Bonds funds. ZPR.TO is passively managed, while PREF.TO is actively managed. Over the past year, ZPR.TO returned 16.52% vs 6.32% for PREF.TO. At a 0.18 correlation, their price movements are largely independent.
Performance
ZPR.TO vs. PREF.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZPR.TO achieves a 8.08% return, which is significantly higher than PREF.TO's 3.38% 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%
PREF.TO
- 1D
- 0.19%
- 1M
- -0.20%
- 6M
- 4.26%
- YTD
- 3.38%
- 1Y
- 6.32%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZPR.TO vs. PREF.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ZPR.TO BMO Laddered Preferred Share Index ETF | 8.08% | 18.58% | 11.50% |
PREF.TO Quadravest Preferred Split Share ETF | 3.38% | 6.77% | 9.28% |
Correlation
The correlation between ZPR.TO and PREF.TO is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2024 | 0.18 |
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Return for Risk
ZPR.TO vs. PREF.TO — Risk / Return Rank
ZPR.TO
PREF.TO
ZPR.TO vs. PREF.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 Quadravest Preferred Split Share ETF (PREF.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 | PREF.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.29 | ||
| Sortino ratioReturn per unit of downside risk | +3.59 | ||
| Omega ratioGain probability vs. loss probability | 1.80 | 1.31 | +0.49 |
| Calmar ratioReturn relative to maximum drawdown | 6.72 | 4.22 | +2.50 |
| Martin ratioReturn relative to average drawdown | 38.36 | 9.99 | +28.37 |
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Drawdowns
ZPR.TO vs. PREF.TO - Drawdown Comparison
The maximum ZPR.TO drawdown since its inception was -44.72%, which is greater than PREF.TO's maximum drawdown of -6.24%. Use the drawdown chart below to compare losses from any high point for ZPR.TO and PREF.TO.
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Drawdown Indicators
| ZPR.TO | PREF.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.72% | -6.24% | -38.48% |
Max Drawdown (1Y)Largest decline over 1 year | -2.47% | -1.50% | -0.97% |
Max Drawdown (3Y)Largest decline over 3 years | -8.75% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -23.06% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -44.13% | — | — |
Current DrawdownCurrent decline from peak | -0.08% | -0.39% | +0.31% |
Average DrawdownAverage peak-to-trough decline | -9.20% | -0.75% | -8.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 0.63% | -0.20% |
Volatility
ZPR.TO vs. PREF.TO - Volatility Comparison
The current volatility for BMO Laddered Preferred Share Index ETF (ZPR.TO) is 0.90%, while Quadravest Preferred Split Share ETF (PREF.TO) has a volatility of 1.24%. This indicates that ZPR.TO experiences smaller price fluctuations and is considered to be less risky than PREF.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 | PREF.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.90% | 1.24% | -0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 2.70% | 2.90% | -0.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.30% | 4.05% | +0.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.32% | 5.19% | +3.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.42% | 5.19% | +6.23% |
Dividends
ZPR.TO vs. PREF.TO - Dividend Comparison
ZPR.TO's dividend yield for the trailing twelve months is around 5.05%, less than PREF.TO's 6.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PREF.TO Quadravest Preferred Split Share ETF | 6.60% | 6.60% | 3.18% | 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 | 5.05% | 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 PREF.TO have a correlation of 0.18, 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 Quadravest.
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