ZUP.TO vs. HLPR.TO
ZUP.TO (BMO US Preferred Share Index ETF) and HLPR.TO (Global X Laddered Canadian Preferred Share Index Corporate Class ETF) are both Preferred Stock/Convertible Bonds funds. Over the past 5 years, ZUP.TO returned 1.32%/yr vs 7.48%/yr for HLPR.TO. At a 0.05 correlation, their price movements are largely independent.
Performance
ZUP.TO vs. HLPR.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZUP.TO achieves a 3.54% return, which is significantly lower than HLPR.TO's 6.88% return.
ZUP.TO
- 1D
- -0.61%
- 1M
- 0.99%
- YTD
- 3.54%
- 6M
- 3.28%
- 1Y
- 6.44%
- 3Y*
- 8.55%
- 5Y*
- 1.32%
- 10Y*
- —
HLPR.TO
- 1D
- 0.27%
- 1M
- 0.52%
- YTD
- 6.88%
- 6M
- 6.88%
- 1Y
- 17.29%
- 3Y*
- 19.52%
- 5Y*
- 7.48%
- 10Y*
- —
ZUP.TO vs. HLPR.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ZUP.TO BMO US Preferred Share Index ETF | 3.54% | -4.11% | 17.52% | 3.56% | -14.25% | 4.80% | 7.69% | 5.14% |
HLPR.TO Global X Laddered Canadian Preferred Share Index Corporate Class ETF | 6.88% | 18.79% | 28.13% | 2.89% | -17.83% | 23.17% | 6.42% | 0.80% |
Correlation
The correlation between ZUP.TO and HLPR.TO is 0.04, 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 | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Feb 27, 2019 | 0.05 |
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Return for Risk
ZUP.TO vs. HLPR.TO — Risk / Return Rank
ZUP.TO
HLPR.TO
ZUP.TO vs. HLPR.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO US Preferred Share Index ETF (ZUP.TO) and Global X Laddered Canadian Preferred Share Index Corporate Class ETF (HLPR.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.
| ZUP.TO | HLPR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.14 | ||
| Sortino ratioReturn per unit of downside risk | -4.40 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.87 | -0.73 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | 6.99 | -5.63 |
| Martin ratioReturn relative to average drawdown | 2.75 | 40.02 | -37.27 |
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Drawdowns
ZUP.TO vs. HLPR.TO - Drawdown Comparison
The maximum ZUP.TO drawdown since its inception was -32.93%, smaller than the maximum HLPR.TO drawdown of -38.96%. Use the drawdown chart below to compare losses from any high point for ZUP.TO and HLPR.TO.
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Drawdown Indicators
| ZUP.TO | HLPR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.93% | -38.96% | +6.03% |
Max Drawdown (1Y)Largest decline over 1 year | -4.76% | -2.49% | -2.27% |
Max Drawdown (3Y)Largest decline over 3 years | -12.88% | -9.88% | -3.00% |
Max Drawdown (5Y)Largest decline over 5 years | -25.34% | -26.79% | +1.45% |
Current DrawdownCurrent decline from peak | -4.13% | 0.00% | -4.13% |
Average DrawdownAverage peak-to-trough decline | -5.34% | -6.51% | +1.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.35% | 0.43% | +1.92% |
Volatility
ZUP.TO vs. HLPR.TO - Volatility Comparison
BMO US Preferred Share Index ETF (ZUP.TO) has a higher volatility of 3.84% compared to Global X Laddered Canadian Preferred Share Index Corporate Class ETF (HLPR.TO) at 1.20%. This indicates that ZUP.TO's price experiences larger fluctuations and is considered to be riskier than HLPR.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZUP.TO | HLPR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.84% | 1.20% | +2.64% |
Volatility (6M)Calculated over the trailing 6-month period | 6.29% | 2.72% | +3.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.46% | 4.45% | +4.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.81% | 8.34% | +3.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.41% | 13.04% | +1.37% |
Dividends
ZUP.TO vs. HLPR.TO - Dividend Comparison
ZUP.TO's dividend yield for the trailing twelve months is around 6.13%, while HLPR.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
HLPR.TO Global X Laddered Canadian Preferred Share Index Corporate Class ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZUP.TO BMO US Preferred Share Index ETF | 6.13% | 6.51% | 5.82% | 6.88% | 6.33% | 5.28% | 5.81% | 5.52% | 5.29% | 5.14% |
Frequently Asked Questions
ZUP.TO and HLPR.TO have a correlation of 0.04, 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 Global X.
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