ZUP.TO vs. PR.TO
ZUP.TO (BMO US Preferred Share Index ETF) and PR.TO (Lysander-Slater Preferred Share ActivETF) are both Preferred Stock/Convertible Bonds funds. Over the past 5 years, ZUP.TO returned 0.96%/yr vs 5.40%/yr for PR.TO. At a 0.05 correlation, their price movements are largely independent.
Performance
ZUP.TO vs. PR.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with ZUP.TO having a 3.44% return and PR.TO slightly higher at 3.48%.
ZUP.TO
- 1D
- -0.10%
- 1M
- 0.06%
- 6M
- -0.29%
- YTD
- 3.44%
- 1Y
- 6.22%
- 3Y*
- 8.34%
- 5Y*
- 0.96%
- 10Y*
- —
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%
ZUP.TO vs. PR.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZUP.TO BMO US Preferred Share Index ETF | 3.44% | -4.11% | 17.52% | 3.56% | -14.25% | 4.80% | 7.69% | 11.34% | 1.93% | 0.37% |
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% | 9.49% |
Correlation
The correlation between ZUP.TO and PR.TO is -0.02, 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 | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Feb 9, 2017 | 0.05 |
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Return for Risk
ZUP.TO vs. PR.TO — Risk / Return Rank
ZUP.TO
PR.TO
ZUP.TO vs. PR.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 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.
| ZUP.TO | PR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.56 | ||
| Sortino ratioReturn per unit of downside risk | -2.41 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.47 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | 1.31 | 6.09 | -4.77 |
| Martin ratioReturn relative to average drawdown | 2.63 | 22.13 | -19.50 |
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Drawdowns
ZUP.TO vs. PR.TO - Drawdown Comparison
The maximum ZUP.TO drawdown since its inception was -32.93%, smaller than the maximum PR.TO drawdown of -45.17%. Use the drawdown chart below to compare losses from any high point for ZUP.TO and PR.TO.
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Drawdown Indicators
| ZUP.TO | PR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.93% | -45.17% | +12.24% |
Max Drawdown (1Y)Largest decline over 1 year | -4.76% | -1.44% | -3.32% |
Max Drawdown (3Y)Largest decline over 3 years | -12.88% | -4.62% | -8.26% |
Max Drawdown (5Y)Largest decline over 5 years | -25.34% | -21.39% | -3.95% |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.17% | — |
Current DrawdownCurrent decline from peak | -4.23% | 0.00% | -4.23% |
Average DrawdownAverage peak-to-trough decline | -5.33% | -7.18% | +1.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.37% | 0.40% | +1.97% |
Volatility
ZUP.TO vs. PR.TO - Volatility Comparison
BMO US Preferred Share Index ETF (ZUP.TO) has a higher volatility of 3.93% compared to Lysander-Slater Preferred Share ActivETF (PR.TO) at 0.78%. This indicates that ZUP.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.
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Volatility by Period
| ZUP.TO | PR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.93% | 0.78% | +3.15% |
Volatility (6M)Calculated over the trailing 6-month period | 6.32% | 2.67% | +3.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.63% | 3.83% | +4.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.82% | 8.58% | +3.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.40% | 11.52% | +2.88% |
Dividends
ZUP.TO vs. PR.TO - Dividend Comparison
ZUP.TO's dividend yield for the trailing twelve months is around 6.14%, more than PR.TO's 5.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
ZUP.TO BMO US Preferred Share Index ETF | 6.14% | 6.51% | 5.82% | 6.88% | 6.33% | 5.28% | 5.81% | 5.52% | 5.29% | 5.14% | 0.00% | 0.00% |
Frequently Asked Questions
ZUP.TO and PR.TO have a correlation of -0.02, 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.
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