PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
ZUP.TO vs. RPF.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZUP.TO vs. RPF.TO

Last updated Jul 1, 2026
See Documentation

ZUP.TO (BMO US Preferred Share Index ETF) and RPF.TO (RBC Canadian Preferred Share ETF) are both Preferred Stock/Convertible Bonds funds. Over the past 5 years, ZUP.TO returned 1.32%/yr vs 7.60%/yr for RPF.TO. At a 0.06 correlation, their price movements are largely independent.

Performance

ZUP.TO vs. RPF.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO US Preferred Share Index ETF (ZUP.TO) and RBC Canadian Preferred Share ETF (RPF.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, ZUP.TO achieves a 3.54% return, which is significantly lower than RPF.TO's 7.09% 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*
—

RPF.TO

1D
0.35%
1M
0.57%
YTD
7.09%
6M
7.18%
1Y
17.50%
3Y*
19.70%
5Y*
7.60%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

ZUP.TO vs. RPF.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ZUP.TO
BMO US Preferred Share Index ETF		3.54%-4.11%17.52%3.56%-14.25%4.80%7.69%11.34%1.93%0.37%
RPF.TO
RBC Canadian Preferred Share ETF		7.09%19.23%28.54%3.28%-18.37%23.47%6.47%0.26%-9.86%10.10%

Correlation

The correlation between ZUP.TO and RPF.TO is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.13

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

0.11

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

0.10

Correlation (All Time)
Calculated using the full available price history since Feb 9, 2017

0.06

Compare stocks, funds, or ETFs

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

BMO US Preferred Share Index ETF

RBC Canadian Preferred Share ETF

Often compared with RPF.TO:
RPF.TO vs. ZPR.TORPF.TO vs. TPRF.TORPF.TO vs. CPD.TORPF.TO vs. RATE.TORPF.TO vs. RCDC.TORPF.TO vs. HPR.TORPF.TO vs. RIDH.TO

Return for Risk

ZUP.TO vs. RPF.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZUP.TO
ZUP.TO Risk / Return Rank: 2525
Overall Rank
ZUP.TO Sharpe Ratio Rank: 2323
Sharpe Ratio Rank
ZUP.TO Sortino Ratio Rank: 2323
Sortino Ratio Rank
ZUP.TO Omega Ratio Rank: 2323
Omega Ratio Rank
ZUP.TO Calmar Ratio Rank: 3030
Calmar Ratio Rank
ZUP.TO Martin Ratio Rank: 2323
Martin Ratio Rank
RPF.TO
RPF.TO Risk / Return Rank: 9797
Overall Rank
RPF.TO Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
RPF.TO Sortino Ratio Rank: 9797
Sortino Ratio Rank
RPF.TO Omega Ratio Rank: 9797
Omega Ratio Rank
RPF.TO Calmar Ratio Rank: 9696
Calmar Ratio Rank
RPF.TO Martin Ratio Rank: 9898
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.

ZUP.TO vs. RPF.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 RBC Canadian Preferred Share ETF (RPF.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.TORPF.TODifference
Sharpe ratioReturn per unit of total volatility
0.76
4.16

-3.40

Sortino ratioReturn per unit of downside risk
1.19
6.15

-4.96

Omega ratioGain probability vs. loss probability

1.14

1.86

-0.71

Calmar ratioReturn relative to maximum drawdown

1.36

8.31

-6.95

Martin ratioReturn relative to average drawdown

2.75

45.51

-42.77

ZUP.TO vs. RPF.TO - Sharpe Ratio Comparison

The current ZUP.TO Sharpe Ratio is 0.76, which is lower than the RPF.TO Sharpe Ratio of 4.16. The chart below compares the historical Sharpe Ratios of ZUP.TO and RPF.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

ZUP.TO vs. RPF.TO - Drawdown Comparison

The maximum ZUP.TO drawdown since its inception was -32.93%, smaller than the maximum RPF.TO drawdown of -45.68%. Use the drawdown chart below to compare losses from any high point for ZUP.TO and RPF.TO.

Loading charts...

Drawdown Indicators

ZUP.TORPF.TODifference

Max Drawdown

Largest peak-to-trough decline

-32.93%

-45.68%

+12.75%

Max Drawdown (1Y)

Largest decline over 1 year

-4.76%

-2.11%

-2.65%

Max Drawdown (3Y)

Largest decline over 3 years

-12.88%

-9.19%

-3.69%

Max Drawdown (5Y)

Largest decline over 5 years

-25.34%

-26.37%

+1.03%

Current Drawdown

Current decline from peak

-4.13%

0.00%

-4.13%

Average Drawdown

Average peak-to-trough decline

-5.34%

-7.57%

+2.23%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.35%

0.39%

+1.96%

Volatility

ZUP.TO vs. RPF.TO - Volatility Comparison

BMO US Preferred Share Index ETF (ZUP.TO) has a higher volatility of 3.84% compared to RBC Canadian Preferred Share ETF (RPF.TO) at 1.30%. This indicates that ZUP.TO's price experiences larger fluctuations and is considered to be riskier than RPF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

ZUP.TORPF.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.84%

1.30%

+2.54%

Volatility (6M)

Calculated over the trailing 6-month period

6.29%

2.82%

+3.47%

Volatility (1Y)

Calculated over the trailing 1-year period

8.46%

4.23%

+4.23%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.81%

8.50%

+3.31%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.41%

12.30%

+2.11%

Dividends

ZUP.TO vs. RPF.TO - Dividend Comparison

ZUP.TO's dividend yield for the trailing twelve months is around 6.13%, more than RPF.TO's 4.94% yield.

PositionTTM2025202420232022202120202019201820172016
RPF.TO
RBC Canadian Preferred Share ETF		4.94%5.08%5.48%6.17%5.65%4.22%5.24%5.07%4.52%3.95%1.10%
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%0.00%

Frequently Asked Questions

ZUP.TO and RPF.TO have a correlation of 0.13, 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 RBC.

Portfolio Optimizer

Find the right allocation for ZUP.TO and RPF.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