CMVP.TO vs. PXC.TO
CMVP.TO (HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units) and PXC.TO (Invesco RAFI Canadian Index ETF) are both Canada Equities funds - CMVP.TO tracks the Solactive Canada Dividend Elite Champions Index while PXC.TO tracks the RAFI Canada Index. Both are passively managed. Over the past year, CMVP.TO returned 32.11% vs 36.76% for PXC.TO. A 0.67 correlation means they provide meaningful diversification when combined.
Performance
CMVP.TO vs. PXC.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with CMVP.TO having a 16.45% return and PXC.TO slightly higher at 17.12%.
CMVP.TO
- 1D
- 0.16%
- 1M
- 2.58%
- YTD
- 16.45%
- 6M
- 16.06%
- 1Y
- 32.11%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PXC.TO
- 1D
- -0.64%
- 1M
- -0.22%
- YTD
- 17.12%
- 6M
- 12.82%
- 1Y
- 36.76%
- 3Y*
- 25.64%
- 5Y*
- 16.75%
- 10Y*
- 13.41%
CMVP.TO vs. PXC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CMVP.TO HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units | 16.45% | 21.08% |
PXC.TO Invesco RAFI Canadian Index ETF | 17.12% | 22.88% |
Correlation
The correlation between CMVP.TO and PXC.TO is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2025 | 0.67 |
The correlation between CMVP.TO and PXC.TO has been stable across timeframes, ranging from 0.65 to 0.67 - a consistent structural relationship.
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Return for Risk
CMVP.TO vs. PXC.TO — Risk / Return Rank
CMVP.TO
PXC.TO
CMVP.TO vs. PXC.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units (CMVP.TO) and Invesco RAFI Canadian Index ETF (PXC.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.
| CMVP.TO | PXC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 1.69 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 4.52 | 7.95 | -3.43 |
| Martin ratioReturn relative to average drawdown | 20.40 | 31.61 | -11.21 |
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Drawdowns
CMVP.TO vs. PXC.TO - Drawdown Comparison
The maximum CMVP.TO drawdown since its inception was -8.86%, smaller than the maximum PXC.TO drawdown of -41.78%. Use the drawdown chart below to compare losses from any high point for CMVP.TO and PXC.TO.
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Drawdown Indicators
| CMVP.TO | PXC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.86% | -41.78% | +32.92% |
Max Drawdown (1Y)Largest decline over 1 year | -7.14% | -4.64% | -2.50% |
Max Drawdown (3Y)Largest decline over 3 years | — | -10.99% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.75% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.78% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.30% | +1.30% |
Average DrawdownAverage peak-to-trough decline | -1.05% | -5.05% | +4.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.58% | 1.17% | +0.41% |
Volatility
CMVP.TO vs. PXC.TO - Volatility Comparison
The current volatility for HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units (CMVP.TO) is 2.85%, while Invesco RAFI Canadian Index ETF (PXC.TO) has a volatility of 3.14%. This indicates that CMVP.TO experiences smaller price fluctuations and is considered to be less risky than PXC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMVP.TO | PXC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.85% | 3.14% | -0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 8.10% | 8.56% | -0.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.92% | 10.39% | -0.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.02% | 13.27% | -2.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.02% | 16.41% | -5.39% |
Dividends
CMVP.TO vs. PXC.TO - Dividend Comparison
CMVP.TO's dividend yield for the trailing twelve months is around 2.61%, more than PXC.TO's 2.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMVP.TO HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units | 2.61% | 2.70% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PXC.TO Invesco RAFI Canadian Index ETF | 2.27% | 2.65% | 3.17% | 3.48% | 3.42% | 2.58% | 3.10% | 2.92% | 2.86% | 2.23% | 2.57% | 3.13% |
Frequently Asked Questions
CMVP.TO and PXC.TO have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CMVP.TO tracks Solactive Canada Dividend Elite Champions Index, while PXC.TO tracks RAFI Canada Index. They also come from different issuers: Hamilton Capital and Invesco.
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