CRQ.NEO vs. PXC.TO
CRQ.NEO (iShares Canadian Fundamental Index ETF) and PXC.TO (Invesco RAFI Canadian Index ETF) are both Canada Equities funds - CRQ.NEO tracks the FTSE RAFI Canada Index while PXC.TO tracks the RAFI Canada Index. Both are passively managed. Over the past 10 years, CRQ.NEO returned 13.69%/yr vs 13.25%/yr for PXC.TO. A 0.70 correlation means they provide meaningful diversification when combined.
Performance
CRQ.NEO vs. PXC.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with CRQ.NEO having a 17.86% return and PXC.TO slightly lower at 17.43%. Both investments have delivered pretty close results over the past 10 years, with CRQ.NEO having a 13.69% annualized return and PXC.TO not far behind at 13.25%.
CRQ.NEO
- 1D
- 0.13%
- 1M
- 2.97%
- YTD
- 17.86%
- 6M
- 17.27%
- 1Y
- 42.87%
- 3Y*
- 26.28%
- 5Y*
- 18.12%
- 10Y*
- 13.69%
PXC.TO
- 1D
- -0.78%
- 1M
- 1.39%
- YTD
- 17.43%
- 6M
- 17.10%
- 1Y
- 36.42%
- 3Y*
- 24.01%
- 5Y*
- 16.96%
- 10Y*
- 13.25%
CRQ.NEO vs. PXC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CRQ.NEO iShares Canadian Fundamental Index ETF | 17.86% | 31.87% | 22.17% | 9.76% | 0.89% | 33.95% | -2.73% | 19.66% | -10.18% | 6.98% |
PXC.TO Invesco RAFI Canadian Index ETF | 17.43% | 26.50% | 19.57% | 9.28% | 1.37% | 34.11% | -1.11% | 19.11% | -9.11% | 7.15% |
Correlation
The correlation between CRQ.NEO and PXC.TO is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2012 | 0.70 |
The correlation between CRQ.NEO and PXC.TO shifts across timeframes, from 0.62 (1 year) to 0.74 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
CRQ.NEO vs. PXC.TO — Risk / Return Rank
CRQ.NEO
PXC.TO
CRQ.NEO vs. PXC.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Canadian Fundamental Index ETF (CRQ.NEO) 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.
| CRQ.NEO | PXC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.73 | ||
| Sortino ratioReturn per unit of downside risk | +1.36 | ||
| Omega ratioGain probability vs. loss probability | 1.93 | 1.69 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 6.33 | 7.88 | -1.55 |
| Martin ratioReturn relative to average drawdown | 30.59 | 31.22 | -0.63 |
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Drawdowns
CRQ.NEO vs. PXC.TO - Drawdown Comparison
The maximum CRQ.NEO drawdown since its inception was -41.75%, roughly equal to the maximum PXC.TO drawdown of -41.78%. Use the drawdown chart below to compare losses from any high point for CRQ.NEO and PXC.TO.
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Drawdown Indicators
| CRQ.NEO | PXC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.75% | -41.78% | +0.03% |
Max Drawdown (1Y)Largest decline over 1 year | -6.84% | -4.64% | -2.20% |
Max Drawdown (3Y)Largest decline over 3 years | -11.70% | -10.99% | -0.71% |
Max Drawdown (5Y)Largest decline over 5 years | -15.82% | -15.75% | -0.07% |
Max Drawdown (10Y)Largest decline over 10 years | -41.75% | -41.78% | +0.03% |
Current DrawdownCurrent decline from peak | -0.33% | -1.03% | +0.70% |
Average DrawdownAverage peak-to-trough decline | -5.60% | -5.04% | -0.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.41% | 1.17% | +0.24% |
Volatility
CRQ.NEO vs. PXC.TO - Volatility Comparison
iShares Canadian Fundamental Index ETF (CRQ.NEO) and Invesco RAFI Canadian Index ETF (PXC.TO) have volatilities of 3.20% and 3.29%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CRQ.NEO | PXC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.20% | 3.29% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 8.32% | 7.80% | +0.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.14% | 10.36% | -0.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.43% | 13.27% | -0.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.21% | 16.38% | -0.17% |
Dividends
CRQ.NEO vs. PXC.TO - Dividend Comparison
CRQ.NEO's dividend yield for the trailing twelve months is around 1.83%, less than PXC.TO's 2.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CRQ.NEO iShares Canadian Fundamental Index ETF | 1.83% | 2.18% | 2.72% | 2.97% | 2.90% | 2.17% | 2.98% | 2.71% | 2.46% | 1.91% | 1.89% | 3.09% |
PXC.TO Invesco RAFI Canadian Index ETF | 2.25% | 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
CRQ.NEO and PXC.TO have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CRQ.NEO tracks FTSE RAFI Canada Index, while PXC.TO tracks RAFI Canada Index. They also come from different issuers: iShares and Invesco.
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