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CUD.TO vs. PXS.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CUD.TO vs. PXS.TO

Last updated Jun 24, 2026

CUD.TO (iShares US Dividend Growers Index ETF (CAD-Hedged)) and PXS.TO (Invesco RAFI U.S. Index ETF II CAD) are both Large Cap Value Equities funds - CUD.TO tracks the S&P High Yield Dividend Aristocrats CAD Hedged Index while PXS.TO tracks the RAFI Fundamental Select US 1000 Index. Both are passively managed. Over the past 10 years, CUD.TO returned 6.37%/yr vs 14.58%/yr for PXS.TO. At a 0.36 correlation, their price movements are largely independent. CUD.TO charges 0.66%/yr vs 0.46%/yr for PXS.TO.

Performance

CUD.TO vs. PXS.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares US Dividend Growers Index ETF (CAD-Hedged) (CUD.TO) and Invesco RAFI U.S. Index ETF II CAD (PXS.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, CUD.TO achieves a 6.79% return, which is significantly lower than PXS.TO's 18.28% return. Over the past 10 years, CUD.TO has underperformed PXS.TO with an annualized return of 6.37%, while PXS.TO has yielded a comparatively higher 14.58% annualized return.

CUD.TO

1D
-0.07%
1M
1.18%
YTD
6.79%
6M
2.10%
1Y
7.18%
3Y*
6.58%
5Y*
2.85%
10Y*
6.37%

PXS.TO

1D
-0.12%
1M
3.66%
YTD
18.28%
6M
18.18%
1Y
36.20%
3Y*
23.80%
5Y*
16.09%
10Y*
14.58%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CUD.TO vs. PXS.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CUD.TO
iShares US Dividend Growers Index ETF (CAD-Hedged)		6.79%1.82%6.21%0.19%-2.23%19.11%-2.35%21.38%-5.05%14.67%
PXS.TO
Invesco RAFI U.S. Index ETF II CAD		18.28%13.64%26.23%12.41%-2.47%32.84%4.71%21.47%-1.23%8.36%

Correlation

The correlation between CUD.TO and PXS.TO is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.20

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

0.35

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

0.36

Correlation (10Y)
Calculated over the trailing 10-year period

0.38

Correlation (All Time)
Calculated using the full available price history since Apr 20, 2015

0.36

The correlation between CUD.TO and PXS.TO shifts across timeframes, from 0.20 (1 year) to 0.38 (10 years), reflecting how their relationship changes across market environments.

CUD.TO vs. PXS.TO - Sectors Allocation Comparison

Sectors
CUD.TO
PXS.TO

Industrials

17.1%
8.8%

Consumer Defensive

16.1%
5.8%

Utilities

14.1%
2.8%

Financial Services

11.9%
14.7%

Technology

11.7%
24.6%

Healthcare

7.4%
11.5%

Basic Materials

5.9%
3.3%

Consumer Cyclical

5.9%
8.8%

Real Estate

4.4%
2.4%

Energy

3.0%
7.7%

Communication Services

2.5%
9.7%

Industrials

CUD.TO
17.1%
PXS.TO
8.8%

Consumer Defensive

CUD.TO
16.1%
PXS.TO
5.8%

Utilities

CUD.TO
14.1%
PXS.TO
2.8%

Financial Services

CUD.TO
11.9%
PXS.TO
14.7%

Technology

CUD.TO
11.7%
PXS.TO
24.6%

Healthcare

CUD.TO
7.4%
PXS.TO
11.5%

Basic Materials

CUD.TO
5.9%
PXS.TO
3.3%

Consumer Cyclical

CUD.TO
5.9%
PXS.TO
8.8%

Real Estate

CUD.TO
4.4%
PXS.TO
2.4%

Energy

CUD.TO
3.0%
PXS.TO
7.7%

Communication Services

CUD.TO
2.5%
PXS.TO
9.7%

Compare stocks, funds, or ETFs

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

iShares US Dividend Growers Index ETF (CAD-Hedged)

Invesco RAFI U.S. Index ETF II CAD

Often compared with CUD.TO:
CUD.TO vs. CDZ.TOCUD.TO vs. XHU.TOCUD.TO vs. DGROCUD.TO vs. CYH.TOCUD.TO vs. SCHDCUD.TO vs. ^GSPCCUD.TO vs. VDY.TO
Often compared with PXS.TO:
PXS.TO vs. PXC.TOPXS.TO vs. ESGC.TOPXS.TO vs. ZVC.TOPXS.TO vs. ESG.TOPXS.TO vs. XDU.TOPXS.TO vs. EQL.TOPXS.TO vs. QQC.TO

Return for Risk

CUD.TO vs. PXS.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CUD.TO
CUD.TO Risk / Return Rank: 1818
Overall Rank
CUD.TO Sharpe Ratio Rank: 1717
Sharpe Ratio Rank
CUD.TO Sortino Ratio Rank: 1717
Sortino Ratio Rank
CUD.TO Omega Ratio Rank: 1818
Omega Ratio Rank
CUD.TO Calmar Ratio Rank: 1919
Calmar Ratio Rank
CUD.TO Martin Ratio Rank: 1919
Martin Ratio Rank
PXS.TO
PXS.TO Risk / Return Rank: 9595
Overall Rank
PXS.TO Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
PXS.TO Sortino Ratio Rank: 9696
Sortino Ratio Rank
PXS.TO Omega Ratio Rank: 9595
Omega Ratio Rank
PXS.TO Calmar Ratio Rank: 9595
Calmar Ratio Rank
PXS.TO Martin Ratio Rank: 9595
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.

CUD.TO vs. PXS.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares US Dividend Growers Index ETF (CAD-Hedged) (CUD.TO) and Invesco RAFI U.S. Index ETF II CAD (PXS.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.

CUD.TOPXS.TODifference
Sharpe ratioReturn per unit of total volatility
0.54
3.29

-2.75

Sortino ratioReturn per unit of downside risk
0.84
4.84

-4.01

Omega ratioGain probability vs. loss probability

1.12

1.64

-0.52

Calmar ratioReturn relative to maximum drawdown

0.82

7.45

-6.63

Martin ratioReturn relative to average drawdown

2.08

26.52

-24.44

CUD.TO vs. PXS.TO - Sharpe Ratio Comparison

The current CUD.TO Sharpe Ratio is 0.54, which is lower than the PXS.TO Sharpe Ratio of 3.29. The chart below compares the historical Sharpe Ratios of CUD.TO and PXS.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.

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Drawdowns

CUD.TO vs. PXS.TO - Drawdown Comparison

The maximum CUD.TO drawdown since its inception was -38.35%, which is greater than PXS.TO's maximum drawdown of -31.87%. Use the drawdown chart below to compare losses from any high point for CUD.TO and PXS.TO.

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Drawdown Indicators

CUD.TOPXS.TODifference

Max Drawdown

Largest peak-to-trough decline

-38.35%

-31.87%

-6.48%

Max Drawdown (1Y)

Largest decline over 1 year

-8.76%

-4.88%

-3.88%

Max Drawdown (3Y)

Largest decline over 3 years

-15.25%

-16.36%

+1.11%

Max Drawdown (5Y)

Largest decline over 5 years

-20.31%

-16.36%

-3.95%

Max Drawdown (10Y)

Largest decline over 10 years

-38.35%

-31.87%

-6.48%

Current Drawdown

Current decline from peak

-3.52%

-0.12%

-3.40%

Average Drawdown

Average peak-to-trough decline

-4.60%

-3.35%

-1.25%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.46%

1.37%

+2.09%

Volatility

CUD.TO vs. PXS.TO - Volatility Comparison

The current volatility for iShares US Dividend Growers Index ETF (CAD-Hedged) (CUD.TO) is 2.95%, while Invesco RAFI U.S. Index ETF II CAD (PXS.TO) has a volatility of 3.28%. This indicates that CUD.TO experiences smaller price fluctuations and is considered to be less risky than PXS.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CUD.TOPXS.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.95%

3.28%

-0.33%

Volatility (6M)

Calculated over the trailing 6-month period

10.69%

8.35%

+2.34%

Volatility (1Y)

Calculated over the trailing 1-year period

13.40%

11.07%

+2.33%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.60%

13.29%

+2.31%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.75%

15.28%

+2.47%

CUD.TO vs. PXS.TO - Expense Ratio Comparison

CUD.TO has a 0.66% expense ratio, which is higher than PXS.TO's 0.46% expense ratio.

Dividends

CUD.TO vs. PXS.TO - Dividend Comparison

CUD.TO's dividend yield for the trailing twelve months is around 1.94%, more than PXS.TO's 1.22% yield.

PositionTTM20252024202320222021202020192018201720162015
CUD.TO
iShares US Dividend Growers Index ETF (CAD-Hedged)		1.94%2.08%1.84%2.05%1.92%2.16%2.25%1.82%2.25%1.59%1.94%1.89%
PXS.TO
Invesco RAFI U.S. Index ETF II CAD		1.22%1.49%1.53%1.53%1.80%1.51%2.51%1.91%1.84%1.50%1.62%1.40%

Frequently Asked Questions

CUD.TO and PXS.TO have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, PXS.TO is cheaper at 0.46% per year. The better choice depends on whether you care most about return, fees, risk, or income.

PXS.TO is cheaper with a 0.46% expense ratio, compared with 0.66% for CUD.TO.

CUD.TO tracks S&P High Yield Dividend Aristocrats CAD Hedged Index, while PXS.TO tracks RAFI Fundamental Select US 1000 Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.66% for CUD.TO and 0.46% for PXS.TO.

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