GWO-PQ.TO vs. XDIV.TO

Last updated Jun 5, 2026

GWO-PQ.TO (Great-West Lifeco Inc.) is a stock, while XDIV.TO (iShares Core MSCI Canadian Quality Dividend Index ETF) is Dividend fund tracking the MSCI Canada High Dividend Yield 10% Security Capped Index. Over the past 5 years, GWO-PQ.TO returned 3.63%/yr vs 16.63%/yr for XDIV.TO. At a 0.15 correlation, their price movements are largely independent.

Performance

GWO-PQ.TO vs. XDIV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Great-West Lifeco Inc. (GWO-PQ.TO) and iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GWO-PQ.TO achieves a 1.17% return, which is significantly lower than XDIV.TO's 20.26% return.

GWO-PQ.TO

• 1D: -0.26%
• 1M: 0.43%
• YTD: 1.17%
• 6M: 1.04%
• 1Y: 10.24%
• 3Y*: 11.08%
• 5Y*: 3.63%
• 10Y*: 5.33%

XDIV.TO

• 1D: 0.91%
• 1M: 3.66%
• YTD: 20.26%
• 6M: 19.53%
• 1Y: 40.50%
• 3Y*: 23.53%
• 5Y*: 16.63%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

GWO-PQ.TO vs. XDIV.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GWO-PQ.TO Great-West Lifeco Inc.	1.17%	14.52%	18.43%	5.04%	-17.89%	6.47%	9.03%	14.71%	-4.34%	1.17%
XDIV.TO iShares Core MSCI Canadian Quality Dividend Index ETF	20.26%	24.92%	19.56%	11.71%	0.29%	32.25%	-7.81%	24.84%	-10.04%	8.48%

Correlation

The correlation between GWO-PQ.TO and XDIV.TO is -0.05, 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	-0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.10
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (All Time) Calculated using the full available price history since Jun 16, 2017	0.15

The correlation between GWO-PQ.TO and XDIV.TO shifts across timeframes, from -0.05 (1 year) to 0.15 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

GWO-PQ.TO vs. XDIV.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GWO-PQ.TO

GWO-PQ.TO Risk / Return Rank: 75
GWO-PQ.TO Sharpe Ratio Rank: 76
GWO-PQ.TO Sortino Ratio Rank: 72
GWO-PQ.TO Omega Ratio Rank: 72
GWO-PQ.TO Calmar Ratio Rank: 75
GWO-PQ.TO Martin Ratio Rank: 78

XDIV.TO

XDIV.TO Risk / Return Rank: 98
XDIV.TO Sharpe Ratio Rank: 98
XDIV.TO Sortino Ratio Rank: 98
XDIV.TO Omega Ratio Rank: 98
XDIV.TO Calmar Ratio Rank: 98
XDIV.TO Martin Ratio Rank: 98

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.

GWO-PQ.TO vs. XDIV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Great-West Lifeco Inc. (GWO-PQ.TO) and iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.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.

	GWO-PQ.TO	XDIV.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.22	5.17	-3.95
Sortino ratio: Return per unit of downside risk	1.85	7.63	-5.78
Omega ratio: Gain probability vs. loss probability	1.24	2.09	-0.84
Calmar ratio: Return relative to maximum drawdown	2.11	17.45	-15.34
Martin ratio: Return relative to average drawdown	5.73	59.31	-53.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GWO-PQ.TO vs. XDIV.TO - Sharpe Ratio Comparison

The current GWO-PQ.TO Sharpe Ratio is 1.22, which is lower than the XDIV.TO Sharpe Ratio of 5.17. The chart below compares the historical Sharpe Ratios of GWO-PQ.TO and XDIV.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.

Sharpe Ratios by Period

	GWO-PQ.TO	XDIV.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.22	5.17	-3.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	1.59	-1.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.82	-0.37

Drawdowns

GWO-PQ.TO vs. XDIV.TO - Drawdown Comparison

The maximum GWO-PQ.TO drawdown since its inception was -36.24%, smaller than the maximum XDIV.TO drawdown of -41.30%. Use the drawdown chart below to compare losses from any high point for GWO-PQ.TO and XDIV.TO.

Drawdown Indicators

	GWO-PQ.TO	XDIV.TO	Difference
Max Drawdown Largest peak-to-trough decline	-36.24%	-41.30%	+5.06%
Max Drawdown (1Y) Largest decline over 1 year	-4.88%	-2.33%	-2.55%
Max Drawdown (3Y) Largest decline over 3 years	-9.50%	-10.53%	+1.03%
Max Drawdown (5Y) Largest decline over 5 years	-23.17%	-17.60%	-5.57%
Max Drawdown (10Y) Largest decline over 10 years	-36.24%	—	—
Current Drawdown Current decline from peak	-1.00%	0.00%	-1.00%
Average Drawdown Average peak-to-trough decline	-4.45%	-4.25%	-0.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.79%	0.68%	+1.11%

Volatility

GWO-PQ.TO vs. XDIV.TO - Volatility Comparison

The current volatility for Great-West Lifeco Inc. (GWO-PQ.TO) is 2.41%, while iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO) has a volatility of 2.81%. This indicates that GWO-PQ.TO experiences smaller price fluctuations and is considered to be less risky than XDIV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GWO-PQ.TO	XDIV.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.41%	2.81%	-0.40%
Volatility (6M) Calculated over the trailing 6-month period	6.12%	6.37%	-0.25%
Volatility (1Y) Calculated over the trailing 1-year period	8.46%	7.89%	+0.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.73%	10.53%	+0.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.32%	16.00%	-3.68%

Dividends

GWO-PQ.TO vs. XDIV.TO - Dividend Comparison

GWO-PQ.TO's dividend yield for the trailing twelve months is around 5.61%, more than XDIV.TO's 3.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GWO-PQ.TO Great-West Lifeco Inc.	5.61%	5.52%	5.98%	6.65%	6.54%	5.06%	5.13%	5.30%	5.76%	5.21%	5.34%	5.52%
XDIV.TO iShares Core MSCI Canadian Quality Dividend Index ETF	3.26%	3.81%	4.29%	4.20%	3.95%	3.58%	4.58%	4.02%	4.85%	1.82%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GWO-PQ.TO and XDIV.TO in my portfolio?

GWO-PQ.TO and XDIV.TO have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.