HXH.TO vs. PDC.TO

Last updated Aug 4, 2026

HXH.TO (Global X Canadian High Dividend Index Corporate Class ETF) and PDC.TO (Invesco Canadian Dividend Index ETF) are both exchange-traded funds - HXH.TO is a Canada Equities fund tracking the Solactive Canadian High Dividend Yield Index, while PDC.TO is a Dividend fund tracking the NASDAQ Select Canadian Dividend Index. Both are passively managed. Over the past 10 years, HXH.TO returned 12.20%/yr vs 11.43%/yr for PDC.TO. Their 0.67 correlation means they have sometimes moved together and sometimes differently. HXH.TO charges 0.11%/yr vs 0.58%/yr for PDC.TO.

Performance

HXH.TO vs. PDC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Canadian High Dividend Index Corporate Class ETF (HXH.TO) and Invesco Canadian Dividend Index ETF (PDC.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with HXH.TO having a 25.25% return and PDC.TO slightly higher at 25.42%. Over the past 10 years, HXH.TO has outperformed PDC.TO with an annualized return of 12.20%, while PDC.TO has yielded a comparatively lower 11.43% annualized return.

HXH.TO

• 1D: -0.23%
• 1M: 3.99%
• 6M: 21.03%
• YTD: 25.25%
• 1Y: 42.71%
• 3Y*: 23.27%
• 5Y*: 17.45%
• 10Y*: 12.20%
• ALL TIME*: 12.39%

PDC.TO

• 1D: -0.32%
• 1M: 2.24%
• 6M: 21.53%
• YTD: 25.42%
• 1Y: 38.86%
• 3Y*: 22.41%
• 5Y*: 14.54%
• 10Y*: 11.43%
• ALL TIME*: 10.54%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HXH.TO Global X Canadian High Dividend Index Corporate Class ETF	CA$171.87K	CA$164.71K	CA$187.22K
PDC.TO Invesco Canadian Dividend Index ETF	CA$73.84K	CA$71.47K	CA$90.55K

HXH.TO vs. PDC.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HXH.TO Global X Canadian High Dividend Index Corporate Class ETF	25.25%	25.86%	15.24%	6.33%	5.00%	34.51%	-7.66%	22.17%	-14.86%	8.10%
PDC.TO Invesco Canadian Dividend Index ETF	25.42%	21.80%	16.38%	6.97%	-4.17%	30.14%	-5.48%	25.00%	-11.85%	10.27%

Correlation

The correlation between HXH.TO and PDC.TO is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.68
Correlation (3Y) Balances recent behavior with more history.	0.73
Correlation (5Y) Shows whether the relationship held over a longer period.	0.72
Correlation (10Y) Provides a long-term view across more market conditions.	0.67
Correlation (All Time) Calculated using the full available price history since Apr 12, 2016	0.67

The correlation between HXH.TO and PDC.TO has been stable across timeframes, ranging from 0.67 to 0.73 - a consistent structural relationship.

HXH.TO vs. PDC.TO - Sectors Allocation Comparison

Sectors	HXH.TO	PDC.TO
Real Estate	32.3%	2.4%
Basic Materials	-	3.7%
Communication Services	-	4.4%
Consumer Cyclical	-	6.7%
Consumer Defensive	-	0.8%
Energy	-	20.4%
Financial Services	-	45.6%
Healthcare	-	-
Industrials	-	1.1%
Technology	-	0.7%
Utilities	-	14.2%

Return for Risk

HXH.TO vs. PDC.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HXH.TO

HXH.TO Risk / Return Rank: 98
HXH.TO Sharpe Ratio Rank: 98
HXH.TO Sortino Ratio Rank: 98
HXH.TO Omega Ratio Rank: 98
HXH.TO Calmar Ratio Rank: 99
HXH.TO Martin Ratio Rank: 98

PDC.TO

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HXH.TO vs. PDC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Canadian High Dividend Index Corporate Class ETF (HXH.TO) and Invesco Canadian Dividend Index ETF (PDC.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.

	HXH.TO	PDC.TO	Difference
Sharpe ratio: Return per unit of total volatility	4.87	4.44	+0.43
Sortino ratio: Return per unit of downside risk	7.26	5.75	+1.51
Omega ratio: Gain probability vs. loss probability	1.99	1.87	+0.12
Calmar ratio: Return relative to maximum drawdown	16.64	9.99	+6.66
Martin ratio: Return relative to average drawdown	49.99	36.59	+13.40

HXH.TO vs. PDC.TO - Sharpe Ratio Comparison

The current HXH.TO Sharpe Ratio is 4.87, which is comparable to the PDC.TO Sharpe Ratio of 4.44. The chart below compares the historical Sharpe Ratios of HXH.TO and PDC.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.

Drawdowns

HXH.TO vs. PDC.TO - Drawdown Comparison

The maximum HXH.TO drawdown since its inception was -40.80%, roughly equal to the maximum PDC.TO drawdown of -41.93%. Use the drawdown chart below to compare losses from any high point for HXH.TO and PDC.TO.

Drawdown Indicators

	HXH.TO	PDC.TO	Difference
Max Drawdown Largest peak-to-trough decline	-40.80%	-41.93%	+1.13%
Max Drawdown (1Y) Largest decline over 1 year	-2.52%	-3.86%	+1.34%
Max Drawdown (3Y) Largest decline over 3 years	-10.55%	-10.43%	-0.12%
Max Drawdown (5Y) Largest decline over 5 years	-15.48%	-17.98%	+2.50%
Max Drawdown (10Y) Largest decline over 10 years	-40.80%	-41.93%	+1.13%
Current Drawdown Current decline from peak	-0.43%	-1.06%	+0.63%
Average Drawdown Average peak-to-trough decline	-4.79%	-4.47%	-0.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.84%	1.05%	-0.21%

Volatility

HXH.TO vs. PDC.TO - Volatility Comparison

Global X Canadian High Dividend Index Corporate Class ETF (HXH.TO) and Invesco Canadian Dividend Index ETF (PDC.TO) have volatilities of 2.78% and 2.78%, 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.

Volatility by Period

	HXH.TO	PDC.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.78%	2.78%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	6.55%	6.60%	-0.05%
Volatility (1Y) Calculated over the trailing 1-year period	8.63%	8.70%	-0.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.09%	10.85%	+1.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.01%	15.28%	+0.73%

HXH.TO vs. PDC.TO - Expense Ratio Comparison

HXH.TO has a 0.11% expense ratio, which is lower than PDC.TO's 0.58% expense ratio.

Dividends

HXH.TO vs. PDC.TO - Dividend Comparison

HXH.TO has not paid dividends to shareholders, while PDC.TO's dividend yield for the trailing twelve months is around 3.17%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HXH.TO Global X Canadian High Dividend Index Corporate Class ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PDC.TO Invesco Canadian Dividend Index ETF	3.17%	3.96%	4.48%	4.77%	4.24%	3.65%	5.07%	4.33%	5.12%	4.23%	3.77%	4.39%

Frequently Asked Questions

Can I hold both HXH.TO and PDC.TO in my portfolio?

HXH.TO and PDC.TO have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HXH.TO or PDC.TO?

On fees, HXH.TO is cheaper at 0.11% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HXH.TO or PDC.TO?

HXH.TO is cheaper with a 0.11% expense ratio, compared with 0.58% for PDC.TO.

What is the main difference between HXH.TO and PDC.TO?

HXH.TO is categorized as Canada Equities, while PDC.TO is Dividend. HXH.TO tracks Solactive Canadian High Dividend Yield Index, while PDC.TO tracks NASDAQ Select Canadian Dividend Index. They also come from different issuers: Global X and Invesco. Their fees differ too: 0.11% for HXH.TO and 0.58% for PDC.TO.