PDC.TO vs. ALTY

Last updated Jun 25, 2026

PDC.TO (Invesco Canadian Dividend Index ETF) and ALTY (Global X Alternative Income ETF) are both exchange-traded funds - PDC.TO is a Dividend fund managed by Invesco, while ALTY is a Global Allocation fund tracking the Indxx SuperDividend Alternatives Index. Over the past 10 years, PDC.TO returned 11.48%/yr vs 7.23%/yr for ALTY. At a 0.46 correlation, their price movements are largely independent. PDC.TO charges 0.58%/yr vs 0.50%/yr for ALTY.

Performance

PDC.TO vs. ALTY - Performance Comparison

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

Different Trading Currencies

PDC.TO is traded in CAD, while ALTY is traded in USD. To make them comparable, the ALTY values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, PDC.TO achieves a 21.92% return, which is significantly higher than ALTY's 10.37% return. Over the past 10 years, PDC.TO has outperformed ALTY with an annualized return of 11.48%, while ALTY has yielded a comparatively lower 7.23% annualized return.

PDC.TO

• 1D: -0.48%
• 1M: 2.22%
• YTD: 21.92%
• 6M: 18.03%
• 1Y: 38.31%
• 3Y*: 23.00%
• 5Y*: 13.76%
• 10Y*: 11.48%

ALTY

• 1D: 0.29%
• 1M: 3.08%
• YTD: 10.37%
• 6M: 10.25%
• 1Y: 18.26%
• 3Y*: 14.64%
• 5Y*: 8.50%
• 10Y*: 7.23%

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

PDC.TO vs. ALTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PDC.TO Invesco Canadian Dividend Index ETF	21.92%	21.80%	16.38%	6.97%	-4.17%	30.14%	-5.48%	25.00%	-11.85%	10.27%
ALTY Global X Alternative Income ETF	10.37%	6.00%	20.27%	7.95%	-6.34%	23.02%	-14.89%	16.43%	1.71%	3.32%

Correlation

The correlation between PDC.TO and ALTY is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (10Y) Calculated over the trailing 10-year period	0.48
Correlation (All Time) Calculated using the full available price history since Jul 14, 2015	0.46

The correlation between PDC.TO and ALTY has been stable across timeframes, ranging from 0.46 to 0.51 - a consistent structural relationship.

Return for Risk

PDC.TO vs. ALTY — Risk / Return Rank

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

PDC.TO

PDC.TO Risk / Return Rank: 97
PDC.TO Sharpe Ratio Rank: 98
PDC.TO Sortino Ratio Rank: 97
PDC.TO Omega Ratio Rank: 97
PDC.TO Calmar Ratio Rank: 97
PDC.TO Martin Ratio Rank: 97

ALTY

ALTY Risk / Return Rank: 83
ALTY Sharpe Ratio Rank: 85
ALTY Sortino Ratio Rank: 86
ALTY Omega Ratio Rank: 87
ALTY Calmar Ratio Rank: 73
ALTY Martin Ratio Rank: 84

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.

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

This table presents a comparison of risk-adjusted performance metrics for Invesco Canadian Dividend Index ETF (PDC.TO) and Global X Alternative Income ETF (ALTY). 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.

	PDC.TO	ALTY	Difference
Sharpe ratio: Return per unit of total volatility	4.60	2.52	+2.08
Sortino ratio: Return per unit of downside risk	5.96	3.63	+2.34
Omega ratio: Gain probability vs. loss probability	1.94	1.45	+0.48
Calmar ratio: Return relative to maximum drawdown	9.96	4.89	+5.07
Martin ratio: Return relative to average drawdown	36.92	17.39	+19.53

PDC.TO vs. ALTY - Sharpe Ratio Comparison

The current PDC.TO Sharpe Ratio is 4.60, which is higher than the ALTY Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of PDC.TO and ALTY, 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

PDC.TO vs. ALTY - Drawdown Comparison

The maximum PDC.TO drawdown since its inception was -41.93%, smaller than the maximum ALTY drawdown of -47.79%. Use the drawdown chart below to compare losses from any high point for PDC.TO and ALTY.

Drawdown Indicators

	PDC.TO	ALTY	Difference
Max Drawdown Largest peak-to-trough decline	-41.93%	-47.79%	+5.86%
Max Drawdown (1Y) Largest decline over 1 year	-3.86%	-3.75%	-0.11%
Max Drawdown (3Y) Largest decline over 3 years	-10.85%	-11.36%	+0.51%
Max Drawdown (5Y) Largest decline over 5 years	-17.98%	-14.15%	-3.83%
Max Drawdown (10Y) Largest decline over 10 years	-41.93%	-47.79%	+5.86%
Current Drawdown Current decline from peak	-0.48%	0.00%	-0.48%
Average Drawdown Average peak-to-trough decline	-4.50%	-6.25%	+1.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.04%	1.05%	-0.01%

Volatility

PDC.TO vs. ALTY - Volatility Comparison

Invesco Canadian Dividend Index ETF (PDC.TO) has a higher volatility of 2.34% compared to Global X Alternative Income ETF (ALTY) at 2.22%. This indicates that PDC.TO's price experiences larger fluctuations and is considered to be riskier than ALTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PDC.TO	ALTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.34%	2.22%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	7.29%	5.55%	+1.74%
Volatility (1Y) Calculated over the trailing 1-year period	8.37%	7.29%	+1.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.84%	11.87%	-1.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.27%	17.19%	-1.92%

PDC.TO vs. ALTY - Expense Ratio Comparison

PDC.TO has a 0.58% expense ratio, which is higher than ALTY's 0.50% expense ratio.

Dividends

PDC.TO vs. ALTY - Dividend Comparison

PDC.TO's dividend yield for the trailing twelve months is around 3.24%, less than ALTY's 7.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ALTY Global X Alternative Income ETF	7.46%	7.50%	7.88%	7.31%	7.66%	6.88%	9.20%	8.74%	8.49%	7.52%	8.20%	4.21%
PDC.TO Invesco Canadian Dividend Index ETF	3.24%	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 PDC.TO and ALTY in my portfolio?

PDC.TO and ALTY have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PDC.TO or ALTY?

On fees, ALTY is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PDC.TO or ALTY?

ALTY is cheaper with a 0.50% expense ratio, compared with 0.58% for PDC.TO.

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

PDC.TO is categorized as Dividend, while ALTY is Global Allocation. They also come from different issuers: Invesco and Global X. Their fees differ too: 0.58% for PDC.TO and 0.50% for ALTY.