PDC.TO vs. HIGH

Last updated Jul 14, 2026

PDC.TO (Invesco Canadian Dividend Index ETF) and HIGH (Simplify Enhanced Income ETF) are both exchange-traded funds - PDC.TO is a Dividend fund managed by Invesco, while HIGH is a Derivative Income fund actively managed by Simplify. Over the past 3 years, PDC.TO returned 22.33%/yr vs 5.50%/yr for HIGH. At a 0.11 correlation, their price movements are largely independent. PDC.TO charges 0.58%/yr vs 0.50%/yr for HIGH.

Performance

PDC.TO vs. HIGH - Performance Comparison

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

Different Trading Currencies

PDC.TO is traded in CAD, while HIGH is traded in USD. To make them comparable, the HIGH 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 24.43% return, which is significantly higher than HIGH's 3.03% return.

PDC.TO

• 1D: 0.48%
• 1M: 2.42%
• 6M: 23.74%
• YTD: 24.43%
• 1Y: 38.14%
• 3Y*: 22.33%
• 5Y*: 14.30%
• 10Y*: 11.31%

HIGH

• 1D: -0.27%
• 1M: 1.44%
• 6M: 1.03%
• YTD: 3.03%
• 1Y: 0.51%
• 3Y*: 5.50%
• 5Y*: —
• 10Y*: —

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

PDC.TO vs. HIGH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PDC.TO Invesco Canadian Dividend Index ETF	24.43%	21.80%	16.38%	6.97%	-0.24%
HIGH Simplify Enhanced Income ETF	3.03%	-0.41%	10.11%	5.14%	0.38%

Correlation

The correlation between PDC.TO and HIGH is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (All Time) Calculated using the full available price history since Oct 28, 2022	0.11

Return for Risk

PDC.TO vs. HIGH — 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: 98
PDC.TO Sharpe Ratio Rank: 98
PDC.TO Sortino Ratio Rank: 97
PDC.TO Omega Ratio Rank: 98
PDC.TO Calmar Ratio Rank: 98
PDC.TO Martin Ratio Rank: 97

HIGH

HIGH Risk / Return Rank: 5
HIGH Sharpe Ratio Rank: 6
HIGH Sortino Ratio Rank: 5
HIGH Omega Ratio Rank: 5
HIGH Calmar Ratio Rank: 5
HIGH Martin Ratio Rank: 6

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. HIGH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Canadian Dividend Index ETF (PDC.TO) and Simplify Enhanced Income ETF (HIGH). 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	HIGH	Difference
Sharpe ratio: Return per unit of total volatility	4.55	0.06	+4.49
Sortino ratio: Return per unit of downside risk	5.93	0.15	+5.78
Omega ratio: Gain probability vs. loss probability	1.92	1.02	+0.90
Calmar ratio: Return relative to maximum drawdown	9.92	0.05	+9.86
Martin ratio: Return relative to average drawdown	36.70	0.10	+36.60

PDC.TO vs. HIGH - Sharpe Ratio Comparison

The current PDC.TO Sharpe Ratio is 4.55, which is higher than the HIGH Sharpe Ratio of 0.06. The chart below compares the historical Sharpe Ratios of PDC.TO and HIGH, 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. HIGH - Drawdown Comparison

The maximum PDC.TO drawdown since its inception was -41.93%, which is greater than HIGH's maximum drawdown of -11.17%. Use the drawdown chart below to compare losses from any high point for PDC.TO and HIGH.

Drawdown Indicators

	PDC.TO	HIGH	Difference
Max Drawdown Largest peak-to-trough decline	-41.93%	-11.17%	-30.76%
Max Drawdown (1Y) Largest decline over 1 year	-3.86%	-9.63%	+5.77%
Max Drawdown (3Y) Largest decline over 3 years	-10.85%	-11.17%	+0.32%
Max Drawdown (5Y) Largest decline over 5 years	-17.98%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-41.93%	—	—
Current Drawdown Current decline from peak	0.00%	-5.11%	+5.11%
Average Drawdown Average peak-to-trough decline	-4.49%	-3.34%	-1.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.04%	5.37%	-4.33%

Volatility

PDC.TO vs. HIGH - Volatility Comparison

The current volatility for Invesco Canadian Dividend Index ETF (PDC.TO) is 2.04%, while Simplify Enhanced Income ETF (HIGH) has a volatility of 2.35%. This indicates that PDC.TO experiences smaller price fluctuations and is considered to be less risky than HIGH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PDC.TO	HIGH	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.04%	2.35%	-0.31%
Volatility (6M) Calculated over the trailing 6-month period	6.48%	5.31%	+1.17%
Volatility (1Y) Calculated over the trailing 1-year period	8.45%	8.55%	-0.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.85%	11.02%	-0.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.27%	11.02%	+4.25%

PDC.TO vs. HIGH - Expense Ratio Comparison

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

Dividends

PDC.TO vs. HIGH - Dividend Comparison

PDC.TO's dividend yield for the trailing twelve months is around 3.18%, less than HIGH's 7.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HIGH Simplify Enhanced Income ETF	7.09%	7.71%	8.34%	9.40%	0.62%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PDC.TO Invesco Canadian Dividend Index ETF	3.18%	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 HIGH in my portfolio?

PDC.TO and HIGH have a correlation of 0.17, 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 HIGH?

On fees, HIGH 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 HIGH?

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

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

PDC.TO is categorized as Dividend, while HIGH is Derivative Income. They also come from different issuers: Invesco and Simplify. Their fees differ too: 0.58% for PDC.TO and 0.50% for HIGH.