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PDC.TO vs. LVHD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PDC.TO vs. LVHD

Last updated Jun 4, 2026

PDC.TO (Invesco Canadian Dividend Index ETF) and LVHD (Legg Mason Low Volatility High Dividend ETF) are both exchange-traded funds - PDC.TO is a Dividend fund managed by Invesco, while LVHD is a Volatility Hedged Equity fund tracking the QS Low Volatility High Dividend Index. Over the past 10 years, PDC.TO returned 10.86%/yr vs 8.81%/yr for LVHD. At a 0.43 correlation, their price movements are largely independent. PDC.TO charges 0.58%/yr vs 0.27%/yr for LVHD.

Performance

PDC.TO vs. LVHD - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Invesco Canadian Dividend Index ETF (PDC.TO) and Legg Mason Low Volatility High Dividend ETF (LVHD). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

PDC.TO is traded in CAD, while LVHD is traded in USD. To make them comparable, the LVHD 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 19.02% return, which is significantly higher than LVHD's 8.08% return. Over the past 10 years, PDC.TO has outperformed LVHD with an annualized return of 10.86%, while LVHD has yielded a comparatively lower 8.81% annualized return.

PDC.TO

1D
0.25%
1M
4.67%
YTD
19.02%
6M
17.30%
1Y
35.38%
3Y*
20.15%
5Y*
13.12%
10Y*
10.86%

LVHD

1D
0.27%
1M
0.70%
YTD
8.08%
6M
6.10%
1Y
11.01%
3Y*
10.60%
5Y*
9.09%
10Y*
8.81%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PDC.TO vs. LVHD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PDC.TO
Invesco Canadian Dividend Index ETF		19.02%21.62%16.14%6.74%-4.34%29.91%-5.70%24.75%-12.03%10.06%
LVHD
Legg Mason Low Volatility High Dividend ETF		8.08%2.57%19.64%-3.13%5.18%25.76%-2.95%16.87%2.42%6.97%

Correlation

The correlation between PDC.TO and LVHD is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.45

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

0.48

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

0.44

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

0.45

Correlation (All Time)
Calculated using the full available price history since Dec 30, 2015

0.43

PDC.TO vs. LVHD - Sectors Allocation Comparison

Sectors
PDC.TO
LVHD

Financial Services

44.7%
8.6%

Energy

21.8%
6.7%

Utilities

13.7%
25.5%

Consumer Cyclical

6.6%
6.8%

Communication Services

4.8%
3.8%

Basic Materials

3.5%

-

Real Estate

2.3%
15.0%

Industrials

1.0%
4.6%

Consumer Defensive

0.8%
18.5%

Technology

0.7%
5.9%

Healthcare

-

4.6%

Financial Services

PDC.TO
44.7%
LVHD
8.6%

Energy

PDC.TO
21.8%
LVHD
6.7%

Utilities

PDC.TO
13.7%
LVHD
25.5%

Consumer Cyclical

PDC.TO
6.6%
LVHD
6.8%

Communication Services

PDC.TO
4.8%
LVHD
3.8%

Basic Materials

PDC.TO
3.5%
LVHD

-

Real Estate

PDC.TO
2.3%
LVHD
15.0%

Industrials

PDC.TO
1.0%
LVHD
4.6%

Consumer Defensive

PDC.TO
0.8%
LVHD
18.5%

Technology

PDC.TO
0.7%
LVHD
5.9%

Healthcare

PDC.TO

-

LVHD
4.6%

Compare stocks, funds, or ETFs

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

Invesco Canadian Dividend Index ETF

Legg Mason Low Volatility High Dividend ETF

Often compared with PDC.TO:
PDC.TO vs. XDIV.TOPDC.TO vs. RCD.TOPDC.TO vs. VDY.TOPDC.TO vs. PDIV.TOPDC.TO vs. RBNK.TOPDC.TO vs. XDV.TOPDC.TO vs. DFND
Often compared with LVHD:
LVHD vs. SCHDLVHD vs. SPHDLVHD vs. FDLLVHD vs. BLVLVHD vs. JEPILVHD vs. SPYLVHD vs. DGRO

Return for Risk

PDC.TO vs. LVHD — 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: 9696
Overall Rank
PDC.TO Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
PDC.TO Sortino Ratio Rank: 9696
Sortino Ratio Rank
PDC.TO Omega Ratio Rank: 9797
Omega Ratio Rank
PDC.TO Calmar Ratio Rank: 9696
Calmar Ratio Rank
PDC.TO Martin Ratio Rank: 9696
Martin Ratio Rank
LVHD
LVHD Risk / Return Rank: 2828
Overall Rank
LVHD Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
LVHD Sortino Ratio Rank: 2727
Sortino Ratio Rank
LVHD Omega Ratio Rank: 2525
Omega Ratio Rank
LVHD Calmar Ratio Rank: 3131
Calmar Ratio Rank
LVHD Martin Ratio Rank: 2828
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.

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

This table presents a comparison of risk-adjusted performance metrics for Invesco Canadian Dividend Index ETF (PDC.TO) and Legg Mason Low Volatility High Dividend ETF (LVHD). 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.

PDC.TOLVHDDifference

Sharpe ratio

Return per unit of total volatility

4.30

1.12

+3.18

Sortino ratio

Return per unit of downside risk

5.59

1.67

+3.92

Omega ratio

Gain probability vs. loss probability

1.89

1.19

+0.70

Calmar ratio

Return relative to maximum drawdown

9.20

1.89

+7.31

Martin ratio

Return relative to average drawdown

34.01

4.61

+29.40

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PDC.TO vs. LVHD - Sharpe Ratio Comparison

The current PDC.TO Sharpe Ratio is 4.30, which is higher than the LVHD Sharpe Ratio of 1.12. The chart below compares the historical Sharpe Ratios of PDC.TO and LVHD, 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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Sharpe Ratios by Period

PDC.TOLVHDDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

4.30

1.12

+3.18

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.22

0.79

+0.43

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.71

0.62

+0.09

Sharpe Ratio (All Time)

Calculated using the full available price history

0.75

0.62

+0.14

Drawdowns

PDC.TO vs. LVHD - Drawdown Comparison

The maximum PDC.TO drawdown since its inception was -41.94%, which is greater than LVHD's maximum drawdown of -31.39%. Use the drawdown chart below to compare losses from any high point for PDC.TO and LVHD.

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Drawdown Indicators

PDC.TOLVHDDifference

Max Drawdown

Largest peak-to-trough decline

-41.94%

-31.39%

-10.55%

Max Drawdown (1Y)

Largest decline over 1 year

-3.86%

-5.85%

+1.99%

Max Drawdown (3Y)

Largest decline over 3 years

-10.91%

-10.88%

-0.03%

Max Drawdown (5Y)

Largest decline over 5 years

-18.24%

-13.49%

-4.75%

Max Drawdown (10Y)

Largest decline over 10 years

-41.94%

-31.39%

-10.55%

Current Drawdown

Current decline from peak

-0.26%

-3.28%

+3.02%

Average Drawdown

Average peak-to-trough decline

-4.56%

-3.96%

-0.60%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.04%

2.40%

-1.36%

Volatility

PDC.TO vs. LVHD - Volatility Comparison

Invesco Canadian Dividend Index ETF (PDC.TO) and Legg Mason Low Volatility High Dividend ETF (LVHD) have volatilities of 2.97% and 3.08%, 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.

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Volatility by Period

PDC.TOLVHDDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.97%

3.08%

-0.11%

Volatility (6M)

Calculated over the trailing 6-month period

7.24%

7.35%

-0.11%

Volatility (1Y)

Calculated over the trailing 1-year period

8.27%

9.90%

-1.63%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.84%

11.60%

-0.76%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.29%

14.17%

+1.12%

PDC.TO vs. LVHD - Expense Ratio Comparison

PDC.TO has a 0.58% expense ratio, which is higher than LVHD's 0.27% expense ratio.

Dividends

PDC.TO vs. LVHD - Dividend Comparison

PDC.TO's dividend yield for the trailing twelve months is around 3.26%, less than LVHD's 3.40% yield.

PositionTTM20252024202320222021202020192018201720162015
LVHD
Legg Mason Low Volatility High Dividend ETF		3.40%3.35%4.23%3.55%3.30%2.56%3.27%3.30%3.82%3.33%2.48%0.00%
PDC.TO
Invesco Canadian Dividend Index ETF		3.26%3.84%4.29%4.56%4.05%3.49%4.85%4.14%4.90%4.05%3.61%4.20%

Frequently Asked Questions

PDC.TO and LVHD have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, LVHD is cheaper at 0.27% per year. The better choice depends on whether you care most about return, fees, risk, or income.

LVHD is cheaper with a 0.27% expense ratio, compared with 0.58% for PDC.TO.

PDC.TO is categorized as Dividend, while LVHD is Volatility Hedged Equity. They also come from different issuers: Invesco and Franklin Templeton. Their fees differ too: 0.58% for PDC.TO and 0.27% for LVHD.

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