PDC.TO vs. LVHD

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco Canadian Dividend Index ETF (PDC.TO) and Legg Mason Low Volatility High Dividend ETF (LVHD).

PDC.TO and LVHD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PDC.TO is managed by Invesco. LVHD is a passively managed fund by Franklin Templeton that tracks the performance of the QS Low Volatility High Dividend Index. It was launched on Dec 29, 2015.

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.

PDC.TO vs. LVHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PDC.TO Invesco Canadian Dividend Index ETF	9.18%	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	8.37%	2.57%	19.64%	-3.13%	5.18%	25.76%	-2.95%	16.87%	2.42%	6.97%

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 9.18% return, which is significantly higher than LVHD's 8.37% return. Over the past 10 years, PDC.TO has outperformed LVHD with an annualized return of 10.43%, while LVHD has yielded a comparatively lower 8.92% annualized return.

PDC.TO

• 1D: 1.12%
• 1M: -1.10%
• YTD: 9.18%
• 6M: 10.22%
• 1Y: 30.92%
• 3Y*: 17.13%
• 5Y*: 12.79%
• 10Y*: 10.43%

LVHD

• 1D: 0.22%
• 1M: -2.69%
• YTD: 8.37%
• 6M: 4.87%
• 1Y: 3.86%
• 3Y*: 9.57%
• 5Y*: 9.83%
• 10Y*: 8.92%

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

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.

PDC.TO

Invesco Canadian Dividend Index ETF

LVHD

Legg Mason Low Volatility High Dividend ETF

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: 97
PDC.TO Sharpe Ratio Rank: 98
PDC.TO Sortino Ratio Rank: 97
PDC.TO Omega Ratio Rank: 98
PDC.TO Calmar Ratio Rank: 94
PDC.TO Martin Ratio Rank: 97

LVHD

LVHD Risk / Return Rank: 37
LVHD Sharpe Ratio Rank: 36
LVHD Sortino Ratio Rank: 34
LVHD Omega Ratio Rank: 32
LVHD Calmar Ratio Rank: 43
LVHD Martin Ratio Rank: 41

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.TO	LVHD	Difference
Sharpe ratio Return per unit of total volatility	3.10	0.32	+2.78
Sortino ratio Return per unit of downside risk	3.72	0.52	+3.20
Omega ratio Gain probability vs. loss probability	1.68	1.07	+0.61
Calmar ratio Return relative to maximum drawdown	3.76	0.62	+3.14
Martin ratio Return relative to average drawdown	19.20	1.35	+17.85
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 3.10, which is higher than the LVHD Sharpe Ratio of 0.32. The chart below compares the historical Sharpe Ratios of PDC.TO and LVHD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PDC.TO	LVHD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.10	0.32	+2.78
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.20	0.85	+0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	0.63	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.63	+0.09

Correlation

The correlation between PDC.TO and LVHD is 0.43, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

PDC.TO vs. LVHD - Dividend Comparison

PDC.TO's dividend yield for the trailing twelve months is around 3.57%, more than LVHD's 3.19% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PDC.TO Invesco Canadian Dividend Index ETF	3.57%	3.84%	4.29%	4.56%	4.05%	3.49%	4.85%	4.14%	4.90%	4.05%	3.61%	4.20%
LVHD Legg Mason Low Volatility High Dividend ETF	3.19%	3.35%	4.23%	3.55%	3.30%	2.56%	3.27%	3.30%	3.82%	3.33%	2.48%	0.00%

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.

Drawdown Indicators

	PDC.TO	LVHD	Difference
Max Drawdown Largest peak-to-trough decline	-41.94%	-37.32%	-4.62%
Max Drawdown (1Y) Largest decline over 1 year	-8.43%	-8.52%	+0.09%
Max Drawdown (5Y) Largest decline over 5 years	-18.24%	-16.75%	-1.49%
Max Drawdown (10Y) Largest decline over 10 years	-41.94%	-37.32%	-4.62%
Current Drawdown Current decline from peak	-1.72%	-4.66%	+2.94%
Average Drawdown Average peak-to-trough decline	-4.61%	-4.05%	-0.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.65%	2.47%	-0.82%

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 3.33% and 3.20%, 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

	PDC.TO	LVHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.33%	3.20%	+0.13%
Volatility (6M) Calculated over the trailing 6-month period	6.85%	6.99%	-0.14%
Volatility (1Y) Calculated over the trailing 1-year period	10.03%	12.11%	-2.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.76%	11.60%	-0.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.28%	14.16%	+1.12%