PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
PDC.TO vs. SPHD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PDC.TO vs. SPHD

Last updated Jun 4, 2026

PDC.TO (Invesco Canadian Dividend Index ETF) and SPHD (Invesco S&P 500® High Dividend Low Volatility ETF) are both exchange-traded funds - PDC.TO is a Dividend fund managed by Invesco, while SPHD is a S&P 500 fund tracking the S&P Low Volatility High Dividend index. Over the past 10 years, PDC.TO returned 10.86%/yr vs 7.86%/yr for SPHD. At a 0.48 correlation, their price movements are largely independent. PDC.TO charges 0.58%/yr vs 0.30%/yr for SPHD.

Performance

PDC.TO vs. SPHD - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Invesco Canadian Dividend Index ETF (PDC.TO) and Invesco S&P 500® High Dividend Low Volatility ETF (SPHD). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

PDC.TO is traded in CAD, while SPHD is traded in USD. To make them comparable, the SPHD 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 SPHD's 5.71% return. Over the past 10 years, PDC.TO has outperformed SPHD with an annualized return of 10.86%, while SPHD has yielded a comparatively lower 7.86% 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%

SPHD

1D
-0.48%
1M
1.16%
YTD
5.71%
6M
4.23%
1Y
9.51%
3Y*
12.71%
5Y*
8.50%
10Y*
7.86%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PDC.TO vs. SPHD - 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%
SPHD
Invesco S&P 500® High Dividend Low Volatility ETF		5.71%-1.34%28.22%-0.92%7.75%23.85%-11.50%14.35%1.79%4.78%

Correlation

The correlation between PDC.TO and SPHD is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.49

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

0.52

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

0.53

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

0.54

Correlation (All Time)
Calculated using the full available price history since Oct 29, 2012

0.48

The correlation between PDC.TO and SPHD has been stable across timeframes, ranging from 0.48 to 0.54 - a consistent structural relationship.

PDC.TO vs. SPHD - Sectors Allocation Comparison

Sectors
PDC.TO
SPHD

Financial Services

44.7%
15.6%

Energy

21.8%
14.1%

Utilities

13.7%
13.7%

Consumer Cyclical

6.6%
3.4%

Communication Services

4.8%
8.6%

Basic Materials

3.5%

-

Real Estate

2.3%
20.1%

Industrials

1.0%
0.0%

Consumer Defensive

0.8%
17.8%

Technology

0.7%
1.5%

Healthcare

-

5.1%

Financial Services

PDC.TO
44.7%
SPHD
15.6%

Energy

PDC.TO
21.8%
SPHD
14.1%

Utilities

PDC.TO
13.7%
SPHD
13.7%

Consumer Cyclical

PDC.TO
6.6%
SPHD
3.4%

Communication Services

PDC.TO
4.8%
SPHD
8.6%

Basic Materials

PDC.TO
3.5%
SPHD

-

Real Estate

PDC.TO
2.3%
SPHD
20.1%

Industrials

PDC.TO
1.0%
SPHD
0.0%

Consumer Defensive

PDC.TO
0.8%
SPHD
17.8%

Technology

PDC.TO
0.7%
SPHD
1.5%

Healthcare

PDC.TO

-

SPHD
5.1%

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

Invesco S&P 500® High Dividend Low Volatility 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 SPHD:
SPHD vs. SCHDSPHD vs. JEPISPHD vs. SPYDSPHD vs. VYMSPHD vs. SPYSPHD vs. SPLVSPHD vs. VOO

Return for Risk

PDC.TO vs. SPHD — 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
SPHD
SPHD Risk / Return Rank: 2121
Overall Rank
SPHD Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
SPHD Sortino Ratio Rank: 2121
Sortino Ratio Rank
SPHD Omega Ratio Rank: 1919
Omega Ratio Rank
SPHD Calmar Ratio Rank: 2323
Calmar Ratio Rank
SPHD Martin Ratio Rank: 2222
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. SPHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Canadian Dividend Index ETF (PDC.TO) and Invesco S&P 500® High Dividend Low Volatility ETF (SPHD). 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.TOSPHDDifference

Sharpe ratio

Return per unit of total volatility

4.30

0.87

+3.43

Sortino ratio

Return per unit of downside risk

5.59

1.34

+4.25

Omega ratio

Gain probability vs. loss probability

1.89

1.15

+0.74

Calmar ratio

Return relative to maximum drawdown

9.20

1.36

+7.84

Martin ratio

Return relative to average drawdown

34.01

3.48

+30.53

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. SPHD - Sharpe Ratio Comparison

The current PDC.TO Sharpe Ratio is 4.30, which is higher than the SPHD Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of PDC.TO and SPHD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

PDC.TOSPHDDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

4.30

0.87

+3.43

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.22

0.69

+0.53

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.71

0.50

+0.22

Sharpe Ratio (All Time)

Calculated using the full available price history

0.75

0.82

-0.06

Drawdowns

PDC.TO vs. SPHD - Drawdown Comparison

The maximum PDC.TO drawdown since its inception was -41.94%, which is greater than SPHD's maximum drawdown of -35.00%. Use the drawdown chart below to compare losses from any high point for PDC.TO and SPHD.

Loading charts...

Drawdown Indicators

PDC.TOSPHDDifference

Max Drawdown

Largest peak-to-trough decline

-41.94%

-35.00%

-6.94%

Max Drawdown (1Y)

Largest decline over 1 year

-3.86%

-7.02%

+3.16%

Max Drawdown (3Y)

Largest decline over 3 years

-10.91%

-13.37%

+2.46%

Max Drawdown (5Y)

Largest decline over 5 years

-18.24%

-13.37%

-4.87%

Max Drawdown (10Y)

Largest decline over 10 years

-41.94%

-35.00%

-6.94%

Current Drawdown

Current decline from peak

-0.26%

-3.83%

+3.57%

Average Drawdown

Average peak-to-trough decline

-4.56%

-4.02%

-0.54%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.04%

2.74%

-1.70%

Volatility

PDC.TO vs. SPHD - Volatility Comparison

The current volatility for Invesco Canadian Dividend Index ETF (PDC.TO) is 2.97%, while Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) has a volatility of 3.13%. This indicates that PDC.TO experiences smaller price fluctuations and is considered to be less risky than SPHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

PDC.TOSPHDDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.97%

3.13%

-0.16%

Volatility (6M)

Calculated over the trailing 6-month period

7.24%

8.02%

-0.78%

Volatility (1Y)

Calculated over the trailing 1-year period

8.27%

11.00%

-2.73%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.84%

12.42%

-1.58%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.29%

15.91%

-0.62%

PDC.TO vs. SPHD - Expense Ratio Comparison

PDC.TO has a 0.58% expense ratio, which is higher than SPHD's 0.30% expense ratio.

Dividends

PDC.TO vs. SPHD - Dividend Comparison

PDC.TO's dividend yield for the trailing twelve months is around 3.26%, less than SPHD's 4.62% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
SPHD
Invesco S&P 500® High Dividend Low Volatility ETF		4.62%4.02%3.41%4.48%3.89%3.45%4.89%4.07%4.40%3.14%3.83%3.49%

Frequently Asked Questions

PDC.TO and SPHD have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SPHD is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SPHD is cheaper with a 0.30% expense ratio, compared with 0.58% for PDC.TO.

PDC.TO is categorized as Dividend, while SPHD is S&P 500. Their fees differ too: 0.58% for PDC.TO and 0.30% for SPHD.

Portfolio Optimizer

Find the right allocation for PDC.TO and SPHD

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer