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

PDC.TO vs. SPHQ

Last updated Jun 24, 2026

PDC.TO (Invesco Canadian Dividend Index ETF) and SPHQ (Invesco S&P 500 Quality ETF) are both exchange-traded funds - PDC.TO is a Dividend fund managed by Invesco, while SPHQ is a S&P 500 fund tracking the S&P 500 Quality Index. Over the past 10 years, PDC.TO returned 11.53%/yr vs 16.60%/yr for SPHQ. At a 0.41 correlation, their price movements are largely independent. PDC.TO charges 0.58%/yr vs 0.15%/yr for SPHQ.

Performance

PDC.TO vs. SPHQ - 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 Quality ETF (SPHQ). 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 SPHQ is traded in USD. To make them comparable, the SPHQ 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 22.51% return, which is significantly higher than SPHQ's 20.48% return. Over the past 10 years, PDC.TO has underperformed SPHQ with an annualized return of 11.53%, while SPHQ has yielded a comparatively higher 16.60% annualized return.

PDC.TO

1D
0.30%
1M
2.66%
YTD
22.51%
6M
18.90%
1Y
39.38%
3Y*
23.19%
5Y*
13.94%
10Y*
11.53%

SPHQ

1D
-3.03%
1M
5.80%
YTD
20.48%
6M
18.54%
1Y
29.67%
3Y*
25.40%
5Y*
17.39%
10Y*
16.60%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PDC.TO vs. SPHQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PDC.TO
Invesco Canadian Dividend Index ETF		22.51%21.80%16.38%6.97%-4.17%30.14%-5.48%25.00%-11.85%10.27%
SPHQ
Invesco S&P 500 Quality ETF		20.48%8.08%36.06%21.86%-10.43%27.97%14.58%28.13%0.72%11.04%

Correlation

The correlation between PDC.TO and SPHQ is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.44

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

0.43

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

0.51

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

0.49

Correlation (All Time)
Calculated using the full available price history since Jun 20, 2011

0.41

The correlation between PDC.TO and SPHQ shifts across timeframes, from 0.41 (all time) to 0.51 (5 years), reflecting how their relationship changes across market environments.

PDC.TO vs. SPHQ - Sectors Allocation Comparison

Sectors
PDC.TO
SPHQ

Financial Services

44.8%
12.4%

Energy

21.2%
0.6%

Utilities

13.9%
0.9%

Consumer Cyclical

6.6%
4.4%

Communication Services

5.0%
2.5%

Basic Materials

3.5%
2.1%

Real Estate

2.4%

-

Industrials

1.1%
22.7%

Consumer Defensive

0.9%
14.4%

Technology

0.7%
32.0%

Healthcare

-

8.0%

Financial Services

PDC.TO
44.8%
SPHQ
12.4%

Energy

PDC.TO
21.2%
SPHQ
0.6%

Utilities

PDC.TO
13.9%
SPHQ
0.9%

Consumer Cyclical

PDC.TO
6.6%
SPHQ
4.4%

Communication Services

PDC.TO
5.0%
SPHQ
2.5%

Basic Materials

PDC.TO
3.5%
SPHQ
2.1%

Real Estate

PDC.TO
2.4%
SPHQ

-

Industrials

PDC.TO
1.1%
SPHQ
22.7%

Consumer Defensive

PDC.TO
0.9%
SPHQ
14.4%

Technology

PDC.TO
0.7%
SPHQ
32.0%

Healthcare

PDC.TO

-

SPHQ
8.0%

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 Quality 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 SPHQ:
SPHQ vs. QUALSPHQ vs. VOOSPHQ vs. SPYSPHQ vs. JQUASPHQ vs. SCHDSPHQ vs. SPYVSPHQ vs. QQQ

Return for Risk

PDC.TO vs. SPHQ — 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: 9797
Overall Rank
PDC.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
PDC.TO Sortino Ratio Rank: 9797
Sortino Ratio Rank
PDC.TO Omega Ratio Rank: 9797
Omega Ratio Rank
PDC.TO Calmar Ratio Rank: 9797
Calmar Ratio Rank
PDC.TO Martin Ratio Rank: 9797
Martin Ratio Rank
SPHQ
SPHQ Risk / Return Rank: 6161
Overall Rank
SPHQ Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
SPHQ Sortino Ratio Rank: 6060
Sortino Ratio Rank
SPHQ Omega Ratio Rank: 5656
Omega Ratio Rank
SPHQ Calmar Ratio Rank: 6161
Calmar Ratio Rank
SPHQ Martin Ratio Rank: 7070
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. SPHQ - 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 Quality ETF (SPHQ). 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.TOSPHQDifference
Sharpe ratioReturn per unit of total volatility
4.74
2.11

+2.63

Sortino ratioReturn per unit of downside risk
6.13
2.99

+3.14

Omega ratioGain probability vs. loss probability

1.97

1.37

+0.61

Calmar ratioReturn relative to maximum drawdown

10.24

4.02

+6.21

Martin ratioReturn relative to average drawdown

37.94

15.60

+22.34

PDC.TO vs. SPHQ - Sharpe Ratio Comparison

The current PDC.TO Sharpe Ratio is 4.74, which is higher than the SPHQ Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of PDC.TO and SPHQ, 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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Drawdowns

PDC.TO vs. SPHQ - Drawdown Comparison

The maximum PDC.TO drawdown since its inception was -41.93%, smaller than the maximum SPHQ drawdown of -48.08%. Use the drawdown chart below to compare losses from any high point for PDC.TO and SPHQ.

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Drawdown Indicators

PDC.TOSPHQDifference

Max Drawdown

Largest peak-to-trough decline

-41.93%

-48.08%

+6.15%

Max Drawdown (1Y)

Largest decline over 1 year

-3.86%

-7.41%

+3.55%

Max Drawdown (3Y)

Largest decline over 3 years

-10.85%

-17.50%

+6.65%

Max Drawdown (5Y)

Largest decline over 5 years

-17.98%

-22.40%

+4.42%

Max Drawdown (10Y)

Largest decline over 10 years

-41.93%

-25.58%

-16.35%

Current Drawdown

Current decline from peak

0.00%

-3.03%

+3.03%

Average Drawdown

Average peak-to-trough decline

-4.50%

-10.87%

+6.37%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.04%

1.91%

-0.87%

Volatility

PDC.TO vs. SPHQ - Volatility Comparison

The current volatility for Invesco Canadian Dividend Index ETF (PDC.TO) is 2.30%, while Invesco S&P 500 Quality ETF (SPHQ) has a volatility of 6.30%. This indicates that PDC.TO experiences smaller price fluctuations and is considered to be less risky than SPHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PDC.TOSPHQDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.30%

6.30%

-4.00%

Volatility (6M)

Calculated over the trailing 6-month period

7.27%

12.11%

-4.84%

Volatility (1Y)

Calculated over the trailing 1-year period

8.35%

14.22%

-5.87%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.84%

17.69%

-6.85%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.28%

19.06%

-3.78%

PDC.TO vs. SPHQ - Expense Ratio Comparison

PDC.TO has a 0.58% expense ratio, which is higher than SPHQ's 0.15% expense ratio.

Dividends

PDC.TO vs. SPHQ - Dividend Comparison

PDC.TO's dividend yield for the trailing twelve months is around 3.22%, more than SPHQ's 1.07% yield.

PositionTTM20252024202320222021202020192018201720162015
PDC.TO
Invesco Canadian Dividend Index ETF		3.22%3.96%4.48%4.77%4.24%3.65%5.07%4.33%5.12%4.23%3.77%4.39%
SPHQ
Invesco S&P 500 Quality ETF		1.07%1.09%1.15%1.42%1.85%1.19%1.55%1.51%1.85%1.57%1.67%2.29%

Frequently Asked Questions

PDC.TO and SPHQ have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SPHQ is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SPHQ is cheaper with a 0.15% expense ratio, compared with 0.58% for PDC.TO.

PDC.TO is categorized as Dividend, while SPHQ is S&P 500. Their fees differ too: 0.58% for PDC.TO and 0.15% for SPHQ.

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