PDN vs. CGV
Compare and contrast key facts about Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN) and Conductor Global Equity Value ETF (CGV).
PDN and CGV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PDN is a passively managed fund by Invesco that tracks the performance of the FTSE RAFI Developed x US Mid/Small. It was launched on Sep 27, 2007. CGV is an actively managed fund by Conductor Fund. It was launched on Apr 19, 2016.
Performance
PDN vs. CGV - Performance Comparison
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PDN vs. CGV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PDN Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF | 3.50% | 38.34% | 0.57% | 13.35% | -2.78% |
CGV Conductor Global Equity Value ETF | 6.16% | 23.11% | -3.34% | 5.72% | 3.44% |
Returns By Period
In the year-to-date period, PDN achieves a 3.50% return, which is significantly lower than CGV's 6.16% return.
PDN
- 1D
- 3.25%
- 1M
- -8.12%
- YTD
- 3.50%
- 6M
- 7.50%
- 1Y
- 34.17%
- 3Y*
- 15.65%
- 5Y*
- 6.49%
- 10Y*
- 8.23%
CGV
- 1D
- 2.83%
- 1M
- -8.21%
- YTD
- 6.16%
- 6M
- 9.28%
- 1Y
- 30.67%
- 3Y*
- 9.97%
- 5Y*
- —
- 10Y*
- —
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PDN vs. CGV - Expense Ratio Comparison
PDN has a 0.49% expense ratio, which is lower than CGV's 1.25% expense ratio.
Return for Risk
PDN vs. CGV — Risk / Return Rank
PDN
CGV
PDN vs. CGV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN) and Conductor Global Equity Value ETF (CGV). 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.
| PDN | CGV | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.05 | 1.90 | +0.15 |
Sortino ratioReturn per unit of downside risk | 2.78 | 2.54 | +0.24 |
Omega ratioGain probability vs. loss probability | 1.41 | 1.39 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 2.95 | 2.49 | +0.46 |
Martin ratioReturn relative to average drawdown | 11.91 | 9.59 | +2.32 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PDN | CGV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.05 | 1.90 | +0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.40 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.49 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 0.69 | -0.43 |
Correlation
The correlation between PDN and CGV is 0.84, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
PDN vs. CGV - Dividend Comparison
PDN's dividend yield for the trailing twelve months is around 3.29%, less than CGV's 5.17% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PDN Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF | 3.29% | 3.36% | 3.36% | 3.16% | 2.68% | 2.42% | 1.79% | 2.60% | 2.21% | 2.42% | 2.16% | 2.06% |
CGV Conductor Global Equity Value ETF | 5.17% | 4.58% | 2.87% | 4.56% | 0.71% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
PDN vs. CGV - Drawdown Comparison
The maximum PDN drawdown since its inception was -59.32%, which is greater than CGV's maximum drawdown of -16.64%. Use the drawdown chart below to compare losses from any high point for PDN and CGV.
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Drawdown Indicators
| PDN | CGV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.32% | -16.64% | -42.68% |
Max Drawdown (1Y)Largest decline over 1 year | -11.26% | -12.13% | +0.87% |
Max Drawdown (5Y)Largest decline over 5 years | -33.68% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -41.94% | — | — |
Current DrawdownCurrent decline from peak | -8.12% | -8.21% | +0.09% |
Average DrawdownAverage peak-to-trough decline | -11.68% | -3.67% | -8.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.79% | 3.15% | -0.36% |
Volatility
PDN vs. CGV - Volatility Comparison
Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN) has a higher volatility of 7.69% compared to Conductor Global Equity Value ETF (CGV) at 6.94%. This indicates that PDN's price experiences larger fluctuations and is considered to be riskier than CGV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PDN | CGV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.69% | 6.94% | +0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 11.00% | 10.88% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.77% | 16.21% | +0.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.18% | 13.39% | +2.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.99% | 13.39% | +3.60% |