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PFL.TO vs. DCG.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PFL.TO vs. DCG.TO

Last updated Jul 17, 2026
Documentation

PFL.TO (Invesco Canadian Government Floating Rate Index ETF) and DCG.TO (Desjardins 1-5 Year Laddered Canadian Government Bond Index ETF) are both Canadian Government Bonds funds. PFL.TO is passively managed, while DCG.TO is actively managed. Over the past 5 years, PFL.TO returned 3.15%/yr vs 1.69%/yr for DCG.TO. At a correlation of -0.00, they often move in opposite directions.

Performance

PFL.TO vs. DCG.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Invesco Canadian Government Floating Rate Index ETF (PFL.TO) and Desjardins 1-5 Year Laddered Canadian Government Bond Index ETF (DCG.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, PFL.TO achieves a 1.31% return, which is significantly higher than DCG.TO's 1.22% return.

PFL.TO

1D
0.00%
1M
0.15%
6M
1.31%
YTD
1.31%
1Y
2.62%
3Y*
3.72%
5Y*
3.15%
10Y*
2.16%

DCG.TO

1D
-0.05%
1M
-0.14%
6M
0.83%
YTD
1.22%
1Y
3.10%
3Y*
4.50%
5Y*
1.69%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

PFL.TO vs. DCG.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PFL.TO
Invesco Canadian Government Floating Rate Index ETF		1.31%3.00%4.53%5.09%1.78%0.25%0.91%1.80%1.09%1.16%
DCG.TO
Desjardins 1-5 Year Laddered Canadian Government Bond Index ETF		1.22%3.26%5.08%4.55%-4.45%-1.35%5.28%3.82%0.22%-0.15%

Correlation

The correlation between PFL.TO and DCG.TO is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.11

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

-0.01

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

-0.02

Correlation (All Time)
Calculated using the full available price history since Apr 4, 2017

-0.00

The correlation between PFL.TO and DCG.TO shifts across timeframes, from -0.02 (5 years) to 0.11 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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Invesco Canadian Government Floating Rate Index ETF

Desjardins 1-5 Year Laddered Canadian Government Bond Index ETF

Often compared with PFL.TO:
PFL.TO vs. ZSB.TOPFL.TO vs. XLB.TOPFL.TO vs. XSTB.TOPFL.TO vs. ESG.TOPFL.TO vs. XFR.TOPFL.TO vs. ZDB.TOPFL.TO vs. ESGC.TO
Often compared with DCG.TO:
DCG.TO vs. DRMD.TODCG.TO vs. DANC.TODCG.TO vs. DCS.TODCG.TO vs. DRFD.TODCG.TO vs. DRFE.TODCG.TO vs. DRFG.TODCG.TO vs. DRFU.TO

Return for Risk

PFL.TO vs. DCG.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PFL.TO
PFL.TO Risk / Return Rank: 9797
Overall Rank
PFL.TO Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
PFL.TO Sortino Ratio Rank: 9797
Sortino Ratio Rank
PFL.TO Omega Ratio Rank: 9797
Omega Ratio Rank
PFL.TO Calmar Ratio Rank: 9999
Calmar Ratio Rank
PFL.TO Martin Ratio Rank: 9898
Martin Ratio Rank
DCG.TO
DCG.TO Risk / Return Rank: 4848
Overall Rank
DCG.TO Sharpe Ratio Rank: 4545
Sharpe Ratio Rank
DCG.TO Sortino Ratio Rank: 4242
Sortino Ratio Rank
DCG.TO Omega Ratio Rank: 5858
Omega Ratio Rank
DCG.TO Calmar Ratio Rank: 4747
Calmar Ratio Rank
DCG.TO Martin Ratio Rank: 4747
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.

PFL.TO vs. DCG.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Canadian Government Floating Rate Index ETF (PFL.TO) and Desjardins 1-5 Year Laddered Canadian Government Bond Index ETF (DCG.TO). 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.

PFL.TODCG.TODifference
Sharpe ratioReturn per unit of total volatility
3.20
1.29

+1.91

Sortino ratioReturn per unit of downside risk
5.54
1.81

+3.73

Omega ratioGain probability vs. loss probability

1.75

1.29

+0.47

Calmar ratioReturn relative to maximum drawdown

17.09

1.93

+15.15

Martin ratioReturn relative to average drawdown

55.86

6.16

+49.70

PFL.TO vs. DCG.TO - Sharpe Ratio Comparison

The current PFL.TO Sharpe Ratio is 3.20, which is higher than the DCG.TO Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of PFL.TO and DCG.TO, 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

PFL.TO vs. DCG.TO - Drawdown Comparison

The maximum PFL.TO drawdown since its inception was -2.07%, smaller than the maximum DCG.TO drawdown of -8.19%. Use the drawdown chart below to compare losses from any high point for PFL.TO and DCG.TO.

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Drawdown Indicators

PFL.TODCG.TODifference

Max Drawdown

Largest peak-to-trough decline

-2.07%

-8.19%

+6.12%

Max Drawdown (1Y)

Largest decline over 1 year

-0.15%

-1.61%

+1.46%

Max Drawdown (3Y)

Largest decline over 3 years

-0.22%

-1.61%

+1.39%

Max Drawdown (5Y)

Largest decline over 5 years

-0.30%

-7.39%

+7.09%

Max Drawdown (10Y)

Largest decline over 10 years

-2.07%

—

—

Current Drawdown

Current decline from peak

0.00%

-0.27%

+0.27%

Average Drawdown

Average peak-to-trough decline

-0.08%

-1.82%

+1.74%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.05%

0.50%

-0.45%

Volatility

PFL.TO vs. DCG.TO - Volatility Comparison

The current volatility for Invesco Canadian Government Floating Rate Index ETF (PFL.TO) is 0.22%, while Desjardins 1-5 Year Laddered Canadian Government Bond Index ETF (DCG.TO) has a volatility of 0.58%. This indicates that PFL.TO experiences smaller price fluctuations and is considered to be less risky than DCG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PFL.TODCG.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.22%

0.58%

-0.36%

Volatility (6M)

Calculated over the trailing 6-month period

0.56%

1.74%

-1.18%

Volatility (1Y)

Calculated over the trailing 1-year period

0.82%

2.42%

-1.60%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

0.97%

3.17%

-2.20%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

1.33%

2.86%

-1.53%

Dividends

PFL.TO vs. DCG.TO - Dividend Comparison

PFL.TO's dividend yield for the trailing twelve months is around 2.63%, more than DCG.TO's 2.18% yield.

PositionTTM20252024202320222021202020192018201720162015
DCG.TO
Desjardins 1-5 Year Laddered Canadian Government Bond Index ETF		2.18%2.23%2.26%2.20%2.79%2.56%3.08%3.14%3.16%2.30%0.00%0.00%
PFL.TO
Invesco Canadian Government Floating Rate Index ETF		2.63%2.95%5.23%5.13%2.22%0.36%1.21%2.10%1.59%0.95%0.81%0.95%

Frequently Asked Questions

PFL.TO and DCG.TO have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

They also come from different issuers: Invesco and Desjardins.

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