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

PFL.TO vs. ESGC.TO

Last updated Jul 4, 2026
See Documentation

PFL.TO (Invesco Canadian Government Floating Rate Index ETF) and ESGC.TO (Invesco S&P/TSX Composite ESG Index ETF) are both exchange-traded funds - PFL.TO is a Canadian Government Bonds fund tracking the FTSE Canada Government Floating Rate Note Index, while ESGC.TO is a Canada Equities fund tracking the S&P/TSX Composite ESG Index. Both are passively managed. Over the past 5 years, PFL.TO returned 3.13%/yr vs 13.02%/yr for ESGC.TO. At a 0.03 correlation, their price movements are largely independent.

Performance

PFL.TO vs. ESGC.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 Invesco S&P/TSX Composite ESG Index ETF (ESGC.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 1.26% return, which is significantly lower than ESGC.TO's 14.40% return.

PFL.TO

1D
0.10%
1M
0.25%
6M
1.26%
YTD
1.26%
1Y
2.77%
3Y*
3.75%
5Y*
3.13%
10Y*
2.16%

ESGC.TO

1D
0.76%
1M
1.89%
6M
14.43%
YTD
14.40%
1Y
34.43%
3Y*
21.61%
5Y*
13.02%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020
PFL.TO
Invesco Canadian Government Floating Rate Index ETF		1.26%3.00%4.53%5.09%1.78%0.25%-0.04%
ESGC.TO
Invesco S&P/TSX Composite ESG Index ETF		14.40%31.52%16.03%7.50%-7.28%23.99%5.27%

Correlation

The correlation between PFL.TO and ESGC.TO is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

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

-0.04

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

0.01

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

0.03

Correlation (All Time)
Calculated using the full available price history since Oct 8, 2020

0.03

Compare stocks, funds, or ETFs

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Invesco Canadian Government Floating Rate Index ETF

Invesco S&P/TSX Composite ESG Index ETF

Often compared with ESGC.TO:
ESGC.TO vs. CFOU.TOESGC.TO vs. ESG.TOESGC.TO vs. QQCE.TOESGC.TO vs. INAI.TOESGC.TO vs. QQC-F.TOESGC.TO vs. HEWB.TOESGC.TO vs. EQL.TO

Return for Risk

PFL.TO vs. ESGC.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: 9898
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
ESGC.TO
ESGC.TO Risk / Return Rank: 8888
Overall Rank
ESGC.TO Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
ESGC.TO Sortino Ratio Rank: 9191
Sortino Ratio Rank
ESGC.TO Omega Ratio Rank: 9292
Omega Ratio Rank
ESGC.TO Calmar Ratio Rank: 8080
Calmar Ratio Rank
ESGC.TO Martin Ratio Rank: 8686
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. ESGC.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 Invesco S&P/TSX Composite ESG Index ETF (ESGC.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.TOESGC.TODifference
Sharpe ratioReturn per unit of total volatility
3.39
2.65

+0.74

Sortino ratioReturn per unit of downside risk
5.91
3.57

+2.33

Omega ratioGain probability vs. loss probability

1.81

1.50

+0.31

Calmar ratioReturn relative to maximum drawdown

18.12

3.41

+14.71

Martin ratioReturn relative to average drawdown

58.96

14.58

+44.38

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

The current PFL.TO Sharpe Ratio is 3.39, which is comparable to the ESGC.TO Sharpe Ratio of 2.65. The chart below compares the historical Sharpe Ratios of PFL.TO and ESGC.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. ESGC.TO - Drawdown Comparison

The maximum PFL.TO drawdown since its inception was -2.07%, smaller than the maximum ESGC.TO drawdown of -16.66%. Use the drawdown chart below to compare losses from any high point for PFL.TO and ESGC.TO.

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Drawdown Indicators

PFL.TOESGC.TODifference

Max Drawdown

Largest peak-to-trough decline

-2.07%

-16.66%

+14.59%

Max Drawdown (1Y)

Largest decline over 1 year

-0.15%

-10.14%

+9.99%

Max Drawdown (3Y)

Largest decline over 3 years

-0.22%

-13.45%

+13.23%

Max Drawdown (5Y)

Largest decline over 5 years

-0.30%

-16.66%

+16.36%

Max Drawdown (10Y)

Largest decline over 10 years

-2.07%

—

—

Current Drawdown

Current decline from peak

0.00%

-0.50%

+0.50%

Average Drawdown

Average peak-to-trough decline

-0.08%

-3.72%

+3.64%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.05%

2.37%

-2.32%

Volatility

PFL.TO vs. ESGC.TO - Volatility Comparison

The current volatility for Invesco Canadian Government Floating Rate Index ETF (PFL.TO) is 0.28%, while Invesco S&P/TSX Composite ESG Index ETF (ESGC.TO) has a volatility of 4.27%. This indicates that PFL.TO experiences smaller price fluctuations and is considered to be less risky than ESGC.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.TOESGC.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.28%

4.27%

-3.99%

Volatility (6M)

Calculated over the trailing 6-month period

0.56%

11.03%

-10.47%

Volatility (1Y)

Calculated over the trailing 1-year period

0.82%

13.05%

-12.23%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

0.97%

12.94%

-11.97%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

1.33%

12.88%

-11.55%

Dividends

PFL.TO vs. ESGC.TO - Dividend Comparison

PFL.TO's dividend yield for the trailing twelve months is around 2.63%, more than ESGC.TO's 2.13% yield.

PositionTTM20252024202320222021202020192018201720162015
ESGC.TO
Invesco S&P/TSX Composite ESG Index ETF		2.13%2.36%2.66%3.23%2.98%2.28%0.67%0.00%0.00%0.00%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 ESGC.TO have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

PFL.TO is categorized as Canadian Government Bonds, while ESGC.TO is Canada Equities. PFL.TO tracks FTSE Canada Government Floating Rate Note Index, while ESGC.TO tracks S&P/TSX Composite ESG Index.

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