PSB.TO vs. EQL.TO

Last updated Jul 4, 2026

PSB.TO (Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF) and EQL.TO (Invesco S&P 500 Equal Weight Index ETF CAD) are both exchange-traded funds - PSB.TO is a Corporate Bonds fund tracking the FTSE Canada Investment Grade 1-5 Year Laddered Corporate Bond Index, while EQL.TO is a S&P 500 fund tracking the S&P 500 Equal Weight Index. Both are passively managed. Over the past 5 years, PSB.TO returned 2.96%/yr vs 11.81%/yr for EQL.TO. At a 0.11 correlation, their price movements are largely independent. PSB.TO charges 0.28%/yr vs 0.25%/yr for EQL.TO.

Performance

PSB.TO vs. EQL.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF (PSB.TO) and Invesco S&P 500 Equal Weight Index ETF CAD (EQL.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSB.TO achieves a 1.49% return, which is significantly lower than EQL.TO's 17.42% return.

PSB.TO

• 1D: 0.11%
• 1M: 0.21%
• 6M: 1.49%
• YTD: 1.49%
• 1Y: 3.77%
• 3Y*: 6.00%
• 5Y*: 2.96%
• 10Y*: 2.68%

EQL.TO

• 1D: 0.84%
• 1M: 5.98%
• 6M: 16.69%
• YTD: 17.42%
• 1Y: 23.73%
• 3Y*: 17.30%
• 5Y*: 11.81%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

PSB.TO vs. EQL.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
PSB.TO Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF	1.49%	4.68%	7.08%	6.44%	-3.89%	-0.97%	6.08%	4.25%	1.23%
EQL.TO Invesco S&P 500 Equal Weight Index ETF CAD	17.42%	5.94%	21.81%	11.36%	-6.24%	28.55%	10.48%	22.62%	-4.47%

Correlation

The correlation between PSB.TO and EQL.TO is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (All Time) Calculated using the full available price history since May 30, 2018	0.11

Return for Risk

PSB.TO vs. EQL.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PSB.TO

PSB.TO Risk / Return Rank: 52
PSB.TO Sharpe Ratio Rank: 46
PSB.TO Sortino Ratio Rank: 45
PSB.TO Omega Ratio Rank: 45
PSB.TO Calmar Ratio Rank: 67
PSB.TO Martin Ratio Rank: 57

EQL.TO

EQL.TO Risk / Return Rank: 78
EQL.TO Sharpe Ratio Rank: 75
EQL.TO Sortino Ratio Rank: 78
EQL.TO Omega Ratio Rank: 73
EQL.TO Calmar Ratio Rank: 82
EQL.TO Martin Ratio Rank: 80

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.

PSB.TO vs. EQL.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF (PSB.TO) and Invesco S&P 500 Equal Weight Index ETF CAD (EQL.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.

	PSB.TO	EQL.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.37	1.99	-0.62
Sortino ratio: Return per unit of downside risk	1.92	2.85	-0.93
Omega ratio: Gain probability vs. loss probability	1.25	1.35	-0.10
Calmar ratio: Return relative to maximum drawdown	2.74	3.54	-0.80
Martin ratio: Return relative to average drawdown	8.23	12.67	-4.44

PSB.TO vs. EQL.TO - Sharpe Ratio Comparison

The current PSB.TO Sharpe Ratio is 1.37, which is lower than the EQL.TO Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of PSB.TO and EQL.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.

Drawdowns

PSB.TO vs. EQL.TO - Drawdown Comparison

The maximum PSB.TO drawdown since its inception was -13.24%, smaller than the maximum EQL.TO drawdown of -33.08%. Use the drawdown chart below to compare losses from any high point for PSB.TO and EQL.TO.

Drawdown Indicators

	PSB.TO	EQL.TO	Difference
Max Drawdown Largest peak-to-trough decline	-13.24%	-33.08%	+19.84%
Max Drawdown (1Y) Largest decline over 1 year	-1.38%	-6.73%	+5.35%
Max Drawdown (3Y) Largest decline over 3 years	-1.89%	-17.25%	+15.36%
Max Drawdown (5Y) Largest decline over 5 years	-7.93%	-18.73%	+10.80%
Max Drawdown (10Y) Largest decline over 10 years	-13.24%	—	—
Current Drawdown Current decline from peak	-0.23%	0.00%	-0.23%
Average Drawdown Average peak-to-trough decline	-1.00%	-3.95%	+2.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.46%	1.88%	-1.42%

Volatility

PSB.TO vs. EQL.TO - Volatility Comparison

The current volatility for Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF (PSB.TO) is 0.61%, while Invesco S&P 500 Equal Weight Index ETF CAD (EQL.TO) has a volatility of 3.21%. This indicates that PSB.TO experiences smaller price fluctuations and is considered to be less risky than EQL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSB.TO	EQL.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.61%	3.21%	-2.60%
Volatility (6M) Calculated over the trailing 6-month period	1.91%	9.26%	-7.35%
Volatility (1Y) Calculated over the trailing 1-year period	2.77%	12.00%	-9.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.31%	14.36%	-11.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.85%	16.90%	-12.05%

PSB.TO vs. EQL.TO - Expense Ratio Comparison

PSB.TO has a 0.28% expense ratio, which is higher than EQL.TO's 0.25% expense ratio.

Dividends

PSB.TO vs. EQL.TO - Dividend Comparison

PSB.TO's dividend yield for the trailing twelve months is around 3.21%, more than EQL.TO's 1.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EQL.TO Invesco S&P 500 Equal Weight Index ETF CAD	1.22%	1.38%	1.29%	1.39%	1.51%	1.30%	2.00%	1.49%	1.35%	0.00%	0.00%	0.00%
PSB.TO Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF	3.21%	3.18%	3.12%	3.09%	3.13%	2.91%	2.74%	3.00%	3.37%	3.61%	4.01%	4.04%

Frequently Asked Questions

Can I hold both PSB.TO and EQL.TO in my portfolio?

PSB.TO and EQL.TO have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PSB.TO or EQL.TO?

On fees, EQL.TO is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PSB.TO or EQL.TO?

EQL.TO is cheaper with a 0.25% expense ratio, compared with 0.28% for PSB.TO.

What is the main difference between PSB.TO and EQL.TO?

PSB.TO is categorized as Corporate Bonds, while EQL.TO is S&P 500. PSB.TO tracks FTSE Canada Investment Grade 1-5 Year Laddered Corporate Bond Index, while EQL.TO tracks S&P 500 Equal Weight Index. Their fees differ too: 0.28% for PSB.TO and 0.25% for EQL.TO.