PSB.TO vs. PDC.TO
PSB.TO (Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF) and PDC.TO (Invesco Canadian Dividend Index ETF) 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 PDC.TO is a Dividend fund tracking the NASDAQ Select Canadian Dividend Index. Both are passively managed. Over the past 10 years, PSB.TO returned 2.68%/yr vs 11.35%/yr for PDC.TO. At a 0.04 correlation, their price movements are largely independent. PSB.TO charges 0.28%/yr vs 0.58%/yr for PDC.TO.
Performance
PSB.TO vs. PDC.TO - Performance Comparison
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Returns By Period
In the year-to-date period, PSB.TO achieves a 1.43% return, which is significantly lower than PDC.TO's 26.09% return. Over the past 10 years, PSB.TO has underperformed PDC.TO with an annualized return of 2.68%, while PDC.TO has yielded a comparatively higher 11.35% annualized return.
PSB.TO
- 1D
- 0.22%
- 1M
- -0.29%
- 6M
- 0.99%
- YTD
- 1.43%
- 1Y
- 3.77%
- 3Y*
- 6.09%
- 5Y*
- 2.87%
- 10Y*
- 2.68%
- ALL TIME*
- 2.79%
PDC.TO
- 1D
- 0.69%
- 1M
- 3.43%
- 6M
- 22.60%
- YTD
- 26.09%
- 1Y
- 38.58%
- 3Y*
- 22.29%
- 5Y*
- 14.82%
- 10Y*
- 11.35%
- ALL TIME*
- 10.59%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$76.46K | CA$67.75K | CA$95.06K | |
| CA$69.46K | CA$67.57K | CA$89.62K |
PSB.TO vs. PDC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSB.TO Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF | 1.43% | 4.68% | 7.08% | 6.44% | -3.89% | -0.97% | 6.08% | 4.25% | 1.59% | 0.23% |
PDC.TO Invesco Canadian Dividend Index ETF | 26.09% | 21.80% | 16.38% | 6.97% | -4.17% | 30.14% | -5.48% | 25.00% | -11.85% | 10.27% |
Correlation
The correlation between PSB.TO and PDC.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 | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Jun 20, 2011 | 0.04 |
The correlation between PSB.TO and PDC.TO shifts across timeframes, from 0.04 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PSB.TO vs. PDC.TO — Risk / Return Rank
PSB.TO
PDC.TO
PSB.TO vs. PDC.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 Canadian Dividend Index ETF (PDC.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 | PDC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.15 | ||
| Sortino ratioReturn per unit of downside risk | -3.94 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.89 | -0.65 |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | 10.03 | -7.30 |
| Martin ratioReturn relative to average drawdown | 8.30 | 36.85 | -28.55 |
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Drawdowns
PSB.TO vs. PDC.TO - Drawdown Comparison
The maximum PSB.TO drawdown since its inception was -13.24%, smaller than the maximum PDC.TO drawdown of -41.93%. Use the drawdown chart below to compare losses from any high point for PSB.TO and PDC.TO.
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Drawdown Indicators
| PSB.TO | PDC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.24% | -41.93% | +28.69% |
Max Drawdown (1Y)Largest decline over 1 year | -1.38% | -3.86% | +2.48% |
Max Drawdown (3Y)Largest decline over 3 years | -1.89% | -10.52% | +8.63% |
Max Drawdown (5Y)Largest decline over 5 years | -7.93% | -17.98% | +10.05% |
Max Drawdown (10Y)Largest decline over 10 years | -13.24% | -41.93% | +28.69% |
Current DrawdownCurrent decline from peak | -0.33% | -0.33% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -1.00% | -4.48% | +3.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.45% | 1.05% | -0.60% |
Volatility
PSB.TO vs. PDC.TO - Volatility Comparison
The current volatility for Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF (PSB.TO) is 0.74%, while Invesco Canadian Dividend Index ETF (PDC.TO) has a volatility of 2.41%. This indicates that PSB.TO experiences smaller price fluctuations and is considered to be less risky than PDC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSB.TO | PDC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.74% | 2.41% | -1.67% |
Volatility (6M)Calculated over the trailing 6-month period | 1.97% | 6.51% | -4.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.75% | 8.58% | -5.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.32% | 10.83% | -7.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.85% | 15.28% | -10.43% |
PSB.TO vs. PDC.TO - Expense Ratio Comparison
PSB.TO has a 0.28% expense ratio, which is lower than PDC.TO's 0.58% expense ratio.
Dividends
PSB.TO vs. PDC.TO - Dividend Comparison
PSB.TO's dividend yield for the trailing twelve months is around 3.21%, more than PDC.TO's 3.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PDC.TO Invesco Canadian Dividend Index ETF | 3.14% | 3.96% | 4.48% | 4.77% | 4.24% | 3.65% | 5.07% | 4.33% | 5.12% | 4.23% | 3.77% | 4.39% |
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
PSB.TO and PDC.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.
On fees, PSB.TO is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PSB.TO is cheaper with a 0.28% expense ratio, compared with 0.58% for PDC.TO.
PSB.TO is categorized as Corporate Bonds, while PDC.TO is Dividend. PSB.TO tracks FTSE Canada Investment Grade 1-5 Year Laddered Corporate Bond Index, while PDC.TO tracks NASDAQ Select Canadian Dividend Index. Their fees differ too: 0.28% for PSB.TO and 0.58% for PDC.TO.
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