PXC.TO vs. CMVP.TO
PXC.TO (Invesco RAFI Canadian Index ETF) and CMVP.TO (HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units) are both Canada Equities funds - PXC.TO tracks the RAFI Canada Index while CMVP.TO tracks the Solactive Canada Dividend Elite Champions Index. Both are passively managed. Over the past year, PXC.TO returned 36.76% vs 32.11% for CMVP.TO. A 0.67 correlation means they provide meaningful diversification when combined.
Performance
PXC.TO vs. CMVP.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with PXC.TO having a 17.12% return and CMVP.TO slightly lower at 16.45%.
PXC.TO
- 1D
- -0.64%
- 1M
- -0.22%
- YTD
- 17.12%
- 6M
- 12.82%
- 1Y
- 36.76%
- 3Y*
- 25.64%
- 5Y*
- 16.75%
- 10Y*
- 13.41%
CMVP.TO
- 1D
- 0.16%
- 1M
- 2.58%
- YTD
- 16.45%
- 6M
- 16.06%
- 1Y
- 32.11%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PXC.TO vs. CMVP.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PXC.TO Invesco RAFI Canadian Index ETF | 17.12% | 22.88% |
CMVP.TO HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units | 16.45% | 21.08% |
Correlation
The correlation between PXC.TO and CMVP.TO is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2025 | 0.67 |
The correlation between PXC.TO and CMVP.TO has been stable across timeframes, ranging from 0.65 to 0.67 - a consistent structural relationship.
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Return for Risk
PXC.TO vs. CMVP.TO — Risk / Return Rank
PXC.TO
CMVP.TO
PXC.TO vs. CMVP.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco RAFI Canadian Index ETF (PXC.TO) and HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units (CMVP.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.
| PXC.TO | CMVP.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.69 | 1.59 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 7.95 | 4.52 | +3.43 |
| Martin ratioReturn relative to average drawdown | 31.61 | 20.40 | +11.21 |
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Drawdowns
PXC.TO vs. CMVP.TO - Drawdown Comparison
The maximum PXC.TO drawdown since its inception was -41.78%, which is greater than CMVP.TO's maximum drawdown of -8.86%. Use the drawdown chart below to compare losses from any high point for PXC.TO and CMVP.TO.
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Drawdown Indicators
| PXC.TO | CMVP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.78% | -8.86% | -32.92% |
Max Drawdown (1Y)Largest decline over 1 year | -4.64% | -7.14% | +2.50% |
Max Drawdown (3Y)Largest decline over 3 years | -10.99% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -15.75% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -41.78% | — | — |
Current DrawdownCurrent decline from peak | -1.30% | 0.00% | -1.30% |
Average DrawdownAverage peak-to-trough decline | -5.05% | -1.05% | -4.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 1.58% | -0.41% |
Volatility
PXC.TO vs. CMVP.TO - Volatility Comparison
Invesco RAFI Canadian Index ETF (PXC.TO) has a higher volatility of 3.14% compared to HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units (CMVP.TO) at 2.85%. This indicates that PXC.TO's price experiences larger fluctuations and is considered to be riskier than CMVP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PXC.TO | CMVP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.14% | 2.85% | +0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 8.56% | 8.10% | +0.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.39% | 9.92% | +0.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.27% | 11.02% | +2.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.41% | 11.02% | +5.39% |
Dividends
PXC.TO vs. CMVP.TO - Dividend Comparison
PXC.TO's dividend yield for the trailing twelve months is around 2.27%, less than CMVP.TO's 2.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMVP.TO HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units | 2.61% | 2.70% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PXC.TO Invesco RAFI Canadian Index ETF | 2.27% | 2.65% | 3.17% | 3.48% | 3.42% | 2.58% | 3.10% | 2.92% | 2.86% | 2.23% | 2.57% | 3.13% |
Frequently Asked Questions
PXC.TO and CMVP.TO have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PXC.TO tracks RAFI Canada Index, while CMVP.TO tracks Solactive Canada Dividend Elite Champions Index. They also come from different issuers: Invesco and Hamilton Capital.
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