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PXS.TO vs. PDC.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PXS.TO vs. PDC.TO

Last updated Aug 2, 2026
Documentation

PXS.TO (Invesco RAFI U.S. Index ETF II CAD) and PDC.TO (Invesco Canadian Dividend Index ETF) are both exchange-traded funds - PXS.TO is a Large Cap Value Equities fund tracking the RAFI Fundamental Select US 1000 Index, while PDC.TO is a Dividend fund tracking the NASDAQ Select Canadian Dividend Index. Both are passively managed. Over the past 10 years, PXS.TO returned 14.17%/yr vs 11.43%/yr for PDC.TO. Their 0.36 correlation means their historical movements had little consistent relationship. PXS.TO charges 0.46%/yr vs 0.58%/yr for PDC.TO.

Performance

PXS.TO vs. PDC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Invesco RAFI U.S. Index ETF II CAD (PXS.TO) and Invesco Canadian Dividend Index ETF (PDC.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, PXS.TO achieves a 19.51% return, which is significantly lower than PDC.TO's 25.42% return. Over the past 10 years, PXS.TO has outperformed PDC.TO with an annualized return of 14.17%, while PDC.TO has yielded a comparatively lower 11.43% annualized return.

PXS.TO

1D
1.21%
1M
-0.01%
6M
17.40%
YTD
19.51%
1Y
32.07%
3Y*
21.41%
5Y*
15.72%
10Y*
14.17%
ALL TIME*
13.37%

PDC.TO

1D
-0.32%
1M
2.24%
6M
22.87%
YTD
25.42%
1Y
38.86%
3Y*
22.41%
5Y*
14.54%
10Y*
11.43%
ALL TIME*
10.54%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

PDC.TO

Invesco Canadian Dividend Index ETF
CA$73.82KCA$71.46KCA$90.55K

PXS.TO

Invesco RAFI U.S. Index ETF II CAD
CA$34.19KCA$56.40KCA$70.23K

PXS.TO vs. PDC.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PXS.TO
Invesco RAFI U.S. Index ETF II CAD		19.51%13.64%26.23%12.41%-2.47%32.84%4.71%21.47%-1.23%8.36%
PDC.TO
Invesco Canadian Dividend Index ETF		25.42%21.80%16.38%6.97%-4.17%30.14%-5.48%25.00%-11.85%10.27%

Correlation

The correlation between PXS.TO and PDC.TO is 0.25, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.25

Correlation (3Y)
Balances recent behavior with more history.

0.37

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.39

Correlation (10Y)
Provides a long-term view across more market conditions.

0.39

Correlation (All Time)
Calculated using the full available price history since Apr 20, 2015

0.36

The correlation between PXS.TO and PDC.TO shifts across timeframes, from 0.25 (1 year) to 0.39 (10 years), reflecting how their relationship changes across market environments.

PXS.TO vs. PDC.TO - Sectors Allocation Comparison

Sectors
PXS.TO
PDC.TO

Technology

22.3%
0.7%

Financial Services

16.0%
45.6%

Healthcare

12.6%

-

Industrials

9.3%
1.1%

Consumer Cyclical

9.0%
6.7%

Communication Services

8.7%
4.4%

Energy

7.1%
20.4%

Consumer Defensive

6.2%
0.8%

Utilities

3.1%
14.2%

Basic Materials

3.0%
3.7%

Real Estate

2.6%
2.4%

Technology

PXS.TO
22.3%
PDC.TO
0.7%

Financial Services

PXS.TO
16.0%
PDC.TO
45.6%

Healthcare

PXS.TO
12.6%
PDC.TO

-

Industrials

PXS.TO
9.3%
PDC.TO
1.1%

Consumer Cyclical

PXS.TO
9.0%
PDC.TO
6.7%

Communication Services

PXS.TO
8.7%
PDC.TO
4.4%

Energy

PXS.TO
7.1%
PDC.TO
20.4%

Consumer Defensive

PXS.TO
6.2%
PDC.TO
0.8%

Utilities

PXS.TO
3.1%
PDC.TO
14.2%

Basic Materials

PXS.TO
3.0%
PDC.TO
3.7%

Real Estate

PXS.TO
2.6%
PDC.TO
2.4%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco RAFI U.S. Index ETF II CAD

Invesco Canadian Dividend Index ETF

Often compared with PXS.TO:
PXS.TO vs. PXC.TOPXS.TO vs. TLV.TOPXS.TO vs. QQC.TOPXS.TO vs. CUD.TOPXS.TO vs. ESGC.TOPXS.TO vs. EQL.TOPXS.TO vs. XDU.TO
Often compared with PDC.TO:
PDC.TO vs. XDIV.TOPDC.TO vs. PDIV.TOPDC.TO vs. VDY.TOPDC.TO vs. RCD.TOPDC.TO vs. RBNK.TOPDC.TO vs. 3466.HKPDC.TO vs. XDV.TO

Return for Risk

PXS.TO vs. PDC.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
PXS.TO
PXS.TO Risk / Return Rank: 9595
Overall Rank
PXS.TO Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
PXS.TO Sortino Ratio Rank: 9595
Sortino Ratio Rank
PXS.TO Omega Ratio Rank: 9595
Omega Ratio Rank
PXS.TO Calmar Ratio Rank: 9696
Calmar Ratio Rank
PXS.TO Martin Ratio Rank: 9696
Martin Ratio Rank
PDC.TO
PDC.TO Risk / Return Rank: 9898
Overall Rank
PDC.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
PDC.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
PDC.TO Omega Ratio Rank: 9898
Omega Ratio Rank
PDC.TO Calmar Ratio Rank: 9898
Calmar Ratio Rank
PDC.TO Martin Ratio Rank: 9797
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PXS.TO vs. PDC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco RAFI U.S. Index ETF II CAD (PXS.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.

PXS.TOPDC.TODifference
Sharpe ratioReturn per unit of total volatility
2.80
4.44

-1.63

Sortino ratioReturn per unit of downside risk
4.11
5.75

-1.64

Omega ratioGain probability vs. loss probability

1.55

1.87

-0.33

Calmar ratioReturn relative to maximum drawdown

6.47

9.99

-3.51

Martin ratioReturn relative to average drawdown

22.96

36.59

-13.63

PXS.TO vs. PDC.TO - Sharpe Ratio Comparison

The current PXS.TO Sharpe Ratio is 2.80, which is lower than the PDC.TO Sharpe Ratio of 4.44. The chart below compares the historical Sharpe Ratios of PXS.TO and PDC.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

PXS.TO vs. PDC.TO - Drawdown Comparison

The maximum PXS.TO drawdown since its inception was -31.87%, smaller than the maximum PDC.TO drawdown of -41.93%. Use the drawdown chart below to compare losses from any high point for PXS.TO and PDC.TO.

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Drawdown Indicators

PXS.TOPDC.TODifference

Max Drawdown

Largest peak-to-trough decline

-31.87%

-41.93%

+10.06%

Max Drawdown (1Y)

Largest decline over 1 year

-4.88%

-3.86%

-1.02%

Max Drawdown (3Y)

Largest decline over 3 years

-16.36%

-10.43%

-5.93%

Max Drawdown (5Y)

Largest decline over 5 years

-16.36%

-17.98%

+1.62%

Max Drawdown (10Y)

Largest decline over 10 years

-31.87%

-41.93%

+10.06%

Current Drawdown

Current decline from peak

-0.82%

-1.06%

+0.24%

Average Drawdown

Average peak-to-trough decline

-3.32%

-4.47%

+1.15%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.38%

1.05%

+0.33%

Volatility

PXS.TO vs. PDC.TO - Volatility Comparison

Invesco RAFI U.S. Index ETF II CAD (PXS.TO) has a higher volatility of 3.26% compared to Invesco Canadian Dividend Index ETF (PDC.TO) at 2.78%. This indicates that PXS.TO's price experiences larger fluctuations and is considered to be riskier 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

PXS.TOPDC.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.26%

2.78%

+0.48%

Volatility (6M)

Calculated over the trailing 6-month period

8.33%

6.60%

+1.73%

Volatility (1Y)

Calculated over the trailing 1-year period

11.28%

8.70%

+2.58%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.30%

10.85%

+2.45%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.26%

15.28%

-0.02%

PXS.TO vs. PDC.TO - Expense Ratio Comparison

PXS.TO has a 0.46% expense ratio, which is lower than PDC.TO's 0.58% expense ratio.

Dividends

PXS.TO vs. PDC.TO - Dividend Comparison

PXS.TO's dividend yield for the trailing twelve months is around 1.20%, less than PDC.TO's 3.17% yield.

PositionTTM20252024202320222021202020192018201720162015
PDC.TO
Invesco Canadian Dividend Index ETF		3.17%3.96%4.48%4.77%4.24%3.65%5.07%4.33%5.12%4.23%3.77%4.39%
PXS.TO
Invesco RAFI U.S. Index ETF II CAD		1.20%1.49%1.53%1.53%1.80%1.51%2.51%1.91%1.84%1.50%1.62%1.40%

Frequently Asked Questions

PXS.TO and PDC.TO have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, PXS.TO is cheaper at 0.46% per year. The better choice depends on whether you care most about return, fees, risk, or income.

PXS.TO is cheaper with a 0.46% expense ratio, compared with 0.58% for PDC.TO.

PXS.TO is categorized as Large Cap Value Equities, while PDC.TO is Dividend. PXS.TO tracks RAFI Fundamental Select US 1000 Index, while PDC.TO tracks NASDAQ Select Canadian Dividend Index. Their fees differ too: 0.46% for PXS.TO and 0.58% for PDC.TO.

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